Thursday newspaper round-up: BP, Deadlock, Lloyds
3rd Oct 2013 07:36
BP has reached a milestone in its legal battle to limit its compensation settlement for the 2010 Deepwater Horizon disaster, following a favourable ruling from a US court. The Fifth Circuit appeals court in New Orleans on Wednesday night approved an injunction to stop payments to businesses that had
Read moreLondon pre-open: FTSE to edge higher ahead of EU data
3rd Oct 2013 07:34
City sources predict the FTSE 100 will open around six points higher than yesterday's close of 6,437.50, as US benchmarks picked up off their lows. That said, US stocks still finished Wednesday's session with moderate losses as concerns about the looming debt-ceiling deadline and the ongoing budget
Read moreBP 'extremely pleased' as US court halts settlements over oil spill
3rd Oct 2013 07:08
British oil major BP has said it is 'extremely pleased' with the decision by the US appeals court to halt some payments related to claims over the giant oil spill in the Gulf of Mexico back in 2010. BP had asked the courts for compensation assessment standards to be tightened to limit compensation
Read moreTuesday newspaper round-up: Shutdown, Help to Buy, SSE
1st Oct 2013 07:02
The US government will start to shut-down numerous agencies on Tuesday and send tens of thousands of workers home after Republicans and Democrats failed to bridge their differences over the budget. A series of votes in the Republican-controlled House of Representatives and the Democratic Senate left
Read moreMonday newspaper round-up: Italy, China manufacturing, Help to Buy
30th Sep 2013 07:25
Enrico Letta, Italy's centre-left Prime Minister, is seeking urgently parliamentary support for a new government after centre-right leader Silvio Berlusconi pulled his ministers out of their five-month-old coalition, risking a financial market backlash. Mr Letta held crisis talks on Sunday night wit
Read moreLondon open: Stocks slip despite Merkel victory in German elections
23rd Sep 2013 08:04
Stocks slipped into the red on Monday morning as investors digested this weekend's elections in Germany along with the uncertain outlook for monetary policy in the US. German Chancellor Angela Merkel's CDU/CSU party won 41.5% of the vote in the federal elections this weekend after winning 311 seats
Read moreMonday newspaper round-up: Ernst and Young, Tensions, Gas field
23rd Sep 2013 07:24
Further proof that Britain is hauling itself off the economic rocks is offered today with news that one of the Big Four accountancy firms is to add thousands to its ranks to cope with growing demand for business advice. Ernst and Young will hire 3,700 people in Britain alone by the end of June next
Read moreLondon close: Stocks hit by Bullard comments as post-Fed rally fades
20th Sep 2013 16:39
The exuberant post-Fed mood quickly faded on Friday with comments from one US policymaker dampening stocks before the close of trade. Risk appetite was also scaled back as caution set in ahead of the German elections at the weekend with the outcome still highly uncertain. The FTSE 100 finished 28.
Read moreFTSE 100 movers: Tate & Lyle hit by Credit Suisse rating cut
20th Sep 2013 15:02
Shares in food and sweeteners manufacturer Tate & Lyle were falling heavily on Friday after the stock's rating was cut by Credit Suisse from 'outperform' to 'neutral'. The bank said its greatest concern is a proposal in Mexico to tax soft drinks which would reduce demand the group's high-fructose
Read moreBP gains on takeover bid rumours
20th Sep 2013 14:17
BP's shares rallied as investors speculated on rumours of a takeover bid by US energy giant Exxon Mobil. The oil and gas company has been surround by market chatter of a takeover since its share price was hit by the Gulf of Mexico disaster in 2010. BP has been forced to pay compensation after the
Read moreLondon midday: Stocks pause ahead of German elections
20th Sep 2013 11:36
Stocks were trading broadly flat by Friday lunchtime as markets paused for breath in the aftermath of the Federal Reserve's surprise decision not to taper quantitative easing, though upside was limited ahead of the German elections this weekend. After a weak start, the FTSE 100 was more or less unc
Read moreSector movers: Oil and gas stocks fall after delays at BG Group
9th Sep 2013 18:15
Oil and gas stocks were firmly in the red on Monday as project delays from natural gas giant BG Group and falling crude prices dampened sentiment across the sector. BG, the 13th largest listed company in the UK by market capitalisation, slumped today after scaling back its production guidance for n
Read moreSunday newspaper round-up: Vodafone, Serco, Glencore
8th Sep 2013 20:09
Vodafone is considering a £6bn takeover of Africa's Maroc Telecom after agreeing to sell its stake in Verizon Wireless, the Mail on Sunday reported. The phone company is also mulling a move for France's SFR using the war chest it will have after returning cash from the Verizon deal to shareholders.
Read moreFTSE 100 movers: M&S leaps after HSBC upgrade
5th Sep 2013 15:20
High Street department store Marks & Spencer surged today after HSBC upgraded the stock from 'neutral' to 'overweight', saying it is the most operationally geared among its peers to play on the UK consumer recovery. Hotels group IHG was also a high riser after UBS raised its rating from 'neutral to
Read moreLondon midday: Stocks trim gains, BoE holds rates
5th Sep 2013 11:27
After a strong start for UK stocks, the FTSE 100 pared gains by lunchtime as nervousness set in ahead of a number of risk events that have the potential to spark some volatile moves on financial markets. Risk appetite was also scaled back ahead of the G20 meeting which begins in St Petersburg today
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