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The below stocks have been identified as having potential to register bigger than normal share price moves (up or down) today based on the news cited
BP (BP.L), Cairn Energy (CNE.L), Royal Dutch Shell (RDSb.L) Tullow Oil (TLW.L) - Saudi Arabia made a large cut in its crude output in January to support prices and lessen a glut, helping boost
compliance to a record high of more than 90%. OPEC is curbing its output by about 1.2m bpd, the first cut in eight years. Supply from the 11 OPEC members with production targets under the deal fell to 29.888m bpd last month. Closing prices 459.60p, 235.20p, 2275.00p, 279.60p (Bloomberg)
Acacia Mining (ACAA.L) - Said 2016 saw record gold production and successfully reduced costs by 14%, doubling net cash position. 2017 production would be lifted 40% by a mine life extension at Buzwagi, enabling an increase in its dividend by more than double to 8.4cp share. Closing price 464.70p (Reuters)
Glencore Plc (GLEN.L) - Agreed to a $960m deal that will boost ownership of two giant Congolese cobalt and copper mines, severing its ties with controversial Israeli billionaire Dan Gertler. The deal marks another step in Glencore’s turnaround from the commodities crisis. After selling $10bn in assets and cutting debt, it’s returning to dealmaking as commodity prices quickly rebound. Closing price 328.95p (Bloomberg)
Rolls-Royce (RR.L) – Reported its full year 2016 adjusted revenue of £13.8bn beating estimates of £13.4bn coming in at the top end of the anticipated £12.7bn-£14.0bn range. It also beat on adjusted pretax profit of £813m against expectations of £685m. Closing price 740.00p (Bloomberg)
TUI AG (TUIT.L) European tour operator TUI reported a narrower loss for Q1, although its German TUIFly unit was hit by costs of around €22m. Closing price 1161pp (Reuters)
For more information on any of these individual news items, call into the trading floor
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