Market Pulse - Commodities
JP Morgan sees Brent oil price 'overshoot' to $150 per barrel in 2023
Analysts at JP Morgan predicted that underinvestment in new oil production capacity was set to drive Brent crude oil prices to $125 per barrel in 2022 and $150 in 2023.
China pledges 1.0bn Covid-19 vaccine doses for Africa
China announced its intention to supply a further one billion doses of its Covid-19 vaccines to African countries on Monday.
Russian energy minister warns against 'hasty' decisions on oil output
Russia's energy minister cautioned on Monday against hasty decisions in the wake of the discovery of the Omicron variant of Covid-19.
Spanish CPI hits near three-decade high in November
The cost of living in Spain hit a near three-decade high in November on the back of rising food and gasoline prices.
New Covid variant triggers alarm bells around the world
Authorities in the UK and many other European countries moved quickly to cut travel links with South Africa and several other countries in southern Africa following the detection of a new variant of Covid-19 with a large number of mutations on the so-called 'spike' protein.
US foreign trade deficit falls sharply in October
America's shortfall on trade with the rest of the world dropped sharply last month amid a jump in exports.
BoA downgrades Hochschild Mining to 'underperform' after Peru announces plans to close two mines
Analysts at Bank of America downgraded their recommendation for shares of Hochschild Mining from 'buy' to 'underperform', marking down their target price from 280. 0p to 90. 0p in the process.
Rouble weakens as US intel shows plans for potential Ukraine invasion
The rouble was under pressure again at the start of the week following reports detailing Russian troop and artillery movements which some fear could presage a large-scale push into Ukraine.
German producer prices climb at fastest clip since 1951 on commodity price gains
Producer price gains in the euro area's largest economy clocked in at their fastest pace in over seven decades last month, as commodity prices continued climbing higher.
US foreign trade deficit yawns wider in September
America's shortfall on trade with the rest of the world ballooned in September amid a sharp drop in overseas sales.
Order growth at German factories undershoots forecasts in September
Order growth in German factories undershot economists' forecasts in September, despite solid readings for auto and capital goods orders.
Genel hikes interim payout but guides lower on full-year oil production
Genel Energy hiked its interim dividend by 20% on the back of rising oil prices and burgeoning cash flow, even as it reported delays to testing programmes at the Sarta and Qara Dagh oil fields and guided lower for full-year output.
US services expand at a record pace in October, ISM says
Activity in America's services sector expanded at a record pace last month even as businesses ran into capacity constraints at an increased pace, the results of a closely-followed survey revealed.
Liberum upgrades Anglo American to 'buy', cites capex in ESG-friendly copper
Analysts at Liberum upgraded their recommendation for shares of Anglo American from 'hold' to 'buy', describing it as the sole "pro-growth major" in its space.
ShoreCap stays at 'buy' on StanChart, says shares most undervalued in UK peer group
Analysts at ShoreCap reiterated their 'buy' recommendation for shares of StanChart, telling clients that it remained the most undervalued lender in its UK banking universe.
Bank of America revises near-term oil price forecasts higher
Bank of America's US oil equity analysts have revised their near-term crude oil price forecasts higher and believe that there is a case to be made that oil could trade in a $70-100 a barrel range for an extended period.