Market Pulse - Commodities
Nanoco revenue jump driven by major US supply contract
Nano-materials developer Nanoco saw its shares dive on Wednesday despite forecasting a significant increase in revenue for the year ended 31 July.
Savannah Petroleum continues 100% success record with Niger discovery
British independent oil and gas company Savannah Petroleum on Wednesday made a new oil discovery through its Eridal-1 exploration well in the Agadem Rift Basin, South East Niger.
Cryptocurrencies tumble as 'panic' motivated sell-off continues
Bitcoin’s value dipped below $6,000 on Tuesday while other cryptocurrencies such as Ethereum continued to sink amid a continued sell-off in digital currencies.
KEFI Minerals prepares for development at Ethiopian asset
AIM-listed copper ores company KEFI Minerals has appointed itself a new head of project implementation as the company ramps-up preparations for the development of its Tulu Kapi gold project in Ethiopia.
Chinese economic data for July prints well below forecasts
A raft of economic indicators released overnight in China printed below forecasts, pointing to sustained weakness in growth in the Asian giant until mid-2019, economists said.
Commodities: WTI lower after US rig count data, gold threatens drop below $1,200/oz.
Commodities saw almost across-the-board declines at the start of the week, with oil futures weighed down by further gains in the US dollar, predictions for increased supplies and a jump in the US oil rig count.
Chinese PBoC shifts stance in July, leans on lenders
China's central bank shifted its stance last month, leaning on the country's lenders to increase their loan volumes as Beijing seeks to offset weaker growth and the impact from frictions with its largest trading partners.
Sector movers: Miners find a bid despite US dollar strength
Commodity-related stocks were on the front foot at the start of the week, buoyed by the release of data in China that some analysts suggested might show that the authorities had "switched stance" and that the country's central bank had been leaning on the country's banks to lend more.
Reabold seeking quick returns on California project after successful workover
Oil and gas investment company Reabold Resources on Monday confirmed that work is scheduled to commence this week on a California oil licence in which it has an option to invest.
ITM Power losses widen despite 'significant increase' in top line
Despite seeing losses widen over the last twelve months, hydrogen fuel cell developer ITM Power revealed a "significant increase" in its top line result on Monday.
Sector movers: Miners down on reports of Russian tax, rout in EM FX
The roof caved in on steel stocks Evraz and Ferrexpo at the end of the week following a report that some Russian authorities favoured increasing taxes on mining companies and after the US raised steel tariffs on Turkey.
Europe close: Stocks reel as Turkish lira sells off, euro drops
Stocks finished sharply lower on Friday as the rout in Turkey's currency, the lira, extended further, although - for the moment at least - some analysts believed the implications for global capital markets should be limited.
Serinus Energy gears up for maiden revenue from Romanian asset
Serinus Energy expects to see gas sales from its Moftinu project in Romania begin in the coming weeks.
Sector movers: Engineers pace gains
Cyclicals were pacing gains in the market on Thursday, with Industrial Engineering and Industrial Metals&Mining leading the advance.
China July CPI prints ahead of forecasts, but factory gate prices edge lower
Higher oil prices boosted the cost of living in China last month, but analysts continued to forecast lower inflation going forward, despite trade tariffs and the recent sharp weakening in the country's currency, the yuan.
Commodities: WTI skids to seven-week low after DoE weekly inventory data
West Texas Intermediate hit the skids following the release of unexpectedly bearish inventory data in the States and amid concerns that gasoline demand was already slowing.
Beijing bites back at Trump with tariffs on $16bn of goods
China hit back at looming US tariffs on Wednesday, with the country's commerce ministry in Beijing announcing its intention to impose 25% import duties targeting $16bn-worth of US goods.
JP Morgan upgrades Ferrexpo on valuation, free cash flow forecasts
Analysts at JP Morgan slashed their target price on shares of Ferrexpo, on account of what they said was the iron ore miner's now higher cost base.
Ferrexpo's interim profits hit by rising costs and production dip
Iron ore pellet producer Ferrexpo raised sales 4. 4% over the six months to 30 June to $617m as record price premiums offset a 1. 2% dip in pellet production.
Commodities: Copper, WTI and cocoa futures reel
Commodities were hammered following reports that Washington might be set to ratchet-up the pressure on Beijing in their ongoing trade spat.