Opec optimism boosts Brent crude and West Texas Intermediate crude oil prices more than four per cent November 15, 2016 Oil prices rebounded more than four per cent today on renewed hopes of an Opec output cut deal. After falling to a three-month low on Monday, global benchmark Brent crude prices were up 4.3 per cent, or $1.91 cents, to $46.34 this evening, while US sweet crude was buoyed 4.7 per cent, or $2.03, reaching [...]
Exxon has lost over $1 Billion from Russian sanctions October 17, 2016 Exxon has turned into a collateral victim of the U.S. economic sanctions against Russia. So while supermajor BP’s chief executive Bob Dudley said earlier this week that he was “a little saddened” with the way the Deepwater Horizon movie has painted his company, Exxon’s Rex Tillerson has perhaps an even greater reason to be a [...]
These are the FTSE companies with the highest and lowest chief executive pay ratios March 15, 2017 With AGM season around the corner, and remuneration set to be a top issue for investors, chief executive pay ratios could again be about to come under the microscope. And while the certain retailers could feel the heat, a number of City firms should be able to rest easy. Pensions & Investment Research Consultants (Pirc) has drawn [...]
Oil producers set time and place for second production freeze meeting – Nigeria’s oil minister March 3, 2016 The second meeting of the Organization of Petroleum Exporting Countries (Opec) and non-Opec producers are planning to meet in Russia on 20 March to continue talks on freezing oil output, according to Nigeria’s oil minister Emmanuel Kachikwu. At the first meeting in February, brokered by de facto Opec leader Saudi Arabia; Russia, Qatar and Venezuela agreed they would cap their [...]
Saudi Arabia will go ahead with production freeze deal in April without Iran, sending the oil price up 50 per cent in just two months March 22, 2016 Saudi Arabia has signalled it will go ahead with a deal with Russia and other Organization of the Petroleum Exporting Countries (Opec) members to freeze production in April despite Opec rebel Iran vowing to continue to increase output. The deal, which already includes Venezuela and Qatar, is scheduled to be finalised at a meeting in Doha [...]
Oil eyes yearly price highs despite US stockpiles rising, and denials Opec will cut production March 6, 2016 The price of oil is set to record fresh highs for 2016 this week, despite comments from the Saudi Arabian oil minister that the de facto Organization of the Petroleum Exporting Countries (Opec) leader will not cut its production and stubbornly high reserves of oil in the US. Saudi Arabia will maintain its oil market [...]
FTSE reshuffle: Three blue-chip relegations are on the cards this week November 28, 2016 A Russian gold producer, a builders’ merchant and a shopping centre owner could face relegation from the FTSE 100 this week. Building materials company Travis Perkins, which issued a profits warning in October, Polymetal International, which has suffered due to a gold price drop since the US election, and shopping centre owner Intu, whose shares have [...]
FTSE reshuffles confirmed: Convatec and Smurfit Kappa replace Travis Perkins and Polymetal International in blue-chip index November 30, 2016 Medical products company Convatec has successfully made its way into the FTSE 100 after floating on the London Stock Exchange’s main market at the end of October. Convatec will be joined by Irish packaging firm Smurfit Kappa on the blue-chip index tomorrow morning. Making way are building materials company Travis Perkins, which was forced to [...]
Shares in the leading Coca-Cola bottling firm are fizzing as profit shoots up February 16, 2017 Leading drinks bottler Coca-Cola Hellenic Bottling Company (HBC) today reached the top spot on the FTSE 100 risers' board as it announced its profit beat expectations yet again. The figures The soft drinks bottler's net profit jumped 22.5 per cent to €343.5m (£292.3m) from €280.3m for the year ended 31 December 2016. Net sales revenue lifted three per cent [...]
Oil prices shake off losses as Opec deal optimism returns October 10, 2016 Oil prices reversed earlier losses this afternoon reflecting rising optimism about an agreement among Opec producers to curb record output levels. Brent crude, the global benchmark, increased 1.35 per cent to $52.63 per barrel, while West Texas Intermediate crude swelled 1.45 per cent to $50.53. Both benchmarks had fallen in mid-morning trading. It was buoyed after Saudi Arabia's energy minister, [...]