The upcoming OPEC-led meeting of the world’s leading oil producers in Algiers throws up the possibility of seeing a production freeze for the long-suffering crude oil market. With prices in the midst of a $45.5 to $50 price range this September, the potential for a reaction from Saudi Arabia et al. during the September 26-28…
The UK 100 looks set to close 1% to the bad this week, maintaining its downtrend from late last week. However, it would be grossly unfair to leave you thinking only negatives as we move into the weekend. Even if the media does its best in tomorrow’s papers to focus on the handsome group of…
Shares in Royal Bank of Scotland (RBS) are proving the biggest drag on the UK’s UK 100 index this morning. This is after overnight news of a $14bn US legal challenge against German giant and sector peer Deutsche Bank for the mis-selling of retail mortgages backed securities (RMBS) that contributed to the financial crisis. This is never…
16 Sept Proactive Investors Accendo Markets said of the Deutsche news: “This is never good news for a sector so intricately linked, especially when aimed at making an example of Europe’s largest (it’s almost equivalent to its market cap!), suggesting that an end to all those years of litigation is a way off yet.” It added:…
Shares in publisher and exhibitions company Informa (INF) are doing the same as tech-darling Micro Focus’ (MCRO) did last week. Not quite gains of 15% but nonetheless bucking tradition to post mild gains despite a chunky £1.2bn acquisition equating to 26% of its own market cap. One would normally expect an acquirer’s share price to…
Copper proxy Glencore (GLEN) is top of the UK 100 pile this morning thanks to the bottoming out and rebound from $4600/tonne over of the last month, seeing the price of the red metal challenge September’s highs just shy of $4,700 and a bugbear 2-month trend of falling highs. The latest leg up maintains the…