US Supreme Court rejects BP and Anadarko oil spill appeal
29th Jun 2015 14:59
The US Supreme Court has rejected appeals from Anadarko Petroleum Corp and BP over fines related to the 2010 Gulf of Mexico oil spill. The high court let stand a lower court ruling from June 2014 that the owners of the Macondo well were liable for civil penalties under the federal Clean Water Act.
Read moreLondon close: Stocks finish flat as optimism fades, Greek uncertainty persists
19th Jun 2015 17:06
UK stocks erased gains by the close on Friday with investors turning cautious ahead of the weekend, as ongoing uncertainty in Greece eroded earlier optimism. The FTSE 100 finished just 2.57 points higher (+0.04%) at 6,710.45, pulling back after hitting a high of 6,759.29 early on. Markets had opene
Read moreBroker tips: BP, Hikma, Kingfisher, Berkeley Group, PZ Cussons
19th Jun 2015 11:32
RBC Capital Markets downgraded BP to' sector perform' from 'outperform' and kept the price target at 500p, following the stock's significant outperformance versus its closest peer Royal Dutch Shell. "We continue to see potential upside to BP's cost reduction potential, but feel the risk reward oppor
Read moreBP cut to 'sector perform' by RBC Capital Markets
19th Jun 2015 10:29
RBC Capital Markets downgraded BP to' sector perform' from 'outperform' and kept the price target at 500p, following the stock's significant outperformance versus its closest peer Royal Dutch Shell. "We continue to see potential upside to BP's cost reduction potential, but feel the risk reward oppor
Read moreBP and Rosneft sign production, exploration and refining agreements
19th Jun 2015 09:55
BP and Rosneft said on Friday that they have signed several agreements strengthening their long-term strategic relationship at the St Petersburg International Economic Forum. The two companies signed final binding agreements for Rosneft's sale to BP of a 20% share of Taas-Yuryakh Neftegazodobycha (T
Read moreInterview: BP leveraging digital pathways to improve efficiencies
12th Jun 2015 10:31
BP is harnessing digital technologies to improve efficiencies and drive down costs across its upstream and downstream divisions, according to David Eyton, group head of technology at the oil and gas giant. With the oil price having plummeted by over 45% since June 2014, using Brent as the global pro
Read moreFTSE 100 movers: Supermarkets lower, oil and mining stocks surge
5th Jun 2015 12:57
UK stocks were trading firmly in the red on Friday, as Greece missed the deadline for its €300m payment and OPEC decided against curbing oil production. Sector-wise, gains made by oil stocks and miners were offset by weakness across construction and food retailer stocks. As of 14:00 BST, the FTSE 1
Read moreBP pondering new projects in Russia, RIA reports
2nd Jun 2015 14:10
Oil giant BP is mulling new projects in Russia, according to comments made by chief executive Bob Dudley as cited by Russian state news agency RIA Novosti. Dudley said: "We have lots of ideas, we are discussing several things. I hope that we will find some suitable investment projects in Russia, in
Read moreSector movers: Oil and gas stocks rise, as big tobacco, REITs trade lower
2nd Jun 2015 13:32
The benchmark FTSE 100 continued to lurk below the 7,000 level on Tuesday, as big tobacco and Real Estate Investment Trusts traded lower in London. At 1610 BST, the blue chip index was broadly flat at 6953.36 down a mere 0.22 points, as a class-action lawsuit in Canada ruled that British American To
Read moreLondon close: FTSE plunges 1.2% as winning streak ends on Greek fears
26th May 2015 16:35
Heavy losses in the mining, banking and sectors weighed heavily on UK stock markets on Tuesday, as uncertainty in Greece and mixed economic data from the States hammered risk appetite among investors. The FTSE 100, which had been trading with moderate losses for most of the day, experienced a sell-o
Read moreSector movers: London market retreats as mining, oil stocks plummet
26th May 2015 13:25
London market slipped back from last week's high as it commenced trading on Tuesday, following a bank holiday weekend, with Greece weighing heavily on investor sentiment. At 16:17 BST, the FTSE 100 was back below the 7,000 mark at 6950.20, down 1.16% or 81.52 points, as natural resources stocks, chi
Read moreLondon midday: Banks and oil stocks drag Footsie lower after long weekend
26th May 2015 11:33
Greek uncertainty, interest rate speculation stateside and tonnes of US economic data ahead led to a nervous start in London following the long weekend. The FTSE 100, which settled at a two-week closing high of 7,031.72 on Friday, was down 0.23% at 7,015.37 by Tuesday midday. Concerns that Greece w
Read moreBroker tips: BHP Billiton, BP, Building materials sector
22nd May 2015 11:39
Investec has upgraded its stance on BHP Billiton from 'sell' to 'hold' following the spin-off of the miner's South32 portfolio this week, as well as recent reduced capital and operating cost guidance. While many of BHP's remaining key commodities at prices not seen since 2009, the broker said: "We e
Read moreLondon midday: Stocks hold on to gains before US CPI, Vodafone continues to rise
22nd May 2015 11:23
UK stocks held on to gains on Friday ahead of some key economic data from the States, which is forecast to show that the US remained in deflation last month. Strong gains from Vodafone, HSBC and a host of stocks in the mining sector were supporting markets in London. The FTSE 100 was up 0.37% at 7,
Read moreJPMorgan ups BP to 'neutral' but stays cautious on integrated oil sector
22nd May 2015 10:24
JPMorgan Cazenove analysts have lifted their rating on oil major BP from 'underweight' to 'neutral' but retained a gloomy outlook on the European integrated energy sector. Following recent outperformance, it recommended investors to sell shares in the sector "which will fade if the oil-price momentu
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