Market Pulse - Commodities
Reduced leverage may have unintended consequences, Citi cautions
Selling in financial markets around the world thus far has been 'orderly' but the trends in certain market metrics were pointing to the risk that regulators had got it badly wrong in assuming reduced leverage on the part of financial institutions had made the financial system safer, Citi told clients on Friday.
Commodities: Gold futures spike 5% on safe haven calls
Gold futures spiked by more than 5% following safe haven calls on Thursday, while oil benchmarks and base metals endured yet another torrid session.
Saudi might agree to freeze in oil production if Iran did so too, report says
Saudi Arabia might be willing to sign-up to a Venezuelan proposal that producer countries from the Organisation of the Petroleum Exporting Countries and those from outside ‘freeze’ their oil output at current levels if Iran also signed up to such an agreement, Reuters reported.
UBS sees signs of capitulation in markets, QE-effects on asset prices will stick
Investors in so-called quality-stocks should be wary, given the extreme divergence in valuations reached versus so-called 'value' stocks, UBS cautioned on Thursday.
Banks' valuations now appealing, worst of crude oil drop past, Credit Suisse says
Markets are interpreting the drop in the price of crude oil as the result of falling demand, but they were mistaken, a top-ranked strategist said.
Commodities: Oil futures recover as precious metals retreat
Oil futures recovered on Wednesday following a decline in US inventories, but precious metals retreated as US Federal Reserve Chairwoman Janet Yellen delivered her semi-annual testimony to the country’s Congress on US monetary policy.
Bonds: US high-yield debt markets under pressure as oil slides
These were the movements in the yields of the most widely-followed 10-year sovereign bonds:.
Commodities: WTI futures plunge below $30/bbl
Oil futures endured another volatile session on Tuesday as the WTI front-month contract fell below $30 per barrel, while metals saw lacklustre trading in Europe.
IEA says global oil glut will worsen in early 2016
Crude oil prices might head lower over the next few months as Iraq and Iran boost their output even in the face of slower growth in demand and offset decreased supplies from outside the cartel of oil producing nations, the rich world’s oil watchdog said on Tuesday.
Commodities: Gold spikes on 'safe haven' calls, oil slides further
Gold spiked on 'safe haven' demand on Monday, while oil futures started yet another trading week on a negative footing.
JP Morgan still cautious on equities despite weakness in US dollar
The recent correction in stocks was not a buying opportunity, JP Morgan told clients at the start of the week.
Saudi Arabia holds successful talks with Venezuela, country´s oil minister says
Saudi Arabia held "successful" talks over the weekend with Venezuela, which is also a member of the Organisation for Petroleum Exporting Countries, on possible avenues of cooperation to help stabilise the crude market, according to the country´s oil minister.
Commodities: Oil, gold futures retreat on mixed US data
Oil and gold futures headed lower on Friday, along with much of the base metal complex, as weekend profit taking in Europe and mixed data from the US weighed on trading patterns.
Nomura reiterates 'buy' rating for BG Group
Nomura reiterated its ‘buy’ rating and target price of 1150p on BG Group after the company reported a rise in full-year earnings.
Commodities: Oil futures slide but gold holds firm
Oil futures fell into negative territory during Thursday afternoon trading, while gold futures extended gains for much of the session.
Pricing pressures to nibble at UK packaged food suppliers' profits, Moody's says
Difficult trading conditions for packaged food suppliers in the UK will persist in 2016 as a result of the ongoing price war between food retailers, according to Moody’s.
ConocoPhilips slashes dividend in face of uncertain outlook for commodities
Conoco Philips slashed its dividend payout by two-thirds and unveiled new reductions to its capital investment programme as well as cost cuts alongside its fourth-quarter results.
Minerals industry contributes £235bn to UK economy, CBI report says
The UK mineral extraction industry contributes to the economy by underpinning £235bn in added value terms, representing 16% of the total economy, according to a report published by the Confederation of British Industry.
S&P downgrades Glencore´s long-term debt rating
The "very challenging" outlook for the price of copper and other metals and the resulting heightened volatility in Glencore´s earnings requires a more cautious approach by investors towards the company´s debt and financial leverage, Standard&Poor´s said.
Morgan Stanley now sees crude oil prices falling throughout 2016
Oil prices would continue falling throughout 2016 instead of rising, according to new research from Morgan Stanley, possibly confounding the likes of the European Commission who on the same day predicted a recovery beginning in the back half of the same year.