Tullow takes massive write-down as profits halve in 2014
15th Jan 2015 07:11
Tullow Oil said write-offs and impairment charges for 2014 would total billions of dollars after profits more than halved last year due to the collapse in crude prices. In a pre-closing trading update on Thursday, the exploration and production company said it expects to write down $1.6bn of assets,
Read moreFTSE 100 movers: Miners plummet as copper hits five-year low, oil companies continue south
14th Jan 2015 13:52
Mining stocks fell across the board though those exposed to the copper sector were hit the hardest after copper prices fell to five and a half year lows to $5,353.25 a metric ton. Antofagasta and Anglo American fared badly, but Glencore fared the worst, falling over 11% to a new record low. On
Read moreLondon close: Retailers provide a lift as inflation data boosts economic hopes
13th Jan 2015 16:48
UK stocks put in decent gains on Tuesday as a sharper-than-expected slowdown in inflation boosted hopes for consumer spending and pushed back projections for the first rate raise. A strong start to corporate earnings season in the States and increased hopes for further stimulus by the European Centr
Read moreFTSE 100 movers: Morrison boosted after axing CEO as grocers dominate risers
13th Jan 2015 13:46
The share price of supermarket group Wm Morrison jumped 5% on Tuesday following the news that chief executive Dalton Philips has been axed after the company delivered the worst Christmas performance of the Big Four. Like-for-like (LFL) sales excluding fuel fell 3.1% in the six weeks to 4 January.
Read moreLondon midday: Retailers rise, housebuilders boosted as UK inflation rate drops
13th Jan 2015 12:08
A sharp drop in the UK inflation rate and well-received updates from a number of Britain's retailers gave London stocks a boost on Tuesday. The FTSE 100 was trading up 0.6% at 6,539 just after midday with retailers and housebuilders offsetting ongoing weakness in the resources sector. Markets were
Read moreLondon open: Retailers boost market ahead of inflation data, Morrison jumps
13th Jan 2015 08:57
Well-received updates from a host of retailers were giving UK stock markets a boost on Tuesday morning, as investors awaited some key inflation data. The FTSE 100 was up 0.2% at 6,514 early on with Wm Morrison leading the rise. Data due out at 09:30 is forecast to show that the annual rate of consu
Read moreSector movers: Energy stocks tank as oil prices continue to tumble
12th Jan 2015 15:21
Another tumble in the price of oil knocked stocks in the energy sector on Monday with investors concerned that the continued decline in crude prices will continue, while producer Afren lost over a quarter of its value after a disappointing project update. Brent crude was down 4.7% at $47.75 a barrel
Read moreLondon close: UK stocks sink 2% on Greek exit fears, oil-price plunge
5th Jan 2015 16:45
Concerns about the Greek crisis and continuing downwards pressure on oil prices drove London's stock market 2% lower on Monday, with investors scaling back their appetite for risk ahead of a busy week. The FTSE 100 finished the session down 130.64 points at 6,417.16, its lowest close since 17 Decemb
Read moreSector movers: Resource stocks drop as crude prices sink
5th Jan 2015 15:53
Stocks in the resource sectors dropped sharply on Monday as shares tracked commodity prices lower, with oil and copper prices extending multi-year lows. Oil producers such as Shell, BP, Tullow Oil, Premier Oil and Afren were trading with heavy losses. Energy services stocks were also under pressure,
Read moreFTSE 100 movers: Travel stocks gain, resource shares drop
5th Jan 2015 15:03
The travel sector was booming on Monday as oil prices continued to fall. Carnival, International Consolidated Airlines Group and EasyJet were among the best performing members of the FTSE 100. Randgold Resources and Fresnillo were on the rise as gold and silver prices increased. Gold was up for the
Read moreLondon midday: Resource stocks drag FTSE 100 into the red
5th Jan 2015 11:36
UK stocks were trading firmly in the red by Monday lunchtime despite a positive start, with shares in the oil and mining sectors providing a drag. London's FTSE 100 was down 0.9% at 6,489 by midday, dropping sharply after reaching a high of 6,576.74 early on. This week will be the first full tradin
Read moreFTSE 100 movers: Energy stocks hit by drop in crude, Lloyds boosted by upgrade
2nd Jan 2015 14:22
Sainsbury was trading lower as hedge funds forecast that the supermarket group would be damaged by the grocery industry's escalating price war. Lansdowne Partners, Odey Asset Management and Marshall Wace all blamed the growing popularity of discounters Aldi and Lidl, who would hit profitability by f
Read moreLondon midday: Stocks trim gains ahead of early finish on NYE
31st Dec 2014 11:25
UK stocks had pared gains by midday but were still trading marginally in positive territory heading into the close on a shortened New Year's Eve session. The FTSE 100 was up 0.05% at 6,551 by noon on the last trading day of the year, but looks set to finish December down 2.6% - its worst December in
Read moreLondon midday: UK stocks slip as Greek uncertainty hits sentiment
30th Dec 2014 11:19
Uncertainty in Athens and falling oil prices were weighing heavily on UK stocks on Tuesday, with London's FTSE 100 snapping an eight-day winning streak. The FTSE 100 was down 0.9% at 6,576.11 after hitting a three-week high the previous session. Greek politics were in focus for those traders return
Read moreLondon open: UK stocks retreat from three-week high on Greek politics, oil prices
30th Dec 2014 08:26
Political uncertainty in Greece and falling oil prices were weighing on UK stocks on Tuesday as markets pulled back from a three-week high. The FTSE 100 was down 0.6% at 6,594 in early trading, snapping an eight-day winning streak. The index settled at 6,633.51 on Monday, its highest close since 8 D
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