Royal Dutch Shell restores dividends, sparkling drillers, which buoyed the whole market
It’s a good day to be in oil! Stocks in Europe made headway when Royal Dutch Shell announced it restores full cash dividend in light of it managing to come out of the oil slump.
Everything else is restoring as well, albeit a bit on the red. Miners lagged cause metal prices kept sliding. Oil kept falling from it’s highest in more than 2 years in the eve of OPEC’s meeting later this week.
Pound went down after escalation of the Brexit talks. At the same time BoE said all lenders passed their stress tests for the first time since those exercises are made.
Looks turning on the other side of the pond, where future Fed chair Jerome Powell will be holding a hearing in Washington. In a statement to the Senate Banking Committee before the meeting he claimed he agrees with how Fed works, regulates and guides the economy.
Meanwhile Senate’s stating marathon debates this week for the introduction of the tax cuts legislation. Senators aim to hold floor vote on Thursday the earliest.