Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
There she goes again....from the 270s travelling back down to the 250s...as I said you could almost set your clock by it.
Sea of Blue? My impression from today's trading is exactly that....day trading.....being traded up from 250.2 before being sold down around 270. This is a daytraders dream allowing multiple virtually predictable trades. Be interesting when US daytraders get involved as so many more of them.
Am informed an 'IT Problem'.
....is the Chairman of POLY and between 2016-2019 was also chair of Blackrock World Mining Trust. Am I alone in finding it interesting that Blackrock have recently been buying POLY shares at prices, presumably, somewhat higher than todays.
....through 290 atm.
...has been unremitting this morning with no floor, so far, in sight. Price dropping through 375.
Just managed to access it. POLY to me is all about risk/reward. Risks are pretty obvious but if POLY has a future on LSE then in the medium term, once everything has settled down (unknown quantity), POLY will still be mining Gold and at current price levels is a give-away. However I remain on sidelines awaiting further moves by West to apply harder sanctions to Russian oriented stocks.
Unable to access POLY's Home page - is it just me?
Last 12 months Rosneft contributed roughly 20% to BP's underlying profit. I believe that BP will now know that they have the choice of being the 'good guy' and walking away from their involvement with Rosneft or else the UK government will slap a tax of some description - call it windfall or anything else - equivalent to the value of the stake on BP. In addition BP will now be in the 'bad guy' list and thereby barred from any chances of benefitting from opening the North Sea further. Either way now rating BP fair price at ca £3.20 at current oil price.
BP told to offload Rosneft stake
BP is under renewed pressure to abandon its 20pc stake in the oil giant Rosneft after Boris Johnson said Britain must reduce its reliance on Russian hydrocarbons.
The gas giant is run by Vladimir Putin's close friend and ally Igor Sechin. BP's chief executive Bernard Looney sits on Rosneft's board alongside Mr Sechin.
Helen Cahill has the story.
Mark, stockmarkets nowadays have goldfish memories and attention spans. Most UK stocks up this morning and some pure Russian stocks down 50% yesterday up 50% this morning. BP marking time around 370 - again waiting for big brother Wall street to tell us what to do.
Pound down 2% against the dollar. Oil is priced in dollars therefore UK pump prices and oil related prices will rise. On the other hand Oil companies that are sterling listed such as BP will earn more sterling for every barrel.
US now hammering POLY - down to 550 as I write.
Meoryou, my take is that oil producers in general, exposed to Russia or not, will all succeed to varying degrees because the World cannot exist without energy and oil/gas are main energy drivers at the moment and will be for years to come. BP will recover and follow oil pricing I'm sure. When? is the question, but then BP is generally considered a long-term hold.
My head has been spinning this morning as we try to make sense of some of the more unusual market movements. For example Bitcoin down 6% (safe haven?), Pets at Home - cats and dogs down 4% (exposure to Russia?!!!), Royal Mail down 5%. BP atm down 4%. What next? One seriously held view goes like this....Putin does not want to actually occupy Ukraine. OK so what's he doing? Story continues that he wants regime change (taken from the Tony Blair song book) whereby he disposes of prominent Ukrainians who are unsympathetic, high profile and vocal against Russia. Puppet government installed in Kyiv controlled from Moscow. Skeleton Russian military presence as 'peacekeepers' while new, indoctrinated Ukrainian army trained up. Net result in a few months time? 'Independent' Russian-friendly Ukraine, 'nothing to see here'. Prognosis - wait and bear short term pain before markets re-establish. Economy - all the Western produced inflation over the past two years will now be blamed on Putin rather than Boris, Biden etc. Boris will allow BP etc to reopen moth-balled gas and oil fields in the North Sea because of Putin etc (notwithstanding that I was being briefed some weeks ago that Boris was realising that dependence on renewables atm was not practical to keep the lights on). This is a precis of 'my take' atm for what it's worth. Time will tell.
Jakers, thanks for that since I was about ready to query why BP has not issued a statement on their take of their situation - let's face it BP should have been briefed for some days by Rosneft - particularly with their direct line to Putin. So far this morning I have received updates from a number of Russian-involved companies which basically say 'don't panic everything under control and working normally'. Meanwhile NATO will have a virtual conference TOMORROW!! No panic there then.
Larry, I hope you are right. My reservations include my view that Putin is a smarter operator than sleepy Joe and partygate Boris etc. Also Russia recently signed a deal to supply China with 100 million tonnes (not barrels) of oil and even India with, I believe, 2 million tonnes pa. Meanwhile Russia has plenty of energy, raw materials and food production to sustain normal life in Russia. Unfortunately we have an energy deficit, no raw materials of any consequence and little domestic food production. Stark I know but welcome to reality.