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London pre-open: All eyes on the US Federal Reserve

Thu, 17th Sep 2015 07:39

(ShareCast News) - All eyes are on the US Federal Reserve ahead of today's open and whether or not it will decide to move on interest rates for the first time since 2006.Economists seem split roughly down the middle but futures markets are far more sceptical, attaching a probability of roughly just a quarter to such an outcome.However, back then consumer price inflation was running at a 4% year-on-year clip versus 0.2% at present and unemployment was also lower, points out the Financial Times's John Authers in an article entitled "US rat rise harder to justify nine years on".Against the above backdrop, the top flight index was being called to start the day up to 33 points stronger.The US central bank is also set to release a new set of macroeconomic projections which will help to inform markets, as will Fed president Janet Yellen's press conference at 20:00 BST.Deutsche Bank's Joe Lavorgna is of the view that the Fed will refrain from raising rates this time around but continue to hold out the possibility of rate rises perhaps even as soon as the next meeting, in October.That is despite warnings from the likes of broker Citi that a global growth recession centered on emerging markets and China is likely over the next two years.Yellen's decision will be preceded by a host of economic data, including the Federal Reserve bank of Philadelphia's survey of manufacturing conditions.In the UK, investors are waiting on the release of the latest retail sales figures, courtesy of ONS, at 09:30.Over on the Continent, the Swiss National Bank will announce its policy decision at 08:30, although no change in rates is expected.Canberra throws sands in the gears of BG Group/Royal Dutch Shell tie-up The Australian Competition and Consumer Commission has raised concerns that a merger between Royal Dutch Shell and BG Group could boost prices and reduce the supply of natural gas to consumers on the east coast of Australia. The regulator, which is seeking further submissions from the market before a final decision is made on 12 November, noted that Shell the largest quantity of uncommitted gas reserves in eastern Australia and there are a limited number of other potential suppliers to the domestic market.Phoenix Group Holdings has confirmed rumours that it has begun non-exclusive talks about acquiring Guardian Financial Services. The FTSE 250-listed closed life and pension fund consolidator said in a statement Thursday that it was "evaluating" the smaller rival as part of an on-going sale process.Technology product distributor Premier Farnell reported a 13.7% fall in interim pre-tax profits to £30.6m as it warned that slowing momentum would mean the company's second half operating profits coming in at lower than forecasts. The company said full year adjusted operating profit was now expected to be in the range of £73m to £77m.
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16 Dec 2021 22:13

UPDATE 2-Royal Dutch Shell confirms delay in sale of Texas refinery to Mexico's Pemex

(Adds approval expected by Jan. 13)By Stefanie Eschenbacher and Erwin SebaMEXICO CITY/HOUSTON, Dec 16 (Reuters) - Royal Dutch Shell on Thursday confirmed a Reuters report that the sale of its controlling interest in a Texas refinery to Mexican stat...

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16 Dec 2021 14:42

Latin American oil auctions kick off after two-year lull

* 11 firms registered to bid in Brazil's auction on Friday* Competition expected to be fiercest since 2018* Seven Latin American nations to hold auctions in 2022-2023By Marianna Parraga and Sabrina ValleHOUSTON, Dec 16 (Reuters) - Latin America's oil...

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15 Dec 2021 12:16

Five companies seek to develop CO2 storage off Norway

OSLO, Dec 15 (Reuters) - Five companies have applied to build carbon dioxide (CO2) storage on the Norwegian continental shelf, the country's oil and energy ministry said on Wednesday.The ministry proposed in September two offshore areas, one in th...

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15 Dec 2021 10:10

UPDATE 2-FTSE dips as inflation surges to 10-year high

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* IAG down on plans to cancel Air Europa acquisition* Rentokil falls for second day on M&A plans* Inflation jumped to 5.1% in Nov vs. 4.2% in...

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15 Dec 2021 09:33

LONDON BROKER RATINGS: BofA starts Pod Point at Buy; Barclays cuts DCC

LONDON BROKER RATINGS: BofA starts Pod Point at Buy; Barclays cuts DCC

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14 Dec 2021 09:40

LONDON BROKER RATINGS: JPMorgan raises Experian, cuts BAE Systems

LONDON BROKER RATINGS: JPMorgan raises Experian, cuts BAE Systems

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13 Dec 2021 16:10

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

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13 Dec 2021 11:48

Brazil's oil regulator approves Mero oilfield production agreement

SAO PAULO, Dec 13 (Reuters) - Brazilian state-run oil company Petrobras said on Monday that the country's oil regulator ANP has approved a production agreement for the Mero oilfield, deciding on which stake of its oil and gas output will be hold ...

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13 Dec 2021 10:16

UPDATE 2-Energy, bank stocks drag London's FTSE 100; Omicron fears weigh

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Purplebricks plunges after delaying results* SThree drops as CEO steps down* FTSE 100 down 0.8%, FTSE 250 off 1.2% (Updates to close)By Ba...

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13 Dec 2021 07:22

Qatar Energy acquires 17% stake in Shell-operated concessions in Egypt

DUBAI, Dec 13 (Reuters) - Qatar Energy will acquire a 17% stake in two Shell-operated concessions (Block 3 and Block 4) in Egypt's Red Sea region, Shell Egypt said on Monday.Shell will remain the main operator of the concessions, Shell Egypt's st...

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12 Dec 2021 14:00

Activist group targets Exxon with shareholder climate resolution

* Follow This targets Exxon for first time* Dutch group also targets other energy companiesBy Ron Bousso and Sabrina ValleLONDON, Dec 12 (Reuters) - Climate activist group Follow This targeted Exxon Mobil Corp with a shareholder resolution urging i...

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10 Dec 2021 23:26

UPDATE 1-Shell restarting Louisiana refinery crude unit after repairs from Hurricane Ida -sources

(Adds no reply from company)HOUSTON, Dec 10 (Reuters) - Royal Dutch Shell Plc was restarting on Friday the crude distillation unit (CDU) at its 230,811 barrel-per-day (bpd) Norco, Louisiana, refinery after completing repairs from Hurricane Ida, sa...

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10 Dec 2021 20:44

Shell restarting Louisiana refinery crude unit after repairs from Hurricane Ida -sources

HOUSTON, Dec 10 (Reuters) - Royal Dutch Shell Plc was restarting on Friday the crude distillation unit (CDU) at its 230,811 barrel-per-day (bpd) Norco, Louisiana, refinery after completing repairs from Hurricane Ida, said sources familiar with pl...

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10 Dec 2021 16:57

Can we still be friends? Shell sends Dutch PM parting note

By Toby SterlingAMSTERDAM, Dec 10 (Reuters) - On the day that shareholders of Royal Dutch Shell PLC voted to move the company's headquarters to London https://www.reuters.com/markets/europe/royal-dutch-shell-plc-shareholders-set-approve-move-london...

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10 Dec 2021 15:29

Belarus oil firm cancels 2022 exports to Germany after EU sanctions - traders

MOSCOW, Dec 10 (Reuters) - Belarusian oil company Belorusneft has cancelled its 2022 export plans to Germany via the Druzhba pipeline following new European Union sanctions on the company, three traders familiar with the matter said on Friday.On ...

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