BP to pay at least $1.5bn to Rosneft in supply deal
27th Jun 2014 08:01
Oil majors BP and Rosneft have signed a long-term contract which will see the British group pay at least $1.5bn upfront for the supply of oil from the Russian company. The five-year agreement, which is on a pre-paid basis, covers export deliveries of up to 12m tonnes of oil products which can be re
Read moreLondon close: FTSE ends modestly higher ahead of Fed statement
18th Jun 2014 16:59
- All eyes on Fed - Unanimous vote by BoE MPC - Investors poised for "imminent" takeover bid techMARK 2,804.94 +0.37% FTSE 100 6,778.56 +0.17% FTSE 250 15,624.20 +0.25% The FTSE ended today's session higher ahead of the latest statement release by the Federal Reserve and following the publication
Read moreFTSE 100 movers: Shire continues to soar on potential bids
18th Jun 2014 15:24
Shire's shares have spiked higher on rumours that Allergan could bid for the company in an effort to fend off a hostile takeover attempt by Valeant Pharmaceuticals. Bloomberg cited an analyst at SunTrust Robinson Humphrey who said that a bid is "imminent" and "makes strategic sense" for the US compa
Read moreSector movers: Crude prices, corporate deals push oil stocks higher
18th Jun 2014 13:56
Rising crude prices and deal activity pushed stocks in the oil and gas sector higher on Wednesday. Brent crude prices were up a further 0.1% at $133.58 a barrel today, extending recent gains, as markets reacted to the latest geopolitical developments in Iraq. Islamist-led militants have attacked Ir
Read moreLondon midday: Oil stocks lead markets higher ahead of FOMC
18th Jun 2014 11:48
- FOMC meeting to keep traders cautious - Iraq tensions escalate as rebels attack refinery - BoE in focus amid rate-hike speculation techMARK 2,800.97 +0.23% FTSE 100 6,795.76 +0.43% FTSE 250 15,610.03 +0.16% UK equities rose on Wednesday ahead of a policy decision at the Federal Open Market Commi
Read moreWednesday newspaper round-up: Bank of England, MySale, Help to Buy
18th Jun 2014 07:18
The Bank of England "will not hesitate" to take further action to cool Britain's booming housing market and stop the economy from boiling over, Mark Carney has said. On the day official data showed the average UK house price is ten times bigger than the average salary, the Governor used the Bank's a
Read moreLIVE: Iraq conflict
17th Jun 2014 14:20
11:45 The Iraqi Prime Minister Nouri Maliki has confirmed that air strikes have been carried out by Syrian forces, according to the BBC. The fighter jets on Tuesday dropped bombs on Isis militants occupying the Iraqi border town Qaim. Maliki was quoted as saying that while the attack had not been re
Read moreLondon midday: Stocks erase gains on Iraq concerns, mixed UK data
17th Jun 2014 11:20
- M&A and deals lift a number of blue chips - UK inflation drops to four-and-a-half year low - UK house prices surge 9.9% - Iraq concerns still weighing on risk appetite techMARK 2,794.67 -0.09% FTSE 100 6,755.68 +0.02% FTSE 250 15,660.55 -0.29% London stocks fluctuated at a seven-week low on Tues
Read moreBP to sign LNG deal with CNOOC
17th Jun 2014 09:45
BP is set to sign a deal later on Tuesday to supply China National Oil Corporation (CNOOC) with liquefied natural gas (LNG). Chief Executive Bob Dudley said the agreement, which is worth around $20bn, would be signed in London. It comes as UK Prime Minister David Cameron is due to announce a serie
Read moreBP so far unaffected by violence in Iraq, Chief Executive says
17th Jun 2014 09:36
The turmoil in Iraq has not yet had an impact on BP's operations, the oil giant has said. Speaking at an energy conference in Moscow, the group's Chief Executive, Bob Dudley, told reporters that it was currently remaining "very vigilant", but that its assets were "a long way from the troubles".
Read moreSerica Energy buys North Sea oil field stake from BP
17th Jun 2014 07:50
Oil explorer Serica Energy is buying an 18% stake in the Erskine oil field in the North Sea from BP for $11.1m plus 27m new shares. Serica is buying the interest in UK blocks 23/26a and 23/26b, both in area B, containing the Erskine Field in the UK Central North Sea, from BP Exploration Operating C
Read moreTuesday newspaper round-up: Bank of England, Immigrants, Energy bills
17th Jun 2014 06:41
An early rise in interest rates has been all but confirmed after the most dovish of the Bank of England's nine policymakers revealed yesterday that he expects to vote for an increase by May of next year. In words that underscored the governor's surprise statement last Thursday that rates could rise
Read moreFTSE 100 movers: Oil stocks gain as housing stocks dive
13th Jun 2014 15:39
Oil and gas stocks were among the handful of names making gains today as share prices tracked oil prices higher, with Shell, BG Group and BP on the rise. Oil prices have surged to a nine-month high amid growing fears about the situation in Iraq, a major oil producer. United Utilities was one of t
Read moreLondon midday: FTSE near six-week low as rate-hike speculation sinks housebuilders
13th Jun 2014 11:35
- Housing stocks fall sharply - Carney signals impending rate hike - Osborne acts to cool housing market - Oil stocks track crude higher on Iraq tensions techMARK 2,806.77 -1.40% FTSE 100 6,771.65 -1.04% FTSE 250 15,802.08 -2.01% The increased possibility of a rate hike before the end of the year
Read moreLondon open: Housing stocks weigh as rate-hike expectations increase
13th Jun 2014 08:28
- Housing, property stocks provide a drag - Carney warns of impending interest rate hike - Osborne moves to cool housing market - Oil prices spike on Iraq concerns techMARK 2,830.21 -0.58% FTSE 100 6,817.00 -0.38% FTSE 250 15,984.76 -0.88% Weakness in the housing sector dragged UK stocks lower on
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