| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3912 Registered: 05-2011 Posted From: 24.164.46.35 Rating: N/A |
ector Briefing: Energy (62.06 +0.91) Six sectors continue trading below their flat lines while energy (+1.5%) holds the lead. Key factors driving today's performance include: Support from a higher price of oil. WTI crude is up $2.53, or 3.2%, at $80.76/bbl, overtaking last week's high (80.47). Strong leadership from top component Exxon Mobil (XOM 69.93, +1.46, +2.1%) and gains in all but three of the remaining components resulting in a continuation of a strong start to the year. The sector has gained 11.9% so far in January versus a 1.8% month-to-date loss in the S&P 500 (+0.2%). Notable movers: APA (APA 30.64, +1.22, +4.2%): best performer in the sector, approaching its high from November (31.14). Occidental Petroleum (OXY 33.63, +1.25, +3.9%): returning to last week's high (33.82). Baker Hughes (BKR 26.81, +0.74, +2.8%): approaching its October high (27.66). Phillips 66 (PSX 86.01, +2.15, +2.6%): rising for the fourth consecutive day to its best level since early July. NOV (NOV 15.56, +0.35, +2.3%): nearing its October high (15.85). Valero (VLO 82.84, +1.81, +2.2%): revisiting its October high (83.12). Schlumberger (SLB 35.89, +0.77, +2.2%): rising to its best level since mid-June. Exxon Mobil (XOM 69.93, +1.46, +2.1%): rising to its best level in nearly two years. Company acquired a 49.9% stake in Biojet AS. Marathon Petroleum (MPC 71.91, +1.46, +2.1%): rising to its best level since October 2018. EOG Resources (EOG 99.13, +1.07, +1.1%): rising to its best level since April 2019. Chevron (CVX 126.38, +1.27, +1.0%): rising to its best level since July 2019. TechnipFMC (FTI 6.64, -0.14, -2.0%): weakest performer in the sector, falling back to its 50-day moving average (6.46). Company sold a 9 mln share stake in Technip Energies for EUR13.15/share. |