|Bid||92.95 x 800|
|Ask||92.96 x 900|
|Day's range||92.55 - 93.50|
|52-week range||69.69 - 95.56|
|Beta (3Y monthly)||0.49|
|PE ratio (TTM)||25.23|
|Earnings date||6 Feb 2020|
|Forward dividend & yield||1.10 (1.18%)|
|1y target est||102.82|
Nasdaq is to sell its commodities futures business to an exchange owned by Deutsche Börse, ending a four-year effort to break into energy markets dominated by US rivals CME Group and Intercontinental Exchange. EEX, controlled by the German exchange, said it would pay an undisclosed sum to buy the business, known as NFX, which hosts oil and freight futures contracts.
Intercontinental Exchange is to launch a new exchange in Abu Dhabi to host the first futures contract based on the state oil company’s Murban crude. Abu Dhabi National Oil Company will join other oil majors and traders as founder partners in Ice Futures Abu Dhabi, which will be established in Abu Dhabi Global Market, the financial centre of the United Arab Emirates capital, Adnoc’s chief executive said on Monday.
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(Bloomberg) -- Oil-rich Abu Dhabi plans next year to start a commodities exchange to offer trading in the emirate’s first crude futures contract.The platform will be based in Abu Dhabi’s financial district and operated by Intercontinental Exchange Inc., according to people with knowledge of the situation. Atlanta-based ICE will be the majority owner, with Abu Dhabi National Oil Co. and several European and Asian oil companies and traders taking minority stakes, the people said, asking not to be identified because the information isn’t public.Media officials for ICE and government-run Adnoc declined to comment.Although oil producers across the Persian Gulf pump about a fifth of the world’s oil, they have never had a region-wide, exchange-traded crude benchmark. Adnoc wants the new futures contract for its flagship Murban crude to eventually serve that function.Futures trading “is going to capture more value” from the sales, U.A.E. Energy Minister Suhail Al-Mazrouei said Wednesday. Abu Dhabi’s production and reserves are large enough to support Murban as a benchmark, though “we will wait and see” whether regional producers adopt the contract as a basis for pricing, he told reporters.Adnoc confirmed this week that it would offer futures in its Murban grade during the second or third quarter of 2020, without specifying where the contract would be listed. Murban is Adnoc’s most plentiful grade, at about 1.7 million barrels a day, and accounts for more than half of the crude pumped in the United Arab Emirates. Abu Dhabi holds most of the oil in the U.A.E., the third-largest producer in the Organization of Petroleum Exporting Countries.Abu Dhabi won’t be the first regional producer to offer futures contracts for its crude. Oman and the neighboring U.A.E. emirate of Dubai joined with CME Group Inc. in 2007 to start the Dubai Mercantile Exchange to trade Omani crude futures. Oman, Dubai and Saudi Arabia are the only producers in the Gulf to price off the contract; most of the others base their monthly crude pricing on the Dubai and Oman crude price assessments by S&P Global Inc.’s Platts.Murban is lighter and contains less sulfur than most Middle Eastern crudes, making it easier to refine. It generally fetches higher prices on global markets and is similar in quality to Brent crude, the global benchmark. Brent crude futures are traded on the London-based ICE Futures Europe Exchange.\--With assistance from Mahmoud Habboush.To contact the reporter on this story: Anthony DiPaola in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Nayla Razzouk at email@example.com, Bruce StanleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Abu Dhabi is preparing to shake up the way its oil is traded, creating a new benchmark to rival the likes of Brent and WTI as part of a modernisation drive at Adnoc, the national producer. The Abu Dhabi National Oil Company will for the first time start trading futures contracts of its flagship Murban crude oil next year on an international exchange, as part of a radical overhaul that is intended to maximise revenue from the emirate’s main natural resource. People briefed on the move said Adnoc was close to choosing Intercontinental Exchange, or ICE, as the home for these futures.
