Broker tips: Barclays, BP, Standard Life
24th Apr 2013 12:08
Canaccord Genuity has kept its 'hold' rating and 280p target price for Barclays, saying that the bank's first-quarter results look 'slightly soft on a first read'. "We don't believe investors can read much into a single quarter of number for any bank, particularly one where a new management team is
Read moreBroker snap: BP remains top sector pick, says BofA
24th Apr 2013 09:46
Bank of America Merrill Lynch (BofA) has maintained its 'buy' rating and 540p target price for BP, saying that the stock remains a top pick amongst European oil majors after a capital markets day from Rosneft delivered a 'confident message'. Rosneft, in which BP holds a 19.75% stake, "gave a confid
Read moreThursday newspaper round-up: Sainsbury's, BP, Apple...
18th Apr 2013 06:56
Supermarket giant Sainsbury's is looking to sell its London headquarters and has told 150 head-office staff that they will be relocated to Coventry and Manchester, reports The Independent. The group has also said it plans to close its final-salary pension scheme. According to the Financial Times, i
Read moreBP's Executive VP of Corporate Business Activities retires at AGM
12th Apr 2013 13:00
Oil giant BP has announced that its Executive Vice President of Corporate Business Activities, Dr Byron Grote, retired from the role on Thursday's annual general meeting (AGM). Grote was appointed as an Executive Director of BP in August 2000. No further details were given about his departure.
Read moreFriday newspaper round-up: Cyprus, Portugal, BP...
12th Apr 2013 07:00
Cyprus needs to find an extra six billion euros to contribute to its own bailout, pushing the aid bill to 23bn euros, according to a leaked draft of an updated rescue plan. The Guardian says that much of this shortfall is expected to come from savers at its struggling banks. "Portugal could struggl
Read moreNine percent of BP investors refuse to back Chairman
11th Apr 2013 16:05
At BP's annual general meeting (AGM), six per cent of investors voted against the re-election of Carl-Henric Svanberg as Chairman of the group. Including abstentions, 9.0% of shareholders declined to support the oil giant's existing Chairman, according to the Daily Telegraph. On the issue of exec
Read moreBroker tips: Centamin, FirstGroup, BP...
9th Apr 2013 11:00
Canaccord Genuity has kept its 'sell' rating and 38p target price for Egyptian gold miner Centamin despite the strong first-quarter production figures announced on Tuesday morning, saying that legal issues still remain. The broker said: "Although we would expect shares to be stronger today we think
Read moreBroker snap: Tradenext highlights buying opportunities on recent sterling weakness
9th Apr 2013 10:48
Tradenext has highlighted a list of attractive opportunities on the London stock market given the recent weakness of the sterling pound. "A fall in the value of sterling will further support FTSE100 stocks and earnings, and make it easier for UK companies to sell their products overseas," said Ronn
Read moreLondon midday: Markets flat as BoE holds fire, traders await ECB
4th Apr 2013 11:19
The FTSE 100 was little changed by Thursday lunchtime as the Bank of England (BoE) voted to monetary policy on hold, as all eyes turn to the European Central Bank (ECB) ahead of its policy decision in the coming hours. Traders also had to digest a number of mixed economic indicators this morning, w
Read moreBP heads back to court for US oil spill appeal
4th Apr 2013 08:51
BP is set to appeal tomorrow against the amount of its 8.5bn-dollar settlement over the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. The oil giant is making a third appeal to Judge Carl Barbier, claiming the settlement administrator Patrick Juneau has made some compensation payments for
Read moreWednesday newspaper round-up: BP, RBS, Stobart...
3rd Apr 2013 06:53
Oil major BP has put its US wind-power unit up for sale as it continues to pull back from renewable energy and turn to its core oil and gas business, according to the Financial Times. The paper says that its wind-power operations in the States could be worth 1.5bn pounds. Ahead of the planned flota
Read moreThursday newspaper round-up: Great Western, BP, Centrica...
28th Mar 2013 06:52
The Telegraph says that four of the UK's largest train operators - Arriva, FirstGroup, National Express and Stagecoach - have dropped lawsuit worth 40m pounds against the government to recover costs during the franchises process for Great Western that was scrapped earlier this year. The Clair proje
Read moreSunday share tips: BP, Howden Joinery, BAE Systems
24th Mar 2013 19:41
British Petroleum's announcement of an 8bn dollars share repurchase plan ellicited a 2% rise in its stock price; however, it is questionable whether that is what the company ought to be doing, the FT's Lex column says. Although under a worst-case scenario for the on-going trial in the US over the Gu
Read moreLondon close: Gains erased as Cyprus puts bank levy back on the table
22nd Mar 2013 16:47
Stocks trimmed gains on Friday afternoon on the back of ongoing developments in Cyprus as politicians desperately scramble to come up with a 'Plan B' to raise the funds needed to secure financial assistance from the Troika. Nevertheless, markets maintained their positive bias on hopes that a deal c
Read moreLondon midday: Markets cautious on critical day for Cyprus
22nd Mar 2013 11:47
European stocks were making moderate gains on Friday morning but the mood on financial markets was cautious with the focus firmly on Cyprus ahead of pivotal day for the country's future in the Eurozone. According to government spokesman Christos Sylianides this morning, the "next few hours" are key
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