10 May

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Mining, energy stocks boost FTSE 100, stronger pound limits gains By Reuters

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By Devik Jain (Reuters) -London's FTSE 100 edged higher on Monday, led by heavyweight miners, although gains were limited by a stronger pound and as investors awaited new government plans for easing lockdowns. The blue-chip index rose 0.2%, with miners mainly Glencore (LON:GLEN), BHP Group and Rio Tinto (LON:RIO) providing the biggest boost as copper prices touched record highs on hopes of improved demand amid tightening supply. [MET/L] Oil majors BP (LON:BP) and Royal Dutch Shell (LON:RDSa) added 1% and 0.4% respectively, tracking crude prices. [O/R] However, the FTSE 100...

10 May

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UK’s Provident Financial to close troubled doorstep-lending arm By Reuters

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(Reuters) -Provident Financial on Monday called it quits on its doorstep-lending division, putting 2,100 jobs at risk, as the pandemic hit the last nail on a business that survived the Wall Street crash of 1929 and the global financial crisis. The UK-based company had been trying to revive the unit for years after botching an overhaul of the division in 2017 when it sought to replace its army of self-employed doorstep collection agents with direct employees. "In light of the changing industry and regulatory dynamics in the home-credit sector, as well as shifting customer preferences,...

10 May

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UK’s Dignity posts 35% jump in profit on demand for funeral services By Reuters

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(Reuters) - Dignity Plc reported a 35% jump in first-quarter profit due to a rise in demand for funeral services amid the COVID-19 pandemic. The company, which owns around 800 funeral locations and 46 crematoria in Britain, reported an underlying operating profit of 26.1 million pounds ($36.68 million) for the 13-weeks to March 26. ...

10 May

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Almirall’s net profit falls 39% in Q1 as the pandemic effects linger By Reuters

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By Joan Faus BARCELONA (Reuters) -Spanish pharmaceuticals company Almirall said on Monday its first quarter net profit fell 38.7% to 29.8 million euros ($36.21 million) while revenues decreased 10% as a result of the COVID-19 crisis and rising competition from generic drug makers. The net profit decline was steeper than the 29.9% registered in 2020. Core earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell 16% in the first quarter to 74.2 million euros while total revenue reached 222.5 million euros, more than what was expected by analysts polled by Refinitiv. The Barcelona-based pharmaceutical was...

10 May

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Aurubis posts strong quarterly earnings, optimistic on outlook By Reuters

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HAMBURG (Reuters) - Aurubis AG, Europe's largest copper producer, on Monday posted strong quarterly earnings and said it remains upbeat about prospects for its current financial year on expectations of high copper demand and prices as economies recover from the COVID-19 pandemic. Aurubis posted operating earnings before taxes (operating EBT) of 103 million euros ($125.18 million) in the second quarter to end March of its 2020/21 fiscal year, up 72% from the previous year. Aurubis confirmed its previous forecast of operating EBT of between 270 - 330 million euros for the full current 2020/21 fiscal year...

10 May

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Underwriters puzzle over how to make pandemics insurable again By Reuters

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By Carolyn Cohn LONDON (Reuters) - When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman and CEO of French reinsurer SCOR, summed it up when he told a recent conference that pandemic risk was like war. "We exclude war - it's not insurable," he said. But as industries spanning travel and hospitality to construction and manufacturing revert to a new normal, huge demand...

10 May

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Japan’s first quarter GDP likely slipped back into decline as new COVID curbs hit: Reuters poll By Reuters

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By Leika Kihara TOKYO (Reuters) - Japan's economy likely shrank in the first quarter as the hit to consumption from coronavirus curbs offset the boost from robust global demand, a Reuters poll showed, highlighting the country's slow recovery from a pandemic-induced slump. An extension of state of emergency restrictions and slow vaccine rollouts are expected to keep growth feeble in April-June, analysts say, reinforcing views that Japan will lag other major economies in emerging from the doldrums. "Instead of staging a V-shaped recovery, Japan's economy may contract again in April-June," Daiwa Institute of Research said in...

10 May

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Chip shortage in focus as Japan automakers ready to report profit drop By Reuters

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TOKYO (Reuters) - While Japan's biggest automakers report what analysts expect to be depressed earnings this week, investors looking for trading cues will be tuned into any assessment of the future impact of a global chip shortage that has forced a shake-up in production. Automakers worldwide have had to adjust or suspend production in the past few months as factors including a surge in demand for electronic devices plus U.S. sanctions against Chinese technology firms led to a dearth of semiconductors. Blackouts in Texas where a number of chipmakers have factories and a fire at...

10 May

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China healthcare firms surge after vaccine waiver plan meets EU resistance By Reuters

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SHANGHAI (Reuters) - Shares of Chinese healthcare firms soared on Monday, rebounding from last week's drubbing after a U.S. proposal to waive patents for COVID-19 vaccines met with fierce opposition from European governments and pharmaceutical giants. A sub-index tracking health care firms was 1.83% higher at midday, after falling more than 6.8% last week, its worst weekly performance in 10 weeks. That compared with a 0.15% loss for the blue-chip CSI300 index on Monday. The health care sector received a further boost after Shanghai Fosun Pharmaceutical said on Sunday that a subsidiary has agreed to...

10 May

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Valero charters tanker for Gulf Coast storage amid pipeline outage – sources By Reuters

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By Laura Sanicola (Reuters) - Valero Energy (NYSE:VLO) chartered an oil products' tanker for storage in the U.S. Gulf Coast on Friday amid a cyber attack that shut the Colonial pipeline, the biggest U.S. fuel pipeline, two sources familiar with the matter said on Sunday. The tanker, called the Nave Titan, is currently in the Mississippi River in southern Louisiana, according to Refinitiv Eikon shipping data. Nave Titan can hold up to 330,000 barrels of oil, according to the tanker data. Other Gulf Coast refiners were looking to book tankers for storage this weekend...

Меню

Mining, energy stocks boost FTSE 100, stronger pound limits gains By Reuters

UK’s Provident Financial to close troubled doorstep-lending arm By Reuters

UK’s Dignity posts 35% jump in profit on demand for funeral services By Reuters

Almirall’s net profit falls 39% in Q1 as the pandemic effects linger By Reuters

Aurubis posts strong quarterly earnings, optimistic on outlook By Reuters

Underwriters puzzle over how to make pandemics insurable again By Reuters

Japan’s first quarter GDP likely slipped back into decline as new COVID curbs hit: Reuters poll By Reuters

Chip shortage in focus as Japan automakers ready to report profit drop By Reuters

China healthcare firms surge after vaccine waiver plan meets EU resistance By Reuters

Valero charters tanker for Gulf Coast storage amid pipeline outage – sources By Reuters

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