BP announces further sale of assets
28th Nov 2012 09:59
Oil giant BP has agreed to the sale of its interests in a number of central North Sea oil and gas fields to TAQA, putting the total value of the assets to be sold at around 37bn dollars since the beginning of 2010. This most recent sale totals $1.058bn, in addition to future payments which, depende
Read moreSunday newspaper round-up: BP, Thomas Cook, RBS
25th Nov 2012 17:40
BP has opened secret talks with Russia's state-owned energy giant Gazprom to help build a pipeline to bring vast quantities of gas into Britain by 2016. David Peattie, BP's director for Russia, said talks were at 'an early stage' but Financial Mail understands that David Cameron has given the thumb
Read moreLondon close: Footsie registers best weekly performance this year
23rd Nov 2012 16:45
- FTSE 100 gains 3.8 per cent higher on the week - German and French confidence data beats expectations - EU summit ends with deadlock After a subdued start, UK stocks rallied in afternoon trade on Friday with decent economic figures from Germany and France lifting the mood. The positive finish h
Read moreBP shakes up Upstream leadership
23rd Nov 2012 14:59
Oil titan BP has appointed long-running company employee Lamar McKay as the new head of its Upstream division, which is thought to ease the pressure on current frontman Bob Dudley. Dudley, who is the Chief Executive Officer of BP, said: "During the past two years, we have successfully introduced a
Read moreFTSE 100 movers: Water groups take a bath; SABMiller extends gains
23rd Nov 2012 14:00
Utilities stocks were among the worst performers of the day on Friday as companies reacted to Tuesday's Ofwat statement in which it clarified some licence modification proposals following requests for more information from shareholders. The general consensus is that water suppliers do not agree wi
Read moreLondon close: Footsie rallies on US budget hopes
19th Nov 2012 16:53
- Obama confident that 'fiscal cliff' will be dealt with - Markets await Eurogroup meeting on Greece - Egypt PM says Israel/Gaza truce may be near -Reuters - Banks and miners surge on increased risk Stocks rallied on Monday after hitting a four-month low the previous session on the back of increas
Read moreBP director tops up stake as group settles fine
19th Nov 2012 16:29
Frank Bowman, a Non-Executive Director of oil giant BP, purchased 3,600 shares in the company at 420.73p each last week. The £15,146 transaction came just one day after BP announced that it had resolved all criminal claims with the US Department of Justice in relation to the Gulf of Mexico oil spi
Read moreLondon midday: Markets rise as concerns over US budget ease
19th Nov 2012 11:35
Stocks advanced on Monday morning as optimistic comments by US lawmakers over the weekend regarding the budget lifted hopes that the government will come to an agreement to avert the impending 'fiscal cliff' by the January 1st deadline. "Today has very little in terms of economic data to be announc
Read moreLondon open: Stocks gain on optimism about 'fiscal cliff'
19th Nov 2012 08:23
Equity markets rose sharply on Monday morning as hopes about US lawmakers nearing a resolution to the 'fiscal cliff' sparked investors' appetites for riskers assets, such as mining stocks. Markus Huber, the head of German HNW trading at ETX Capital said this morning: "After Friday's heavy sell-off
Read moreMonday newspaper round-up: RBS branches, BP, Virgin...
19th Nov 2012 06:45
The UK government is eyeing possible plans to turn 316 branches owned by Royal Bank of Scotland into a state-backed business lender. The move is seen as an option if no buyer can be found for the estate, which RBS is being forced to sell in return for receiving state aid during the financial crisis
Read moreSunday newspaper round-up: Gaza, BP, Banks
18th Nov 2012 20:34
President Obama has increased the pressure on Israel and Hamas to agree a truce before a ground war breaks out in Gaza and pushes any prospect of peace "way off in the future". Talks brokered by Egypt were continuing through the fifth day of violence, and Palestinian sources have claimed that a deal
Read moreLondon midday: Footsie nears four-month low
16th Nov 2012 11:34
- Footsie near levels not seen since end of July - 'Fiscal cliff' and Greek uncertainty clouds the markets - Melrose drops 13 per cent After a fairly subdued start, UK stocks had sunk firmly into negative territory for the third straight day, owing to some heavy falls from Melrose, the banks and re
Read moreBroker tips: BP, Melrose, Morrison
16th Nov 2012 11:32
Nomura has maintained its 'neutral' rating and 455p target price for oil giant BP following Thursday's 4.5bn-pound settlement with US regulators. The broker said that in order to become more positive on BP, it would need to see a greater evidence of an "operational and financial turnaround". "An u
Read moreBroker snap: Nomura waiting on a turnaround at BP
16th Nov 2012 11:29
Nomura has maintained its 'neutral' rating and 455p target price for oil giant BP following Thursday's settlement with US regulators. Shares were broadly unchanged following the news that it has resolved all criminal claims with the Department of Justice in relation to the Gulf of Mexico oil spill
Read moreLondon open: Stocks flat ahead of US budget talks
16th Nov 2012 08:27
The UK benchmark index opened flat on Friday morning as investors turn to the US where President Barack Obama is to hold budget talks in Congress to discuss the impending 'fiscal cliff'. The Footsie finished yesterday's session at 5,678, its lowest closing value since September 5th when it finished
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