London close: Strong run continues
13th Sep 2010 16:42
Shares continued rising Monday as they reacted positively to new banking regulations and Chinese economic data. London is up for the fourth session in a row and trading higher for the eleventh day out of twelve, up at a new four-month high. Stocks haven't been this high since 30 April. Banks were
Read moreLondon afternoon: Buyers buzzing
13th Sep 2010 15:27
The leading index is near its best levels of the day following a strong start on Wall Street, fuelled by new Basel III bank rules and impressive Chinese factory output. London is up for the fourth session in a row and trading higher for the eleventh day out of twelve, up at a new four-month high. S
Read moreBP spill cost seen below $20bn
13th Sep 2010 13:35
BP believes the true cost of the Gulf of Mexico disaster could be less than the $20bn (£13bn) it has parked in an escrow account to cover claims from victims of the oil spill. Analysts at Citigroup, who met with Bob Dudley, due to take over from Tony Hayward as chief executive on October 1, report
Read moreThursday newspaper round-up: Barclays, Vodafone, BP
9th Sep 2010 06:29
John Varley, Barclays' outgoing chief executive, has shot to the top of the City's wishlist for some of the biggest jobs in corporate Britain just a day after announcing that he will hand over to his deputy Bob Diamond in March. Prudential is seen as the most likely option for Mr Varley but Vodafone
Read moreLondon close: US spurs Footsie recovery
8th Sep 2010 16:36
Footsie put its weak start behind it to close with good gains, helped by buoyant trading on Wall Street. US shares recovered from losses yesterday that snapped a recent winning streak. Among the risers here was ARM Holdings. UBS has issued a downbeat assessment of the European semiconductor mark
Read moreLondon afternoon: ARM in line for Samsung boost
8th Sep 2010 14:28
Footsie emerged from the lunch-time session nursing a small gain, with the majority of the blue-chip index's constituents in positive territory. Chief among them was chip designer ARM Holdings. UBS has issued a downbeat assessment of the European semiconductor market but it has made an exception o
Read moreBP blames others for oil spill, Transocean hits back
8th Sep 2010 12:12
BP said responsibility for the explosion an oil well that led to the deaths of 11 people and a massive oil spill in the Gulf of Mexico is shared by several companies, provoking an angry response from one of the firms it blames. The oil spill was due to decisions by 'multiple companies and work team
Read moreLondon midday: BP spreads the blame
8th Sep 2010 12:00
It's back to square one for London with the Footsie virtually unchanged at the end of the morning session after early losses were wiped out. News that the US markets look set to open firmer after yesterday's triple-digit fall for the Dow has bolstered confidence this side of the pond. BP edged high
Read moreBP to accept some blame for oil spill
8th Sep 2010 09:18
BP is expected to accept some of the blame for the Gulf of Mexico oil spill but say that it was not guilty of any gross negligence that could lead to a criminal enquiry in a report on the disaster due later today. The oil giant is expected to shift some of the blame to oil services group Halliburto
Read moreWednesday newspaper round-up: Barclays, HSBC, BP...
8th Sep 2010 06:34
The appointment of Bob Diamond as chief executive of one of Britain's biggest banks has split the coalition along party lines, it emerged last night. Downing Street and the Treasury ? both of which were told of the appointment before it was announced ? insisted that they were relaxed about the prom
Read moreWednesday preview: BP, Barratt Developments, Thorntons
7th Sep 2010 15:40
Investors will be distracted from digesting a busy schedule of results on Wednesday by the midday release of oil giant BP's internal investigation into the causes of the Deepwater Horizon accident. The report will be available on the company's web site, www.bp.com . House builder Barratt Developme
Read moreLondon afternoon: Bid talk enlivens subdued session
6th Sep 2010 14:07
Leading shares remain moderately firmer on balance, but with the US markets closed and with a paucity of corporate news in the UK to get the juices flowing, trading is subdued. Telecoms group Cable & Wireless Worldwide is the best performer on a weekend report Singapore Telecom is eyeing up the tel
Read moreSector movers: BP and Chariot lift gush higher
6th Sep 2010 13:42
The oil & gas sector is going well, with BP among the risers after yesterday announcing it has recovered the blow-out preventer from the floor of the Gulf of Mexico. Also higher is oil and gas explorer Chariot, which has wheeled out an increase to its resource estimate for its Namibian assets. The
Read moreLondon midday: Languid London ambles higher
6th Sep 2010 12:15
Footsie finished the morning in positive territory, raising hopes that the blue-chip index can add to its run of five days of rises in succession. It was a quiet morning, however, possibly reflecting the fact that US markets will be closed for the Labour Day holiday today. Telecoms group Cable & W
Read moreBP mulls more ambitious asset sales target
6th Sep 2010 12:07
BP has increased the amount it is looking to rake in from asset sales to $40bn, or £26bn, as rumours do the rounds it will offload its stake in the Prudhoe Bay field. The company, which needs the cash to pay for the Gulf of Mexico oil slick, wants $20bn (£13bn) for its 26% interest in the lucrative
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