London open: Markets flat as investors await FOMC, economic data
31st Jul 2013 09:06
Markets in the UK opened broadly flat on Wednesday morning as investors adopted a wait-and-see approach ahead of a policy announcement from the Federal Reserve. All eyes will be on the Federal Open Market Committee as its two-day meeting comes to a close this evening. While few actually think that
Read moreWednesday tips round-up: BP, Weir Group, GKN
31st Jul 2013 06:37
BP's shares dipped on Tuesday after its second-quarter results missed forecasts. But the main problem is that it remains unclear what BP is getting from its new position in Russia after selling its 50 per cent stake in TNK-BP, according to the Financial Times' Lex column. The company sold its holdin
Read moreLondon close: Gains limited ahead of central bank decisions
30th Jul 2013 16:41
Caution ahead of a number of central-bank policy decisions kept gains on equity markets to a minimum on Tuesday, with the FTSE 100 finishing slightly higher as traders digested a barrage of corporate earnings. The outcome of the Federal Open Market Committee meeting will be in focus on Wednesday, t
Read moreBP posts decline in second-quarter earnings
30th Jul 2013 14:48
BP's shares plunged after the oil giant posted a fall in second-quarter earnings that fell short of analysts' expectations. Underlying profit came to $2.7bn in the quarter, down 25% from a year earlier. Analysts predicted a profit of $3.4bn. The FTSE 100 group blamed lower oil prices, an unusuall
Read moreLondon midday: Markets rise on earnings, Gfk data
30th Jul 2013 11:39
Markets edged higher on Tuesday morning as traders reacted to a barrage of corporate earnings and data which showed that German consumers were at their most optimistic in six years. The GfK's forward-looking consumer confidence survey for Germany rose from 6.8 to 7.0 in August, its highest levels s
Read moreUS contractor in BP oil spill pleads guilty to destroying evidence
26th Jul 2013 10:40
Halliburton, the US contractor that worked for BP on the Deepwater Horizon oil rig, has confessed to destroying evidence relating to the explosion in 2010. The US Department of Justice announced late Thursday that the company, which supplied cement for the Macondo oil well, would pay the maximum fi
Read moreLondon close: Stocks pare losses ahead of FOMC minutes
10th Jul 2013 16:56
Nervousness ahead of a Federal Reserve statement and disappointing trade figures from China weighed on markets on Wednesday, though a late rally on the FTSE 100 ensured that losses were only minor by the close. The FTSE 100 finished the session at 6,505, down just eight points (-0.12%) on the day a
Read moreMonday newspaper round-up: Co-op , BP, EU-US free trade
8th Jul 2013 06:28
Former Audit Committee Chairman of Britannia Building Society, Bridget Rosewell, has raised questions about The Co-operative Bank, as the mystery over its sudden 1.5bn pound black hole worsens, The Times reported. BP will on Monday attempt to block what it describes as "inflated" compensation payme
Read moreSunday newspaper round-up: Barclays, Glaxo, Egypt
30th Jun 2013 21:49
The Bank of England is heading for a showdown with Barclays this week over threats from the high street giant to rein in its lending. Antony Jenkins, Chief Executive of Barclays, warned on Friday that if the Bank presses ahead with a new capital rule it could be forced to "restrict" loans to househo
Read moreBP calls for probe into oil spill lawyer accused of misconduct
21st Jun 2013 13:54
Oil giant BP is seeking an investigation into allegations a lawyer working for the administrator reviewing claims for the Gulf of Mexico oil spill collected portions of settlement payments. The lawyer, Lionel Sutton, is accused of referring claims to a New Orleans law firm in exchange for a share o
Read moreLondon midday: Financials, miners pull FTSE 100 to seven-week low
11th Jun 2013 11:23
Falling commodity prices and rising government bond yields resulted in a sell-off on Tuesday morning, as the recent volatility on equity markets continued, sending the FTSE 100 to a seven-week low. The FTSE 100 was trading around the 6,300 markby midday, the first time it has fallen to this level s
Read moreAMEC awarded environmental consultancy contract by BP
11th Jun 2013 07:06
Engineering and project management group AMEC is to work with BP to provide the oil giant with environmental consulting services across its projects worldwide. The contract, for an unspecified amount, will run until 2017 and see AMEC provide services for all of BP's assets in the upstream, refining
Read moreBP Exploration Vice President trims his holding
31st May 2013 15:15
The Executive Vice President of BP's exploration division, offloaded over half a million quids-worth of shares in the oil major, the company announced on Friday. Mike Daly, who joined BP Exploration back in 1986 as a technical specialist in structural geology, disposed of 110,000 ordinary shares in
Read moreSunday newspaper round-up: ENRC, Severn Trent, Enterprise Inns
26th May 2013 16:50
The largest investor in ENRC has fallen in behind a 3.3bn pound takeover bid for the beleaguered FTSE 100 miner, all but ensuring its success despite protests from independent directors. Kazakhmys, a rival resources group with operations in Kazakhstan, has signalled privately that it will vote its 2
Read moreWednesday newspaper round-up: Japan, BP, RBS and Lloyds...
22nd May 2013 06:51
The Bank of Japan has held off on new monetary easing, according to the Financial Times, "judging that the huge stimulus unveiled in April will be enough to spur price gains in the world's third-largest economy". The central bank said that Japan has "started picked up". Financial Times says that Br
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