Oil Search has made a takeover bid for Papua LNG minority player InterOil, intent on expanding the potential for collaboration with PNG LNG.
Brokers have returned from Woodside Petroleum’s investor briefing accepting the company is making the best of a challenging oil price environment while noting progress is slow.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Weak economic outlook; election and retailing; pay-out ratios for A-REITs; hotels & the internet; domestic gas policy; NZ general insurers.
Fed officials seemed determined to prepare the market for a rate hike. Dow down 91. (Accessible only for subscribers before 10:15 AEST)
The potential for a June rate hike is greater than assumed, according to the Fed minutes. After a wild ride, Dow down 3. (Accessible only for subscribers before 10:15 AEST)
LNG offtake expiries; pick up in ferrochrome; improving fundamentals in iron ore; rapid fall in steel; rise in tin; loss making continues in nickel; demand growth for cobalt.
Bid for AWE and near and longer term oil trends; silver outperforms; ample zinc stocks; and Macquarie upgrades near term outlook for iron ore.
A jump in US CPI had investors running for the hills ahead of a June Fed rate hike last night. Dow down 180. (Accessible only for subscribers before 10:15 AEST)
Warren Buffet last night revealed he’d bought into Apple. Dow up 175. (Accessible only for subscribers before 10:15 AEST)