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Relatively big positive move up today for this key UK focused Oiler ITH given the long expected Labour landslide but interestingly with the whole markets and FTSE 100 all down, could be a very good sign and/or news for Independent UK focused Oilers?

Any ideas??

Home builders are likely to benefit the most from ~5 years (or possibly even more) of a Labour government, and Taylor Wimpey looks to be in prime position in my opinion.

Some other UK oilers are also up today (SQZ, ITH…), I guess both the Labour victory and date of the election have been clearly known for sometime but still we’ve very recently had large hedge funds and billionaires adding HBR to their portfolios while Shorts continued to close positions, HBR meeting today could be interesting as we close in on the deal with rising O&G prices and hopefully some political stability after 8 volatile years!

Glencore Coal Deal Approved by Canada as Teck Plans Buyback

Teck sees $2 billion buyback and investment in copper business

Minister raises bar for future critical minerals transactions

Canada has approved Glencore Plc’s $6.9-billion acquisition of Teck Resources Ltd.’s metallurgical coal business, while the latter announced a $2 billion share buyback and pledged to boost copper output.

Teck Chief Executive Officer Jonathan Price said the transaction with Glencore marked a new era as the company focused on metals for the energy transition.