Goldman Sachs Upgrades Brent Forecast to $100 a Barrel
January 18 2022 - 5:50AM
Dow Jones News
Goldman Sachs Raises Brent Forecasts to $100 a Barrel
0941 GMT - Goldman Sachs expects Brent oil prices to rise to
$100 a barrel in the third quarter of the year before climbing as
high as $105 by the first three months of 2023. GS expects OECD
inventories to fall to their lowest level since 2000 this summer as
demand remains robust in the face of new variants of Covid-19. At
the same time, the bank doubts the capacity of OPEC+ nations to
raise supply sufficiently. The bank argues only demand destruction
can help balance the market, which will "require ever rising oil
prices given the reluctance to invest in oil during the energy
transition and the gradual depletion of shale's geological,
midstream and service capacities." (william.horner@wsj.com)
Companies News:
Rio Tinto's Australian Iron-Ore Shipments Fall
Rio Tinto's annual iron-ore shipments from its Australian mining
operations fell by 3% in 2021 with projects disrupted by a worker
shortage and supply chain issues, but expects shipments will likely
increase this year.
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Genel Energy Expects Cash Flow to More Than Double in 2022
Genel Energy PLC said Tuesday that it expects cash flow to more
than double in 2022.
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888 Holdings Sees 2021 Revenue Growth of 14% on Expansion in
Regulated Markets
888 Holdings PLC said Tuesday that it expects to report revenue
growth of 14% for 2021, driven by an expansion in regulated
markets.
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Henry Boot Sees 2021 Pretax Profit Beating Market Views
Henry Boot PLC said Tuesday that it ended 2021 with a pretax
profit materially ahead of the market's expectations and that it is
making good progress against its new medium-term strategic
targets.
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Elementis 4Q Performance in Talc Division Below Year-Earlier
Period
Elementis PLC said Tuesday that performance in its Talc division
in the fourth quarter was below that from a year earlier because of
reduced automotive-related demand stemming from semiconductor
supply shortages.
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Energean Adjusted Earnings Jumped 88% in 2021
Energean PLC on Tuesday reported that its adjusted earnings
nearly doubled in 2021.
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ProCook Sees 3Q Revenue Growth, Gross Margin Fall
ProCook Group PLC said Tuesday that it expects to report a
revenue increase for its third quarter but a gross margin decline
in line with its expectations amid supply-chain issues.
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Brickability Sees FY 2022 Adjusted Ebitda Rising Ahead of Market
Views
Brickability Group PLC said Tuesday that it expects its fiscal
2022 adjusted Ebitda to exceed current market expectations.
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THG Expects FY 2022 Growth Margins to Get Boost From Strong
Demand
THG PLC said Tuesday that it expects 2022 growth margins to
improve, as the company benefits from continued strong demand, and
that it remains confident about its growth plans.
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Petra Diamonds 1H Revenue Rose 49%
Petra Diamonds Ltd. on Tuesday reported revenue rose 49% in the
first half of the fiscal year.
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Just Group Expects 2021 Capital Generation to More Than
Double
Just Group PLC said Tuesday that capital generation for 2021 is
expected to more than double from the prior year, and that it would
beat the board's expectations a year earlier than anticipated.
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Evgen Pharma Shares Rise on Licensing Deal for Sulforaphane
Analogues
Shares in Evgen Pharma PLC traded higher on Tuesday after the
company said it has secured a licensing agreement for sulforaphane
analogues.
Market Talk:
Kape Technologies Set for Significant 2022 Earnings Growth
1002 GMT - Kape Technologies trades at an attractive valuation
on both a relative and historical basis, leaving ample room for
share-price performance as results are delivered, says Shore
Capital. The U.K. digital-security and privacy software company
delivered strong growth for 2021, with revenue expected
substantially ahead of previous guidance at around $230.5 million,
and 2022 is set for significant earnings growth in a fast-growing
space, the U.K. investment group says. "Kape is at the top of its
game entering 2022 with a large base of recurring revenues, healthy
SaaS metrics and strong growth prospects," Shore says. Kape
Technologies is a house stock of Shore Capital.
(kyle.morris@dowjones.com)
Copper Edges Lower as Stocks Climb
0955 GMT - Copper prices weaken as inventories climb to a
two-month high. Three-month copper on the LME drops 1% to $9,661 a
metric ton. After falling almost constantly since August 2021, LME
stocks of the red metal have turned higher this year rising to
94,525 tons this week. However, supply risks could still support
prices after Peruvian community groups on Monday rejected the
latest proposals to end a standoff with a major mine. The
communities have been blockading access to the Las Bambas copper
mine over environmental concerns. Peru is the world's
second-largest copper producer and Las Bambas is the second-largest
mine in the South American nation. (william.horner@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
January 18, 2022 05:35 ET (10:35 GMT)
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