Gas Negara Official: Interested To Buy Stakes In Tangguh Block
17th Jun 2010 13:10
JAKARTA (Dow Jones)--Indonesian state-owned gas distributor and producer PT Perusahaan Gas Negara (PGAS.JK), or PGN, is interested in acquiring stakes in the Tangguh gas block operated by BP PLC's (BP) local unit, in order to secure more supply, PGN's Chief Executive said Thursday. Due to the oi
Read moreUS STOCKS VIEW: Earnings Warnings Threaten Summer
17th Jun 2010 13:03
By David Callaway A DOW JONES COLUMN Add earnings warnings and lower estimates to the widening mess of oil spillage, BP PLC's (BP. BP.LN) financial distress and Europe's debt crisis this summer. Concerns about the impact on corporate profits from things like the weak euro and suddenly ne
Read moreBEFORE THE BELL: US Stock Futures Up; Flurry Of Data On Tap
17th Jun 2010 12:57
By Steve Goldstein U.S. stock futures rose Thursday as a largely successful Spanish bond auction helped cap worries over the euro while a flurry of U.S. economic data was on tap. Futures on the Dow Jones Industrial Average rose 43 points to 10387. S&P 500 futures rose 4.9 points to 1114.50
Read more2nd UPDATE: BP Shares Surge After $20B Oil Spill Fund Deal
17th Jun 2010 12:45
(Adds analyst comment.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Shares in U.K.-listed oil giant BP PLC (BP) jumped as much as 9.8% in London Thursday after the company struck a deal with the Obama administration a day earlier to set aside $20 billion to cover Gulf of M
Read moreTAKING STOCK: Where Next For BP Dividend Refugees?
17th Jun 2010 12:44
By David Cottle A DOW JONES NEWSWIRES COLUMN It doesn't seem terribly long ago that markets were mulling the chances of troubled BP walking away from a dividend payment, as its slow crucifixion in the Gulf of Mexico ground ever onward. Well, now the White House has bitten down hard and t
Read moreMARKET TALK: Spill Agreements Risk BP's Longer Value -Barclays
17th Jun 2010 12:40
7:40 (Dow Jones) Following BP's meeting with the White House, Barclays Capital cuts BP to underweight from equal weight. "The commitments the company has made would appear not just to cut short-term shareholder returns but also to put at risk the group's ability to grow long-term shareholder value,"
Read moreBP's Oil Trading Hums Along Despite Deteriorating Credit Risk
17th Jun 2010 12:37
(This article was originally published Wednesday.) By Brian Baskin Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP, BP.LN) oil trading partners are sticking by the beleaguered company for now, even as concerns mount in other markets over escalating cleanup costs for the Gulf o
Read moreMARKET TALK: BofA Merrill Lynch Downgrades BP To Neutral
17th Jun 2010 12:30
1130 GMT [Dow Jones] Bank of America Merrill Lynch downgrades BP (BP.LN) to neutral from buy. Says the potential recovery is now set to take well beyond the brokerage's 12-month investment horizon and notes real risk there will be no resumption in the dividend in FY'10/1Q'11. Says the outcome of the
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
17th Jun 2010 12:30
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1130 GMT [Dow Jones] Bank of America Merrill Lynch downgrades BP (BP.LN) to neutral from buy. Says the potential recovery
Read moreBP CEO Hayward Faces Angry US Lawmakers Over Oil Spill
17th Jun 2010 12:11
WASHINGTON (AFP) -- BP's chief executive faces a flaying from furious U.S. lawmakers Thursday over the Gulf of Mexico oil spill, a day after the energy giant pledged at least $20 billion for compensation claims. Tony Hayward faces fuming U.S. lawmakers, some of whom have publicly suggested senio
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
17th Jun 2010 12:06
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1106 GMT [Dow Jones] BP's (BP.LN) liability fund represents a positive step towards increasing clarity says Credit Suisse. S
Read moreMARKET TALK: BP Liability Fund A Positive Step - Credit Suisse
17th Jun 2010 12:06
1106 GMT [Dow Jones] BP's (BP.LN) liability fund represents a positive step towards increasing clarity says Credit Suisse. Says it has adequate financing head room and the plan allows BP to fund all costs with internal resources without the need for external financing, other than regular working ca
Read moreLondon midday: Spanish bond sale boosts banks
17th Jun 2010 12:05
BP and the banks are leading the market higher, with the latter in demand after concerns over Spain's ability to raise money on the bond markets were eased by the latest Spanish bond auction, which saw a higher level of demand than the March offering. Royal Bank of Scotland, Lloyds Banking and Bar
Read moreSector movers: BP rally lifts oil stocks
17th Jun 2010 11:59
The oil and gas sector is one of today's best performers, helped by a rally in BP shares. The oil giant has cancelled dividends for the rest of the year and agreed to a demand from US president Obama to put $20bn in an escrow account to cover claims resulting from the oil spill in the Gulf of Mexic
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
17th Jun 2010 11:40
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1040 GMT [Dow Jones] BP's (BP.LN) establishment of a $20B escrow account for oil spill compensation claims is a positive s
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