"Fat finger" error lifts BP shares by 4.8%
12th Sep 2014 15:00
BP saw its shares rise in Friday after what analysts believed to have been a “fat finger” error. Traders said the sudden increase of 4.8% to 494.9p at 10:41 GMT, which added £4.3bn to BP’s market value, was probably caused by a human or keyboard mistake, Reuters reported. The shar
Read moreFriday newspaper round-up: Russian sanctions, Scottish referendum, Minecraft...
12th Sep 2014 06:47
BP and ExxonMobil could be caught up in the escalating trade war between Russia and the West today when a fresh round of economic sanctions are announced. Rosneft and Gazprom, the state controlled energy companies, and others in the energy sector will be targeted and could be prevented from drilling
Read moreSector movers: Oil stocks down with Brent at 16-month low
9th Sep 2014 14:14
Oil and gas producers were among the heaviest fallers in London on Tuesday after Brent crude dropped to below $100 a barrel the previous session. Royal Dutch Shell was providing a drag on the sector, down 1.6%, while BP lost 0.7% and Tullow fell 0.4% Whilst slightly off the low of $99.36 seen on Mo
Read moreBP CFO shows faith in oil giant after US court ruling
8th Sep 2014 16:18
The chief financial officer of oil giant BP has topped up his stake in the group with a £233,318 share purchase following last week's court ruling. Brian Gilvary, who was appointed to his role at the start of 2012, acquired 50,000 shares at 466.64p apiece. Last week the group was slapped with on
Read moreSunday newspaper round-up: BP, Morrisons, UK equities
8th Sep 2014 11:36
BP is preparing for a long legal battle that could delay for several years the financial impact of Thursday's court ruling that it acted with gross negligence and wilful misconduct in the Deepwater Horizon disaster, the Financial Times reported. "It's going to be a long time before we resolve this,"
Read moreBroker tips: RBS, BP, Capita
5th Sep 2014 13:10
Berenberg has hiked its target price for Royal Bank of Scotland from 210p to 250p but has kept a 'sell' rating, saying that it remains "unconvinced on the core profitability of the franchise". In a research report on Friday, the broker said: "We believe the shares are expensive considering the legac
Read moreBP's US future uncertain after judge ruling, says Liberum
5th Sep 2014 10:37
US District Judge Carl Barbier's ruling means that the company could face an extra penalty of as much as $18bn. The stock fell around 6%, or 29p, on the news on Thursday. "This may look overdone given a maximum fine estimated at US$18bn (47p) may be reduced by several factors and that the market h
Read moreFriday newspaper round-up: BP, Tesco, Argentina
5th Sep 2014 07:31
BP faces paying the maximum possible fine of $17.6bn over its Gulf of Mexico disaster after a judge in New Orleans ruled that the oil company was “grossly negligent”. The verdict, which BP has bitterly contested, sent shares in the company diving by nearly 6%, the worst one-day slide in
Read moreLondon close: FTSE ends with modest rise after ECB, BoE, US data
4th Sep 2014 16:59
The FTSE ended Thursday's session up 4.39 points following a busy day for investors around the globe, with rate decisions unveiled by both the Bank of England (BoE) and European Central Bank (ECB)The BoE's Monetary Policy Committee (MPC) decided to keep its main policy rate and the size of its asset
Read moreFTSE 100 movers: Standard Life soars as BP dives on judge ruling
4th Sep 2014 16:38
Standard Life surged after saying that it has agreed to sell its Canadian operations for C$4bn (£2.2bn) to Manulife Financial and would return £1.75bn of this to shareholders. The two companies also made a collaboration agreement in principle for Manulife to distribute Standard Life Investments' pro
Read moreBP found negligent in Gulf of Mexico disaster
4th Sep 2014 15:46
US District Judge Carl Barbier judge said the energy company is to blame for the biggest offshore oil spill in US history, according to Bloomberg. Barbier said BP had been "reckless" in its conduit and attributed 67% fault for the spill. Transocean was also found negligent in the disaster by
Read moreMonday newspaper round-up: Barclays, BP, RAC...
1st Sep 2014 07:01
Barclays is selling its Spanish banking operations to CaixaBank as part of plans to shrink its European divisions. CaixaBank, Spain's third-largest lender, will pay €800m (£632m) in cash for Barclays' retail banking, wealth management and corporate banking businesses. - The Telegraph Alexander Teme
Read moreLondon midday: Profit-taking, Ukraine tensions hit UK stocks
28th Aug 2014 12:14
- Ukraine accuses Russia of invasion - Sentiment dampened by ECB uncertainty - CSR jumps on takeover hopes - Xaar plummets on weak guidance techMARK 2,838.91 -0.22% FTSE 100 6,799.21 -0.46% FTSE 250 15,898.75 -0.79% UK stocks retreated from an eight-week high on Thursday as renewed geopolitical te
Read moreBP battles blaze at largest US refinery
28th Aug 2014 11:03
A fire broke out at BP's largest US refinery on Wednesday night, but the company said the heavy crude facility was still in production. A compressor in one of the refinery's units exploded, according to local reports, shaking local homes and knocking pictures off walls. The FTSE 100 oil major said
Read moreSector movers: Oil stocks fall on IEA demand outlook
12th Aug 2014 14:51
Oil and gas stocks fell on Tuesday after the International Energy Agency (IEA) said global oil demand would increase by less than initially estimated this year. The IEA said that despite heightened geopolitical tensions in countries such as Libya, Iraq and Ukraine, "the oil market today looks bett
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