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Europe lower in premarket after DB job cuts start

European markets traded with losses before the bell, with Germany's DAX declining over half a percentage point after Deutsche Bank began its exit from equity sales and started delivering notice for 18,000 job cuts to its employees worldwide. Meanwhile, the so-called special relationship between the United Kingdom and the United States encountered a rare spat after US President Donald Trump said he is not prepared to work with the British ambassador to Washington after leaked cables showed Kim Darroch called Trump "incompetent." However, Downing Street said Dannoch has the support of the UK government.

The DAX fell 0.56% at 7:52 am CET, while the CAC 40 lost 0.22% and the FTSE 100 was down 0.16% at the same time.

The euro was flat against the dollar, increasing by 0.01% to 1.12155 at 7:53 am CET. The pound traded 0.04% lower to go for 1.25101 against the greenback at 7:54 am CET.

Breaking the News / VP

- 0.18% - $2.19 $1393.18

High of the day $1396.57

European stocks lower premarket with Iran in focus

Equities on major stock markets in Europe traded lower on Monday with the focus remaining on rising tensions with Iran. The Middle Eastern country announced it was scaling back its commitments under the Joint Comprehensive Plan of Action (JCPOA), a move condemned by the members of the European Union. In business news, Deutsche Bank AG announced plans for a €7.4 billion corporate restructuring.

The FTSE 100 was down 0.21% at 7:40 am CET, while the DAX dropped 0.50%. At the same time, the CAC 40 was 0.34% lower.

The euro and the pound were both flat against the dollar at 7:33 am CET, changing hands for $1.12293 and $1.25313 respectively.

Breaking the News / MD

+ 0.36% + $5.14. $1404.73

High of the day $1405.76

Oil bounces as traders bet on US economic strength

Market participants turned to oil futures on Friday, erasing the session's losses and lifting prices on the notion that the United States economy isn't facing headwinds as strong as officials from the Federal Reserve have been warning about. The Department of Labor said employers added a whopping 224,000 jobs in June. The jump in crude defied the dollar's surge, as appreciation normally makes the energy commodity more expensive for holders of other currencies.

The jobless rate advanced by 0.1 percentage points to 3.7% but underlying data showed it was due to strong additions to the labor force. The so-called U-6 indicator, which also includes the underemployed and the marginally attached workers, grew to 7.2% from 7.1% and the participation rate strengthened to 62.9% from 62.8%. Investors will be looking at the central bank for signs of a shift in the stance as rate-setters have earlier hinted at a strong drop in borrowing costs.

West Texas Intermediate for settlement next month surged 1.68% to $57.53 per barrel at 3:49 pm CET. Brent for delivery in September was 1.58% higher at $64.3 for one barrel.

Breaking the News / IT

Europe subdued in premarket ahead of data

European equities were mixed just before the start of the session on Friday as investors await key US jobs data. Nonfarm payrolls for June could give clues as to whether the Federal Reserve will cut rates this month at their policy meeting. According to the CME FedWatch tool, investors expect officials to slash rates on July 31 after months of relentless criticism from President Donald Trump.

Meanwhile, German factory orders fell by 8.6% in May compared to the same month a year ago, according to a report from Destatis released earlier.

The DAX and the CAC 40 were flat, while the FTSE 100 lost 0.12%. The euro declined 0.07% against the dollar at 8:45 am CET, buying 1.1275, while the pound was virtually flat versus the US currency, going for 1.2575.

Breaking the News / JC

- 0.11% - $1.66 $1414.21

High of the day $1424.30

Surely this must hint at drill success

https://youtu.be/UVA3nszlMh8

Oil prices higher after dip in US stockpiles

Oil prices rebounded slightly on Wednesday after sliding in the previous session as the extension of the OPEC+ production cuts failed to counter demand woes. Fears of a global economic slowdown following weak manufacturing reports from China, the United States, and Europe took over after the cartel and allied producers decided to extend output cuts by nine months.

Meanwhile, data from the American Petroleum Institute helped crude prices as a larger-than-expected drawdown in US inventories was revealed. Government data from the EIA will be released later in the day.

Brent futures for September deliveries climbed 0.95% at 6:38 am ET to go for $62.97 per barrel, while West Texas Intermediate futures for the same month jumped 1.01% to $56.84 a barrel at the same time.

Breaking the News / JC

+ 0.65%. + $8.85 $1427.10

High of the day $1437.58

Europe mostly higher in premarket ahead of data

European stocks traded mostly in the green in premarket trade on Wednesday as the nominations for the continent's top jobs continued. The European Council elected Belgian interim Prime Minister Charles Michel to head the body until 2022 and German Defense Minister Ursula von der Leyen for the position of European Commission president. In addition, International Monetary Managing Director Christine Lagarde was nominated to be the head of the European Central Bank, prompting her to suspend her duties at her current position. In other news, investors awaited economic data for the European Union, Germany and the United Kingdom due for release after the opening bell.

The DAX was flat at 7:53 am CET while the CAC 40 advanced 0.14% at the same time. Meanwhile the FTSE 100 climbed 0.13% at 7:52 am CET.

The euro was virtually flat against the dollar at 7:52 am CET to go for 1.1287 while the pound declined 0.06% versus the greenback to go for 1.2586 at the same time.

Breaking the News / DZ

Europe higher in premarket ahead of data

European equities rose in premarket trade on Tuesday following yesterday's strong session as the United States and China made progress in trade talks. During the G20 summit in Osaka, US President Donald Trump announced he agreed to delay any new tariffs on Chinese goods and ease restrictions on American companies from selling products to Huawei.

