Market Pulse - Commodities
Edenville loss widens after challenging year
Edenville Energy's annual loss widened as costs vastly outstripped revenue in what the mining company described as a challenging year.
Tesla believer Jefferies slashes price target but still recommends buy
Firm Tesla believer Jefferies admitted on Friday that they “had got it wrong this year” and cut their target price on the electric carmaker's shares by 25% (from $400. 00 to $300. 00) to reflect "delayed improvements".
Fossil fuels power less than half of UK electricity for the first time
Clean energy sources are set to overtake fossil fuels as the top UK electricity generator this year for the first time since the industrial revolution.
Moody's reduces Fresnillo outlook to 'stable'
Moody's has reduced its outlook on Fresnillo's debt to 'stable' from 'positive' citing negative free cash flow expectations and the company's exposure to Mexico.
SolGold jumps after Ecuador's constitional court strikes down proposed referendum on mining
Shares of gold and copper miner SolGold jumped at the end of the week after Ecuador's constitutional court rejected a proposal for a referendum on mining in various provinces in the South American country in which the outfit operates, even if on technicalities.
Gulf Keystone annual production target intact
Gulf Keystone Petroleum left its annual production target intact as the oil and gas producer said daily activity would be towards the bottom of guidance.
EU extends sanctions on Russia until 2020
European Union leaders decided on Thursday to extend the bloc's economic sanctions on Russia over the ongoing turmoil in Ukraine into 2020 .
Director dealings: Evraz's chairman and CEO both sell shares
Evraz's chairman and chief executive officer reduced their stakes in the company just four days after shares of the steelmaker had notched-up fresh record highs.
US shoots down Iranian claim drone violated its airspace
Iran’s Islamic Revolutionary Guards Corps shot down a US drone on Thursday claiming that it had violated the country’s airspace.
Philly Fed index drops much more sharply than expected in June
Factory sector activity in the US mid-Atlantic region cooled a tad last month amid worries over global trade frictions, mainly between the US and Mexico, but some economists were expecting a rebound following the recent resolution of that dispute, subject to a thawing in the trade relationship between Washington and Beijing.
Commodities: Energy futures, copper slip ahead of US Fed
Commodity prices weakened on Wednesday following the release of data showing a larger-than-expected build in weekly US crude oil and product inventories, even as investors waited on the result of the Federal Reserve's policy meeting.
Rio Tinto downgrades iron ore guidance again
Rio Tinto has downgraded its full-year iron ore shipments guidance due to mine operational challenges.
Ormonde Mining's losses widen ahead of 'challenging' year
Ormonde Mining's shares slid on Wednesday after reporting a wider annual loss on the back of a jump in administrative expenses and after notifying that initial ore mined from the Barruecopardo Tungsten Project's northern starter pit has been lower grade than anticipated.
Lekoil swings to profit as Otakikpo ramps up
Lekoil on Wednesday swung to an annual profit as revenue climbed after production at the Nigerian Otakikpo oil field ramped up.
Barclays reiterates 'top pick' for Royal Dutch Shell, labels shares "attractive"
Barclays reiterated its choice of Royal Dutch Shell as its 'top pick' in the the European Integrated Oil and Refinancing space, labelling the 9%-plus dividend and buyback yield on which Shell shares were trading "attractive" and reiterating its 3,250. 0p target price.
CYBG confirms Virgin Money name change amid further cost-cutting
CYBG on Wednesday said it will change its name to Virgin Money UK PLC before the end of the year as it outlined further cost-cutting objectives.
US dispatches 1,000 more troops to Middle East as tensions with Iran rise
The US government is sending an extra 1,000 troops to the Middle East in response to rising tensions with Iran and its “hostile behaviour”.
Sector movers: Autos&Parts, Miners higher on hopes for Trump-Xi meetings
Cyclicals jumped higher after the US President said he had a "very good" telephone conversation with his Chinese counterpart Xi Jinping and that they would indeed meet during the -20 leaders' summit in Fukuoka, Japan, on 28-29 June.
Trump and Xi to meet at G-20 in Fukuoka
The US president and his Chinese counterpart will meet during the G-20 leaders' summit in Fukuoka, Japan, according to a post on the former's account on social media platform Twitter.
Berenberg raises Acacia to 'hold' as Barrick deadline draws near
Analysts at Berenberg upgraded their recommendation for shares ofTanzania-focussed gold miner Acacia Mining from 'sell' to 'hold' on Tuesday, highlighting the potential to reap increased value even beyond its own forecasts.