"Shell's reporting shows a 28% drop in profits, illustrating the ongoing impact of lower oil prices following the post-pandemic recovery and global economic changes."
"NatWest is moving closer to full privatisation, reducing the government's stake to under 2%. This reflects a significant recovery and growth in profitability for the bank."
The FTSE 100 index experienced a 1% surge at opening, primarily fueled by Shell and NatWest, which saw their shares rise by 4% and 3.7%, respectively. Despite a substantial 28% decrease in Shell's profits, attributed to plummeting oil prices, the company's results exceeded analyst expectations. Meanwhile, NatWest reported a notable 36% profit increase and moved closer to complete privatisation, reducing government ownership to under 2%. Both companies are navigating complex economic landscapes, influenced by global market shifts and production strategies.
Read at www.theguardian.com
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