Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksShell Share News (SHEL)

Share Price Information for Shell (SHEL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,946.00
Bid: 2,942.50
Ask: 2,943.50
Change: 37.50 (1.29%)
Spread: 1.00 (0.034%)
Open: 2,922.50
High: 2,949.00
Low: 2,922.50
Prev. Close: 2,908.50
SHEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: European markets flat ahead of Fed and BoE

Tue, 19th Mar 2024 11:52

(Alliance News) - Stock prices in London were down at midday on Tuesday, as investors sat on their hands ahead of interest rate decisions from the UK and US.

Amongst individual stocks, Unilever was boosted by cost saving plans. Oil prices also gave BP and Shell a boost.

The FTSE 100 index was down 20.42 points, 0.3%, at 7,702.13. The FTSE 250 was down 76.27 points, 0.4%, at 19,410.26, and the AIM All-Share was down 1.31 points, 0.2%, at 735.32.

The Cboe UK 100 was down 0.3% at 771.13, the Cboe UK 250 was down 0.5% at 16,824.10, and the Cboe Small Companies was up 0.2% at 14,801.63.

In European equities on Tuesday, the CAC 40 in Paris was up 0.1%, while the DAX 40 in Frankfurt was up marginally.

Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.2%, the S&P 500 index down 0.4%, and the Nasdaq Composite down 0.5%.

"European markets were flat and future prices imply a lacklustre session from the US when its markets open later on. Investors are likely to be sitting on their hands until the Fed unveils its latest interest rate decision tomorrow. A rate cut looks unlikely at this meeting so the big focus will be on economic projections and how many rate cuts we might see later in the year," AJ Bell's Russ Mould.

The US Federal Reserve will announce its interest rate decision on Wednesday. The Bank of England will follow on Thursday. Both are expected to keep interest rates unchanged.

Equities in Japan got a boost on Tuesday, after markets saw the first interest rate hike in 17 years. Japan's Nikkei 225 closed up 0.7%.

The Japanese central bank said it judged that its monetary easing policy and yield curve control programme have "fulfilled their roles". It raised its short-term policy rate to a range of 0.0% to 0.1%, from minus 0.1% previously. The move marks the BoJ's first interest rate hike in 17 years, as the central bank becomes the world's last to end negative rates.

The pound was quoted at USD1.2691 at midday on Tuesday in London, lower compared to USD1.2722 at the equities close on Monday. The euro stood at USD1.0849, down against USD1.0877.

Against the yen, the dollar was trading at JPY150.42, higher compared to JPY149.12.

In the FTSE 100, Unilever rose 3.0%, after it said it plans to spin off its ice cream business and cut 7,500 jobs as it picks up the pace of its reorganisation plans.

The owner of Marmite, Dove soaps and Domestos announced the move alongside proposals to accelerate its "growth action plan".

Unilever intends to launch a comprehensive productivity programme which it anticipated will deliver total cost savings of around EUR800 million over the next three years, more than offsetting estimated operational dis-synergies from spinning off the ice cream business.

The changes are expected to impact around 7,500 jobs, with total restructuring costs now anticipated to be around 1.2% of group turnover for the next three years, up from around 1% of turnover previously guided.

Unilever, which owns five of the top 10 selling global ice cream brands including Wall's, Magnum and Ben & Jerry's, said the separation of ice cream will assist in the implementation of the GAP.

Oil firms were also higher, on the back of higher oil prices. BP rose 0.5% and Shell edged up 0.4%.

Brent oil was quoted at USD86.79 a barrel at midday in London on Tuesday, up from USD86.27 late Monday.

In the FTSE 250, Crest Nicholson fell 8.6%, after it warned it could face a GBP15 million charge after uncovering defects in some legacy projects.

The Surrey, England-based housebuilder said the issues related to four sites that were completed prior to 2019 when the group closed its regeneration and London divisions.

Crest Nicholson said these sites will require remediation over the next three years at an estimated cost of up to GBP15 million.

Close Brothers rose 8.0%.

Close Brothers announced plans to bolster its financial position as it grapples with the uncertainties of the probe into commission payments in the UK motor finance industry.

The merchant bank said, combined with the decision to not pay any dividend payments in the current financial year, its proposals could strengthen the group's available CET1 capital by around GBP400 million by the end of 2025.

PureTech jumped 7.9%.

The Boston, Massachusetts-based biotherapeutics company said it plans to return USD100 million to shareholders with a tender offer, starting after it publishes its annual report in April.

"We are delighted to be able to purchase shares of PureTech at this valuation and to concurrently provide some liquidity to our shareholders and additional capital returns," said Chief Executive Officer Daphne Zohar. "Following this proposed tender offer, we are confident that our strong balance sheet will continue to support the development of our existing pipeline - as well as the next wave of innovative medicines.

Gold was quoted at USD2,155.06 an ounce on Tuesday at midday, lower against USD2,158.93 late Monday.

Still to come on Tuesday's economic calendar, there is US building permits data at 1230 GMT.

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
7 May 2024 13:29

Shell says it remains committed to mobility business in Malaysia

May 7 (Reuters) - Global oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.

