OIL The oil war combined with the devastating effect of the coronavirus-induced lockdown on economies has triggered a dramatic fall in the price of oil with WTI plunging to its lowest level in more than 20 years with the May contract sinking below $15. On top of that, there is a wide contango across contracts,…
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An exchange-traded Bitcoin fund on a major global stock exchange is now a reality at the Toronto Stock Exchange (TSX) in Canada and 3iQ, the asset management firm that stayed the course for three years and which launched the fund this past Thursday. $14 million was invested on that eventful day with more to come…
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OIL The collapse of the oil price is not yet over. As mentioned in previous comments, the new agreement seems to be massive but in reality it is simply not enough in the face of the collapse in oil demand, leaving producers in serious crisis. In just a few days we have seen the price…
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FTSE 250 gains 14% in a week UK markets were closed on both Friday and Monday due to the Easter holiday, but over the past five trading days London-listed stocks have posted substantial gains. Small cap names in particular have enjoyed a major rally. The FTSE 250 is up 13.7% over the past five trading…
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OIL Despite the world’s oil producers agreeing to a massive cut of 9.7 million barrels per day, the oil price was unable to hold onto its initial gains as investors are still expecting there to be a global oversupply for the next few months. After a positive gap when markets opened, WTI has fallen again…
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OIL After yesterday’s oil price rally, investors are in a wait and see mode as the OPEC+’s key virtual meeting approaches. It will be crucial for the group to reach a quick agreement to mitigate against the worst-case scenario of an enduring global glut, which was the result of the failure of the previous OPEC…
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The current situation of elevated volatility is reflected very prominently on the chart here. Buying volume increased sharply in the second half of last week and price has now moved into overbought based on both the slow stochastic and Bollinger Bands. There are likely to be short-term opportunities in both directions this week, but buyers…
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OIL Even the best Hollywood movie director would have struggled to imagine the last few days for oil. The dramatic scenario seen last week, with WTI falling below $20 has been followed by a spectacular rebound of 50% in just two trading sessions. This happened when markets realized that the lower price, in conjunction with coronavirus, was…
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UK Banks in the spotlight for dragging heels on small business help It was a mixed but relatively flat day for London-listed stocks, with banks again back in the spotlight over concerns that they have been sluggish in issuing emergency business loans to customers under a government scheme launched last week. Late on Thursday, post-market…
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BAT spikes as it joins race to develop a Covid-19 vaccine London-listed stocks sank on Wednesday after the UK reported its largest daily death toll from the coronavirus, at 563, taking the total past 2,000. The FTSE 100 and FTSE 250 both sank by just under 4%, with the former now down 27.7% year-to-date. It…
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