London 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
Read moreCentrica rebuffs Venture report
5th Aug 2009 16:36
Centrica said a report into bid target Venture Production 'lacks credibility' in a number of areas and that its final offer of 845p will not be increased. On Tuesday, Venture said consulting group Resource Investment Strategy Consultants (RISC) valued it at between 1,066p-1,385p per share. Venture
Read moreLondon close: Blue chips surge continues
30th Jul 2009 16:42
Corporate newsflow and resurgent miners sent Footsie to within a whisker of its highest close this year. Investors piled into blue chips after a string of household names reported earnings this morning. Triple-digit gains for the Dow added to the upward momentum in the afternoon. Telecoms giant
Read moreLondon afternoon: Miners push Footsie higher
30th Jul 2009 14:48
Corporate news-flow and resurgent miners are driving Footsie higher today, with the benchmark index adding to its gains over the lunch-time session. Telecoms giant BT racked up a double-digit percentage gain in the morning after quarterly figures that were not as bad as feared. EBITDA (earnings b
Read moreHouseholds pay for Centrica 's dividend hike
30th Jul 2009 11:56
Gas supplier Centrica refused to indicate if it will cut gas bills further despite soaring first half profits at its British Gas household arm, which helped to offset lower income elsewhere. British Gas, Centrica's residential arm, has been fiercely criticised by consumer groups for failing to cut
Read moreLondon midday: Footsie tops 4600
30th Jul 2009 11:54
Footsie has broken through the 4,600 barrier, helped by well received results from index heavyweight BT and strong demand for miners. Telecoms giant BT racked up a double-digit percentage gain in the morning after quarterly figures that were not as bad as feared. EBITDA (earnings before interest, t
Read moreLondon midday: Shares pause for breath
22nd Jul 2009 12:07
Leading shares are mixed, with losses on miners and banks offset by gains on defensive favourites such as tobaccos and utilities. Mining giant BHP Billiton set the tone for the sector with its annual production report this morning. Quarterly (Apr-Jun) production increased for 12 major commodities
Read moreTuesday newspaper round-up: House prices, Microsoft, Centrica
14th Jul 2009 06:16
Property values are set to rise in the next three months as a lack of homes props up prices, estate agents believe. The number of agents expecting house prices to increase in the coming months outnumber those predicting further falls for the first time since May 2007, according to figures publishe
Read moreLondon close: Bright finish for FTSE 100
13th Jul 2009 16:26
Footsie put a sluggish start behind it to finish with good gains, helped by a strong showing on Wall Street. Friends Provident was the best performer after Clive Cowdery's new vehicle, Resolution , said it has received "constructive feedback" from the board of Friends over its merger approach and i
Read moreLondon afternoon: Friends leads London higher
13th Jul 2009 14:32
Mergers and acquisition activity is keeping share prices bubbling as London makes a solid start to the week. Friends Provident is the best performer after Clive Cowdery's new vehicle, Resolution , said it has received "constructive feedback" from the board of Friends over its merger approach and i
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