![]() ![]() It's a growing area of the business but it's still a minuscule part of Shell's earnings," he wrote. "But, just like BP, the stream of renewables businesses Shell has been snapping up gets only a nod towards the bottom of the page. "Dividends are in full flow and, like BP earlier this week, so are the share buybacks. They rose by a further 2% at the market open.įreetrade senior analyst Dan Lane said the shareholder rewards were eye-catching in the current energy price environment. Shares, which suffered along with the company's earnings during the worst of the COVID crisis, are up 37% in the year to date. "We have been engaging with governments, our customers and suppliers to work through the challenging implications and provide support and solutions where we can." "The impacts of this uncertainty and the higher cost that comes with it are being felt far and wide. He said: "The war in Ukraine is first and foremost a human tragedy, but it has also caused significant disruption to global energy markets and has shown that secure, reliable and affordable energy simply cannot be taken for granted. In his remarks to investors, chief executive Ben van Beurden gave a nod to the UK firm's efforts to bolster energy security amid the anticipated disruption to supplies caused by the West turning its back on Russia. Peer Entain (ENT.L)dropped 4.1% as its online sales fell for a second straight quarter.It expected shareholder distributions to exceed 30% of cashflow in the second half of the year. assets, allowing a smaller equity raise to fund the deal. If we do see a turndown in consumer confidence, that will impact housing and if actually consumer demand remains quite robust and allows the BoE to carry on raising rates, that's also going to be negative for house prices," said Park.Ĩ88 Holdings (888.L) surged 16.8% after the gambling firm and U.S.-based Caesars Entertainment (CZR.O) cut the deal value of William Hill's non-U.S. "We've got a fairly conservative view towards the housing sector. Overall, the sectoral index (.FTNMX402020) fell 3.5% after mortgage lender Halifax said British house prices grew strongly in March but the cost-of-living crisis clouded the outlook. Shares of the housebuilder tumbled 14.6% after it warned of lower annual profit following a business review of its operations. Britains FTSE 100 slid on Thursday, weighed down by oil major Shell after it flagged a bigger writedown following its decision to exit Russia, while a jump in shares of gambling firm 888 Holdings. Operating profit fell 10, cushioned by a. The domestically focused FTSE 250 midcap index (.FTMC) slipped 0.3%, dragged down by Countryside Partnerships (CSPC.L). Royal Dutch Shell took a big writedown on the value of North American shale assets, which combined with trouble in its Nigeria operations to wipe a fifth off its quarterly profits. Despite the writedown, Berkshire said second-quarter net income surged 87 because of gains in stock investments such as Apple Inc as markets rebounded. "The Fed minutes confirmed the feeling in markets, which was that 50 bp rate hikes were on the table and that quantitative tightening will begin in May even though the market believes economic growth will be impacted," said Edward Park, chief investment officer at Brooks Macdonald Asset Management.Ī Bank of England survey showed that British companies' expectations for output price inflation in the coming 12 months had hit a new high of 5.9% last month, while 48.5% of companies thought the Russia-Ukraine conflict would lower sales. ![]() Federal Reserve and amid the war in Ukraine that has elevated inflation. read moreīroadly, economy-linked sectors such as oil and gas, miners, banks and insurers fell on concerns over slower economic growth following hawkish signals from the U.S. The blue-chip index (.FTSE) closed 0.5% lower, with Shell (SHEL.L) falling 2.1% as it raised its Russia writedown to as much as $5 billion, more than previously disclosed. April 7 (Reuters) - Britain's FTSE 100 slid on Thursday, weighed down by oil major Shell after it flagged a bigger writedown following its decision to exit Russia, while a jump in shares of gambling firm 888 Holdings helped limit some losses on the midcap index. ![]()
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