Market Pulse - Commodities
Yellow Cake's maiden profit nears $30m after uranium price climbs
Yellow Cake posted a maiden annual profit of $29. 7m as the value of its uranium holdings increased by 22% to $217. 4m.
Commodities: Energy futures slip as OPEC+ fails to agree on date for next summit
Energy futures slipped on Monday following the release of unexpectedly weak readings on the Empire State manufacturing sector index and for the NAHB housing market index in the States, and as ministers from the Organisation of Petroleum Exporting Countries continued to try and agree on a date for their next meeting, possibly in early July.
Morgan Stanley turns 'incrementally more bearish' on British American Tobacco
Analysts at Morgan Stanley downgraded industry giant British American Tobacco to 'underweight' on Sunday, noting that, in its view, the threat of a "maximum nicotine policy" in the US had not been reflected in the group's share price.
US Chamber of Commerce pushes for end to trade war
The US Chamber of Commerce called on the Trump administration to stop its trade war against China, pointing to an estimated $1trn in costs over the next decade as its main argument.
US pre-open: FOMC meeting in focus, Wilbur Ross downplays chances of major deal
Wall Street futures were tracking slightly higher ahead of the open on Monday, with investors looking ahead to a key meeting of the Federal Reserve later in the week even as the upcoming G-20 leaders' summit in Japan loomed ever closer.
Petro Matad's loss almost doubles on higher exploration costs
Mongolia-focused oil explorer Petro Matad on Monday reported that its annual loss almost doubled, though the drilling of two exploration wells was completed on schedule and within budget.
Rouble strengthens after Russian central bank cuts rates, as expected
Russia's central bank took back its late 2018 pre-emptive interest rate hike as it revised its near-term forecasts for inflation and economic growth lower, leaving the door open to a another rate cut at one its next board meetings and a possible shift to a "neutral" policy before mid-2020.
Broadcom warns on impact of trade uncertainty, Huawei restrictions
US chip maker Broadcom turned cautious on the outlook for the back half of 2019 on Thursday, citing the "continued geopolitical uncertainties" and the impact of export restrictions on one of its largest customers, presumably Chinese telecoms equipment manufacturer Huawei.
Brent crude oil futures jump on reports of tanker on fire in Sea of Oman
Crude oil futures jumped on the back of reports that two oil tankers off the coast of Fujairah, in the Sea of Oman, were on fire.
Trump doesn't specify deadline for new tariffs on China
US President Donald Trump declined to set a deadline on Wednesday for the latest tariffs he is planning to impose on Chinese goods.
Polymetal more than doubles ore reserves at Veduga
Miner Polymetal International saw ore reserves at its Veduga gold deposit more than double to 2. 8m ounces following an extensive exploration campaign at the site.
Sector movers: Oil and tobacco stocks at the bottom of the pile
Companies in the oil patch were unwanted on Wednesday, after US government data showed an unexpected rise in the country's oil inventories and trade uncertainty weighed on the entire complex.
Commodities: WTI, copper slip amid trade tensions and rising US dollar
Energy futures slid on Wednesday amid the ongoing trade stand-off between the US and China and against the backdrop of a strengthening US dollar.
WTI drop as DoE reports unexpected rise in oil stockpiles
Commercial crude oil stockpiles in the US rose unexpectedly during the prior week, government data revealed despite a decline in net imports and domestic output.
Shell will have to prove ability to preserve returns, Jefferies says
Analysts at Jefferies nudged their target price for Royal Dutch Shell's A shares higher, from 3,000p to 3,050p, telling clients that the company would have to demonstrate its ability to preserve returns even as it invests in its low-carbon businesses, even as they labeled the potential for shareholder returns "compelling".
UK government commits to net zero carbon emissions by 2050
The UK has committed to reach net zero carbon emissions by 2050 and will become the first G7 country to legislate the proposal.
Trump urges China to adhere to already agreed terms on trade or risk more tariffs
President Donald Trump said that China must adhere to the terms of the trade deal that it had agreed to earlier in 2019 or risk a no-deal and higher tariffs.
China CPI picks up in May, but underlying inflation muted
Consumer level inflation in China picked up last month as pork prices increased at their fastest pace for 35-months, but underlying price pressures in fact slowed, pointing to still lacklustre demand, according to analysts.
Brussels blocks Tata-ThyssenKrupp tie up
The European Commission blocked a proposed merger between India’s Tata Steel and Germany’s ThyssenKrupp.
Investors positioning for a likely recession in Germany, Sentix says
Investor sentiment towards nearly all regions soured last month, after US-China trade tensions escalated, and could drag Germany into recession, according to the results of a widely-followed survey.