London close: Stocks fall as 'fiscal cliff' deadline looms
17th Dec 2012 16:40
Increasing optimism surrounding budget talks between US politicians may have helped the FTSE 100 come off its intraday low, but the index was stuck firmly in negative territory with markets remaining nervous ahead of the January 1st deadline. Without a deal, the $600bn in automatic spending cuts a
Read moreFTSE 100 movers: Aggreko plummets on cautious outlook
17th Dec 2012 15:23
Temporary power and temperature control solutions group Aggreko plummeted on Monday after giving a gloomy outlook for next year, saying that its performance would likely be lower than the 2012. Investec downgraded its rating for the stock from 'buy' to 'hold' this morning, after the company said t
Read moreBP sells stake in Sean gas field to SSE for 288 million dollars cash
17th Dec 2012 09:36
BP has agreed to sell its interest in the Sean gas field in the UK North Sea to SSE for 288 million dollars in cash. The sale to SSE is taking place through SSE's wholly-owned subsidiary SSE E&P. The divestment comprises BP's non-operated 50% stake in Sean. Completion of the deal is anticipated dur
Read moreSunday newspaper round-up: BP, Thomas Cook, RBS
25th Nov 2012 17:40
BP has opened secret talks with Russia's state-owned energy giant Gazprom to help build a pipeline to bring vast quantities of gas into Britain by 2016. David Peattie, BP's director for Russia, said talks were at 'an early stage' but Financial Mail understands that David Cameron has given the thumb
Read moreLondon close: Footsie drops over one per cent after Rehn comments
14th Nov 2012 16:32
- Olli Rehn says Spain has taken 'effective action' - UK data mixed; BoE cuts growth forecast - Mining and oil stocks sold off The Footsie lost nearly one per cent on Wednesday as risk appetite waned after comments from Olli Rehn on Spain and concerns about the global economy brought out the bears.
Read moreFTSE 100 movers: AMEC rises to top spot as Evraz dives
14th Nov 2012 16:05
Engineering consultancy AMEC gained after saying it was trading in line with expectations despite ongoing economic uncertainty. The firm said mining activity was slowing, but conventional oil and gas activity remained strong, particularly in the North Sea and Gulf of Mexico. Shares in Centrica ros
Read moreSector movers: SSE sparks electricity stocks; GKN drags on autos
14th Nov 2012 13:49
Energy supplier SSE was making decent gains on Wednesday afternoon after its well-received first-half results, providing a lift to the electricity sector. The firm posted a 38% jump in profits in the first half as it immediately moved to offset a media storm over its hike in household bills last mo
Read moreLondon midday: Risk appetite drops as Eurozone crisis drags on
14th Nov 2012 11:35
- Eurozone in focus as general strikes hit periphery - BoE's King gives gloomy outlook for Q4 UK GDP - Resources firms provide a drag; AMEC jumps With general strikes taking place in Spain, Portugal, Greece and Italy today, concerns about the ongoing Eurozone crisis have reignited this morning, pus
Read moreLondon open: Stocks fall on global economic concerns
14th Nov 2012 08:24
- Stocks track US markets lower on fiscal cliff concerns - Spain said to be nearing bailout request - Banks fall after broker downgrades Concerns about the global economy took centre stage again on Wednesday morning, causing the Footsie to sink early on as general strikes take place in Spain, Portu
Read moreSSE buys bigger share in gas fields
14th Nov 2012 07:50
Energy firm SSE said it was paying £33m to buy a bigger share in three North Sea gas fields. The agreement with oil and gas independent Perenco will see SSE increase its equity stake in the Apollo, Minerva and Mercury fields in the Southern North Sea. SEE said the deal would increase its producing
Read moreSSE profits up and begins PR offensive
14th Nov 2012 07:17
Energy supplier SSE posted a 38 per cent jump in profits in the first half and immediately moved to offset a media storm over its hike in household bills last month. The firm pushed up its dividend 5% to 25.2p as earnings per share leapt 40.6% to 35.3p. In a move clearly meant to limit reputationa
Read moreMonday broker round-up -UPDATE
12th Nov 2012 09:03
Afferro Mining Inc: Investec retains buy recommendation and target price at 107p. Antrim Energy Inc.: Westhouse Securities keeps buy recommendation and target price at 70p. ASOS: Investec ups target from 2,450p to 2,675p, buy rating kept. Aveva: Investec keeps buy rating and 2,200p target. Bovis
Read moreSunday newspaper round-up: Royal Mail, Xstrata, Google
11th Nov 2012 13:54
Royal Mail will unveil a sharp jump in profits this week, accelerating plans for a privatisation next year that could raise 2bn pounds. Officials and bankers working on the sale say Tuesday's figures are the crucial test of whether the business will be ready for a float in the third quarter of 2013.
Read moreSSE completes purchase of Endesa Ireland
9th Oct 2012 16:30
Utility company SSE has completed the acquisition of Endesa Ireland from Spanish power provider Endesa Generacion. The €361m acquisition was announced back in June. SSE said it expects to stump up a further €137m (£110m) to complete a 460 megawatt (MW) combined cycle gas turbine currently under con
Read moreMonday broker round-up - UPDATE
8th Oct 2012 08:03
AMEC: Investec keeps buy rating and 1,300p target. Aquarius Platinum: Panmure Gordon keeps buy rating and 163p target. BAE Systems: Societe Generale upgrades to hold, target lifted from 300p to 350p. British American Tobacco: Nomua raises target from 3,500p to 3,506p, buy rating kept. BSkyB: Nom
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