Saturday, 21 September 2019 08:49 GMT
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Tuesday's trending - oil price motorists Anglo American and biotech




(MENAFN - ProactiveInvestors)A general malaise in stock markets and slumping commodity prices were the order of the day on Tuesday. Big cap miner Anglo American  set the tone for the mining sector and indeed the wider sentiment announcing it would slash its workforce by nearly two-thirds and also suspend divi payments for a year. Steep falls in commodity prices as China's economy falters have forced Anglo and rivals to step up  production cuts and mine closures. The group is merging six businesses into three including De Beers diamonds industrial metals and bulk commodities. It will also combine its London office with that of De Beers in 2017. Meanwhile as investors look to US interest rate rise announced next week the oil price continues its descent. It has crashed to seven-year lows prompting ratings group Fitch to say countries in the Middle East and in Africa could see their sovereign credit ratings slashed if oil prices stay at their current low levels next year. However there was a glimmer for certain sectors of society - motorists.  The slide may send average US gas prices below $2 a gallon for the first time in nearly 7 years some analysts were reported as saying. STOCK RISERS AND FALLERS   TherapeuticsMD (NYSE TXMD) surged 37% to $9.14 after the women's health care product company unveiled positive top-line results from its pivotal late-stage Rejoice Trial of TX-004HR a vaginal estradiol softgel for the treatment of dyspareunia.   Tethys Petroleum (OTCMKTS:TETHF) advanced 26% to $0.075 after the oil and gas exploration company confirmed that a binding agreement had now been signed for its proposed recapitalisation.   VolitionRx  (NYSE:VNRX) rose 2.5% to $4.15 after the clinical-stage life sciences company reported over 90% accuracy for its new cancer blood test in a study into colorectal cancer in Belgium.   FALLERS   Amarantus BioScience (OTCMKTS:AMBS) tumbled 35% to $0.90 reversing a brief gain at the market open even as the biotechnology company revealed positive data for Eltoprazine in a mid-statge clinical trial of elderly patients with Alzheimer's dementia who are aggressive.   Axxess Pharma (OTCMKTS:AXXE) fell 5.3% to $0.00180 reversing an earlier gain. SDC Nutrition has immediately begun manufacturing all of the specialty pharmaceutical's Tapout protein powders.   Tonix Pharmaceuticals (NASDAQ:TNXP) spiked 0.4% to $6.98 after the clinical-stage pharmaceutical company completed patient enrollment in in its mid-stage clinical study of TNX-201 in episodic tension-type headache.


Tuesday's trending - oil price motorists Anglo American and biotech

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