Market Pulse - Commodities
Asiamet's BKZ delivers maiden resource estimate
Copper and gold exploration and development firm Asiamet Resources has reacted positively to an initial resource estimate for the BKZ polymetallic deposit in at the KSK project in Kalimantan, Indonesia.
Households to cough extra £1.5bn after tweak in green subsidy backfires
UK energy users will be forced to pay an extra £1. 5bn for their green energy over the next fifteen years due to a tweak of the government’s policy on green energy subsidies, the National Audit Office has warned.
Sector movers: Oil & Gas names outperform, all eyes on geopolitical tensions
Oil & Gas names performed best on Tuesday as traders continued pushing crude oil futures higher in the face of simmering geopolitical tensions.
Commodities: Dollar strength and weak Chinese data weigh on gold, cocoa (not oil)
Commodities were broadly lower on Tuesday, but not by much, despite a sharp move higher in the value of the US dollar that took it to its best level in six months.
OPEC forecasts new supplies will outpace demand growth in 2018
The Organisation for Petroleum Exporting Countries nudged higher its forecast for growth in crude supplies from outside the cartel this year, predicting it would outpace the expected increase in demand.
Morgan Stanley says UK equities set to trump economic uncertainty
UK equities offer fertile ground for stock-pickers, Morgan Stanley says, despite the poor macroeconomic outlook.
Market buzz: Severn Trent down and ITV up as analysts opine
1226: The FTSE 100 is being held down by a stronger pound, down very slightly just past midday. Mike van Dulken, head of research at Accendo Markets, notes that the pound is helping miners while healthcare is under pressure ahead of a President Trump speech on the matter.
Weekly US oil and product stockpiles drop sharply
US commercial oil and product stockpiles shrank sharply last week, amid a big drop in imports.
Europeans stand by Iran nuclear deal after US pullout, Peugeot stalls
Germany, France, China and Russia declared their committed to the Iran nuclear deal on Wednesday after the US decided to withdraw support overnight, while shares in companies such as Airbus and Peugeot fell on worries about whether business could be effected.
Echo Energy kicks off four well campaign in Argentina
Upstream oil and gas firm Echo Energy announced on Wednesday that it has begun drilling the first exploration well of a back-to-back four well drilling campaign in Argentina.
Caspian restarts Kazakhstan operations after cold weather
Central Asian oil and gas company Caspian Sunrise has made further progress with its deep and shallow wells on the BNG contract area in Kazakhstan after a prolonged period of exceptionally cold weather.
Commodities: Energy futures drop ahead of White House announcement on Iran
Commodities were on the back foot on Tuesday as the Greenback climbed higher and traders took profits after a recent run-up in crude futures ahead of the White House's decision on the Iran nuclear deal due later in the session.
Oil trims losses amid mixed reports on White House's Iran intentions
Crude oil futures slumped, but then reversed course, amid conflicting reports about whether the US would pull out from the multilateral deal on Iran's nuclear programme.
Capital Economics expects higher metals output and Fed hiking to weigh on silver
Given that most silver is a by-product of mining for copper, gold, zinc and lead, analysts at Capital Economics believe that higher prices for industrial metals will see silver output bounce back by 3% in 2018 after a fall of 4% in 2017.
Trump to pass judgement on Iran nuclear deal on Tuesday
President Donald Trump will reveal his decision on whether the US is to pull out of the Iran nuclear accord today according to a tweet he published on Monday.
Frontera moves ahead with Georgian operations
AIM-quoted oil and gas explorer Frontera Resources issued an update on its Georgian operations at the Tarbani Complex on Tuesday.
US-China trade talks stumble over 'relatively big' disagreements
Trade representatives in Beijing have hit a wall after the US delegation presented a long list of demands to Chinese President Xi Jinping’s representatives.
Barclays recommends BHP Billiton over Rio Tinto
Barclays analysts upgraded BHP Billiton’s rating to 'overweight' on Friday and reduced that of Rio Tinto to 'equal weight', citing an expectation that BHP will close ground on Rio Tinto following five years of underperformance.
Citi downgrades Oil&Gas to 'neutral' after "sharp" rally
The 10% jump in UK equities over the past few weeks has reduced the 'value' opportunity on offer, strategists at Citi said, as they downgraded their stance on the Oil&Gas space to 'neutral'.
Commodities: Agricultural futures strongest, gold higher as dollar dips
Agriculture was again the strongest segment of the market on Thursday, against a backdrop of slight US dollar weakness.