Market Pulse - Commodities
AstraZeneca, Oxford University team up to develop Covid-19 vaccine
Pharma giant AstraZeneca said it had teamed up with the University of Oxford to develop and distribute a potential coronavirus vaccine with the first results from clinical trials set to arrive over the next few months.
Fed acknowledges medium-term risks to economy from Covid-19 crisis
Americans can rest assured that the Federal Reserve will do its utmost to maintain loose monetary policy until the economy is firmly on the path to recovery, US rate-setters said.
US Q1 GDP crashes as consumption and business investment collapse
The US economy shrank sharply and more quickly than expected at the start of the year, even before being hit by the full force of the Covid-19 pandemic.
RBC hikes target for Polymetal citing 'positives' from Analysts Day
Analysts at RBC Capital Markets hiked their target price in shares of gold miner Polymetal in the wake of the Analysts Day held the day before.
WTI oil futures bounce as API reports smaller than expected stockpile build
Crude oil futures were trading higher on Wednesday on either side of the Atlantic following the release of data showing a slightly smaller than expected build in US stockpiles.
Europe close: Stocks up despite wariness about premature lockdown liftings
Lenders' shares paced the advance on the Continent as the number of Covid-19 infections and deaths continued to slow in most countries, paving the way for governments to gradually ease their lockdown measures.
US goods trade deficit yawns wider in March
America's shortfall on trade in goods with the rest of the world yawned wider still last month amid a sharp drop in exports.
Apple set to sell Macs using own chips starting in 2021
Apple plans to start selling Mac computers that use its own chip processors starting from 2021.
Weekly US oil inventories jump, imports slip
US crude oil inventories registered another sharp rise during the previous week, although there were some slight signs that market fundamentals were starting to align themselves with the reduced amount of storage capacity left.
Trump calls for relief for US oil and gas industry, OPEC calls meeting
US President Donald Trump reiterated his support for America's oil and gas industry on Tuesday, saying his administration was working on relief measures for the sector.
US oil slides back into negative territory as turmoil continues
The price of oil for May delivery slid back into negative territory on Tuesday, as modest improvements overnight receded and June contracts started to come under pressure.
BofA hikes target for gold 18 months ahead by half
Strategists at Bank of America hiked their target for gold prices in 18 months' time by half in anticipation of central banks and governments doubling the size of their balance sheets and fiscal deficits, respectively.
Europe open: Stocks caught in downdraft from oil price collapse
Stocks on the Continent are trading lower, dragged down by the oil patch as markets price-in the reality of several months of exceedingly weak global oil demand.
Week ahead: EU leaders' summit, claimant count in focus
Europe's government debt markets will be in the spotlight over the coming week amid the recent rise in euro area periphery debt yields.
JP Morgan stays at 'neutral' on Petrofac despite cancellation of Dalma contract
Analysts at JP Morgan stuck to their 'neutral' recommendation for shares of Petrofac, despite news that the Abu Dhabi National Oil Corporation had cancelled the $1. 5bn Engineering, Procurement and Construction for the Dalma Gas Development Project.
Ascent Resources names new CEO, expands into Cuba
Onshore oil and gas company Ascent Resources appointed Andrew Dennan as its chief executive officer on Tuesday as it announced the first acquisition under the group's strategy of international expansion.
Week ahead: US/China data, OPEC+ in focus
The market spotlight over the coming will be on a slew of economic indicators in the US and China referring the months of March and April, and therefore the initial impact of the Covid-19 pandemic on those two economic powers, two of the world's largest.
Saudi and Russian Federation agree on oil output cuts, Journal says
Moscow and Riyadh have reached an agreement in principle to cut their crude oil output.
Credit Suisse says BHP dividend safe even in 'more extreme' scenarios
Analysts at Credit Suisse cut their target price for shares of BHP Billiton from 1,900. 0p 1,600. 0p but upgraded their recommendation from 'neutral' to 'outperform'.
Norway may join OPEC+ in cutting output, Canada will dial into summit
Norway may cut its oil production alongside other major producers if an agreement for a significant combined reduction can be reached.