London midday: FTSE 100 gives up gains
20th May 2011 12:07
The FTSE 100 has run out of puff and is now flat despite good gains for BP. BP - more specifically last year's disastrous oil spill - is in focus again, but the oil giant's shares are higher after it said MOEX, part of the Japanese trading house Mitsui and the 10% owner of the Macondo oil well that
Read moreLondon open: FTSE 100 in another assault on 6,000
20th May 2011 08:30
Stocks have opened higher on a quiet day on the company news front, consolidating recent gains and moving closer to the psychologically important 6,000 point mark. BP - more specifically last year's disastrous oil spill - is in focus again, but the oil giant's shares are higher after it said MOEX,
Read moreMitsui to pay $1bn to BP Macondo fund
20th May 2011 08:12
MOEX Offshore 2007, which holds a 10% interest in the Macondo oil well at the centre of last year's Gulf of Mexico oil spill disaster, has made peace with BP over the Deepwater Horizon oil rig accident. MOEX and its affiliates, Mitsui Oil Exploration and MOEX USA, have joined BP in accepting the fi
Read moreWednesday newspaper round-up: BP, Tesco, Tchenguiz
18th May 2011 06:01
Investors have rounded on the BP chief executive Bob Dudley, architect of the "shambolic" Rosneft deal that finally collapsed yesterday, demanding that he carry out a fundamental strategic rethink. BP insisted yesterday that a deal with the Russian state-controlled company could still be revived and
Read moreFTSE 100 movers: Essar tops the risers after 'solid' quarter
17th May 2011 15:35
India-focused energy firm Essar Energy is the best performer after it reported a "solid operating performance" in the first quarter with total generation 10% higher than the same period the year before. Mobile telecommunications giant Vodafone is one of the high risers after strong growth in emerg
Read moreBP-Rosneft deal off, but talks continue
17th May 2011 08:16
BP has confirmed reports that Russian state-controlled oil company Rosneft has opted not to extend the deadline for a share swap transaction but the oil giant said it remains committed to Russia. The swap was part of an agreement that would have given BP an interest in offshore Arctic exploration a
Read moreTuesday newspaper round-up: Banks, IMF, BP
17th May 2011 06:24
The City will miss out on £1bn of fees if the Government goes ahead with an unusual method of bank privatisation recommended yesterday by Lord Saatchi and other influential Conservatives. The Centre for Policy Studies think-tank, chaired by the Tory peer, has urged the coalition to shun a normal sal
Read moreLondon close: FTSE 100 back below 6,000
11th May 2011 16:51
After a calm start following good gains yesterday, shares took a sharp dive into the red as economic worries resurfaced. Despite a strong first start to the year, terrestrial broadcaster ITV, one of today's strugglers, has warned that it is facing tougher comparatives in the current quarter, meanin
Read moreSector movers: Andes Energia, Drax boost electricity stocks
11th May 2011 15:43
Argentinian energy firm Andes Energia is providing a spark in the electricity sector after profits leapt 450% in 2010, due primarily to the performance of its stake in an electricity distributor. The group recorded a profit before tax of $22m on revenue of $171m for the year. This compared to a pr
Read moreFTSE 100 movers: ITV leads the fallers
11th May 2011 14:44
Terrestrial broadcaster ITV is the worst performing stock after warning that it is facing tougher comparatives in the current quarter, meaning that the firm could underperform the market in the first half. Banking giant HSBC is lower after announcing that it is to cut costs and may abandon some bu
Read moreLondon midday: FTSE 100 pauses after rally
11th May 2011 12:13
Shares are seeking direction following yesterday's big gains, with stocks moving in both directions on the back of updates. Despite a strong first start to the year, terrestrial broadcaster ITV has warned that it is facing tougher comparatives in the current quarter, meaning that the firm could und
Read moreLondon open: ITV takes a tumble
11th May 2011 08:29
The Footsie has opened up lower, with ITV providing a drag, taking a tumble in early trading. Despite a strong first start to the year, terrestrial broadcaster ITV has warned that it is facing tougher comparatives in the current quarter, meaning that the firm could underperform the market in the fi
Read moreLondon pre-open: BP gets green light from Brazil
11th May 2011 07:32
City sources predict the FTSE 100 will open 14 points up from yesterday's close of 5,6019, as London looks set to follow in Wall Street's foot steps. Banking giant HSBC has unveiled some details of its new strategic plan in which it will direct investment to fast growing markets while cutting back
Read moreBP gets the all clear in Brazil
11th May 2011 07:15
It has been a year in waiting, but oil titan BP has finally received approval by regulators to complete the purchase of ten Brazilian exploration and production blocks from Devon Energy. The Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) has been deliberating the $7.2bn deal si
Read moreFTSE 100 movers: Antofagasta tumbles after disappointing production figures
4th May 2011 13:51
Miner Antofagasta is leading the decline on Wednesday after reporting production figures that missed expectations. Group copper production for the first three months of the year came in at 129,800 tonnes, below forecasts of 158,800 tonnes, reflecting delays and lower-than-budgeted grades at two of i
Read more