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FTSE 100 Live: Royal Mail To Pay £200m Divi, Stockpile Move Sends Oil Lower


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oyal Mail is about to ship a bonus to posties and different shareholders after half-year outcomes immediately included a £200 million particular dividend.

Different beneficiaries will embrace multibillionaire Daniel Kretinsky, often known as the Czech Sphinx, who has constructed a 15% stake within the firm. Royal Mail’s newest figures present gross sales up 7% to £6 billion and pre-tax income of £315 million because it advantages from the net buying increase.

Alongside one other busy day for outcomes, buyers can be maintaining a detailed eye on the oil market after Brent crude dipped beneath $80 a barrel on stories that main oil consuming nations are planning to launch their strategic reserves in an effort to curb value pressures.

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Stockpile launch plan sends oil decrease

Brent crude is beneath $80 a barrel for the primary time in six weeks, pushed decrease by stories that main oil consuming nations are planning to launch a few of their strategic reserves.

The Reuters information company mentioned the Biden administration had requested China, Japan and different large crude customers a couple of coordinated launch of stockpiles in an effort to decrease vitality costs.

The transfer comes amid a backlash over American pump costs and different inflationary pressures, elements which have led to fears a couple of potential brake on the US financial restoration.

Brent crude futures fell one other 0.7% this morning to $79.77 a barrel, whereas West Texas Intermediate crude has now dipped 5% prior to now two days to beneath $77 a barrel.

There’s been no respite for European pure gasoline costs, nonetheless, after the German regulator’s choice to briefly droop certification for Nord Stream 2 added to fears that Europe will face provide points over the winter.

One different issue placing downward strain on the oil value has been the newest surge in Covid-19 instances in Europe, with German chancellor Angela Merkel warning her nation is within the grip of a “dramatic” fourth wave.

This newest risk to the financial restoration is prone to contribute to a subdued session for European markets, with the FTSE 100 index anticipated to proceed this week’s lacklustre efficiency by falling six factors to 7285.

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