Credit Suisse upgrades BP to 'outperform' on valuation
1st Dec 2016 08:44
(ShareCast News) - Credit Suisse upgraded BP to 'outperform' from 'neutral' on valuation grounds and lifted the price target to 500p from 480p as it took a look at European integrated oil companies. The bank said the progress made on capital productivity and efficiency, as presented at the recent fi
Read moreFTSE 100 movers: Miners fly south, housebuilders warmed by BoE data
29th Nov 2016 15:05
(ShareCast News) - As London woke to the first winter's frost, a flock of commodities heavyweights flapped south to send the FTSE 100 into negative territory on Tuesday. A fall in metals prices, led by copper, saw investors migrate out of Antofagasta, Fresnillo, BHP Billiton, Rio Tinto, Anglo Americ
Read moreLondon close: Miners propel FTSE 100 higher as industrial metals surge
22nd Nov 2016 16:34
(ShareCast News) - London equities ended Tuesday on a sharply higher note with major miners storming ahead in tandem with soaring industrial metals prices, and followed by a string of banks and insurers. US interest rate-touch utilities were firmly higher, too. FTSE 100 closed the session up 0.62%
Read moreBP to put Deloitte forward as auditor
15th Nov 2016 09:34
(ShareCast News) - Oil giant BP intends to put Deloitte forward as its auditor at its annual general meeting in 2018 following a competitive audit tender. The company's current external auditor, EY, will continue in its role and will undertake the audit of BP for the financial years 2016 and, subjec
Read moreFriday broker round-up
4th Nov 2016 11:02
(ShareCast News) - Coca Cola HBC: Barclays keeps at underweight with a target price of 1630p. Smith & Nephew: Jefferies stays at buy, 1395p target. Merlin Entertainments: Berenberg starts coverage with a 440p target. South 32: Barclays reiterates overweight with a 200p target. Ladbrokes: UBS keep
Read moreThursday broker round-up
3rd Nov 2016 11:39
(ShareCast News) - IAG: Deutsche Bank keeps at buy with a target price of 540p. Just Eat: Goldman Sachs stays at buy, 760p target. Next: Credit Suisse downgrades to underperform with a 4600p target. G4S: Deutsche Bank upgrades to hold with a 220 with a 3035p target. Cineworld: HBSC starts coverag
Read moreWednesday broker round-up
2nd Nov 2016 11:59
(ShareCast News) - Lancashire: JP Morgan keeps at neutral with a target price of 595p. Rolls Royce: UBS stays at neutral, 800p target. Rio Tinto: Barclays reiterates overweight with a 3200p target. Derwent London: Goldnman Sachs reiterates buy with a 3035p target. TUI AG: UBS reiterates buy with
Read moreBP and Rosneft form Siberian joint venture
1st Nov 2016 10:04
(ShareCast News) - BP and Russian resources behemoth Rosneft have created a new joint venture called Yermak Neftegaz to explore for oil and gas in seven license blocks in Siberia and nearby. As part of its 49% ownership of the JV, BP will contribute $300m in two phases into the onshore exploratio
Read moreBP third quarter profits cut in half but beat forecasts
1st Nov 2016 07:27
(ShareCast News) - Underlying third-quarter profits halved at BP compared to last year but the fall was not as bad as feared as the oil colossus continues to chip away at costs. Although down 49% on last year due to lower oil prices, currency effects and one-off events hitting production levels, und
Read moreLondon close: Crude prices, policy meetings and Carney weigh on FTSE
31st Oct 2016 15:49
(ShareCast News) - London equities closed down on Monday amid sharply lower crude prices and as the market looks to policy calls from Bank of England and the US Federal Reserve later in the week. BoE issues its policy decision on Thursday, with rates seen unchanged, and its quarterly inflation repor
Read moreTuesday preview: BP and Shell report quarterly results
31st Oct 2016 12:53
(ShareCast News) - BP is on Tuesday expected to reveal its profits more than halved in the three months to September as low oil prices continue to weigh. The oil producer is forecast to post quarterly underlying profits of $780m, down from $1.8bn in the same period a year earlier, as oil prices aver
Read moreSaudi's Al-Falih says many nations willing to join OPEC in crude output cuts
19th Oct 2016 10:48
(ShareCast News) - Saudi Arabia's Energy and Industry Minister, Khalid Al-Falih, said many nations are willing to to join OPEC in cutting crude output to achieve an ongoing improvement in prices, according to reports. Speaking at the Oil and Money conference in London on Wednesday, Al-Falih said tal
Read moreBP eyes break-even at oil prices slightly below $55/bbl - report
18th Oct 2016 12:18
(ShareCast News) - BP anticipates crude oil will trade in the range $50-$60 a barrel next year, said the company's chief executive, Bob Dudley. Dudley told the Oil & Money annual conference in London that BP would break-even at prices slightly below $55 a barrel, news agency Reuters reported. At ab
Read moreRise of electric batteries casts shadow over oil companies, Fitch warns
18th Oct 2016 11:06
(ShareCast News) - Rapid improvements in battery technology are making electric vehicles (EVs) increasingly popular and casting a significant shadow over prospects for future oil demand, a major credit agency has warned. Fitch Ratings warned that a further leap forward in battery technology would ma
Read moreTuesday broker round-up
11th Oct 2016 14:54
(ShareCast News) - Easyjet: Deutsche Bank keeps at hold with a target price of 1000p. BP: HSBC reiterates buy, 570p target. Petrofac: Credit Suisse keeps at outperform with a 1100p target. British American Tobacco: Jefferies reiterates buy with a 6000p target. Royal Dutch Shell: HSBC keeps at bu
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