Market Pulse - Commodities
Berenberg retains rating on Shell, flags 'challenging' quarter
Berenberg has retained its ‘hold’ rating on Royal Dutch Shell, but warned downgrades to earnings forecasts were likely.
Shell set to unveil job losses - report
Royal Dutch Shell is reportedly close to announcing potentially thousands of job cuts as it responds to the global slump in oil prices and looks to reposition itself as a green energy provider.
Greencoat UK Wind £400m capital raise oversubscribed
Greencoat UK Wind, the UK's leading listed fund investing renewables raised £400m gross in fresh capital via an oversubscribed capital raise.
Canaccord Genuity hikes target price for Ferguson, buoyant US housing key
Analysts at Canaccord Genuity hiked their target price for Ferguson, even while conceding that the macroeconomic outlook for 2021 remained "uncertain".
IEA: Governments need carbon storage tech to meet energy goals
The International Energy Agency said that without carbon capture, utilisation and storage programs it will be impossible for governments and large companies to meet targets for the reduction of greenhouse gases.
Half a billion jobs were lost around the world to Covid-19 in Q2
The novel coronavirus will exact a much higher toll on job markets around the world than previously feared, according to the global watchdog for labour.
Libyan oil exports may be set to restart as warring factions agree deal
Libyan oil production and exports from the east of the country are set to restart following a conditional lifting of the blockade imposed by the Libyan National Army under the command of Khalifa Haftar.
Canaccord stays at 'buy' for Gresham House on 'strong' outlook
Analysts at Canaccord Genuity have reiterated their 'buy' recommendation and 839. 0p target price for shares of Gresham House, the alternative fund manager, given its focus on Environmental, Social and Governance issues and "strong" long-term outlook for the business.
Pension fund withdraws support for Glencore's Valeria coal project
Glencore's plans for a new coal mine in Australia's Bowen Basin have run into unexpected opposition from a potentially key stakeholder.
Saudi could have enough uranium ore to produce own nuclear fuel
Saudi Arabia could have enough mineable uranium ore reserves to kickstart its domestic production of nuclear fuel, according to confidential reports from China that were seen by the Guardian.
EU set to extend permission for London to clear euro derivatives for 18 months
Brussels is set to extend authorisation for companies to clear euro denominated financial derivatives in the City of London for 18 months.
IEA cuts forecast for global oil demand growth in backhalf 2020
The International Energy Agency took an axe to its forecasts for global oil demand growth in the backhalf of 2020, even as it warned that the world's thirst for oil had, at 91. 7m barrels a day, only recovered to its levels from 2013 due to the pandemic.
Chinese industrial production and retail sales surprise to the upside in August
Key activity indicators in China all surprised to the upside in August, although one economist said the outlook was mixed.
Sector movers: Travel names pace gains, almost offsetting drag from Big Oil
Aerospace and travel issues paced gains at the start of the week even as strategists debated the outlook for UK equities in the background.
Liberum starts Shanta Gold at 'buy', says shares are 'cheap' at spot prices
Analysts at Liberum started coverage of Shanta Gold at 'buy' with a target price of 23. 0p, highlighting the miner's ability to deliver capital efficient near-term growth and its solid dividend.
StanChart's global head of commodities set to leave
StanChart's global head of commodities will leave after four years at the lender in a possible move to restructure the unit and cut risk.
Week ahead: Brexit and Chinese data in focus
The focus over the coming week will be on what some are billing as a potentially key five-day stretch for Brexit talks.
Oil companies to ramp up plastic supply to counter shift to renewable energy
Oil companies are set to ramp up their plastic production in a move to offset the shift towards renewable energy sources.
US trade deficit for July jumps past forecasts
America's shortfall on trade in goods and services with the rest of the world widened in July as import growth outpaced that of exports.
Sector movers: Aerospace and Defence walloped by break-out in Sterling, Miners higher
Aerospace and defence names were at the bottom of the pile as Sterling continued its push higher, oblivious to what some observers had billed as a key week for Brexit talks between Brussels and London.