UK News
Anglo American (LON:AAL) said it has agreed to sell its 70% stake in the Foxleigh metallurgical coal mine in the Bowen Basin in Australia’s Queensland state to a consortium led by Taurus Fund Management. Transaction terms were not disclosed.
Polymetal International (LON:POLYP) announced the acquisition of the Komarovskoye Gold Deposit in Kazakhstan from a unit of Glencore (LON:GLEN) for $100M.
Wood Group (LON:WG) (John) Plc reported that it has secured a 2-year contract extending its service provision for TAQA in the North Sea.
Global News
In Asia stocks held firm on Monday after solid U.S. payroll data underpinned investor risk sentiment while dovish comments from Fed Chair Janet Yellen the previous week kept the U.S. dollar in check. The Nikkei was flat at 16,164.95 points by midmorning. Financial markets in Greater China are closed for a holiday.
In Currency Markets the dollar was weaker after Friday’s firm U.S. jobs report failed to shift the broadly held view that the Federal Reserve will remain cautious on interest rate hikes this year. The dollar lost about 0.2% to 111.45 yen. The euro edged up 0.1% to $1.1389. The pound edged down slightly to $1.4220 after falling 0.9% on Friday.
Oil prices fell as the chances of Middle East producers agreeing to curb overproduction appeared to fade, while stubbornly high U.S. output and worries about Asia’s economic outlook also dragged on prices. Front month U.S. crude futures were at $36.36 per barrel, down 1.17% from their last settlement. Brent crude was down 1 percent at $38.27 a barrel. The benchmarks lost 2-4% on Friday when Saudi Arabia said it would only participate in a global freeze of its output if its rival Iran also took part, something Tehran has so far dismissed.
In US stocks extended a seven-week rally on Friday after upbeat U.S. jobs and factory data hinted at stronger corporate earnings without increasing concerns of potential U.S. interest rate hikes. The S&P 500 gained 0.63% to 2,072.78. Regeneration shares rose 12.43% after its experimental treatment for eczema was found highly effective in two large studies. Marriot (NASDAQ:MAR) fell 5.68% after China’s Anbang Insurance abandoned its competing $14 billion bid for Starwood Hotels (NYSE:HOT). Starwood lost 4.85%.
Global Market Data:
09:30 GMT+1 UK Construction PMI
15:00 GMT+1 US Factory Orders m/m
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