02 July

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ConocoPhillips Jumps As Brokerages Go Bullish By Investing.com

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By Dhirendra Tripathi Investing.com – ConocoPhillips (NYSE:COP) rose more than 3% during Thursday’s trading as several brokerages raised their price targets for the oil giant’s shares. The latest list of brokerages joining previous day’s bullish calls by UBS (NYSE:UBS) and Citi (NYSE:C) includes Bernstein, Truist Securities, Goldman Sachs (NYSE:GS), Wells Fargo (NYSE:WFC) and RBC Capital. Bernstein’s $88 target for the crude oil explorer’s stock is the highest of the five calls issued today. That translates into an upside of almost 40% from the stock’s current level of $63. For Goldman Sachs’s Neil...

02 July

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Glencore enters new era under Gary Nagle’s stewardship By Reuters

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By Clara Denina LONDON - Gary Nagle takes the helm at Glencore (LON:GLEN) Plc on Thursday, a changing of the guard that shareholders hope will allow the mining giant to move past a U.S. Department of Justice (DoJ) investigation and lift its share price. Nagle, 46, is South African and an accountant by profession, as was his predecessor Ivan Glasenberg, earning him the nickname "mini-Ivan". He has run the company's coal assets division for the last two years. Nagle takes control as miners are coming under pressure from investors and policymakers to tackle...

02 July

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U.K. shares higher at close of trade; Investing.com United Kingdom 100 up 1.28% By Investing.com

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Investing.com – U.K. equities were higher at the close on Thursday, as gains in the Food Producers, Oil & Gas Producers and Travel & Leisure sectors propelled shares higher. At the close in London, the Investing.com United Kingdom 100 gained 1.28%. The biggest gainers of the session on the Investing.com United Kingdom 100 were Associated British Foods PLC (LON:ABF), which rose 4.83% or 107.0 points to trade at 2323.0 at the close. International Consolidated Airlines Group S.A. (LON:ICAG) added 3.89% or 6.78 points to end at 181.00 and Compass Group PLC (LON:CPG) was up...

02 July

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MARKET WRAP: FTSE rallies, GBP falls, Oil jumps on OPEC+ plans By Investing.com

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Key Points FTSE 100 closing price of 7126.42, +1.26% Oil rallies after OPEC reports GBP soft after Bailey comments Bitcoin weakens below $34,000 By Samuel Indyk Investing.com – The FTSE 100 started the quarter on the front foot, supported by a rally in energy companies and travel stocks. Oil giants BP (LON:BP) and Royal Dutch Shell (LON:RDSa) both traded near the top of the blue-chip index after oil rallied following early reports from the OPEC meeting. Brent and WTI both traded above $76 per barrel amid reports that OPEC+ group of producers were discussing...

02 July

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UK welcomes progress in push to overhaul global corporate tax rules By Reuters

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LONDON (Reuters) - British finance minister Rishi Sunak welcomed progress in talks at the Organisation for Economic Co-operation and Development on overhauling global corporate tax rules and said he was pleased to see continued momentum in the reform push. "I look forward to continuing discussions with our global partners in the coming months with a view of finalising the details by October," he said in a statement on Thursday. Sunak was chair of talks among the smaller Group of Seven economies last month which resulted in an agreement to get more tax money out of...

02 July

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Hiring Bonuses Catch On in U.S. Race to Add Workers, Indeed Says By Bloomberg

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(Bloomberg) -- U.S. businesses are increasingly offering incentives like cash hiring bonuses as they compete to add workers in a rapidly rebounding economy, according to data from jobseeker firm Indeed. In the week ending June 28, 4.2% of Indeed job postings offered some kind of incentive beyond basic pay and benefits. That’s more than double the share at the same time last year. The numbers cast light on the unusual state of the U.S. labor market after a pandemic that triggered record job losses. Surging demand during the recovery -- especially in low-wage industries like restaurants...

02 July

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Krispy Kreme, June Jobs, Unemployment Rate: 3 Things to Watch By Investing.com

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By Dhirendra Tripathi Investing.com -- Energy shined Thursday, pushing the S&P 500 to a new intraday high after the OPEC+ oil cartel postponed its meeting for a day after struggling to reach consensus on supply. OPEC+, which includes members of the Organization of the Petroleum Exporting Countries plus allies led by Russia, delayed its meeting to Friday after the United Arab Emirates couldn’t go along with the reported preliminary deal for a 500,000 barrel per day hike struck Thursday by Saudi Arabia and Russia. Oil prices remained near their highest level since October 2018 as the...

02 July

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S&P 500 Notches Sixth-Straight Record Close Ahead of Monthly Jobs Report By Investing.com

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By Yasin Ebrahim Investing.com – The S&P 500 stretched its run of record daily closes to six on Thursday, boosted by energy on rising oil prices as major oil producers delayed their meeting by a day, while positive labor data buoyed expectations for a strong monthly jobs report due Friday. The S&P 500 rose 0.52% to close at a record of 4,319.94. The Dow Jones Industrial Average jumped 0.38%, or 138 points, the Nasdaq was up 0.13%. OPEC+ delayed its meeting by one day to Friday after a key member, the United Arab Emirates, was unwilling to...

01 July

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ECB should not tolerate inflation overshoot, Weidmann says By Reuters

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FRANKFURT (Reuters) - The European Central Bank should not start tolerating higher inflation under its new policy framework, as that could be taken as a sign that it is trying to bankroll indebted governments, ECB policymaker Jens Weidmann said on Thursday. ECB policymakers are in the middle of debating a new strategy, with many now backing the notion of letting inflation surpass 2% for a while after it has lagged below that level for most of the past decade. But Weidmann, who heads Germany's Bundesbank and has long warned that the ECB's massive purchases of government...

01 July

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U.S. House approves $715 billion infrastructure bill By Reuters

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By David Morgan WASHINGTON (Reuters) - The Democratic-controlled U.S. House of Representatives approved a $715 billion surface transportation and water infrastructure bill on Thursday in what Democrats see as an early step toward sweeping infrastructure legislation that Congress hopes to complete in September. The bill, which includes provisions from President Joe Biden's initial $2.3 trillion infrastructure proposal, authorizes additional spending for roads, bridges, highway safety, electric vehicle charging stations, rail, transit, drinking and wastewater infrastructure. It also funds programs that would provide money for major projects, including an $11.6 billion plan to connect New Jersey...

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News

ConocoPhillips Jumps As Brokerages Go Bullish By Investing.com

Glencore enters new era under Gary Nagle’s stewardship By Reuters

U.K. shares higher at close of trade; Investing.com United Kingdom 100 up 1.28% By Investing.com

MARKET WRAP: FTSE rallies, GBP falls, Oil jumps on OPEC+ plans By Investing.com

UK welcomes progress in push to overhaul global corporate tax rules By Reuters

Hiring Bonuses Catch On in U.S. Race to Add Workers, Indeed Says By Bloomberg

Krispy Kreme, June Jobs, Unemployment Rate: 3 Things to Watch By Investing.com

S&P 500 Notches Sixth-Straight Record Close Ahead of Monthly Jobs Report By Investing.com

ECB should not tolerate inflation overshoot, Weidmann says By Reuters

U.S. House approves $715 billion infrastructure bill By Reuters

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