Broker tips: Centrica, Amlin, House-builders
21st Nov 2011 12:56
Investec has reiterated its buy rating on British Gas owner Centrica after the energy giant's announcement of "major moves in the gas market". "We believe that these are good moves that will underpin Centrica's position on both the Upstream and Downstream side," said Investec analyst Angelos Anasta
Read moreLondon midday: Global concerns spark mass sell-off
21st Nov 2011 12:13
After a steep sell-off early on, the FTSE 100 traded sideways in the morning session and remained firmly below the 5,300 level, registering triple-digit losses, as of midday. Stocks markets across Europe suffered falls of between 2% and 3%, while US futures were also pointing to sharp decline, as ne
Read moreDigital Look broker talk
21st Nov 2011 12:09
Centrica: "Centrica has today announced major moves in the gas market. We believe that these are good moves that will underpin Centrica's position on both the Upstream and Downstream side" [Investec]. Phoenix Group: "Any takeover of Phoenix would also represent the hope that more cash could be sque
Read moreBroker snap: Investec rates Centrica as a buy
21st Nov 2011 12:01
Investec has reiterated its buy rating on British Gas owner Centrica after the energy giant's announcement of "major moves in the gas market". The company announced on Monday that it has agreed to buy producing and development gas and oil assets from Statoil Petroleum for $1,525m (£965m), which are
Read moreLondon open: Footsie sinks to 5,300 early on
21st Nov 2011 08:28
The Footsie sunk towards the 5,300 level in early trading with worrying economic news from Asia weighing on sentiment. Also impacting market sentiment negatively, reports that a U.S. congressional super-committee may have failed to reach an agreement on which budget deficit reduction measures are ne
Read moreMonday broker round-up - UPDATE
21st Nov 2011 08:23
RBS: Banco Espirito Santo lowers to neutral, cuts target to 22p from 51p. Centrica: Investec puts target price under review, buy rating unchanged. Capita: Credit Suisse cuts target from 780p to 770p, outperform rating kept. Capital Shopping Centres: Seymour Pierce maintains reduce stance and 324
Read moreLondon pre-open: Asian fears to prompt early sell-off
21st Nov 2011 07:20
City sources are expecting the FTSE 100 to open down 42 points this morning from Friday's close of 5,363, as fears over the global economy are fueled by worrying news from Singapore and Japan. Japan's Ministry of Finance revealed that exports fell by an annual rate of 3.7% last month, the first de
Read moreCentrica in £13bn tie up with Statoil
21st Nov 2011 07:02
Centrica, the company which owns British Gas, has signed a deal with the Norwegian company Statoil to buy £13bn worth of gas over ten years. The deal, which will run from 2015 will provide the UK with 50bn cubic metres of gas or the equivalent of 5% of total UK demand. In a separate transaction, C
Read moreSector movers: Falling copper price hits industrial metals stocks
17th Nov 2011 16:15
With metals prices taking a hit on euro fears, the industrial metals and mining sector was the worst performer of the day. Three-month copper on the London Metal Exchange fell to $7,584 a tonne in the afternoon, down from $7,730 at yesterday's close, as investors showed concerns that the escalating
Read moreLondon open: Retailers dip as consumer confidence dives
17th Nov 2011 09:07
After yesterday's shake-out on Wall Street, London's blue-chips are mostly lower, though trading updates have generated some bright spots. Centrica, which trades under the British Gas brand, is not one of the those bright spots, after it warned that full-year earnings will be a bit lower than the m
Read moreCentrica issues profit warning as it feels the heat
17th Nov 2011 07:34
The latest update from energy provider Centrica suggests that every silver lining has a cloud, as the company warned that the recent warm spell in the UK will hit full-year earnings. The company, which operates under the British Gas and Scottish Gas brands, said full-year earnings may be marginally
Read moreLondon pre-open: Centrica not enjoying warm spell
17th Nov 2011 07:29
Stocks are set to drift lower at the outset as the market absorbs yesterday's gloomy report from the Bank of England. City sources predict the FTSE 100 will open down 24 points from yesterday's close of 5,509. Centrica, which trades under the British Gas brand, warned that full-year earnings will
Read moreThursday newspaper round-up: City jobs, Retail sales, British Gas
17th Nov 2011 06:59
BNP Paribas, Merrill Lynch and Nomura became the latest major banks to announce job cuts on Wednesday as falling revenues forced them to follow several rivals and shed staff.(...) BNP Paribas said it would cut about 1,400 jobs in its investment banking division, which employs several thousand staff
Read moreLondon open: Footsie up as Eurozone fears ease
11th Nov 2011 08:21
London's blue chips were on the rise in the opening minutes following on from moderate gains seen on Wall Street last night and in Asian markets this morning. News of a new national unity government in Italy and the revealing of a new Greek prime minister has calmed fears slightly elsewhere in the E
Read moreLondon pre-open: Moderate gains expected
11th Nov 2011 07:17
The Footsie is expected to open up moderately higher following on from moderate gains seen on Wall Street last night and in Asian markets this morning. City sources predict that the FTSE 100 will open up around 38 points from yesterday's close of 5,445. The blue chip index is looking for a quick c
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