Sunday, June 24, 2018

Morgan Stanley News

Mexicans fear gasoline hike resulting in higher food prices

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Mexicans who already feel the pinch from a gasoline price hike share economists fears it will now drive up the cost of food and other basics, adding to the unpopularity of the government ahead of elections this year and next. Riots that broke out after a 14 percent increase in regular gas prices on Jan.

Morgan Stanley Raises Brent Forecast

File Image: a typical offshore North Sea installation (Credit: Craig International)

Morgan Stanley has raised its Brent crude oil price forecasts saying strong demand for middle distillates will drive up oil prices over the next two years. Oil benchmarks on Wednesday remained close to their November 2014 highs hit on Tuesday, as ongoing production cuts by OPEC and the prospect of U.S.

LyondellBasel Valued Braskem at $11.4 billion

LyondellBasell Industries has valued Brazilian petrochemical company Braskem SA at 41.5 billion reais ($11.4 billion) in an offer to Brazilian conglomerate Odebrecht SA months ago, newspaper Valor Econômico reported on Thursday. LyondellBasell made the offer in February but talks stalled in early May…

Saudi Aramco taps JPMorgan, M.Stanley for IPO

Listing of Aramco could raise up to $100 billion. Oil giant Saudi Aramco has asked JPMorgan Chase & Co and Morgan Stanley to assist with its upcoming mammoth IPO and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter said. The U.S.

BB Energy buys Morgan Stanley's Aussie Diesel Terminal

BB Energy has bought Morgan Stanley's diesel terminal in Australia as the oil trader expands outside its core European and Middle East markets, the trading company said on Tuesday. The U.S. bank and its peers JPMorgan Chase & Co, Deutsche Bank and Goldman Sachs have been selling their physical commodity interests after the U.S.

Deutsche, Morgan Stanley Bullish on European Energy

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Two big brokers have given a thumbs up to the European oil & gas sector on attractive valuations. The sector, the second-worst performers in the region so far this year, as stocks were hit by weakness in crude oil prices and have failed to keep up with their subsequent recovery. Oil and gas stocks are down 1.3 percent…

Morgan Stanley to Sell Global Oil Merchanting Business to CCI

Morgan Stanley said it would sell its Global Oil Merchanting business to Castleton Commodities International LLC, a privately held U.S. energy merchant, for an undisclosed sum. The sale includes a network of oil terminal storage agreements, inventory, physical oil purchase, sale and supply agreements and freight shipping contracts, Morgan Stanley said.

Oil Discoveries Sink to Lowest since 1952 -Morgan Stanley

Exploration spending nearly halves after oil price drop; poor discovery record to impact future supplies. Oil discoveries in 2015 fell to their lowest since 1952 as energy companies slashed exploration budgets in the wake of the oil price fall, creating a gap for meeting future demand, analysts at Morgan Stanley said on Monday.

Noble Group taps Morgan Stanley, HSBC to advise on NAES Sale

Singapore-based commodities trader Noble Group said on Monday it has hired Morgan Stanley and HSBC as advisors on the planned sale of its Noble Americas Energy Solutions (NAES) unit, targeting completion of the deal in the second half of the year. The company began the sale process for…

OW Bunker Investors to Sue IPO banks

Institutional investors to sue Morgan Stanley, Carnegie. A group of institutional investors in OW Bunker said they plan to sue Morgan Stanley and Carnegie for about $80 million, accusing the two investment banks of misleading them ahead of the 2014 listing of the now bankrupt marine fuel oil supplier.

Rosneft Could Exit Morgan Stanley Oil Deal

Rosneft, Russia's biggest crude oil producer, may back out of a deal to buy Morgan Stanley 's oil trading unit because Western sanctions make it virtually impossible to finance day-to-day operations, three sources close to the state-controlled company said. The business in question trades…

OW Bunkers Investors in Legal Action Against IPO Banks

A group of 24 Danish institutional investors in OW Bunker has decided to issue a writ against Carnegie and Morgan Stanley, accusing them of misleading investors ahead of the 2014 listing of the now bankrupt marine fuel oil supplier. The investors, which include two of the largest pension funds in Denmark…

Oil Slides on Oversupply, Economic Headwinds

Oil prices fell on Monday, holding near two-month lows amid worries that a global glut of crude and refined products would weigh on markets for some time. Brent crude futures were trading at $45.34 a barrel at 1149 GMT, down 35 cents from their previous close, while U.S. crude was down 37 cents at $43.82 a barrel.

Oil Falls Below $49 but Set for Weekly Rise on OPEC Hopes, U.S. Stocks

Oil prices edged lower on Friday but were still set for their first weekly gain in three weeks after Russia and Saudi Arabia agreed to work together to help rebalance the markets and after a surprisingly large drawdown in U.S. crude stocks. Brent and West Texas Intermediate crude futures…

Federal Reserve Proposes New Limits on Wall Street Energy Bets

The Federal Reserve on Friday outlined a plan to limit Wall Street bets on the energy sector by forcing enterprises like Goldman Sachs and Morgan Stanley to hold more capital against such investments. Under current law, Goldman Sachs Group Inc and Morgan Stanley may invest in energy storage…

Oil Rises on Saudi Talk of Extending Output Cuts into 2019

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Oil prices rose on Friday after the Saudi energy minister said OPEC would need to keep coordinating supply cuts with non-member countries including Russia into 2019. Oil's rise defied a slump in global stock markets, which fell in response to worries about a trade stand-off between the United States and China.

Goldman, Morgan Report Strong Commodity Results

Goldman says commodity revenue significantly higher; Morgan Stanley says "strong performance" bolstered FICC. Both banks may be benefiting from rivals scaling back. Goldman Sachs and Morgan Stanley both reported stronger net revenue in commodities trading during the first quarter on Thursday…

Morgan Stanley Exiting Solar Business with Fixed Income Cuts

Morgan Stanley is winding down a group that develops and structures North American solar projects as part of a plan to cut up to 25 percent of jobs in its fixed income business, people familiar with the matter said on Wednesday. A spokesman at Morgan Stanley declined to comment. Morgan Stanley is cutting around 1…

Morgan Stanley Focuses on Smaller, Smarter Trades

Nancy King, global head of commodities trading at Morgan Stanley, has spent the last few years remodeling what used to be one of the most profitable units on Wall Street, by downsizing and focusing on smaller, smart trades for customers instead of the big, risky bets it used to make on its own account.

Books for Pemex US Dollar Bond Reach US$30bn

Books for a new up to three-part US dollar bond from Petroleos Mexicanos have reached US$30bn, according to a lead on the deal. Pemex, the Mexican state-owned oil company, is selling a long 10-year bond with IPTs at 7% - low 7% and fixed and floating long five-year bonds with IPTs at 6% - low 6% and Libor equivalent.