Market Pulse - Commodities
Shell beats on Q2 profits, announces $2.0bn share buyback
All of Royal Dutch Shell's key financial metrics headed in the right direction over the second quarter, with the company announcing a dividend increase and share buyback programme as a result.
Berenberg on Shell stays at 'buy' on Shell after 'strong' Q2 numbers
Analysts at Berenberg reiterated their 'buy' recommendation for shares of Royal Dutch Shell following the outfit's second quarter numbers.
Qatar sovereign wealth fund takes minority stake in Airtel Africa
Qatar's sovereign wealth fund will take a minority stake in Airtel Africa's mobile money unit.
US consumer confidence slips in July amid higher prices, U.Michigan says
Americans were a bit less cheerful in July amid complaints about higher prices for homes, vehicles and household durables.
Friday broker round-up
Royal Dutch Shell: Berenberg keeps at'buy' but raises target price from 1,570. 0p to 1,720. 0p.
Vesuvius's end markets continue rebound in H1, company gains market share
Vesuvius posted better than expected interim profits as end markets continued to rebound from the Covid-19 pandemic.
US visible trade deficit rises in June due to petroleum imports
America's shortfall on trade in goods with the rest of the world continued widening last month.
Rio Tinto says free cash flow nearly quadruples in H1, some analysts unimpressed
Rio Tinto reported blow out first half numbers as the combination of government stimulus and strong demand amid constrained supply triggered a "significant" spike in most commodity prices.
BHP tables all-cash bid for Canada's Noront Resources
BHP looked to have beat out Australian magnate Andrew Forrest in taking control of Canada's Noront Resources.
BHP plotting retreat from oil
BHP was reportedly mulling how to extract itself from the oil and gas space while valuations were still supportive.
Tuesday broker round-up
Central Asian Metals: Canaccord Genuity initiates coverage at 'buy' with 280. 0p target price.
Canaccord starts Central Asian Metals at 'buy', expects big excess cash generation
Analysts at Canaccord Genuity initiated coverage of Central Asia Metals at 'buy', pointing out to clients the long life of the miner's main assets, los cash costs and consistent output.
Morgan Stanley stays 'overweight' on Shell, expects dividend to grow again
Analysts at Morgan Stanley reiterated their 'overweight' stance on shares of Royal Dutch Shell in anticipation of share buyback announcements and higher dividend payouts from the oil major.
Crude oil futures under pressure after OPEC+ deal at the weekend
Crude oil futures slid at the start of the week after the Organisation of Petroleum Exporting Countries ad its main allies clinched a deal at the weekend to increase their combined output.
JP Morgan prefers ITM Power over NEL ASA, stays 'overweight' but cuts target
Analysts at JP Morgan told clients they preferred shares of ITM Power over those of rival NEL ASA, arguing that the latter would be a relative winner among electrolyser original equipment manufacturers in the back half of 2021.
China GDP growth holds up better than expected in June
Economic growth in the People's Republic of China held up better than expected in June, although economists pointed to certain inconsistencies in the data.
Central Copper Resources plots placing and AIM float to advance project in DRC
Central Copper Resources is looking to raise equity to finance the development of its mines and exploration work in Central Africa via a placing and flotation on AIM.
Chinese 'narrow' money supply growth slowed further in June
Chinese money supply growth slowed more sharply than expected last month, but some economists warned against reading too much into the latest figures.
PBoC cuts lenders' reserve requirement ratio
The People's Bank of China lowered the amount of reserves that the country's lenders need to keep on hand as reserves in a bid to keep financial conditions from tightening.
Bank of America creates dedicated cryptocurrency research team
Bank of America has put together a dedicated team for cryptocurrency research in a further sign of the asset class's increasing acceptance on Wall Street.