Commodities

BP's troubled deal with state-controlled Russian oil company Rosneft has fallen through.

George Soros, who called gold "the ultimate bubble", dumped almost his entire $800m stake in bullion in the first quarter.

The bull run in commodities is set to continue, despite the recent sell-offs and mounting fears some assets in the sector are overheating, according to asset allocators.

TIME TO CUT COMMODITIES?

Crispin Odey, the founder of Odey Asset Management, is buying UK banks in the view increased capital requirements will boost profit margins.

Clive Capital, the world's largest commodity hedge fund, lost $400m following a collapse in the oil price last week, the FT reports.

Schroders has renamed its gold and metals fund and changed the investment objective to allow it to invest in a different set of underlying commodities, including gold equities for the first time.

The price of gold soared yesterday to hit a new record before falling back following the death of the world's most wanted man, Osama Bin Laden.

Legal and General multi-manager Alan Thein has boosted his gold exposure in anticipation of a 30% re-rating in the commodity.

The final cost to BP from the Gulf of Mexico oil spill disaster could reach $60bn (£37bn), according to fresh analysis from ratings agency Moody's.