BP shelves Great Australia Bight exploration, Dudley eyes $55-$70 oil
11th Oct 2016 07:42
(ShareCast News) - In the face of staunch environmental protests, BP has decided to shelve its exploration drilling programme in the Great Australian Bight in order to channel capital into more profitable opportunities. After reviewing its upstream options, BP, whose chief executive Bob Dudley
Read moreMonday broker round-up
10th Oct 2016 13:30
(ShareCast News) - Easyjet: Societe Generale downgrades to sell with a target price of 820p. BP: Barclays reiterates overweight, 600p target. Lloyds: Citigroup keeps at sell with a 48p target. Unilever: Jefferies reiterates hold with a 3530p target. Royal Dutch Shell: Barclays keeps at overweight
Read moreTuesday newspaper round-up: AstraZeneca, rental housing, BT, BP
4th Oct 2016 06:57
(ShareCast News) - AstraZeneca has won a major victory in the UK after the country's drugs watchdog approved one of the most important cancer drugs in its oncology portfolio. The National Institute for Health and Care Excellent (Nice) announced on Tuesday that osimertinib, known under the brand name
Read moreWednesday broker round-up
7th Sep 2016 10:31
(ShareCast News) - Centrica: Goldman Sachs downgrades to sell with a target price of 213p. Ashmore: Barclays maintains underweight with a 270p target. Aviva: UBS upgrades to buy with a 505p target. Polymetal: Berenberg reiterates buy with a 1200p target. SSE: Goldman Sachs keeps at neutral with a
Read moreCiti still sees value in Big Oil
6th Sep 2016 12:41
(ShareCast News) - Big Oil still offered value for investors, analysts at Citi said. Their value screens pointed to 25% absolute upside and potentially more in relative terms as investors hunted for yield. In their opinion, most companies in the space were capable of achieving notional break-even -
Read moreSector movers: Big Oil, Industrial Metals pace gains on heels of G-20
5th Sep 2016 15:21
(ShareCast News) - Big Oil again lent its heft to the market´s advance after Russia and Saudi Arabia unveiled an agreement to collaborate in the energy space. In a statement issued at the Group of 20 meeting in Hangzhou,China the oil producers said they would set up a working group to monitor the ma
Read moreSector movers: Interest rate-sensitive issues pace gains
2nd Sep 2016 16:11
(ShareCast News) - The safest and highest dividend-paying stocks paced gains on the market at the end of the week, as a weaker-than-expected US jobs report for August reaffirmed some economists´ view that the US central bank was unlikely to hike interest rates come September. Thus, it was the likes
Read moreSector movers: Vodafone weighs on mobile telecoms
1st Sep 2016 21:10
(ShareCast News) - News that CK Hutchison Holdings and VimpelCom had won European Union approval to merge, in the process creating Italy´s biggest wireless telecommunications provider, sent stock in Vodafone sharply lower and its sector gauge with it. Vodafone´s own unit in that Mediterranean countr
Read moreBP signs second Chinese shale gas contract with CNPC
1st Sep 2016 09:39
(ShareCast News) - BP has signed a second production sharing contract (PSC) for shale gas exploration, development and production with China National Petroleum Corporation (CNPC). The contract, which was signed on 27 July, covers approximately 1,000 square kilometres at Rong Chang Bei in the Sichuan
Read moreSector movers: Mining, Big Oil race to the top
26th Aug 2016 17:53
(ShareCast News) - Mining raced to the top of the leaderboard on Friday, boosted by an initial burst of volatility in global capital markets after Yellen's speech that saw the US dollar dip and commodity prices gain. Nevertheless, just after the closing bell in London rang US short-term rates change
Read moreLondon close: Stocks taper as sterling, commodity prices lose traction
19th Aug 2016 16:08
(ShareCast News) - UK stocks whimpered to a lower close on Friday as sterling lost traction on renewed Brexit fears and commodity prices headed south. The spectre of the Lisbon Treaty's Article 50 rose once more, following a media report that claimed UK Prime Minister Theresa May was sympathetic to
Read moreBP to avoid repeat CEO pay policy row
19th Aug 2016 09:33
(ShareCast News) - Oil giant BP is courting new investors to avoid a repeat of the pay row for its chief executive. In April, the board voted against a £14m pay package for its chief executive Bob Dudley and Sky News reported on 18 August the company had met with potential investors recently to d
Read moreLawyer acquitted over alleged made up charges about BP oil spill
19th Aug 2016 08:38
(ShareCast News) - A lawyer has been acquitted on charges he made up thousands of false clients to sue oil giant BP for damages caused by the April 2010 Gulf of Mexico oil spill. Under a 2012 settlement BP agreed to compensate businesses and individuals affected by the disaster. Mikal Watts had alle
Read moreIraq agrees deals with BP and Shell to restart shelved projects, report says
11th Aug 2016 10:00
(ShareCast News) - Iraq and a group of major oil companies including BP and Royal Dutch Shell have agreed to resume production of several development projects in the country that had been mothballed due to low oil prices, reports revealed on Thursday. Iraq oil officials have come to agreements with
Read moreBP profits plunge in second quarter
26th Jul 2016 07:07
(ShareCast News) - BP underlying profits almost halved in the second quarter but the oil giant reduced the level of statutory losses for the first six months of the year and said it was drawing a line under the liabilities for the Deepwater Horizon oil disaster at $61.6bn. Maintaining its September
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