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Headlines from the Proactive UK newsroom.
The FTSE 100 recovered from a weak start to add 18 points this morning
at 5,865 despite weak oil and poor numbers from BP and HSBC.
Crude prices slumped below US$11 per barrel again as a major US oil fund
dumped its holdings and BP issued a gloomy set of quarterly numbers.
The UK oil giant maintained its first-quarter dividend despite reporting
a US$4.36bn loss for the three month period as the coronavirus pandemic
and a big drop in oil demand took its toll.
HSBC meanwhile saw quarterly profits slump by 48% reflecting a massive
US$2.4bn increase in provisions for potential credit losses due to the
coronavirus pandemic, low oil prices and “corporate exposure in
Singapore”. Pre-tax profit for the first quarter was US$3.2bn.
People are reverting to shopping the old way of one trip a week
according to Tesco boss Dave Lewis. Transactions at the supermarket’s
shops halved in April but the size of the basket doubled, he said.
Elsewhere, shares in Erris (LON:ERIS) Resources rocketed higher as
recent sampling hit the highest grades yet from its Loch Tay gold
project in Scotland. Nine samples returned more than 5 grammes per tonne
with the best above 17/g/t.
European Metals’ (LON:EMH) Czech subsidiary Geomet has received €29.1mln
following completion of its deal with power company, CEZ, over the
Cinovec lithium project. The payment will fund Cinovec to the decision
to construct.
At a Glance
https://simplywall.st/stocks/gb/energy/lse-bp./bp-shares
https://simplywall.st/stocks/gb/banks/lse-hsba/hsbc-holdings-shares
https://simplywall.st/stocks/gb/materials/aim-eris/erris-resources-shares
https://simplywall.st/stocks/gb/materials/aim-emh/european-metals-holdings-shares
At a Glance
https://simplywall.st/stocks/gb/energy/lse-bp./bp-shares
https://simplywall.st/stocks/gb/banks/lse-hsba/hsbc-holdings-shares
https://simplywall.st/stocks/gb/materials/aim-eris/erris-resources-shares
https://simplywall.st/stocks/gb/materials/aim-emh/european-metals-holdings-shares
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