Oil up despite another rig count increase (SPY +0.6%). Oil prices end 2020 on a positive note, but suffer 20% annual fall as pandemic took toll on demand.
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Merger Mania Is Transforming Canadas Oil Scene Canadas oil landscape looks encouraging for 2021 as Whitecap Resources Inc. acquires two oil and gas companies in addition to mergers between other energy companies, with anticipated growth through the coming year as demand for energy steadily increases. In November, Whitecap Resources announced a plan to acquire rival company TORC Oil & Gas through an all-stock transaction of $704.12m equivalent. The deal is expected to go through by 25 February 2021, providing an encouraging outlook for the first quarter of next year. This merger
Premarket biggest movers: Exxon Mobil, Tribune Publishing, Apple, Tesla (SPY -0.07%. 2020 ends with around 20 million Americans still on jobless benefits.
Here is the current market situation from CNN Money
European markets finished broadly lower on Wednesday with shares in London leading the region. The FTSE 100 is down 1.45% while Germany s DAX is off 0.31% and France s CAC 40 is lower by 0.22%.
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Oilfield Service Giants Are Expanding Beyond Oil Tech The oilfield services sector is usually the one to suffer the most during an oil and gas industry downturn. This last crisis has been no exception in most respects. Drilling fell sharply this year in response to the demand slump in both oil and gas, budgets were cut and exploration plans shrunk. There was talk we might have already seen peak oil demand. The situation begged the question what happens to oilfield services beyond oil? To be fair, the world will
FinMin appoints Milliman Advisors for valuing LIC pre-IPO
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The firm was chosen from three in the race including EY Actuarial Services and Willis Towers Watson Actuarial Advisory.
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The government had invited interest for the appointment of an actuarial firm to determine the embedded value of LIC of India, taking the next step towards the public listing of the country’s largest public insurer.
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Milliman Advisors LLP India has been selected as the reporting actuary for the embedded value of Life Insurance Corporation of India.
The firm was chosen from three in the race including EY Actuarial Services and Willis Towers Watson Actuarial Advisory.
LIC IPO: Govt appoints Milliman Advisors to determine embedded value of the insurer
December 31, 2020
An Indian Embedded Value is a measure of the consolidated value of shareholders’ interest in the life insurance business. The Government on Thursday took one more step towards Initial Public Offer (IPO) of Life Insurance Corporation of India (LIC) by appointing Reporting Actuary.
“Government has selected Milliman Advisors LLP India as the Reporting Actuary for the Embedded Value of LIC,” Secretary of Department of Investment and Public Asset Management (DIPAM), Tuhin K Pandey said in a tweet. Further, he mentioned that work to start soon. Apart from Milliman, EY Actuarial Services LLP and Willis Towers Watson Actuarial Advisory LLP were in the fray.
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Nifty50 climbed for the fifth session on Thursday and closed above the 13,700 mark, a day after breaking out of a crucial resistance level.
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India 10-year bond yield edged 0.13 per cent higher at 5.95 after trading in 5.93-5.95 range.
Domestic stocks look set to open on a firm note on Friday, tracking record closing for US stocks in overnight trade, in hopes of passing a US stimulus package amid rising jobless claims in the world s largest economy.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 40.5 points, or 0.29 per cent, higher at 13,784.50, in signs that Dalal Street was headed for a positive start on Friday.