February, 2021

• 10 February

  Roaring reflation trade rips $640mn from long-bond ETF

  

  Bloomberg Exchange-traded fund (ETF) investors are dumping Treasuries in a hurry as bets on a global rebound in inflation build across asset classes. Roughly $639 million was pulled from the $15.7 billion iShares 20+ Year Treasury Bond ETF (ticker TLT), according to data compiled by Bloomberg. That was the fund’s biggest single-day outflow since March, when the coronavirus pandemic fuelled a …

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• 10 February

  Maersk shares sink after outlook for 2021 disappoints

  Bloomberg A P Moller-Maersk A/S, the world’s largest container carrier, unveiled an outlook that disappointed the market amid signs freight rates are close to peaking. Shares in the Copenhagen-based company slumped about 8% when trading started in the Danish capital. Underlying Ebitda for 2021 is expected to rise to between $8.5 billion and $10.5 billion, the Copenhagen-based company said on …

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• 10 February

  Thirst for yield witnesses oil market holdings rise higher

  

  Bloomberg The crude market is now offering its biggest yield in about a year — at a time when other asset classes are offering meager returns — causing a surge in investor appetite for the commodity. As oil futures power to $60 a barrel, the market’s forward curve has moved sharply into a pricing pattern where nearer-dated contracts are more …

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• 10 February

  WHO rejects virus lab theory, saying animals likely source

  

  Bloomberg A World Health Organization (WHO) investigation in China found that the coronavirus most likely jumped to humans through an animal host or frozen wildlife products, finding that it’s “extremely unlikely” it came from a laboratory leak. No further research is needed to look into the theory about a leak, Peter Ben Embarek, a WHO official, told reporters on Tuesday …

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• 10 February

  Big Oil takes over next generation of UK offshore wind

  

  Bloomberg Oil majors paid a hefty premium to develop the next generation of major British offshore wind farms after BP Plc and Total SE won contracts in an auction ahead of many of the utilities that have dominated the space until now. The Crown Estate auctioned seabed rights that will allow about 8 gigawatts of new wind farms, enough to …

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• 10 February

  Total beats earnings expectations in Q4

  Bloomberg Total SE bucked the trend of a disappointing fourth quarter for Big Oil, reporting earnings that exceeded expectations and pledging more cash for cleaner energy. The results show once again how the French giant has proved more resilient than its peers throughout downturn caused by coronavirus pandemic. As its more heavily indebted rivals have stumbled, Total led the way …

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• 10 February

  Holiday giant TUI betting on UK jabs to rescue its summer

  

  Bloomberg TUI AG stuck with plans to offer four-fifths of its usual holiday program this summer, betting on a surge in demand from Britain to fill hotel rooms as the country’s Covid-19 vaccination program gathers pace. The world’s biggest tour operator said in a statement on Tuesday that while current sales are at only 56% of 2019 levels, prices are …

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• 10 February

  KLM makes first regular flight with sustainable fuel

  

  Bloomberg Air France-KLM’s Dutch arm operated a passenger flight from Amsterdam to Madrid that the carrier says was the first in the world to use sustainably derived synthetic aviation fuel. The Boeing Co 737-800 narrow-body plane carried 500 litres of the fuel produced by Royal Dutch Shell Plc, equating to more than 5% of the total requirement for the trip, …

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• 10 February

  Kenya Air ramps up cargo capacity for flower season

  

  Bloomberg Kenya Airways Plc increased cargo capacity after its rival, Ethiopian Airlines, was allowed to deploy more freighters to help carry Kenyan flowers to Europe ahead of Valentine’s Day this weekend. The Kenyan airline adapted a passenger Boeing 787 Dreamliner to start carrying cargo, and help meet more flower orders. The conversion and increased flight frequencies will add as much …

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• 10 February

  British Airways plans its 2022 test with LanzaJet

  

  Bloomberg British Airways is partnering with LanzaJet for sustainable aviation fuel as part of the carrier’s plans to decarbonise by 2050, amid rising pressure on the aviation industry to cut emissions. The US startup will supply ethanol-derived fuel from its Freedom Pines Fuels facility in Georgia, and British Airways will use it to power some flights starting in late 2022, …

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