On the data front, investors awaited retail sales figures for Germany, UK housing prices and construction PMI, and the PPI for the Eurozone.

The DAX gained 0.11%, the CAC 40 advanced 0.16%, while the FTSE 100 climbed 0.28%. The euro was virtually flat against the dollar at 7:52 am CET, buying 1.1287, while the pound declined 0.06% versus the greenback, going for 1.2633.

Breaking the News / JC

+ 0.54%. + $7.42 $1391.37

High of the day $1393.31

Al-Falih to present details of new OPEC+ charter tomorrow

Saudi Energy Minister Khalid al-Falih (pictured) said on Monday that the "tweaks" made during the today's meeting of the Organization of the Petroleum Exporting Countries (OPEC) was aimed at formalizing the cooperation with non-OPEC oil-producing countries. After the meeting, al-Falih said that the talks produced an OPEC+ charter and that the negotiators made sure it "doesn't supersede" the existing OPEC charter. Secondly, the minister hinted that non-OPEC members of the accord would contribute monetarily to the OPEC Secretariat.

Al-Falih also said that Saudi Arabia currently has a minimum of 2.3 million barrels in spare capacity and that the kingdom would not push its crude burn oil on the market. He confirmed that his country will produce less oil than its OPEC quota and less compared to the previous year. He also added that he expects softer global oil demand in the near future.

Speaking on the United States oil production, al-Falih said that US shale yields will "peak, plateau and decline" as any other oil field in history. "The question is when... [In the meantime] we will keep adjusting to it," adding that OPEC would trim its own production in order to reduce market volatility.

Breaking the News / MA

Oil eases gains, markets await production cuts confirmation

Gains in oil prices retreated on Monday as investors waited for an official confirmation of reports that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers are planning to extend production cuts for nine months. However, OPEC+ failed to reach an agreement on a charter that would formalize the groups' cooperation, sources said.

After trading above $60 per barrel earlier in the session, West Texas Intermediate (WTI) for August delivery went for $58.66 per barrel, increasing 0.36% at 1:29 pm ET. September futures of international benchmark Brent were 0.09% higher and trading at $64.66 per barrel at 1:31 pm ET.

Breaking the News / VP

OPEC confirms nine more months of production cuts

The Organization of the Petroleum Exporting Countries (OPEC) confirmed on Monday earlier reports that it will continue its production cuts in the next nine months. After today's meeting, President of the OPEC Conference Manuel Salvador Quevedo (pictured) said that the negotiations were successful and that the countries present agreed to continue their cooperation in the same, cooperative spirit.

He also confirmed that the Secretary-General of OPEC Mohammed Barkindo will retain his position within the organization for the next three years. Saudi Energy Minister Khalid al-Falih said that OPEC's accord with other major suppliers led by Russia, popularly known as OPEC+, will present a proposal a permanent charter of cooperation tomorrow. Said charter, al-Falih assessed, should be a "positive step towards the stability of energy markets."

Al-Falih also stated that he believes the second half of the year will be more fruitful for the partnership and that other energy ministers assured him that "numbers will be better," admitting that "inventories got out of hands in the past few months."

Breaking the News / MA

Hello Tiger...
I am of the same faith as yourself as far as Cey is concerned.
Over the years the rant that they the come out with on any conference call proves to be just noise for the day. No follow up.. ever!
I’m also out at the minute and tbh would find it a big decision to reinvest.
I also feel if someone had told me not so long ago when gold was circa $1275 and Cey was circa that gold was going to go off the richter scale the way it has, I’d have been picturing Centamin at £1.40’s

I’m not of great faith at the minute.

Crude prices just nailed 3%

+3.18% at $66.63

Oil higher after Russia, Saudi agree on cuts

Crude oil prices traded in the green on Monday in the midst of an OPEC+ meeting in Vienna. Russian President Vladimir Putin announced at the G20 summit on Saturday that Russia and Saudi Arabia agreed on the need to extend oil production cuts for at least six more months and possibly into early 2020. Meanwhile, United Arab Emirates Energy Minister Suhail al-Mazroui expressed confidence that OPEC will reach a decision which will restore the oil market balance.

Brent futures for September deliveries increased by 1.72% at 6:26 pm ET to go for $65.57 per barrel, while West Texas Intermediate futures for the same month added 2.40% to $59.65 a barrel at 6:27 pm ET, after touching $60.21, the highest price since May 23.

Breaking the News / DJ

European stocks jump premarket on trade optimism

European markets rose in premarket trading on Monday on fresh hopes the United States and China will resolve their trade dispute following a meeting of their presidents, Donald Trump and Xi Jinping at the G20 summit. At the meeting, Trump agreed not to impose further tariffs on Chinese goods and to allow US companies to sell equipment to Huawei. The two leaders also agreed to continue with trade negotiations, but the US president noted he was "in no hurry" to reach a deal.

Investors also digested Trump's meeting with Kim Jong-un at the Demilitarized Zone (DMZ), where he stated Washington and Pyongyang will resume denuclearization talks in the coming weeks and invited the North Korean supreme leader to visit Washington "at some point."

The FTSE 100 climbed 0.90% premarket at 7:52 am CET, the DAX surged 1.31% and the CAC 40 jumped 1.05% at the same time. The euro fell 0.39% against the dollar to sell for 1.1326 at 7:53 am CET.

Breaking the News / NP