London pre-open: Drab start expected
28th Oct 2009 07:42
London is set to open moderately lower, though traders will be kept busy analysing a slew of big corporate announcements. BG Group has reported a drop in third quarter pre-tax profit to £838m from £1.53bn a year ago, with nine-month profit down to £3bn from £4.20bn. The oil giant said net income fe
Read moreUS firm invests in Centrica's wind farms
28th Oct 2009 07:05
Gas supplier Centrica has received planning permission for the construction of a wind farm project off the coast of Lincolnshire. The 270 megawatt offshore wind farm has received final investment approval, and construction work on it will start in 2010. It will be situated eight kilometres offsho
Read moreSunday newspaper round-up: Lloyds, Stagecoach, National Express
25th Oct 2009 11:42
Lloyds will announce within days a controversial £23bn fundraising that will bolster its balance sheet and finally repair the damage caused by its disastrous takeover of rival HBOS, according to the Sunday Times. Stagecoach is putting the final touches to bank financing ready to launch a takeover b
Read moreDealings round-up: BlueBay duo cash in
18th Sep 2009 17:26
Two directors of BlueBay today took advantage of the recent tripling in its share price to trim their holdings in the fixed income fund manager. A secondary placing of shares saw Nick Williams, Chief Financial Officer, sell 1m shares and Alex Khein, Chief Operating Officer dispose of 2m shares. Th
Read moreLondon afternoon: Footsie consolidates gains
16th Sep 2009 14:30
The number of FTSE 100 constituents in the red today is in single figures as investors chase up share prices in the wake of relatively upbeat comments from Federal Reserve Chairman Ben Bernanke last night. Bernanke said the US recession 'is very likely over at this point,' prompting an advance by gl
Read moreSector movers: Brighter economic outlook lifts miners
16th Sep 2009 12:33
Mining stocks are advancing on optimism an improvement in global economic conditions will fuel demand for raw materials. Sentiment was lifted by US Federal Reserve chairman Ben Bernanke who said the world's largest economy had 'very likely' come out of recession. ENRC, Rio Tinto, Xstrata and Lonm
Read moreLondon midday: Footsie breaks through 5100
16th Sep 2009 11:58
Leading shares rose steadily throughout the morning session pushing the FTSE 100 index through the 5100 barrier. Mining stocks are responsible for much of the rise as metals prices head north after Federal Reserve Chairman Ben Bernanke said the US recession 'is very likely over at this point' in a s
Read moreVenture buckles and accepts Centrica offer
25th Aug 2009 13:57
Oil and gas producer Venture Production has finally accepted defeat in its bid to stave off Centrica's £1.3bn hostile bid. The group said it continues to believe the 845p a share offer still "substantially undervalues" the group but shareholders should accept if the offer goes unconditional, as Cen
Read moreLondon close: Stocks finish ahead
24th Aug 2009 16:23
London's leading shares have finished the day with comfortable gains as miners and banks stole the limelight. Mining giant Rio Tinto is reportedly in talks with the Aluminium Corporation of China (Chinalco) over co-operation in bauxite and alumina production. The Australian Financial Review newspap
Read moreLondon afternoon: Centrica claims victory
24th Aug 2009 14:33
The Footsie regained some of its momentum over the lunch-time session, helped by expectations of a firm start on Wall Street. Centrica is wanted after it declared victory in its battle to take over Venture Production. The British Gas owner bought another 8.4% of Venture shares this morning, taking
Read moreLondon midday: Footsie backs off from 4900
24th Aug 2009 12:06
London's blue-chips are off the top but still predominantly in the blue. Strong miners and financials helped push the FTSE 100 index above 4900 shortly before 11:00am but this just encouraged profit-takers to make their move. Advertising firm WPP was the morning's best performer ahead of results o
Read moreCentrica takes majority stake in Venture
24th Aug 2009 10:56
Energy giant Centrica said it has acquired or received acceptances for 50.3% of North Sea oil-and-gas group Venture Production. The British Gas owner bought another 8.4% of Venture shares this morning, taking its holding to 40.1%. It has already received acceptances for a further 10.2%, giving it
Read moreSunday newspaper round-up: Lloyds, Betfair, Johnston Press
23rd Aug 2009 12:35
Sir Win Bischoff, the incoming chairman of Lloyds Banking Group, is facing pressure to clear out the boardroom. Investors are telling him to beef up the banking experience on the board in the wake of its catastrophic takeover of HBOS, which has already claimed the scalp of outgoing chairman Sir Vict
Read moreSector movers: Centrica lifts utility sector despite brush-off
21st Aug 2009 11:11
Centrica is among the stocks lifting the gas, water and multi-utilities sector higher. The energy company shares are higher even though the Aberdeen-based oil and gas firm urged its shareholders to reject Centrica's 845p-a-share offer for the group. National Grid is the best performer in the sec
Read moreVenture urges shareholders not to sell "cheap"
14th Aug 2009 17:36
Venture has continued to urge its shareholders to reject Centrica's 845p per share offer, urging them not to sell their shares "on the cheap." The Aberdeen-based oil and gas firm made the comments after Centrica announced late yesterday that it had received 48% acceptances from shareholders and ha
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