London close: Footsie dampened by European debt fears
12th Jul 2011 16:31
The ongoing euro crisis weighed heavily on stock markets in Europe and the UK as investors continued to fret over sovereign debt contagion spreading to Italy, Europe's third largest economy. However, after a steep decline early on, things calmed down slightly after it was announced that Italy sold
Read moreFTSE 100 movers: ARM pulls blue chips lower
12th Jul 2011 16:04
Chip maker ARM was the biggest faller after figures from US peers Microchip Technology and Novellus came short of expectations. BSkyB was continuing its decline, a day after Rupert Murdoch withdrew his offer to spin-off Sky News in order to make his bid for the satellite broadcaster feasible. As s
Read moreVedanta raises stake in Cairn India to 28.5%
12th Jul 2011 09:19
Mining giant Vedanta has completed the first tranche of its purchase of Cairn Energy's Indian subsidiary, after acquiring an additional 10% stake for net proceeds of $1.36bn in cash. Following the purchase of 191,920,207 shares on Monday, Vedanta upped its stake in oil firm Cairn India to 28.5%. C
Read moreFTSE 100 movers: Cairn not home and dry yet
4th Jul 2011 15:55
Real estate investment trusts are wanted, led by British Land, which is higher on the back of a "buy" recommendation from Deutsche Bank. The German bank thinks British land is set for a surge in the growth of it net asset value (NAV). Broker Killik has also pitched in with an upbeat note on the se
Read moreCairn India match moves into its final set
1st Jul 2011 07:15
Things tend to move at a slower pace in India but for Cairn Energy, the long wait for government approval of its sale of its Indian oil fields to Vedanta Resources is almost over. It only took ten and a half months for the Indian authorities to make up their minds ... At the beginning of the week
Read moreFriday tips round-up: Greene King, Cairn, Hampson
1st Jul 2011 06:30
While Greene King's retail estate of 915 pubs remains the driver thanks to sizzling food sales, its brewing business and 2,400 tenanted pubs are also outpacing rivals. Greene King's skill at increasing sales while mitigating cost rises has kept the cash flowing, allowing it to lift the divdend for t
Read moreFriday newspaper round-up: Vedanta/Cairn, SFO, Paul Fisher, broadband spat
1st Jul 2011 06:04
India's Cabinet has finally given the go-ahead for London-listed mining company Vedanta Resources to take over Cairn Energy's prized India assets, nearly 11 months after the two companies first announced plans for the $9.6bn deal. However, New Delhi will require Cairn India's new owner to take on mo
Read moreFTSE 100 movers: Autonomy leads the decline
16th Jun 2011 14:12
Just three stocks are making gains, with WPP, Capita and Vodafone edging slightly higher. Meanwhile, Autonomy is the worst performer on the blue chip index, losing over 4%. Engineering peers GKN, IMI and Weir are also lower. The miners are lower today, as global growth fears dampen the markets. Lo
Read moreBoard overhaul at Cairn
16th Jun 2011 07:46
The end of an era is imminent at oil firm Cairn Energy as chairman Norman Murray is set to step down from the board at the beginning of July, with current chief executive Sir Bill Gammell moving up to replace him. Simon Thomson, currently the Legal and Commercial director of Cairn, will succeed Gam
Read moreLondon close: Glencore drags Footsie 1% lower
15th Jun 2011 16:39
The blue chip index slipped further into the red on the back of a poor start on Wall Street as economic data disappointed. US May consumer price index came in ahead of forecasts, rising 0.2%. While the Federal Reserve Bank of New York manufacturing sector index fell to a reading of -7.79, from 11.9
Read moreSaudi businesswoman opens WPP account
7th Jun 2011 16:08
Non-executive director Lubna Olayan has opened her account in the advertising and marketing giant WPP. The Saudi businesswoman took 10,000 shares 738.5p a pop, paying a total of £73,850. Olayan, the daughter of entrepreneur Sulaiman Olayan, has been with WPP since 2005. In an update last week,
Read moreLondon close: Footsie recovers after steep fall
3rd Jun 2011 16:40
After a steep decline after lunch - on the back of a poor start on Wall Street - the Footsie recovered to finish above water, albeit only by around 0.1%. US economic data fuelled a brief sell-off just before 2pm after some much weaker than expected jobs data. Just 54,000 new jobs were added in the
Read moreFTSE 100 movers: Autonomy tops the risers
3rd Jun 2011 15:49
Data search group Autonomy is the top riser in the FTSE 100 after completing the $380m acquisition of assets from Iron Mountain. WPP, the advertising giant, is heading higher after acquiring a 70% stake in Grïngo Publicidade, a leading digital agency in Brazil. Making moderate gains is satellite
Read moreLondon open: Modest gains for FTSE 100
3rd Jun 2011 08:33
Stocks have moved tentatively higher following some hefty losses lately, though there could be some excitement later in the day when US jobs figures are released. Oil firm Cairn Energy has got cracking on its West Greenland offshore drilling campaign, with drilling commenced on two wells. With su
Read moreLondon pre-open: Modest gains anticipated
3rd Jun 2011 07:35
London is set to claw back some of yesterday's losses, but with traders keeping their powder dry until this afternoon's US non-farms payrolls data, volumes are expected to be low. City sources predict the FTSE 100 will open up 26 points from yesterday's close of 5,848. Oil firm Cairn Energy has g
Read more