London open: Footsie flat despite falls for BP, Weir and Fresnillo
31st Jul 2012 08:28
- BP, Weir and Fresnillo provide some downward pressure - UK consumer confidence remains subdued - Markets await the Fed and ECB Some disappointing results from BP, Weir Group and Fresnillo were preventing gains for the Footsie on Tuesday morning; meanwhile, consumer confidence data in the UK showe
Read moreLondon pre-open: Flat start expected for FTSE
31st Jul 2012 07:35
City sources predict the FTSE 100 will open down just one point from yesterday's close of 5,694 as investors await central bank meetings set to take place later this week. Investors have grown increasingly optimistic of late that the world´s monetary authorities will move to butress growth, parti
Read moreBP profits slashed in Q2
31st Jul 2012 07:05
Weaker oil and gas prices and a cut in output due to an extensive maintenance programme hit BP's profits hard in the second quarter. The company's underlying replacement cost profit for the quarter was $3.7bn, down from $5.7bn for the same period in 2011 and $4.8bn the previous quarter. This measu
Read moreTuesday newspaper round-up: BP, Yahoo, Lloyds
31st Jul 2012 07:03
The US Treasury Secretary urged Europe's leaders to follow through on their promises to do "whatever it takes" to save the euro as he embarked on a whirlwind round of diplomacy in Germany. Tim Geithner stoked speculation about a co-ordinated transatlantic push to bolster the single currency as he me
Read moreTuesday preview: Volumes likely to be down at BP
30th Jul 2012 15:43
BP's results on Tuesday will bring us up to date on a company that has been busy reshaping itself since the Macondo oil well tragedy in the Gulf of Mexico. Broker Charles Stanley thinks net income for the second quarter will be down to $5.1bn from $5.6bn the year before. The broker predicts a quart
Read moreWeek Ahead: HSBC, BP, BoE rate decision, US jobs ...
27th Jul 2012 09:24
Though not as busy as the week just ended, next week has its fair share of big events, including results from BP, the Bank of England's interest rate decision and US jobs data for July. On Monday, under-fire banking giant HSBC and household goods titan Reckitt Benckiser get the week underway. HSBC
Read moreBroker snap: Rosneft bid for TNK-BP stake not without its issues
25th Jul 2012 15:06
Credit Suisse has reiterated its 'outperform' rating and 500p target price for British oil major BP following the recent news that Rosneft is interest in its stake in TNK-BP, but the broker does highlight some concerns with the potential deal. Russia-focused oil titan Rosneft announced yesterday it
Read moreWednesday newspaper round-up: FSA, Apple, Land Rover...
25th Jul 2012 07:32
It is up to banks to rebuild the public's trust following a succession of scandals, the head of the Financial Services Authority said today. Lord Adair Turner told a business audience in London this morning that the fixing of the Libor rate would not have been spotted without "intense" and "expensiv
Read moreLondon close: Stocks fall on Eurozone outlook
24th Jul 2012 16:40
- Spanish bond yields continue to set new records - Moody's turns 'negative' on Germany, Netherlands and Luxembourg - Croda surges after first-half results Equity markets spent another day in the red on Tuesday as concerns over the Eurozone continued to dampen the mood; following the two per cent
Read moreLondon midday: Stocks lower as Spanish yields keep rising
24th Jul 2012 11:45
- Investors digest PMI data from China and Eurozone - Moody's turns 'negative' on Germany, Netherlands and Luxembourg - Spanish bond yields continue to set new records The Footsie was slightly lower by Tuesday lunchtime as Eurozone jitters continue to dampen equity markets. The index was swinging
Read moreRosneft throws its hat into the TNK-BP ring
24th Jul 2012 11:21
Russia's state-owned oil company Rosneft is to enter negotiations with BP to buy the integrated oil giant's shareholding in TNK-BP, Russia's third largest oil producer. BP is already in discussions with Alfa Access-Renova (AAR), its partner in the TNK-BP joint venture, regarding AAR taking full con
Read moreThursday newspaper round-up: Britain, Sicily, BP
19th Jul 2012 06:51
In an interview with The Daily Telegraph, Mr Cameron says that he now expects the crisis in the eurozone to drag on for years, blighting the British economy. He indicates that the programme of spending cuts, initially planned to take five years, is now likely to last for the entire decade. Mr Camero
Read moreSociete Generale reviews European oil sector
16th Jul 2012 12:43
In a report on the European oil sector, Societe Generale upgraded Spanish oil company Repsol and the Italian Eni from 'hold' to 'buy'. On the other hand, it downgraded French group Total from 'buy' to 'hold' and lowered its price target from 45.50 to 39 euros. Analysts at the French investment bank
Read moreBroker snap: Nomura downgrades European oil to 'neutral'
12th Jul 2012 12:42
Nomura applied broad-based reductions to share price targets across the oil sector on Thursday morning, after downgrading its view on the European oil category from 'bullish' to 'neutral'. "In spite of year-to-date underperformance, we take a more sanguine industry outlook," the broker said, listin
Read moreLondon midday: Stocks surge after UK production data
10th Jul 2012 11:53
- UK industrial production beats estimates - Eurogroup gives Spain more time - Oil stocks rise after Norwegian lockout prevented London's FTSE 100 index rose strongly on Tuesday morning with resource stocks and banks providing a lift after some better-than-expected UK industrial production data. U
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