London pre-open: BP divi hopes to lift Footsie
1st Oct 2010 07:37
London looks set to start the final quarter of 2010 in positive mood with sentiment lifted by hints from the incoming boss of oil giant BP that the company is ready to restore dividend payments that were suspended during the Gulf of Mexico crisis. Bob Dudley, who becomes chief executive of the oil
Read moreFriday newspaper round-up: BP, Ireland, record rally
1st Oct 2010 06:06
BP has given its strongest hint yet that it intends to reinstate the dividend that was halted to save cash after the Deepwater Horizon disaster. Bob Dudley, who becomes chief executive of the oil company today, said that the board would meet soon to discuss restoring payouts next year. The resumpt
Read moreLondon close: Footsie slumps in last hour
30th Sep 2010 16:48
A last hour slump sent Footsie into the red by the close of a roller-coaster day. The index had been over 50 points higher in mid-afternoon after US second quarter gross domestic product (GDP) was revised upwards to show a 1.7% quarterly increase. But the Dow turned down sharply soon after, draggin
Read moreSector movers: Oil stocks rise as crude advances
30th Sep 2010 14:53
The oil sector is going well as crude prices advance. Big companies such as BP and Shell are wanted, while among smaller companies Shares in Bahamas Petroleum advanced after the oil group focused on the waters around the Caribbean country said it was continuing to make advances in its portfolio wh
Read moreLondon close: Lower finish after sluggish day
29th Sep 2010 16:39
Footsie closed a few points lower at the end of a dull day's trading that was overshadowed by continuing eurozone debt worries. Ireland was the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks Royal B
Read moreLondon afternoon: Dull mood continues
29th Sep 2010 14:15
Leading shares remain mixed but with a lower bias as investors continue to fret over European debt issues. Debt-stricken Ireland is the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks Royal Bank of
Read moreLondon midday: Footsie hit by debt worries
29th Sep 2010 12:19
Footsie is now in the red after a bright start, with European debt issues again clouding the mood. Debt-stricken Ireland is the focus of attention again. The rating agency Standard & Poors says the price of bailing out nationalised bank Anglo Irish could exceed $47bn. Banks RBS, Lloyds and Barclays
Read moreBP new broom airs plan to 'rebuild trust'
29th Sep 2010 11:18
BP's incoming boss Bob Dudley today spelt out plans to overhaul the oil giant's global operations with an emphasis on safety ahead of his crowning ceremony on Friday. The 54-year-old American replaces Tony Hayward on 1 October following the gaff-prone Brit's unconvincing performance during the summ
Read moreWednesday newspaper round-up: BP, Anglo Irish, Ryanair...
29th Sep 2010 06:38
BP is preparing a top-level reshuffle of its management ahead of Robert Dudley taking charge of the oil company this week. Mr Dudley, who will take over as chief executive of BP from Tony Hayward on Friday, is planning to remove several senior executives in company's exploration and production (E&P
Read moreTuesday newspaper round-up: IMF, BP, Rolls-Royce...
28th Sep 2010 06:40
The International Monetary Fund backed the British Government's austerity plans yesterday and declared the economy to be "on the mend". In its first official verdict on the coalition's policies, the Washington-based IMF praised George Osborne's debt-cutting programme as "strong and credible" and s
Read moreMonday newspaper round-up: Housing, Sainsbury's, HSBC...
27th Sep 2010 06:41
The number of home buyers fell at the sharpest rate in more than 18 months in September, dragging house prices down further, a report published today from property website Hometrack shows. Estate agents reported that demand from new buyers dropped by 2.9%, the biggest monthly decline since January
Read moreFriday newspaper round-up: HSBC chief to stand down
24th Sep 2010 06:24
Michael Geoghegan is to step down as chief executive of HSBC at the end of the year, according to two people close to the bank's board. He will be replaced by Stuart Gulliver, head of the group's investment bank, the FT reports. At the same time, Douglas Flint will take over as chairman from Stephe
Read moreLondon close: Late rally trims losses
23rd Sep 2010 16:40
London staged a last hour rally but didn't rise by enough to eliminate losses sparked by a weak start on Wall Street. News that Brazilian oil company Petrobas will launch a world record $78bn rights issue helped other oil companies. BP, Shell and Cairn all picked up near the close. Expectation t
Read moreTuesday tips round-up: Brit Insurance, BP, Hochschild Mining...
21st Sep 2010 06:39
Private equity looked to be closing in on Brit Insurance, the sponsor of the England cricket team, on Friday after US firm Apollo was joined by peer CVC Capital Partners in making an improved bid of up to £870m for the insurance group. The Lloyds of London insurer said it expected to recommend the
Read moreLondon close: Second wind lifts Footsie higher
20th Sep 2010 16:40
A strong start on Wall Street ensured Footsie finished with good gains having started the day on a strong footing. US shares moved ahead including housebuilder and economic bellwether Lennar, which beat profit forecasts. Part-nationalised banking giant Lloyds Banking held up well after it was ann
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