FTSE 100 movers: Miners rise on improved Eurozone outlook
22nd Oct 2012 15:25
Mining and banking stocks were among the best performers on the improving outlook for the Eurozone, with Anglo American, Fresnillo, Antofagasta, Vedanta, and Glencore all rising higher. Barclays and Lloyds were also doing well, boosted by news of a decent outcome for Spanish Prime Minister Mariano
Read moreBroker snap: Investec reiterates 'buy' on BP after Rosneft deal
22nd Oct 2012 14:51
Investec has maintained its 'buy' rating and 460p target price for oil titan BP after announcing a deal to sell its stake in the TNK-BP joint venture to Rosneft. As part of the deal, BP receives $17.1bn in cash and additional shares in Rosneft. BP then intends to use $4.8bn of this cash to purchase
Read moreBP reaches agreement with Rosneft on TNK-BP stake -UPDATE 2
22nd Oct 2012 12:12
BP has unveiled the terms of the agreement for the sale of its stake in the troublesome TNK-BP business to Russian state oil firm Rosneft, drawing mixed reactions -at best- from analysts. While some observers´ first response was that the cash portion of the transaction was better than expected, that
Read moreLondon midday: Stocks push into the blue on Eurozone news
22nd Oct 2012 11:48
-Japanese exports disappoint -Merkel says Irish bank debt is a 'special case' -Miners and banks provide a lift After an earlier fall into the red, London's FTSE 100 was making slight gains by Monday lunchtime as improving news-flow from the Eurozone helped to offset some disappointing economic data
Read moreLondon open: Stocks dented by Japanese export figures
22nd Oct 2012 08:42
- Japanese export data misses forecasts - US corporate earnings in focus - Aggreko extends losses US corporate earnings and some disappointing economic data from Japan were weighing on stocks in London on Monday morning. Japanese exports declined 10.3% last month, worse than the 5.8% decrease in A
Read moreLondon pre-open: FTSE set to edge lower
22nd Oct 2012 07:22
City sources predict the FTSE 100 will open down nine points from Friday's close of 5,896 as attention remains focused on the Eurozone. It has been reported that Greece is close to securing the release of the next bailout package, worth €31.5bn. Speaking in Bucharest at the end of last week, Gree
Read moreBP confirms Rosneft talks
22nd Oct 2012 07:04
BP has confirmed it is in advanced talks with Russian state oil firm Rosneft over the sale of its 50 per cent stake in TNK-BP. The British firm said no agreement had yet been reached and further announcement would be made "if and when" a deal is struck. BP's relationship with TNK and its oligarch
Read moreSunday newspaper round-up: RBS, BP, Asos
21st Oct 2012 16:09
Nationwide is considering a takeover bid for the 316 bank branches that have been put back up for sale by Royal Bank of Scotland. Britain's biggest building society is mulling a possible offer following the collapse of a £1.65bn deal to sell the network to Santander UK. RBS, which has to dispose of
Read moreTNK-BP official arrested on suspicion of fraud
19th Oct 2012 09:07
According to reports coming from Reuters, the Russian Interior Ministry has announced that TNK-BP's government relations manager has been arrested on suspicion of fraud. This news follows hard on the heels of reports that the Russian Government-controlled Rosneft is in talks to buy BP's 50% stake i
Read moreFriday broker round-up - UPDATE
19th Oct 2012 09:00
Aggreko: Jefferies keeps buy rating and 2,800p target; Seymour Pierce keeps buy rating and 2,500p target; Panmure Gordon cuts target from 2,228p to 2,159p, hold rating unchanged. Alliance Pharma: umps upgrades to buy, target lifted from 32p to 37p. Avacta: Panmure Gordon keeps buy rating and 1.75p
Read moreLondon close: Barclays limits gains after PPI confession
18th Oct 2012 16:44
- Barclays to take another unexpected hit from PPI claims - Chinese data boosts miners - Markets cautious before EU summit After swinging between gains and losses for most of the session, UK stocks finished flat on Thursday despite some robust growth figures from China, as some worse-than-expected
Read moreBP and Rosneft deal looming
18th Oct 2012 12:02
This week is set to see the Russian Government-controlled Rosneft buy BP's 50 per cent stake in TNK-BP for an estimated $28bn, according to reports in Bloomberg and the Financial Times. According to these media reports Rosneft might also acquire the other 50% from the Alfa-Access-Renova (AAR) conso
Read moreLondon midday: Stocks flat but BP gains after Rosneft deal
18th Oct 2012 11:39
- BP gains after Rosneft offer - Markets cautious ahead of EU summit - Chinese economic data impresses The Footsie was trading within a narrow range of just 22 points on Thursday morning as investors showed caution ahead of the upcoming EU summit in Brussels this afternoon. The UK benchmark was f
Read moreThursday newspaper round-up: Eurozone, BP, Bumi
18th Oct 2012 07:05
Friction between France and Germany set the scene for a bumpy summit today in which European Union leaders are to lay the groundwork for bolstering the fragile Eurozone and open the way to a two-tier Europe with Britain on the outside. President Hollande fired an undiplomatic broadside at Germany, u
Read moreLondon close:Unemployment data boosts sentiment
17th Oct 2012 16:58
The Footsie finished the day firmly in the blue and just short of the day's high after better-than-expected unemployment figures lifted sentiment. Miners were also playing their part, boosted by investor confidence ahead of the third quarter growth data due out from China, which is expected to incr
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