Friday newspaper round-up: Sinners, BP, North Sea
6th Jul 2012 07:12
A group of 172 leading economists have written an open letter to Angela Merkel warning her that her decision to agree to allow Eurozone bail-out funds to support sinner states was "wrong". The economists, who included Hans-Werner Sinn, head of Ifo, the influential think tank, argued that the German
Read moreFTSE 100 movers: Aberdeen off on Credit Suisse placement
3rd Jul 2012 13:57
Making headlines this morning was the news that Bob Diamond has called its quits at Barclays, bowing in to political pressure following last week's news that the bank was involved in Libor manipulation. Marcus Agius, who said yesterday that he would resign as Chairman, is to become a full-time Chair
Read moreLondon midday: Barclays, miners provide a lift in London
3rd Jul 2012 11:44
- Investors welcome departure of Barclays CEO - Stimulus hopes drive gains for equity markets - Miners track metals prices higher Trade was choppy on Tuesday morning, but the Footsie edged higher on the back of strength in the mining sector. However, the index stayed within a narrow range with just
Read moreTuesday broker round-up - UPDATE
3rd Jul 2012 08:11
Anite: Jefferies reiterates buy rating and 155p target; Investec puts target under review, buy rating kept. Avocet Mining: Nomura slashes target from 220p to 120p, neutral rating kept. Barclays: Investec maintains buy rating and 240p target. BG Group: Deutsche Bank reduces target from 1,800p to 1
Read moreWednesday newspaper round-up: Glencore, Falklands, Samsung
27th Jun 2012 07:02
The 65bn dollar (42bn pound) mega-merger between commodities giant Glencore and miner Xstrata was close to collapse last night after Qatar's sovereign wealth fund said it was unhappy with the deal. In a shock announcement, Qatar Holdings, Xstrata's second-biggest shareholder with 10.4 per cent, said
Read moreBP sells North Sea fields
26th Jun 2012 09:01
Oil giant BP said it had struck a deal to sell interests in two North Sea oil fields to Japanese firm Mitsui. BP said the sale was part of a strategy to focus on core activities and future growth in the UK and Norway. The company is off-loading its minority interests in the Alba and Britannia fiel
Read moreBP announces sale of Wyoming assets
25th Jun 2012 14:19
BP has announced the sale of its interests in the Jonah and Pinedale upstream operations, Wyoming, to LINN Energy. The deal will earn BP $1.025bn in cash and is currently expected to be completed by the end of July 31st. Bob Dudley, BP group chief executive, said: "This sale will allow us to rea
Read moreBP joins Serica in Namibia
25th Jun 2012 09:29
Serica Energy said the Namibian government had given the thumbs up to a farm-in deal with BP. The firm said the Namibian Minister of Mines and Energy had consented to the assignment by Serica of a 30% interest in its Luderitz Basin Licence 0047. Under the terms of the farm-in, BP has agreed to ear
Read moreLondon midday: Economic data drives stocks lower
21st Jun 2012 11:30
- Chinese, Eurozone PMIs paint gloomy picture - Spanish banking-sector audits due today - Miners, oil stocks fall Disappointing economic data, a negative revision to US growth and rising bond yields in Spain combined to put downward pressure on UK stocks on Thursday, with the Footsie trading firmly
Read moreThursday newspaper round-up: BP, Fed, Executive pay
21st Jun 2012 06:58
BT tried to pull the rug from under BSkyB's football coverage by bidding for the rights to all of the Premier League matches. The telecoms business made a surprise entry into the market last week, agreeing to pay 738m pounds to show 38 matches a season for three years from 2013. However, it was tryi
Read moreSerica making rapid progress in Namibia
19th Jun 2012 08:24
Serica Energy, an oil and gas outfit with major licence interests offshore West Africa, has said 'rapid progress' has been made at the 17,400 square kilometre licence in the Central Luderitz Basin, offshore Namibia. On June 17th the company passed the 1,500 square kilometre mark and, as a result,
Read moreXcite receives more support from BP
12th Jun 2012 07:39
AIM-listed oil and gas firm Xcite Energy has amended an agreement with BP Oil International (BPOI) which will see BPOI provide more funding for Xcite's flagship Bentley field in the North Sea. The agreement, originally announced in January 2010, will see BPOI provide the offtake services to market
Read moreSunday newspaper round-up: Vodafone, Tesco, BP
10th Jun 2012 17:11
Britain's banking regulator is to be handed major powers to influence the way the country's largest lenders are run as part of a reform package to be announced this week by George Osborne. The Chancellor will effectively drop the case for major reform of the UK's largest banks and say that much of t
Read moreLondon midday: Stocks weighed down by Spain, Bernanke
8th Jun 2012 11:40
- Spain downgraded by Fitch - Bernanke comments weigh on markets - Investors nervous ahead of Chinese data this weekend - Spain denies rumours of imminent bank bail-out petition Blue chips were off their intraday lows but still firmly in the red by Friday lunchtime as concerns over Spain continued
Read moreFriday broker round-up
8th Jun 2012 08:11
AVEVA: Merchant Securities maintains buy rating and 1,850p target. Berendsen: HSBC upgrades to overweight, target cut from 575p to 550p. BP: Credit Suisse maintains outperform recommendation and 540p target. BT Group: Nomura cuts target from 295p to 285p, buy rating unchanged. International Cons
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