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Markets

Factors to watch on April 10

Published Updated

Britain's FTSE 100 index is seen opening up 1 point at 7,426 on Wednesday, according to financial bookmakers.

SHELL: Royal Dutch Shell Plc is about halfway through a planned overhaul of the gasoline-producing Residual Catalytic Cracking Unit (RCCU) at its 218,200 barrel-per-day (bpd) Norco, Louisiana refinery, said sources familiar with plant operations.

INDIVIOR: The US Justice Department announced on Tuesday the indictment of Indivior Plc and a subsidiary on charges they engaged in an illegal scheme to boost prescriptions of the film version of its opioid addiction treatment Suboxone.

OIL: Oil prices moved little on Wednesday, supported by supply cuts by producer group OPEC and US sanctions against oil exporters Iran and Venezuela, but pressured by expectations that an economic slowdown could soon dent fuel consumption.

GOLD: Gold prices inched down on Wednesday as the dollar firmed, but the metal remained near a two-week peak hit in the previous session as equities slipped on concerns over global growth and trade tensions between the United States and Europe.

STANDARD CHARTERED: Standard Chartered Plc has agreed to pay $1.1 billion to US and British authorities for conducting illegal financial transactions that violated sanctions against Iran and other countries, government authorities announced on Tuesday.

RIO TINTO: Mining giant Rio Tinto said a fire had damaged a facility at one of its Pilbara iron ore operations, though there was no word on whether it would impact shipping of the mineral.

The UK blue chip index closed 0.4 percent lower on Tuesday, as the US and European Union exchanged tariff threats, the IMF cut global growth forecasts and oil majors slipped after Russia signalled an output boost, while investors awaited fresh Brexit updates.

Copyright Reuters, 2019

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