Stocks in Focus – Royal Dutch Shell plc (ADR) (NYSE:RDS.A) Hartford Financial Services Group Inc (NYSE:HIG)
Trading the news is a technique to trade equities, currencies and other financial instruments on the financial markets. Trading news releases can be a noteworthy tool for financial shareholders. Economic news reports often drive strong short-term moves in the markets, which may create trading opportunities for traders. Declarations about corporate profits, a change in administration, rumors of a merger, are events that can cause a company’s share price to move wildly up or down. Interest rates, unemployment and export rates, or the central bank’s policy shifts, can cause a deep change of an exchange rate.
Royal Dutch Shell says a refinery in Rotterdam that it mostly shut down over the weekend following a fire at an electricity station will remain closed until at least mid-August.
The energy multinational said in a statement Tuesday that it anticipates restarting operations at the Pernis refinery “at the earliest in the second half of August.”
The Pernis refinery in Rotterdam’s sprawling port is Europe’s leading. It has the capacity to refine just over 400,000 barrels of crude oil per day. The company has not released details of the financial impact of the closure.
In a statement, Shell says: “we are doing everything we can to minimize impact to our customers.” (Source: AP)
Shares of Royal Dutch Shell plc (ADR) (NYSE:RDS.A) gained 0.48% to $56.80 on Tuesday. The stock price floated in a range of $56.50 – 56.93. The stock moved on high volume, traded at a volume of 3,774,312 shares, as compared to its average daily volume of 3.22M shares. The market capitalization for the company is reported at $233.70B.
Hartford Financial Services Group Inc (NYSE:HIG) inclined 0.71 points or 1.29% at the market. The stock opened at $55.29. It reached an intraday trading high of $55.80 and closed at $55.71. The total volume traded for the day is 2,816,546, as compared to its average daily volume of 2.16M shares. Trading volume, or volume, is the number of shares or contracts that point towards the overall activity of a security or market for a given period. Trading volume is a key technical indicator an investor uses to identify momentum in a stock and confirm a trend or trend reversal. Volume gives an investor an idea of the price action of a security and whether he should buy or sell the security.
Trading volume can also signal when an investor should take profits and sell a security because of low activity. If there is no relationship between the trading volume and the price of a security, this signals weakness in the current trend and a possible reversal.
The current EPS for the company has been recorded at $1.80 and the beta value recorded by the company stands at 0.93 points.
