Stocks

Bloomberg Tullow Oil Plc shares had their biggest ever drop after a forecast for 2020 production that analysts said leaves dark clouds hanging over the company’s outlook. The stock sank as much as 62% after London-based Tullow also said it would suspend dividend payments, while its chief executive officer and exploration director are to leave. It’s the second plunge in ...

Bloomberg PG&E Corp surged to a two-month high after reaching a $13.5 billion settlement with the victims of wildfires ignited by its power lines — a major step towards resolving the biggest utility bankruptcy in US history. The agreement, will cover claims stemming from some of the worst blazes to ever hit Northern California, including the 2017 wine country and ...

Bloomberg Anything is still possible for next week’s UK election, but one outcome would suit many stock investors better than most. “For equities, the best result is a decent Conservative majority,” said Kim Catechis, head of investment strategy at Martin Currie, an affiliate of Legg Mason Inc., managing about $17 billion. A decisive victory for Boris Johnson would see domestic ...

Bloomberg Saudi Arabia’s main equity index advanced the most in more than a year after the pricing of Saudi Aramco’s initial public offering and amid hopes of higher oil prices. The Tadawul All Share Index rose 2.4% on Sunday, the most for a session since October 2018. The kingdom raised $25.6 billion from the world’s biggest IPO after selling shares ...

Bloomberg Marfrig Global Foods SA announced an equity offering that will allow Brazilian development bank BNDES to sell its stake in the world’s second-largest beef producer. BNDESPar, the bank’s investment arm, plans to sell about 209.6 million shares, which is all of its 33.74% stake, Marfrig said in a regulatory filing. The company will sell about 90 million shares. The ...

Bloomberg US equity futures advanced with European stocks after a news report that China and America were moving closer to a trade deal, despite heated rhetoric. Treasuries and gold slipped. Contracts on three main American index futures rebounded after Bloomberg reported US negotiators expect a phase-one deal with China to be completed before tariffs are set to rise on December ...

Bloomberg Alibaba Group Holding Ltd’s landmark $11 billion share sale and listing in Hong Kong on November 26 was galvanised by expectations the Chinese e-commerce giant will attract a vast pool of capital from its home country. But some investors caution against unrealistic expectations, especially by mainland investors, and highlight certain restrictions that still govern — and potentially curtail — ...

Bloomberg After two years of stagnant growth, Indonesian stocks will hit a record in 2020, when President Joko Widodo’s policies to shore up the economy take effect, say analysts from JPMorgan and Morgan Stanley. JPMorgan, which says it’s the most bullish on the Street, sees the benchmark Jakarta Composite Index rallying 19% from the current level to a record 7,250 ...

Bloomberg US equity futures edged up while stocks climbed globally as the risk-on mood that’s driven American benchmarks to record highs showed few signs of abating. The dollar gained and Treasury yields rose after data on economic growth and claims for unemployment beat analysts’ expectations. Contracts on the S&P 500 trimmed some of its advance as farm-equipment maker Deere & ...

Bloomberg A third Hong Kong stock in less than a week lost most of its value in a sudden one-day plunge, underscoring concern that the $5.2 trillion market has become a breeding ground for wild volatility. China First Capital Group, an investment company that focusses on financial and education services, plunged as much as 78% on Wednesday before trading was ...