(Bloomberg Opinion) -- There’s been some chatter in markets that the rebound in equities this month and a re-steepening of the Treasury market’s yield curve are signs that investors believe the global economic outlook is looking up – or at least not getting any worse. As indicators go, those are fine, but perhaps the most telling may be the dollar.The Bloomberg Dollar Spot Index — which measures the U.S. currency against a basket of major peers — is on track for its worst month since January 2018, falling 1.94% as of Thursday. That’s actually a positive: It suggests the risks that lured global investors into the safety of the dollar in September, pushing it to near-record highs by some measures, seem a little less threatening.U.S.-China trade tensions have ratcheted down, with both sides expressing a desire to reach a partial deal to minimize further damage to the world’s two biggest economies, even if a larger agreement is still unresolved. Developments suggest the U.K. may be able to avoid crashing out of the European Union in a no-deal Brexit, reducing much of the uncertainty weighing on Europe’s economy. Major central banks led by the Federal Reserve are back in easing mode, or at least not tightening. And the International Monetary Fund’s annual meeting in Washington earlier this month wasn’t as dour as many expected, with the group actually forecasting faster growth next year.Of course, few are suggesting the economy has turned the corner. The odds of conditions worsening are still high, keeping the dollar relatively strong. But the rush to the greenback has subsided, and that’s a welcome sign. It’s also worth noting how beneficial the recent dollar weakness has been to supporting growth, starting with trade.Prices of most goods traded around the world are set in U.S. dollars, and that is only growing. The U.S. currency accounts for 40% of global payments, up from less than 30% as recently as 2012, according to the Swift messaging network that enables cross-border payments worldwide. As such, broad-based dollar depreciation can lead to lower import prices globally, supporting consumption and investment, according to a report last week by Capital Economics global economist Simon MacAdam.This helps explain why non-U.S. equities are outperforming American stocks by the most since December, as well as the big rally in emerging-market assets despite geopolitical turmoil in places such as Hong Kong, Turkey and Chile. The MSCI EM Index of equities rose on Tuesday to its highest level since July, while a sister gauge of currencies is the highest since the start of August. It’s a welcome development because it suggests investors believe that emerging-market borrowers will be in a better position to repay the trillions of dollars’ worth of greenback-denominated debt they have taken out in recent years. “Selling the U.S. dollar against a basket of EM currencies is the most attractive” way to bet against the greenback, James McCormick, the global head of desk strategy at NatWest Markets, wrote in a research note last week.It’s notable that currency strategists have stopped raising their dollar forecasts and are even trimming them for the first time since June, according to data compiled by Bloomberg. They now see Intercontinental Exchange Inc.’s U.S. Dollar Index, which was trading at around 97.306 on Thursday, ending the year at 97.7, down from an average estimate of 98.45 last month. They see the gauge dropping to 96.10 by the end of the first quarter, down from a prior call of 97.20 in September. Forecasting currencies can be more difficult than playing three-dimensional chess, but if the strategists are right and the dollar heads lower, the global economy will be a prime beneficiary.To contact the author of this story: Robert Burgess at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Robert Burgess is an editor for Bloomberg Opinion. He is the former global executive editor in charge of financial markets for Bloomberg News. As managing editor, he led the company’s news coverage of credit markets during the global financial crisis.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
ICE (ICE) delivered earnings and revenue surprises of 11.58% and 1.16%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Intercontinental Exchange (ICE) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Cboe Global's (CBOE) third-quarter results are likely to have benefited from strong market position and strength in its proprietary products
(Bloomberg) -- The push to integrate cryptocurrencies into global commerce looks a step closer to reality.Intercontinental Exchange Inc. said Monday that it will begin testing its consumer app for digital assets with its partner Starbucks Inc. in the first half of 2020. That follows a jump in Bitcoin futures on the exchange to a record.A total 1,179 monthly Bitcoin futures changed hands on Oct. 25, according to the company. None of the daily contracts traded. The ICE contracts differ from other Bitcoin derivatives because they deliver actual Bitcoin if held to expiration, unlike cash-settled contracts at competitor CME Group Inc.“We’ve assembled a strong team of payments engineers and are nearing completion of our core payments and compliance platform,” Mike Blandina, chief product officer at ICE’s Bakkt unit, said in a blog post. “We’re now focused on the development of the consumer app and merchant portal, as well as testing with our first launch partner, Starbucks, which we expect in the first half of next year.”The Friday volume was four times the 288 contracts traded on Oct. 24 and nearly double the 590 contracts traded on Oct. 23. Only 80 monthly contracts traded Oct. 22, according to the company.The beverage retailer teamed up with ICE and several other partners in August 2018 to create the Bakkt venture.To contact the reporter on this story: Matthew Leising in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Dave Liedtka, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Intercontinental Exchange's (ICE) third-quarter earnings are likely to have benefited from higher revenues and accretion from strategic acquisitions.
ICE (ICE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Dividend paying stocks like Intercontinental Exchange, Inc. (NYSE:ICE) tend to be popular with investors, and for good...
ICE (ICE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.