Market Pulse - Commodities
Bitcoin mine found in UK during police raid
A massive bitcoin mine was found in the UK this week following a police raid on a suspected cannabis farm.
Liberum starts Centamin at 'sell', says shares 30 per cent overvalued
Analysts at Liberum started coverage of Centamin shares at 'sell', arguing that while its "strong" balance sheet gave it the resources to finance the turnaround of its flagship gold mine at Sukari, the shares were overvalued at present.
China falls short of agreed purchases of US goods under 'phase one' trade deal
China is falling short on the purchases of US goods needed in order to complete the phase one trade deal that it signed in January 2020 and that is set to wind up in December 2021.
Bitcoin 'time to buy' ads banned in UK for being misleading
A bitcoin ad campaign urging the UK public to buy the crypto was banned by the Advertising Standards Authority which branded it as irresponsible and misleading.
End of Brexit transition period hits total UK trade
The UK's trade in goods with the European Union fell sharply over the last three years, especially at the end of 2020 as the Brexit transition period ended on 1 January.
British banks finance projects that emit 805m tonnes of CO2 annually
Britain’s bank financed projects that emitted 805m tonnes of CO2 in 2019 an amount equal to 1. 8 times the UK’s own annual net emissions over the same period.
Liberty Steel to sell Stocksbridge plant in company-wide overhaul
Liberty Steel Group is to offload a number of its UK plants, including its aerospace and specialist alloys steel business, as it looks to restructure following the collapse of backer Greensill Capital.
Iran - IAEA agree to extend monitoring agreement one month
The United Nations nuclear watchdog (The International Atomic Energy Agency) and Iran agreed on Monday to extend their monitoring agreement by one month.
HSBC boss unconvinced about 'volatile' Bitcoin
The turmoil surrounding Bitcoin intensified on Monday after HSBC said it had no plans to start offering the cryptocurrency to investors.
IEA urges halt to fossil fuel investments to meet emissions targets
The International Energy Agency said on Tuesday that investment in fossil fuels must stop immediately in order to develop an energy sector with net-zero emissions by 2050.
Credit Suisse says markets 'consolidating' not 'correcting'
Stockmarkets are set to consolidate, given that inflation is now "a bit more" of an issue, but they are not headed for a 'correction', says Andrew Garthwaite at Credit Suisse.
Bitcoin slumps after Elon Musk criticises high cost to environment
Bitcoin was unloved in overnight trading after Elon Musk voiced concern about the energy used that was increasingly needed to mine the cryptocurrency.
Biden administration approves first major offshore wind farm in US
The Biden administration has given the green light for the construction and operation of the 800 megawatt (MW) Vineyard Wind 1 project, the first major offshore wind farm in the US.
MoneyGram to let crypto holders cash in investments
MoneyGram is teaming up with cryptocurrency exchange Coinme to allow crypto holders to cash in their investments at locations across the US.
Chinese narrow money supply shrinks in April
China's money supply growth slowed quickly last month as economic authorities tightened monetary and fiscal policy.
Opec reiterates global oil demand forecast for 2021
Opec reiterated its 2021 forecasts for world oil demand on Tuesday, as it nudged its predictions for global economic growth higher.
BioNTech raises sales guidance, touts progress on oncology pipeline
BioNTech revised its full-year sales forecast higher on the back of feverish demand for its Covid-19 vaccine and announced further progress in oncology pipeline.