London midday: Profit takers move in
2nd Jun 2009 11:55
Profit taking was the theme of the morning as investors reduced equity exposure after yesterday's sharp rise while Barclays tumbled on the revelation that Abu Dhabi's International Petroleum Investment Company (IPIC) is to bank profits on its Barclays stake. Barclays is nursing a double-digit perce
Read moreLondon open: Barclays divestment sinks Footsie
2nd Jun 2009 08:33
London has opened lower in the wake of the decision by Abu Dhabi's International Petroleum Investment Company to bank profits on its Barclays stake. Barclays is down by 13%. Khadem Al Qubaisi, managing director of IPIC, adding that the sale did not represent a lack of faith in Barclays, its managem
Read moreLondon pre-open: Sale of Barclays stake dampens mood
2nd Jun 2009 07:41
Despite the strong showing by Wall Street overnight London is set to open lower in the wake of the decision by the International Petroleum Investment Company (IPIC) to bank profits on its Barclays stake. City sources expect the FTSE 100 will open around 16 points lower than the previous close of 4,5
Read moreCentrica buys stake in Trinidad gas block
2nd Jun 2009 07:11
Gas supplier Centrica took another step in its plan to reduce its dependence on the wholesale markets by agreeing to buy a stake in a gas development block in Trinidad. Centrica has signed an agreement with Canadian Superior Energy under which Centrica could buy up to a 45% stake in gas development
Read moreLondon close: Footsie buoyed by global rally
1st Jun 2009 16:35
London's top stocks finished with stellar gains as optimism about the global economy boosted markets worldwide. Hopes of a recovering economy pushed forward commodities. Oil is near $68 per barrel, while copper climbed to $5,000 per tonne, its highest since October. Gold rose to $985 an ounce. C
Read moreVenture pleased with Cara test results
20th Mar 2009 07:34
Aberdeen based oil and gas firm Venture Production hailed "another excellent drilling result" as it published test drilling results from its Carna gas property. Well log data indicates a gas column in excess of 1490 feet TVD (true vertical depth) and net pay of 127 feet TVD. The well tested gas at
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