Market Pulse - Commodities
Sector movers: Tobacco and oilfield services pace gains
Defensive and cyclical issues competed for the top rungs of the sector leaderboard at the start of the week, as investors returned from the long weekend in the States and debated the outlook for near-term easing by the US central bank and hence for stocks.
BP solar unit searches for 'most reflective grass' to boost energy output
BP’s solar subsidiary Lightsource is conducting experiments with “bi-facial” panels to catch reflected light off the ground.
Trump warns Iran to 'be careful' as it prepares to ramp-up uranium enrichment
Donald Trump has warned Iran to “be careful” after the Islamic Republic threatened to enrich uranium to 20% purity after it breached the limits established by the 2015 nuclear deal during the previous week.
Barclays spies bottom of the cycle for European oilfield services
Analysts at Barclays Research reiterated their 'positive' view on the European Oil Services&Drilling sector, taking issue with the fact that it had traded as a proxy for the oil price even as major projects have begun to come to market, so that activity for the beginning of the following decade was firming up.
China's Wang argues for country to stay course on global integration
A top Chinese official called on Monday for greater global economic integration, arguing that the best path forward for his country was to seek to develop through reform and innovation and that it was "determined to open up to learn the advantages of other nations".
Hardide receives 'major' new orders from mystery US oil and gas firm
Advanced surface coating technology group Hardide has received major orders to coat components for a relatively new American multinational oil and gas customer.
Active Energy raises £3.43m for Lumberton site
Biomass-based renewable energy business Active Energy raised £3. 43m on Monday after both existing and new European and Asian institutional investors made a further subscription for series B convertible loan notes.
Army brought in to tackle illegal copper miners in DRC
The Democratic Republic of Congo has brought in the army after the death last month of more than 40 illegal miners at the Glencore-owned Kamoto copper and cobalt mine.
Commodities: Gold futures slip as US dollar jumps, Brent higher after Iranian threats
Metals futures took a hit at the end of the week on the heels of a better than expected report on the state of the US jobs market, but energy futures gained after a member of Iran's Revolutionary Guards called on his government to seize a British oil tanker in retaliation for the recent detention of an Iranian vessel when it was crossing the Strait of Gibraltar.
Week ahead: US-China trade talks, Fed's Powell in focus
US and China trade talks will be in the spotlight over the coming week, following reports of already ongoing talks by phone and that face-to-face conversations are to be scheduled.
Chinese steel mills band together against rising iron ore prices
Leading Chinese steel firms have banded together to investigate whether or not "non-market factors" were driving recent record iron ore prices as they called on the government to maintain stability across the market.
Regal Petroleum's second quarter production gushes higher
Regal Petroleum reported an increase in second quarter production on Friday, with double digit increases at its Mekhediviska-Golotvshinska (MEX-GOL), Svyrydivske (SV) and Vasyschevskoye (VAS) gas and condensate fields.
Jaguar Land Rover to build electrified car range in UK
Jaguar Land Rover will build range of new electrified cars at its Castle Bromwich plant in Birmingham, starting with the next-generation all-electric Jaguar XJ, the company confirmed on Friday.
Commodities: Brent and copper dip amid thin trading volumes, growth concerns
The commodities space saw lacklustre trading on Thursday despite optimism around the US-China trade talks, what with many traders in the City opting to mimic their counterparts in the States, who were away from their desks on account of the 4 July holiday.
DekelOil shares slump despite 'best ever' half
West African focused agricultural company DekelOil witnessed its "best ever" first-half crude palm oil production in the six months ended 30 June after sales jumped during a record second-quarter.
Fox Marble inks 10,000 tonne sale agreement with Chinese customer
Fox Marble on Thursday entered into a new sales agreement for a minimum of 10,000 tonnes of Illirico Selene marble over the next year with a customer based in China.
UK car registrations fall for fourth consecutive month
Data released on Thursday showed that total new car sales have declined for the fourth month in a row in June, while alternatively fuelled vehicle demand dropped for the first time in 26 months.
US must remove tariffs for trade deal to happen, Chinese official says
Washington will have to remove its existing tariffs if it wants to close a trade deal with Beijing, a top Chinese official said.
Berenberg retains hold on Centamin, long-term guidance for Sukari imminent
Berenberg has reiterated its ‘hold’ recommendation on Centamin, but said there remained potential for the gold producer to beat forecasts, highlighting the importance for the company's outlook of what it expected to be the imminent release of longer-term guidance for its flagshio Sukari mine.
ShoreCap upbeat on outlook for Sirius Minerals
Analysts at ShoreCap sounded an upbeat note on the prospects for Sirius Minerals, the outfit developing the world's largest polyhalite deposit, in North Yorkshire.