London close: Stocks down on Greek concerns
24th Jan 2012 16:41
- Banks sold off as Greek talks continue. - S&P downgrades three French banks. - IMF cuts world GDP growth forecast. UK stocks were off their intraday lows but still finished firmly in the red on Tuesday, with global markets in negative territory as European leaders continue to argue over Greece
Read moreFTSE 100 movers: Banks dip lower
24th Jan 2012 13:04
Banks are leading the way lower as investors feel the waves of worry over the ongoing Greek talks and the impact of the downgrades on three French banks. Lloyds became the biggest faller after losing more than 5%, closely followed by RBS and Barclays. Shares in the latter have taken a hit from a n
Read moreLondon midday: Banks drag Footsie lower
24th Jan 2012 11:44
- Banks sold off as Greek talks continue. - S&P downgrades three French banks. - Defensives in demand. The banks had dragged London's blue chip index to its lowest levels of the day by lunchtime as eyes continued to be fixed on the Eurozone. While the attention seems to be mostly on Greece, the d
Read moreLondon open: Cairn, financials weigh on Footsie
24th Jan 2012 08:32
UK stocks fell in early trading on Tuesday, giving up some gains made yesterday, as talks in Greece continue to drag on. Despite banks and other private institutions represented by the Institute of International Finance (IIF) having presented yesterday what they considered to be their "maximum offe
Read moreCairn backs down after pay revolt
24th Jan 2012 07:20
Cairn Energy has withdrawn its proposal to give its non-executive Chairman, Sir Bill Gammell, share options worth £2.5m. The award was first suggested in a circular to shareholders on January 10th as part of Sir Bill's reward package for securing the sale of a controlling stake in Cairn India last
Read moreLondon midday: Stocks extend gains, RBS and IAG on the rise
23rd Jan 2012 11:46
- Markets await news from Greece. - Lagarde warns of "1930s moment"; - RBS rises on rumours of CEO waiving bonus. London's benchmark index had extended gains by midday with the market showing their optimism as investors awaited news from Greece. US stock futures were also pointing to a positive sta
Read moreBroker snap: Rockhopper still a buy as takeover speculation continues
23rd Jan 2012 10:28
Merchant Securities has reiterated its buy stance on Rockhopper Exploration as rumours continue to 'do the rounds' in relation to possible buyers of the Falklands-focused oil and gas group. At the weekend, the Sunday Times said that US firm Anadarko Petroleum Corp is mulling over whether or not to
Read moreLondon open: Footsie rises with Greece in focus
23rd Jan 2012 08:36
UK stocks rose on Monday with hopes that Greece can reach a deal with its bondholders boosting sentiment early on. The Institute of International Finance (IIF) seems to have hardened its stance in its negotiations with Greece. Charles Dallara, theManaging Director of the IIF, the body which is neg
Read moreCairn does Greenland deal, may face competition on Rockhopper
23rd Jan 2012 07:04
Edinburgh-based explorer Cairn Energy is to partner with Statoil ASA to help exploit the Pitu block in the Baffin Bay Basin, west of Greenland. However, the firm offered no clue as to whether a tie-up with Rockhopper was on the cards in its trading update. Recent reports claim Cairn has held talk
Read moreCairn in talks with one party over farm-out agreement in Greenland
16th Jan 2012 16:50
Oil production and exploration group Cairn Energy raised hopes last week that it is making progress in finding a partner for its Greenland exploration prospect. At an industry conference hosted by Macquarie Cairn's deputy chief executive, Mike Watts, said that the group was in talks with one party
Read moreLondon close: Muted reaction to S&P as Footsie rises 0.4%
16th Jan 2012 16:29
The market reaction to S&P's mass downgrade of nine Eurozone nations was fairly muted on Monday, with the Footsie finishing at its highest levels of the day, as many argue that the downgrades of France and Austria (both rated AAA previously) were already priced in. Meanwhile, the results of the late
Read moreFTSE 100 movers: Carnival falls after cruise ship crash
16th Jan 2012 14:22
Big news on the FTSE 100 today was cruise operator Carnival, which fell 17% after one of its ships grounded off the coast of Italy at the weekend. The company said that the cost of not having the Costa Concordia in service will be between $85m and $95m. The stock was not helped by a downgrade from M
Read moreLondon midday: Footsie flat as markets digest S&P move
16th Jan 2012 11:54
After a stint in the blue, and the red, the Footsie was trading flat by midday on Monday, as the markets digested the S&P move to downgrade nine Eurozone countries on Friday evening. Eyes are on France as the nation looks to issued €8.7bn in government debt today. Standard & Poor's (S&P) "finally"
Read moreRockhopper up on Cairn takeover rumours -UPDATE
16th Jan 2012 11:01
Rockhopper Exploration, the Falkland Islands focused oil and gas company, has risen this morning on rumours of a possible takeover by Cairn Energy. The Sunday Times reported yesterday that cash rich Cairn, which made billions by developing fields in India, is interested in taking over Rockhopper's
Read moreBroker snap: Buy Rockhopper on Cairn takeover rumours
16th Jan 2012 09:48
Merchant Securities remains a buyer of oil and gas firm Rockhopper Exploration following speculation that sector peer Cairn Energy could launch a takeover bid. The Sunday Times reported that Rockhopper is looking for a partner to share development costs for its Falkland Island assets, with reports
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