Broker tips: StanChart, BP, Tullow Oil
10th Sep 2015 16:24
(ShareCast News) - The largest UK banks face several further operational headwinds which the market may not be fully factoring in yet, analysts believe. Foremost among those is the 2018 implementation of the IFRS9 accounting standard regarding provisions, which will be half again as high as IAS39. T
Read moreBernstein upgrades BP; highlights ability to weather oil price storm
10th Sep 2015 10:44
(ShareCast News) - Bernstein upgraded oil giant BP to 'outperform' from 'market perform' and kept the price target unchanged at 450p. It said that given recent relative share price performance, it sees attractive upside of more than 30%. It noted that BP has underperformed the European oil and gas
Read moreUBS upgrades BP and downgrades Premier Oil
8th Sep 2015 16:14
(ShareCast News) - After cutting its oil price forecasts for 2015 to 2019, UBS has upgraded the "harshly sold off" BP but downgraded Premier Oil. The Swiss bank said that the European E&P sector has been hit hard by the oil price and many of its projects were among some of the industry's more econom
Read moreNorth Sea oil industry has lost 5,500 since late 2014, OGA says
7th Sep 2015 09:43
(ShareCast News) - Britain's new Oil and Gas Authority (OGA) said the country's North Sea oil and gas sector has lost over 5,000 jobs since late 2014. A slump in oil prices, which has seen the price of Brent crude fall 55% since June 2014, has hit operations in the industry hard, leading to the loss
Read moreBroker tips: Hikma Pharmaceuticals, BP, GKN
4th Sep 2015 14:00
(ShareCast News) - Goldman Sachs upgraded Hikma Pharmaceuticals to 'buy' from 'neutral', added the stock to its regional stock 'focus list' and lifted its price target to 2,840p from 2,210p. "We see the acquisition of Roxane Labs as the realisation of large transformational M&A that we had expected
Read moreFTSE 100 movers: Hikma nudges up on Goldman upgrade, miners slide
4th Sep 2015 12:06
(ShareCast News) - London's top-flight index was down 2.2% to 6,059.90 at 1515 BST, extending earlier losses following a weaker-than-expected US nonfarm payrolls report. Hikma Pharmaceuticals nudged a little higher after Goldman Sachs upgraded the stock to 'buy' from 'neutral' and lifted its price t
Read moreMerrill downgrades BP, cites mounting M&A and dividend risks
4th Sep 2015 09:48
(ShareCast News) - Bank of America Merrill Lynch downgraded oil giant BP to 'underperform' from 'neutral' and slashed its price target to 330p from 420p. The bank said incorporating its reduced macro forecasts - which suggest Brent oil prices will not recover far above $60 a barrel until 2018 - into
Read moreFTSE 100 movers: Ashtead jumps on strong interims; Glencore, BP in the red
2nd Sep 2015 13:16
(ShareCast News) - London's FTSE 100 was up 1% to 6,116 at 1423 BST in a choppy session as stocks rebounded from weakness on Tuesday. Industrial equipment rental firm Ashtead was the standout gainer after it posted better-than-expected first quarter pre-tax profits of £155m, up 23%, driven by solid
Read moreLondon midday: Oil and commodity producers push UK stocks lower
17th Aug 2015 11:27
(ShareCast News) - UK stocks dropped as a measure of oil and commodity producers declined. BP and Royal Dutch Shell were in the red as oil prices fell towards six-year lows on Monday after data showed Japan's economy contracted and US producers added drilling rigs despite a recent slump in the indus
Read moreLondon close: FTSE 100 ends lower after busy day of economic news
14th Aug 2015 16:14
(ShareCast News) - The FTSE 100 ended the week in negative territory as investors sifted through a batch of economic data and weighed developments in China and Greece. Early in Friday's session, a report showed UK construction output rose 2.6% year-on-year in June, missing analysts' estimates for a
Read moreLondon midday: UK stocks up after PBoC raises reference rate, Greece approves bailout
14th Aug 2015 11:48
(ShareCast News) - UK stocks edged higher as China's central bank increased the reference rate and Greece approved a draft bailout package. The People's Bank of China raised the value of the yuan against the dollar by 0.05% after three days of devaluations. The move came as the Bank tried to soothe
Read moreUS judge says BP traders manipulated natural gas market
14th Aug 2015 09:23
(ShareCast News) - BP could face a $48m fine after a US regulatory judge ruled that the oil giant's energy traders rigged the natural gas markets in Texas following hurricane Ike in 2008. Carmen A. Cintron, an administrative law judge for the US Federal Energy Regulatory Commission, found BP had flo
Read moreLondon open: Stocks gain as PBoC increases reference rate
14th Aug 2015 08:33
(ShareCast News) - London stocks gained on Friday morning as China's central bank increased the reference rate for the first time since implementing a new fixing policy. The People's Bank of China raised the value of the yuan against the dollar by 0.05% after three days in a series of devaluations.
Read moreFTSE 100 movers: Slide continues on yuan devaluation
12th Aug 2015 16:36
(ShareCast News) - London's FTSE 100 was down by 1.84% to 6,541.50 at 1620 BST as the devaluation of the yuan continued to drag on stocks. There were only a handful of gainers on the FTSE 100 on Wednesday as oil stocks were flat rather than falling. Spreadex's analyst Connor Campbell said while com
Read moreFTSE 100 movers: Old Mutual, housebuilders rally, but miners under the cosh
6th Aug 2015 14:47
(ShareCast News) - London's FTSE 100 index was down 0.2% at 6,740 at 15:00 BST as investors took in 'Super Thursday', which saw the Bank of England deliver its interest-rate decision, minutes and Inflation Report all on the same day. Diversified South African financial group Old Mutual was the stand
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