London open: Stocks rise after Greek draft deal
9th Feb 2012 08:19
- Stock nudge higher after Greece drafts agreement. - BG leads oil stocks higher. - Hagreaves, Rio, Rolls-Royce, British Land, Diageo, Tate & Lyle fall after updates. It was a cautious start for the Footsie as stocks edged higher in early trading after Greece's political leaders pushed through a dr
Read moreLondon close: Stocks slip as Greek talks commence
8th Feb 2012 16:37
- Greek talks now underway in Athens. - Investors await policy decision by BoE tomorrow. - Reckitt leads risers after full-year results. The earlier optimistic mood in global equity markets soon faded as talks between Greek leaders commenced on Wednesday afternoon. The Footsie slipped towards the e
Read moreWednesday broker round-up - UPDATE
8th Feb 2012 09:22
Reckitt Benckiser: Nomura maintains buy rating and 3,900p target. BP: UBS ups target from 500p to 525p, buy recommendation unchanged; Nomura keeps neutral rating and 500p target. Xstrata: UBS lifts target from 1,450p to 1,500p, buy rating kept. BSkyB: AlphaValue upgrades from reduce to add, targe
Read moreLondon close: Losses pared ahead of Greek meeting
7th Feb 2012 16:35
-Greek talks enter critical stage. -Shareholders raise questions over terms of Glencore/Xstrata merger. -Defensives in demand as investors flee from risk. Losses were trimmed by the end of trade on Tuesday with reports pointing to progress being made in Greece. Government leaders and international
Read moreBroker tips: BP, Cairn, Amlin
7th Feb 2012 13:00
Nomura has reiterated its neutral rating and 500p target for oil titan BP saying that while the 14% increase in the quarterly dividend is welcome, the Macondo oil settlement remains 'the elephant in the room'. Adjusted replacement cost operating profit came in at $4,986m, above both consensus and N
Read moreLondon midday: Footsie at day's worst levels on worries over Greece, China
7th Feb 2012 11:49
- Shareholders raise questions with terms of Glencore/Xstrata merger. - BP predicts flat underlying production in 2012. - Greek talks enter critical stage. UK stocks sank further into the red by midday with worries over Greece and China - as well as an early blow to the Glencore-Xstrata merger - we
Read moreBroker snap: Nomura keeps neutral rating for BP
7th Feb 2012 11:19
Nomura has reiterated its neutral rating and 500p target for oil titan BP saying that while the 14% increase in the quarterly dividend is welcome, the Macondo oil settlement remains 'the elephant in the room'. Adjusted replacement cost operating profit came in at $4,986m, above both consensus and N
Read moreTuesday broker round-up - UPDATE
7th Feb 2012 10:14
Shire: Goldman Sachs reiterates 'conviction buy.' Misys: Berenberg Bank downgrades to hold from buy. BP: Nomura maintains neutral rating and 500p target. Cairn: UBS ups target from 291p to 370p, neutral rating kept; Credit Suisse ups target from 357p to 369p, neutral rating kept. Rio Tinto: Cred
Read moreLondon open: Miners tank in early trade
7th Feb 2012 08:35
A fall in the mining sector outweighed a strong showing by oil stocks as the Footsie slipped in early trading. Eyes will again be on Greece with as the meeting between Prime Minister Lucas Papademos and the country's three main political parties, originally scheduled for yesterday, is due to take p
Read moreLondon pre-open: Flat start for FTSE 100
7th Feb 2012 07:22
City sources predict the FTSE 100 will open up three points from yesterday's close of 5,892, as ongoing talks in Greece continue to test investor patience. Having announced their engagement Anglo-Swiss commodities firms Glencore and Xstrata have finalised terms of the dowry of their marriage of e
Read moreBP hikes divi as profits jump - UPDATE
7th Feb 2012 07:02
Oil titan BP has announced a 14% increase in its quarterly dividend to eight cents per share, the first rise since the company resumed payouts a year ago, in the hope that it can put the 2010 Gulf of Mexico (GoM) oil spill behind it. The company announced that replacement cost (RC) profit (excludi
Read moreTuesday preview: BP and Xstrata
6th Feb 2012 17:16
With Royal Dutch Shell's results out of the way, attention turns to its perennial rival, BP, which issues a fourth quarter update on Tuesday. Broker Charles Stanley thinks fourth quarter net income will be $4.8bn, down from $5.2bn the year before. The controversial oil leviathan outlined a 10-poin
Read moreMonday broker round-up - UPDATE
6th Feb 2012 09:12
Supergroup: Oriel Securities upgrades to buy from hold. Glencore: Jefferies ups target from 525p to 575p, confirms buy rating; Credit Suisse maintains outperform rating and 550p target. Royal Dutch Shell: Credit Suisse downgrades from outperform to neutral, cuts target from 2,750p to 2,600p. Xst
Read moreWeek Ahead: BP, Xstrata and quantitative easing
3rd Feb 2012 14:08
With Royal Dutch Shell's results out of the way, attention turns to its perennial rival, BP, which issues a fourth quarter update on Tuesday. Broker Charles Stanley thinks fourth quarter net income will be $4.8bn, down from $5.2bn the year before. The controversial oil leviathan outlined a 10-point
Read moreNamibia approves Chariot's farm-out with BP
2nd Feb 2012 08:11
A subsidiary of Chariot Oil and Gas has received regulatory approval for its farm-out agreement with sector giant BP in block 2714A offshore Namibia. The agreement between Enigma Oil and Gas Exploration and BP, first announced on August 8th 2011, has now received full approval from the Ministry of
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