Centrica 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
Read moreBroker tips: Lloyds, Friends Provident, Venture
13th Jul 2009 13:05
Reports in the Sunday Times that Lloyds Banking Group may report interim losses of £6.3bn are "entirely plausible", according to stockbroker Nomura. "The group itself has indicated it expects to be in loss for the year as a whole. It has also warned that corporate credit loss charges will be up to
Read moreBroker snap: Stingy Centrica bid may still succeed
13th Jul 2009 12:41
Having been given a "put up or shut up" deadline Centrica has decided to "put up" and launched a bid for Aberdeen-based oil and gas firm Venture Production at a level which may be enough to win the day. The energy giant is offering 845p per Venture share, a price which values the target company at
Read moreVenture investors agree Centrica offer 'too low'
13th Jul 2009 12:05
Shareholders owning almost 13% of Venture Production have backed the oil and gas firm's decision to reject an 845p-a-share hostile cash bid from Centrica. One of Venture's founders and owner of a 7.4% stake, Larry Kinch, thinks the shares are worth at least £10 each, while institutional shareholder
Read moreLondon midday: M&A activity perks up shares
13th Jul 2009 11:56
The blue-chip index edged higher in the morning sessions despite the weakness of miners and banks, with increased merger and acquisition activity encouraging buyers back to the market. Friends Provident is the best performer after Clive Cowdery's new vehicle, Resolution , said it has received "con
Read moreLondon open: Dull start to the week
13th Jul 2009 08:43
London's blue chips have made a slow start to the week despite a small burst of takeover activity. A deal could be on the cards between insurance group Resolution and Friends Provident after Clive Cowdery's new vehicle said it has received "constructive feedback" from the board of Friends over its
Read moreLondon pre-open: Losses on the cards
13th Jul 2009 07:37
Investors remain nervous following further losses on Wall Street Friday and as the US earnings season starts to hot up. Futures prices indicate an early deficit of about 14 points for the FTSE 100. Oil and gas firm Venture Production today rejected last Friday's 845p-a-share hostile cash bid from
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