London 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 moreLondon close: Stocks make modest gains in final session of 2014
31st Dec 2014 12:59
London shares finished the final session of 2014 on a positive note, but fell short of last year's closing mark amid lower oil prices and geopolitical turmoil. The FTSE 100 Index closed 19.09 points up at 6,566.09 in a shortened session due to New Year's Eve, down from the 6,749 it reached on the fi
Read moreLondon close: Falling oil prices drag down shares
30th Dec 2014 16:06
Oil stocks dragged London shares deep into the red on Tuesday after crude prices hit a five-and-a-half year low. The FTSE 100 Index closed 86.51 points adrift at 6,547 as the price of a barrel of Brent crude dropped below $57, although it later recovered slightly. The price of a barrel of US light
Read moreLondon close: Santa Rally continues as UK stocks rise for sixth straight day
23rd Dec 2014 16:51
UK stocks rose again on Tuesday as the Santa Rally continued into its sixth straight day, with markets boosted by some upbeat economic data from the States. Third-quarter US annualised gross domestic product (GDP) growth was revised to 5% from an initial estimate of 3.9%, representing the strongest
Read moreFTSE 100 movers: Centrica boosted by directorate change, oil and gas stocks strong
23rd Dec 2014 14:07
Centrica shares were boosted as the company appointed Carlos Pascual as a new non-executive director, who is said to have extensive geopolitical, economic and commercial development experience in the energy industry. "He brings a wealth of experience with his exceptionally strong international b
Read moreLondon midday: Stocks rise but gains pared after UK GDP data
23rd Dec 2014 11:56
UK stocks rose again on Tuesday as the pre-Christmas rally continued, though gains were trimmed by lunchtime after some disappointing data. On a day lacking of corporate news, investors were also showing caution ahead of a flurry of economic indicators Stateside. Stock futures on Wall Street were on
Read moreBroker tips: Weir Group, IAG, Greggs
15th Dec 2014 11:15
Even under the most bearish scenario, at current prices there is upside potential to engineering outfit Weir Group's share price, analysts at Deutsche Bank said in a note e-mailed to clients dated 12 December. The company has exposure to the drop in the oil price, given that it sells pressure pumps
Read moreDeutsche Bank initiates its coverage of Weir Group with a 'buy'
15th Dec 2014 09:33
Even under the most bearish scenario, at current prices there is upside potential to engineering outfit Weir Group's share price, analysts at Deutsche Bank said in a note e-mailed to clients dated 12 December. The company has exposure to the drop in the oil price, given that it sells pressure pumps
Read moreMonday broker round-up
15th Dec 2014 09:29
Ashtead Group: Berenberg raises target price from 1170p to 1345p and keeps its 'buy' recommendation. Aviva: Citi increases target price from 590p to 620p and maintains a 'buy' recommendation. Bellway: Deutsche Bank ups target price from 1760p to 1778p and reiterates its 'hold' recommendation. Berk
Read moreLondon close: FTSE sinks 2.5%, extends weekly decline to 6.6%
12th Dec 2014 16:38
UK stocks plummeted to levels not seen in nearly two months on Friday as weak global economic data and an ongoing sell-off of crude oil hammered market sentiment. The FTSE 100 settled at just 6,300.63 by the end of trade, down an eye-watering 2.5% on the day, with just four constituents on the index
Read moreFTSE 100 movers: Oil stocks track oil price lower
12th Dec 2014 15:15
Petrofac, Tullow Oil, BP, Shell and a host of stocks exposed to the oil price were suffering heavy losses on Friday. Oil and gas engineer Weir, however, was bouncing back after recent declines following an upgrade by Canaccord Genuity from 'hold' to 'buy'. The broker said the stock's valuation now l
Read moreBroker tips: Weir, Bellway, Spectris
12th Dec 2014 12:46
After the recent decline in Weir Group's shares on the back of the turmoil surrounding the oil price, the valuation of the engineering stock now looks "compelling", according to Canaccord Genuity. The broker upgraded its rating on the shares from 'hold' to 'buy', but slashed its target price from 2,
Read moreLondon midday: Stocks tumble as oil prices extend losses, data disappoints
12th Dec 2014 11:36
Weaker-than-expected data from across the globe and a continued plunge in oil prices meant that there was no let-up in the sell-off for UK equity markets on Friday. Stocks were falling for the fifth day straight, with shares in the oil and gas sector faring the worst. London's FTSE 100 was down a s
Read moreWeir's valuation now "compelling" after recent sell-off, Canaccord upgrades
12th Dec 2014 10:02
After the recent decline in Weir Group's shares on the back of the turmoil surrounding the oil price, the valuation of the engineering stock now looks "compelling", according to Canaccord Genuity. The broker upgraded its rating on the stock from 'hold' to 'buy', but slashed its target price from 2,7
Read moreBroker tips: BP, Whitbread, Oil engineering stocks
11th Dec 2014 12:18
Investec came away from BP's seminar this week with largely positive comments, saying that the oil major delivered a "confident upstream update" despite the recent sharp drop in oil prices to below $65 a barrel. However, the broker said that with uncertainties surrounding Russia and the continued fa
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