Wednesday newspaper round-up: Spain, Barclays, Ireland
6th Jun 2012 07:00
Oil giant BP faces fresh complications in its hopes to sell its 50 per cent stake in its Russian operation. A court in Siberia has called for a new hearing into TNK-BP, the joint venture it has with Alfa Access Renova (AAR), a vehicle run by Russian billionaires. The tie-up has been highly profitabl
Read moreThe view from '52 part II: The seventies
5th Jun 2012 02:09
This is a continuation of part one of the article looking back at the changes in the constituents of the FT 30-share industrial index, the predecessor to the FTSE All-Share and FTSE 100 indices. John Brown's body ... By 1971 Britain's shipbuilding presence in the world was on the wane but still i
Read moreSunday newspaper round-up: Drachmas, Xstrata, Pensions
3rd Jun 2012 19:41
HSBC is testing its cash machines in Greece to ensure they could cope with a return to the drachma if the country pulls out of the euro. Britain's biggest bank is taking the precaution because of concerns that Greece could abandon the 17-nation currency bloc amid political stalemate in the country.
Read moreLondon close: Poor data sinks stocks, fuels QE3 speculation
1st Jun 2012 16:26
- Global stocks hit year-to-date low - US, UK, Chinese and Eurozone data disappoints - Gold soars on QE3 speculation after weak data Disappointing employment and manufacturing data from across the world sank global stock markets on Friday, meaning that May's heavy losses for equities were extended.
Read moreFTSE 100 movers: BP a high riser on TNK-BP sale plans
1st Jun 2012 13:16
BP surged early on after revealing that it wants to sell-up at TNK-BP, the joint venture it set up with a consortium of Russian investors, as speculation has run rampant in recent days of a breakdown in the relationship between the British oil firm and its partners. Jefferies this morning estimated
Read moreLondon midday: Manufacturing figures pressure markets lower
1st Jun 2012 11:31
- Manufacturing PMIs in UK, Eurozone, China fall - Eyes on US payrolls - BP jumps on TNK-BP sale After a bright start early on, London's blue chip index had dropped into the red by Friday lunchtime after a barrage of disappointing manufacturing data dampened market sentiment. Manufacturing purchas
Read moreBroker tips: BP, Logica, Informa
1st Jun 2012 11:18
Jefferies has welcomed BP's decision to sell its 50 per cent share in TNK-BP, reiterating its buy rating and 525p target price for the stock on Friday morning. Jefferies value's BP's share of TNK-BP at $30bn, which is 11% of its BP group net asset value (NAV) estimate, although 26% of its current m
Read moreBroker snap: Jefferies values BP's TNK-BP stake at 30bn dollars
1st Jun 2012 10:07
Jefferies has welcomed BP's decision to sell its 50 per cent share in TNK-BP, reiterating its buy rating and 525p target price for the stock on Friday morning. The British oil giant released a statement saying that it has received "unsolicited indications of interest" regarding its stake in TNK-BP.
Read moreFriday broker round-up - UPDATE
1st Jun 2012 09:16
SAB Miller: Credit Suisse reiterates outperform; Societe Generale upgrades to buy from hold, while raising target to 2,800p from 2,600p. ITV: Investec downgrades to sell from hold, lowers target to 60p from 90p. BP: Jefferies reiterates buy recommendation and 525p target. Enterprise Inns: Peel
Read moreLondon open: Stocks rise despite Chinese data
1st Jun 2012 08:25
- Chinese PMI dissapoints - Ireland begins counting votes on fiscal treaty referendum - BP jumps after proposed sale of interest in TNK-BP London's Footsie index bucked the trend seen across European markets to trade firmly higher on Friday morning, ahead of some crucial payrolls data Stateside du
Read moreLondon pre-open: FTSE to rise on Greek polls
1st Jun 2012 07:31
City sources predict the FTSE 100 will open up 26 points from yesterday's close of 5,296, boosted by news that the most recent opinion polls in Greece show that pro-bailout parties are in the lead. BP has revealed that it wants to sell-up at TNK-BP, the joint venture it set up with a consortium of
Read moreBP to cut ties with TNK-BP
1st Jun 2012 07:06
BP has revealed that it wants to sell-up at TNK-BP, the joint venture it set up with a consortium of Russian investors, as speculation has run rampant in recent days of a breakdown in the relationship between the British oil firm and its partners. The group said on Friday morning that it has receiv
Read moreLondon close: Gains erased as Spanish yields advance
28th May 2012 17:02
- Gains trimmed by the end of trade - Newsflow improves in Greece; New Democracy support increases - Spanish concerns weigh on sentiment London blue chips finished broadly flat on Monday as the initial optimism surrounding the Greek elections was outweighed in afternoon trade by ongoing concerns ab
Read moreTensions rise as CEO of TNK-BP quits
28th May 2012 15:41
The Chief Executive Officer (CEO) of Russia's third-largest oil producer, TNK-BP, resigned on Monday, with sources citing a breakdown in the relationship between BP and its joint venture partner, AAR. In a short statement, TNK-BP said that Mikhail Fridman has resigned from the group and his departu
Read moreSunday newspaper round-up: Reality, British Airways, BSkyB
27th May 2012 16:35
Germany's Nobel literature laureate Günter Grass criticised the treatment of Greece in the debt crisis, describing it in a new poem as a "country sentenced to poverty". The 84-year-old's latest work, "Europe's Disgrace", was published in the daily Sueddeutsche Zeitung. As Greece struggles with auste
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