London midday: Gains pared despite strong performance by banks
27th Mar 2012 11:55
- Government may cut stake in RBS - Defensives sold off - Resolution could split before sale The Footsie was nearly back where it started by midday, after gains were trimmed as heavy losses for Resolution, Compass and utilities stocks weighed on the blue chip index. The earlier rise for London's
Read moreBP eyes asset sale after Osborne's oil budget
26th Mar 2012 09:25
It looks like BP could be trying to cash in on some UK government largesse. The Sunday Times reported yesterday that the oil giant is offering to sell around £2bn worth of assets in the North Sea. The paper claims the sale has been prompted by the Chancellor George Osborne's decision in this year'
Read moreLondon open: Eurozone worries hold back stocks
26th Mar 2012 08:30
- European markets cautious, Spanish index drops - Germany may back an increased firewall - Abderdeen advances after pre-close trading update Stocks edged higher on Monday morning, but gains were only moderate as concerns over Europe weighed on sentiment. The STOXX Europe 600 Index lost a total o
Read moreSunday tip round-up: Dogs of the FTSE, Investors´ favourites
18th Mar 2012 14:07
Since the year 2000 experience seems to show that investing in the highest yielding stocks of the UK´s benchmark index, when the economy is recovering, can be a sound strategy. Therefore, given signs that the worst is over the Midas team at the Daily Mail has decided to re-launch their 'Dogs of the
Read moreBP takes a ride with Chariot
16th Mar 2012 11:02
Chariot Oil and Gas says it is 'pleased' that BP has taken a further stake in an licence offshore Namibia. BP has upped its holding in "Block 2714A" to 45%, having acquired 20% from the operator Petrobas Oil and Gas. The ownership of the site now stands at Petrobras 30%, BP 45% with Enigma Oil & G
Read moreResources round-up: Forte Energy, Ferrum, Gold Oil...
15th Mar 2012 12:59
Forte Energy, a uranium company, has announced positive assay result from the final seven holes from the recent reverse circulation drilling programme completed at the A238 Prospect in Mauritania. The assay results from the programme have confirmed the mineral resource extension at a depth below t
Read moreLondon midday: Lacklustre reaction to Greek debt-swap
9th Mar 2012 11:36
- 85.8 per cent of private creditors accept Greek bond-swap. - Merkel 'pleased' with high participation. - Broker downgrades take their toll on miners, oil stocks. The FTSE 100 index was trading just a few points lower by midday as Greece's crucial debt-swap deal failed to inspire confidence in th
Read moreThursday broker round-up - UPDATE
8th Mar 2012 09:31
Admiral: Nomura raises target from 1,100p to 1,300p, buy rating kept; Collins Stewart ups target from 975p to 1,110p, hold rating kept; Credit Suisse reiterates outperform rating and 1,300p. Afren: UBS raises target from 140p to 150p, buy rating maintained. Amlin: Jefferies raises target from 317p
Read moreTuesday tips round up: Petrofac, Abcam, BP
6th Mar 2012 06:58
Petrofac, the oil and gas engineering and investment firm, gets some kind words from Tempus in The Times. The company has consistently raised its profits target and yesterday even beat revised guidance to deliver a year end increase of 25% to $539.4m. If the company can keep the order book filled
Read moreLondon close: Miners lead the decline as China cuts GDP forecast
5th Mar 2012 16:36
- Chinese growth forecasts dampens miners. - UK and Eurozone PMIs disappoint. - Steering Committee to participate in Greek debt swap. London's blue chip index fell to its lowest level of the day on Monday as concerns over the global economy dampened the mood. Miners bore the brunt of the sell-off i
Read moreFTSE 100 movers: Intertek on top after strong 2011 results
5th Mar 2012 14:40
Product testing group Intertek soared into top spot after its 2011 results passed with flying colours, with both revenue and profits ahead of market expectations. The firm saw revenue growth of 27% to £1,749m in 2011 from £1,374m in 2010. In constant currency terms, revenue grew 8.3% on an organic
Read moreLondon midday: China, Eurozone worries weigh on stocks
5th Mar 2012 11:49
- China cuts 2012 GDP target to 7.5%. - Eurozone/UK services PMIs disappoint. - German DSW recommends rejecting PSI deal. Stocks continued to fall by lunchtime on Monday, as the combination of disappointing economic data from the UK and Eurozone and some conservative growth forecasts from China wei
Read moreLondon open: Miners fall as China cuts GDP target
5th Mar 2012 08:32
- China cuts 2012 GDP target to 7.5%. - Miners drag Footsie lower early on; Glencore declines after results. - BP up after Macondo settlement. With China cutting its growth forecast to the lowest level since 2004, miners were the worst performers in early trading on Monday, dragging London's FTSE 1
Read moreBP puts oil spill behind it with 7.8bn dollar settlement
5th Mar 2012 06:59
BP has finally reached a settlement to resolve the majority of claims stemming from the Deepwater Horizon oil spill in April 2010. The settlement, expected to be paid from the $20bn trust which was set up following the disaster, has been reached with the Plaintiffs' Steering Committee (PSC) and wil
Read moreSunday newspaper round-up: Oil, Greece, Trading volumes
4th Mar 2012 16:04
BP has reached a $7.8bn (£4.9bn) deal to settle claims by more than 100,000 fishermen who lost work, cleanup workers who got sick and other private claimants who were affected by the 2010 Gulf of Mexico oil spill, ahead of a lengthy and damaging court showdown over liability. The British oil giant s
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