Week Ahead: BP, Shell, US non-farm payrolls
28th Jan 2011 13:32
There are some big guns releasing results next week, including oil giants BP and Royal Dutch Shell, pharmaceuticals titan GlaxoSmithKline and household goods and foods leviathan Unilever . It's also a big week for economic announcements, with the European Central Bank (ECB) set to announce its inte
Read moreLondon close: Footsie fades late
27th Jan 2011 16:32
Footsie closed lower after an afternoon rally, following a downgrade of Japan's credit weighting by ratings agency Standard & Poors, fizzled out. Life insurers moved to the top of the pile led by Old Mutual, Prudential and Aviva. Mining stocks did well after the US Federal Reserve indicated yesterd
Read moreLondon afternoon: Stocks edge higher
27th Jan 2011 14:23
Footsie remains marginally in positive territory after trading sideways over the lunchtime session, with the downgrade of Japan's credit weighting by ratings agency Standard & Poors continuing to weigh on sentiment. Mining stocks are going well, however, after the US Federal Reserve indicated yeste
Read moreRussian oligarchs take BP to court in Rosneft row
27th Jan 2011 13:11
BP's billionaire partners at Russian joint venture TNK-BP have filed an injunction to try and stop the British company's £10bn arctic exploration tie-up with Kremlin-backed Rosneft. The oligarchs are livid at being left out of the Rosneft share-swap that will open up potentially massive oil deposit
Read moreThursday newspaper round-up: BP, Soros, banks
27th Jan 2011 06:04
BP and Rosneft have pledged to expand their Arctic development deal after asserting the agreement does not violate the terms of BP's prior tie up with Russian oligarchs. Signing a "strategic framework agreement" on the sidelines of the World Economic Forum in Davos, Switzerland, BP and state-owned
Read moreBP tackles opposition to Rosneft deal
20th Jan 2011 12:49
BP's controversial tie-up with Rosneft hasn't gone down well with the oligarchs at Russian partner TNK who are furious at being left out of the Arctic exploration deal. The British oil major will soon count the Kremlin as its largest shareholders following the £10bn agreement with state-owned Rosne
Read moreThursday newspaper round-up: BP, oil price, HMV
20th Jan 2011 06:15
Some of Russia's richest oligarchs have warned of possible legal action against BP over its £10 billion share swap with Rosneft. Stan Polovets, chief executive of the Alfa-Access-Renova consortium that is BP's 50-50 joint venture partner in TNK-BP, told The Times that his company had asked BP to han
Read moreTuesday tips round-up: Smiths, Alterian, BP...
18th Jan 2011 06:40
Philip Bowman's decision to turn down a £2.4 bn cash offer for the medical division of Smiths Group, where he is chief executive, is understandable for any number of reasons. The sale of medical services, which enjoys margins in excess of 20% and provides Smiths with about a third of its earnings,
Read moreTuesday newspaper round-up: BRICs, Inflation, GlaxoSmithKline...
18th Jan 2011 06:33
Goldman Sachs has issued a short-term alert on China and India as inflation rears its ugly head, advising clients to rotate into Wall Street and Old World bourses as a safer bet over coming months. "We're not as tactically positive on the BRICs as we have been," said Tim Moe, the bank's chief Asia-
Read moreLondon close: Shares close lower despite M&A buzz
17th Jan 2011 16:39
London's leading share index is back below the 6,000 point mark after a sluggish day which saw downbeat miners offsetting mergers and acquisitions excitement. Miners such as Kazakhmys and Fresnillo were out of favour amid lower metals prices after China increased reserve requirements for banks in a
Read moreLondon afternoon: Footsie dips
17th Jan 2011 14:40
Leading shares lost ground over the lunchtime session, taking the Footsie back below the 6,000 level, with financials and miners featuring prominently among the losers. Miners such as Kazakhmys and Fresnillo are out of favour amid lower metals prices after China increased reserve requirements for b
Read moreFTSE 100 movers: Smiths rejects medical bid
17th Jan 2011 13:21
Smiths Group is the best performer today following the revelation that it turned down a £2.45bn bid for its medical division from private equity firm Apax. Credit Suisse had previously estimated the medical division was worth £2.1bn. Even so, Smiths did not want to pursue talks at the indicative b
Read moreBP sets sights on Russia's Arctic wastes
17th Jan 2011 12:28
Oil giant BP, still recovering from last year's disastrous spill in the Gulf of Mexico, now has its sights set on the vast untapped oil wealth thought to exist beneath the Arctic ice. Its strategic global alliance with Russia's Rosneft gives it access to three licence blocks on the Russian Arctic c
Read moreLondon midday: Shares still seeking direction
17th Jan 2011 12:11
The top share index remains little changed despite the M&A excitement. US markets are closed today, so shares will have to look elsewhere for inspiration if they are to burst into life. BP is in demand after the oil giant announced a controversial landmark deal with Rosneft, the Russian state oil c
Read moreLondon open: Deals keep blue chips ahead
17th Jan 2011 08:37
London has opened moderately firmer, with potential M&A deals outweighing a weak start for the miners. BP has opened higher after the oil giant announced a controversial landmark deal with Rosneft, the Russian state oil company. As well as confirming the tie-up with Rosneft, BP said it has been aw
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