Read more
6 May 2024 15:01

Shell to exit South Africa's downstream businesses

CAPE TOWN, May 6 (Reuters) - Oil major Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions, it said on Monday.

Read more
6 May 2024 09:10

Tanzanian LNG project delayed as government seeks to change terms

LONDON, May 6 (Reuters) - Negotiations for the development of Tanzania's $42 billion liquefied natural gas export plant have been delayed by proposed government changes to a financial agreement reached last year, a government spokesperson and two company sources said.

Read more
6 May 2024 08:33

Tanzanian LNG project delayed as government seeks to change terms, sources say

LONDON, May 6 (Reuters) - Negotiations for the development of Tanzania's $42 billion liquefied natural gas export plant have been delayed by proposed government changes to a financial agreement reached last year, two sources from companies involved in the project said.

Read more
3 May 2024 18:36

Oil majors offered faster Nigerian exit if they pay for cleanup

ABUJA, May 3 (Reuters) - Major oil companies such as Exxon Mobil and Shell that aim to exit Nigeria's onshore oil can get quicker approval to do so if they take responsibility for spills rather than wait for authorities to apportion blame, the regulator said on Friday.

Read more
3 May 2024 16:53

Europe Gasoline/Naphtha-Gasoline cracks rise as exports pick up

LONDON, May 3 (Reuters) - Northwest European gasoline refining margins rose slightly to $23.2 a barrel on Friday after ARA stocks dropped with exports to North America gaining pace.

Trade    Bid      Offer    Prev.    Buyer    Seller
Ebob $915
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob
Barges
E10
Platts(fo
b ARA)
Ebob $896-$8 $896-$8 BP, Gunvor
Barges 96.25 99 Litasco
Argus (8KT)
E5(fob
AR)
Ebob $882-$8 $883-$8 P66, BP Varo,
Barges 82.25 84 Total
E10 Argus (10KT)
(fob AR)
June swap $862.50 $865.25
(fob ARA)
Premium $876 885.00- Vitol Trafigu
Unleaded $888.50 ra,
(fob ARA) (21 Litasco
<PU-10PP- barges)
ARA>
Cargoes May
(fob MED) +$15
Cargoes $908
(cif NEW) (Thames
)
Naphtha May +$6
(cif NEW)
<NAF-C-NW
E>

Ebob crack (per barrel) $23.15 Prev. $22.81
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ron Bousso; Editing by Kirsten Donovan)

Read more
3 May 2024 15:22

Oil majors offered faster Nigerian exit if they pay for cleanup

ABUJA/LAGOS, May 3 (Reuters) - Majors such as Exxon Mobil and Shell that aim to exit Nigeria's onshore oil can get quicker approval to do so if they take responsibility for spills rather than wait for authorities to apportion blame, the regulator said on Friday.

Read more
3 May 2024 13:47

British regulator awards more North Sea oil and gas licences

NSTA awards 31 new licences aimed at boosting output

*

Read more
3 May 2024 11:44

Shell's Q1 performance "encouraging", says RBC

(Sharecast News) - RBC Capital Markets has raised its forecasts for Shell and kept an 'outperform' rating, saying the business was "firing on most cylinders" in the quarter.

Read more
3 May 2024 11:00

US stands to lose Canadian natural gas when LNG Canada terminal starts up

May 3 -

Read more
3 May 2024 09:14

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
2 May 2024 19:49

Shell smashes forecasts with $7.7 bln quarterly profit

Shell announces further $3.5 bln in buybacks

*

Read more
2 May 2024 18:40

Europe Gasoline/Naphtha-Gasoline cracks dip despite European stock draw

LONDON, May 2 (Reuters) - Northwest European gasoline refining margins slipped to $21.67 a barrel on Thursday, even as European gasoline stocks dipped and oil edged back toward seven-week lows.

Trade    Bid      Offer    Prev.    Buyer    Seller
Ebob $915
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob
Barges
E10
Platts(fo
b ARA)
Ebob $896-$8 $905.25 Litasco Gunvor,
Barges 99 -906 , Exxon,
Argus (8KT) (8KT) Shell, Mabanaf
E5(fob Glencor t
AR) e
Ebob $883-$8 $887.75 Shell, Varo,
Barges 84 (6KT) Exxon, Totsa
E10 Argus (10KT) Musket
(fob AR)
May swap $865.25 $875
(fob ARA)
Premium 885.00- $902-90 Litasco Trafigu
Unleaded $888.50 5 (5 , Varo, ra,
(fob ARA) (21 barges) Vitol Gunvor
<PU-10PP- barges)
ARA>
Cargoes May
(fob MED) +$15
Cargoes
(cif NEW)
Naphtha May +$6
(cif NEW)
<NAF-C-NW
E>

Ebob crack (per barrel) $21.674 Prev. $23.184
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Noah Browning;Editing by Elaine Hardcastle)

Read more
2 May 2024 17:06

FTSE 100 boosted by strong earnings from Shell, StanChart

StanChart jumps after posting a 5.5% rise in pretax profit

*

Read more
2 May 2024 16:07

London close: Stocks rise on back of well-received earnings

(Sharecast News) - London's stocks finished with gains on Thursday, fuelled by strong performances from key players like Standard Chartered and Smurfit Kappa.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.