London midday: Stocks edge higher on improved outlook from BoE
15th May 2013 11:19
An improved outlook from the Bank of England (BoE) lifted UK markets into the blue by Wednesday lunchtime as investors shrugged off disappointing growth figures from the Eurozone and rising unemployment at home. The FTSE 100 was extending its recent winning streak to its 10th day after finishing Tu
Read moreBP and Shell accused of rigging oil prices for over a decade
15th May 2013 09:59
BP and Shell are being investigated into allegations they colluded to rig oil prices for more than a decade. The European Commission raided offices of several oil companies in London, the Netherlands and Norway in an unannounced inspection to look to claims they conspired to "distorted prices to a
Read moreLondon open: Eurozone GDP figures worry markets early on
15th May 2013 08:39
Worse-than-expected growth figures from Eurozone powerhouses Germany and France dampened market sentiment in London on Wednesday morning, as stocks pulled back after hitting fresh multiyear highs the day before. The FTSE 100 finished Tuesday's session at 6,686 after nine straight days in positive t
Read moreWednesday newspaper round-up: BP and Shell, RBS, M&S...
15th May 2013 06:44
BP, Shell and a number of other oil majors are under investigation by European regulators into whether they rigged the price of oil for over a decade, writes The Telegraph. Authorities raided offices of the companies yesterday after MPs and officials suggested that the oil price could be vulnerable
Read moreSunday tips round-up: BP, Direct Line, Tyman
5th May 2013 16:00
BP's first quarter results beat analysts' expectations by 35 per cent driven by strong trading, lower costs and production of higher-margin barrels. Production will be a major driver of future growth, according to The Sunday Telegraph's Questor. Total oil production is forecast to rise more strongly
Read moreLondon close: Stocks fall as markets await Fed, ECB
30th Apr 2013 16:46
A disappointing reading of business activity in the States sparked a late sell-off on UK financial markets on Tuesday afternoon as traders turned nervous ahead some key risk events later this week. The Chicago purchasing managers' index (PMI), one of the leading economic indicators in the US, dropp
Read moreLondon midday: Markets pause ahead of central-bank decisions
30th Apr 2013 11:45
Corporate earnings in London were taken well by the market on Tuesday morning with Lloyds, BP and Imperial Tobacco all on the rise, but the FTSE 100 was broadly flat by lunchtime as traders turned cautious ahead of central-bank decisions later this week. London's benchmark index has now risen by ar
Read moreBroker tips: Lloyds, BP, Invensys
30th Apr 2013 11:21
Lloyds' first-quarter results were modestly ahead of consensus estimates, but Nomura has maintained its 'reduce' rating for the bank, saying that the strong share-price reaction on Tuesday morning was overdone. Nomura thinks that Lloyds' cost guidance - to reduce total costs to £9.6bn this year, be
Read moreBroker snap: BP makes encouraging start to 2013, says Investec
30th Apr 2013 09:23
Investec has kept its 'hold' rating for BP but has hailed a 'very strong' first-quarter result from the oil giant on Tuesday morning. Clean net income came in at $4.22bn for the first three months of the year, a "substantial" 29% above company-compiled consensus, the broker said. Lower seasonal cos
Read moreLondon open: Stimulus hopes drive gains early on
30th Apr 2013 09:13
Strong gains for BP, Whitbread and financials stocks ensured that the FTSE 100 was firmly in positive territory on Tuesday morning as traders showed optimism ahead of central-bank meetings later this week. Sentiment across Europe was lifted early on after Swiss banking giant UBS smashed profit expe
Read moreLondon pre-open: FTSE given boost by US equities
30th Apr 2013 07:29
City sources predict the FTSE 100 will open up 21 points from yesterday's close of 6,458, after US equities advanced strongly on Monday, with the S&P 500 index reaching its highest level since April 11th. Markets reacted positively to new data from the National Association of Realtors (NAR) on US
Read moreBP profits boosted by TNK-BP sale in first quarter
30th Apr 2013 07:09
Replacement cost (RC) profits at oil heavyweight BP jumped in the first quarter as the company saw a large windfall from its sale in the TNK-BP joint venture. The company posted an RC profit (which strips out the effect of movements in the oil price) of $16.60bn for the first three months of 2013,
Read moreTuesday newspaper round-up: Royal Mail, AB Foods, BP...
30th Apr 2013 06:23
According to The Independent, the government is searching for banks to handle a possible initial public offering for Royal Mail this week. A flotation this year is the preferred option. The Telegraph writes that Primark, the fashion chain owned by Associated British Foods, is to pay compensation to
Read moreTuesday preview: BP, Whitbread, Imperial Tobacco Group report
29th Apr 2013 15:08
BP, Whitbread and Imperial Tobacco Group will storm headlines Tuesday as the FTSE 100 companies reveal their latest results. Oil heavyweight BP is expected to report a fall in profit in the first quarter following the fallout of the Gulf of Mexico disaster. The Deepwater Horizon explosion and oil
Read moreMonday newspaper round-up: BP, AstraZeneca, Sainsbury's...
29th Apr 2013 06:48
The Telegraph writes that BP's giant underwater oil project offshore Angola has come in four billion dollars over budget after delays set it back a year. According to The Independent, unions are meeting with AstraZeneca in an attempt to convince the pharmaceuticals group to reverse plans to shut do
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