Oil companies

Oil: Shale Versus Sheikh

OPEC’s supply deal extension seems to have become a formality only after Saudi Arabia and Russia pledged their support. The persistent supply glut and reviving shale boom question the deal’s effectiveness. Julius Baer’s analysts see oil prices trading sideways.

Emmanuel Macron

Macron’s victory may increase appetite for European equities

The Corner | Everything went by the book, as investor’s preferred candidate Emmanuel Macron comfortably won the French elections against far-rightist Marine Le Pen by more than 30 percentage points. The euro came last night at times to surpass the level of $ 1.10 per unity against the dollar (although it lost this level in the Asian markets this morning). European stocks are expected to gain.

Iceland's banks supervision

IMF (Still) Worried: Political Pressure On Bank Supervisors In Iceland

It beggars belief: over eight years from a calamitous financial crash in Iceland, much to do with failed financial supervision, there is still reason to worry about financial supervision in Iceland. Or rather, there is again reason to worry now that the sheltering capital controls are for all intents and purposes abolished Iceland. All of this, according to the latest IMF conclusion.

Rajoy’s investiture kicks off

As we have already said there are moments when the economic and political cycles don’t go hand in hand. Yesterday, the investiture of caretaker Prime Minister Mariano Rajoy got underway, with very slight possibilities of his being able to win enough votes to return to office with a majority. But the Ibex 35 blue chip index didn’t even move: in fact it posted a nearly 1% gain.

Perseverare Diabolicum

Last week the Council decided that Spain and Portugal’s recent efforts to reduce deficit were not enough. This lead to the two countries being fined, the first time this happens since the inception of the euro.