Market Pulse - Commodities
One-off charges hammer ABF's bottom line
Associated British Foods posted a big drop in first half earnings as the company's bottom line was hammered by one-off costs, but said full-year profits were still expected to be in line with the prior year's result.
Commodities: Brent climbs, but copper dips as US dollar strengthens
Energy futures continued pushing higher on Tuesday on follow-through buying after the Trump administration decided the day before to cut Tehran's crude oil exports to zero by not extending waivers from its sanctions against countries purchasing oil from Iran.
Rustranscom delays IPO following approaches from private equity
Rustranscom on Tuesday confirmed that it has postponed a planned initial public offering on the London Stock Exchange in favour of a private equity transaction.
Sector movers: Oil&Gas paces gains, but defensives find bid on increased geopolitical risk
Oil&Gas related issues topped the leaderboard in London at the start of the holiday-shortened week, as traders got a chance to react to Washington's decision to act on a previous threat of taking Iranian crude oil exports to zero.
German renewables investor sets sights on LSE for market listing
German investor Aquila is considering the London Stock Exchange as a potential venue for a market listing of its renewable energy fund within the next two months.
Upland Resources 'encouraged' by unsolicited approaches
Upstream oil and gas outfit Upland Resources has received several unsolicited approaches from companies looking to pick up a stake in its Tunisian operations.
Barclays says crude oil gains justified after US pushes for zero Iran exports
Analysts at Barclays Research said Washington's decision to "tighten" the screws on Iran would do the same to the oil market, posing a "material" risk to their 2019 oil price forecasts, while increasing the odds of a potential conflict in the Middle East, but not for the longer term.
Brent and WTI futures jump as US scraps sanctions waivers for Iranian oil
Oil prices rose on Monday after the US announced that countries trading with Tehran must end all imports of crude from Iran or face sanctions.
Jadestone Energy revenue soars on production increase
Jadestone Energy on Thursday reported an annual loss, though its revenues more than doubled following an increase in production and on the back of higher oil prices.
88 Energy progresses with farm-out discussions
Oil and gas outfit 88 Energy continued its conventional farm-out campaign for its Icewine project during the first quarter of the year, with the deadline for bids extended to 31 January due to demand from multiple parties.
China prepping new stimulus package, says Bloomberg
Chinese officials appear to be preparing a stimulus package as they aim to improve sales of items such as cars and electronics after the nation's economy showed signs of reinvigoration on Wednesday.
RBC reiterates 'sector perform' rating on BHP despite disappointing quarter
Analysts at RBC Capital Markets reiterated their 'sector perform' rating on BHP following "another disappointing operational quarter", noting the performance was somewhat already priced in.
Serica Energy gushes higher as output runs ahead of forecasts, cash piles up
Serica Energy's shares leapt on Wednesday after acquisitions and the resumption of key operations led to a jump in annual revenue and profits, with output from the former running ahead of expectations.
US-China deal could give Beijing dangerous trade tool
Treasury Secretary Steven Mnuchin said on Monday that the US agreed with China that the enforcement mechanism of fair trade will be reciprocal, in a move that some observers believed might harm US companies and the World Trade Organization itself.
Coro Energy leaps following Indonesian gas acquisition
Coro Energy's shares stormed on Tuesday after the company completed its obligations to acquire a 15% working interest in the Duyung production sharing contract (PSC) in Indonesia.
Thor Mining kick-starts drilling at Australian tungsten project
Thor Mining on Tuesday commenced drilling at the Bonya tungsten deposits adjacent Molyhil, in the Northern Territory of Australia.
Greatland Gold announces 15-hole Australian drilling programme
Greatland Gold on Tuesday confirmed a 15-hole drilling programme at its fully-owned Firetower project in Tasmania, Australia.
Asiamet delivers 'strong' copper results from Indonesian project
Asiamet Resources on Tuesday reported "strong" copper assay results from an additional infill drilling programme completed as part of the Bankable Feasibility Study (BFS) for the Beruang Kanan Main (BKM) copper deposit in Central Kalimantan, Indonesia.
Commodities: Weak start to the week, US-China trade and global growth concerns in focus
Commodities sagged at the start of the holiday-shortened week, led by losses in the energy space, amid some mixed headlines on the state of US-China trade talks and continuing concerns around the outlook for the global economy.
ECR Minerals kickstarts data analysis at Australian gold project
ECR Minerals on Monday reported that it has commenced analysis of airborne and ground geophysical data from its wholly owned Windidda gold project in Western Australia.