Shares in Aim-listed miner spike as it joins “white gold” rush September 14, 2016 Aim-listed Premier African Resources jumped today, after the miner said drilling had commenced at its Zulu lithium project in Zimbabwe. The programme is aimed at producing a maiden resource, as well as testing extensions to the current 3.5km strike length. The company's shares soared as much as 44.74 per cent at the open to 0.55p each, giving [...]
Sterling still drifting on weak inflation figures September 13, 2016 The pound has slumped this afternoon on the back of weak inflation figures, taking the currency to a two-week low against both the dollar and the euro. Sterling drifted by one per cent against both the major currencies after inflation came in at a weaker-than-forecast 0.6 per cent in official figures out this morning. Economists [...]
Before the bell: What you need to know before the US market open September 13, 2016 The chances of the Fed raising rates for the second time since the financial crisis next week are fading but it hasn't entirely put the brakes on the global stock sell off. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing down despite getting a [...]
Oil tumbles after IEA warns oversupply will last until mid-2017 September 13, 2016 Oil plummeted today after the International Energy Agency (IEA) pushed back its expectations for the long-awaited recovery of the embattled market. The Paris-based group said that the supply dynamic is unlikely to change significantly in the coming months, meaning it will remain oversupplied until at least the second half of 2017. It had previously forecast no surplus by this point. [...]
As the monetary policies of the US, the UK and the Eurozone diverge, what should investors make of this fork in the road? September 13, 2016 Since the end of last week, speculation has been mounting that the US Federal Reserve will raise interest rates again this year. The probability of a September rate raise looks slimmer after the Fed’s most dovish official, Lael Brainard, struck a cautionary tone in a speech yesterday. But there is a strong chance that the next [...]
FTSE 100 dips to a six-week low on US rate hike fears September 12, 2016 Shares on the FTSE 100 fell to their lowest since the beginning of August today, as investors showed their nerves over a potential rate hike. After ending last week 1.7 per cent lower than it started, the index was 1.4 lower in mid-afternoon trading, at 6,685 points The fall was led by Primark owner Associated British Foods (ABF), which [...]
Xcite Energy share price plummets and have “minimum residual” value September 12, 2016 The share price in North Sea oil company Xcite Energy tanked over 75 per cent following an announcement that bondholders would be taking control of the company. The Aim-quoted company has been in talks with the noteholders of its $135m of senior secured bonds and there had been hope of reaching an agreement that would see some return for equity investors – [...]
Oil prices plunge after US shale gas drillers add more rigs September 12, 2016 Crude tumbled today as investors' nerves were hit by the US shale gas industry's resilience to low prices. Brent crude, the global benchmark, fell 1.9 per cent to $47.10 per barrel this morning. Its US counterpart, West Texas Intermediate crude, tumbled 2.05 per cent to $44.94 per barrel. Read more: Opec keeps global oil demand forecast unchanged It [...]
Mining company aims to prove Cornish tin can float (on the London Stock Exchange) September 11, 2016 A Canadian mining company with an interest in Cornish tin is aiming to float on the London Stock Exchange’s junior market. Strongbow Exploration is intending to list in the Alternative Investment Market (Aim) in the first half of next year, while keeping its place on the Toronto Stock Exchange. Read more: This veteran entrepreneur is [...]
See us after class: Disappointing back to school week for FTSE 100 as retailers drag it lower September 9, 2016 The FTSE 100 had a decidedly wobbly start to the school year, finishing the first full week of September 1.7 per cent lower than it started. Having come tantalisingly close to the 7,000 mark last week, it finished today at 6,776.95 points, 1.2 per cent down. "You’d be forgiven for falling asleep this afternoon," complained SpreadEx financial analyst [...]