FTSE 100 movers: Essar surges after increasing resource estimates
23rd Jan 2012 15:10
The share price of India-focused integrated energy company Essar Energy increased by over a tenth on Monday afternoon after the firm increased its best estimate contingent resources at the Raniganj coal bed methane exploration block. Total proven and probable reserves at the block came in at 113bn
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 moreMonday broker round-up - UPDATE
23rd Jan 2012 09:26
BAE Systems: Barclays Capital upgrades to overweight from neutral. Weir: JP Morgan downgrades to neutral from overweight. Royal Dutch: ING initiates coverage at buy. IMI: UBS downgrades from buy to neutral, target cut from 950p to 900p. Renishaw: UBS upgrades from neutral to buy, target hiked
Read moreWeir off on broker downgrade and depressed natural gas prices
23rd Jan 2012 09:22
Industrial engineering group Weir is today again one of the worst performers in the FTSE 350, in an apparent reaction to a negative research note out from JP Morgan Cazenove. JP Morgan analysts have today lowered their view on Weir to neutral, citing uncertainty about the near-term development i
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 moreSector movers: Vodafone lifts telecoms, oil stocks drop
20th Jan 2012 17:07
Vodafone was lifting the mobile telecommunications sector higher today. The telecoms titan rose on reports that the Indian Supreme Court has overturned an earlier tax-ruling against it from a lower court. The long-running battle centres around a $2.5bn (£1.3bn) tax bill relating to its 67% intere
Read moreLondon close: Oil stocks weigh on FTSE 100
20th Jan 2012 17:03
- Oil stocks track prices lower. - Chinese manufacturing disappoints. - Greek talks ongoing, sides close to a deal. UK stocks finished Friday's session down an average 0.2% with oil stocks providing a drag on the FTSE 100, tracking oil prices lower. The blue chip index swung between gains and loss
Read moreFTSE 100 movers: RBS up on news of ECB loan
20th Jan 2012 14:05
Shares in RBS rose on news the part-nationalised lender, which is 84% owned by taxpayers, last month borrowed emergency funds offered by the European Central Bank through its long-term refinancing operations (LTRO). It means that the lender can avoid the need to sell-off assets to meet heightened sh
Read moreLondon midday: Footsie unchanged, RBS leads risers
20th Jan 2012 11:57
- Greek talks still in progress. - RBS taps ECB emergency facility. - Vodafone up on Indian tax ruling. The Footsie was rather flat at midday, after swinging between gains and losses in the mid-morning session. Neverthess, the blue chip index was trading within a narrow range with just 26 points se
Read moreLondon close: Financials lead the way higher
15th Dec 2011 16:56
Footsie limped back above the 5,400 level in thin trade, with financial stocks leading the way. OLD MUTUAL SURGES AFTER DISPOSAL South African savings and insurance group Old Mutual was the best performing blue-chip after announcing that it is to sell its Nordic business Skandia AB for £2.1bn in
Read moreFTSE 100 Movers: Old Mutual jumps into first place
15th Dec 2011 14:36
Old Mutual, the savings and investment group, leapt into the top spot on news it is to sell its Nordic business Skandia AB for £2.1bn in an effort to "reduce complexity" and pay down debt. The deal, which still needs regulatory and shareholder approval, is expected to complete during the first quar
Read moreLondon midday: Old Mutual and miners provide a lift
15th Dec 2011 11:46
The Footsie held on to gains by lunchtime, breaking through the 5,400 level, with strong gains for Old Mutual and the miners lifted London's blue chip index 0.6% higher. In domestic news, the volume of UK retail sales fell by 0.4% in November compared to the month before, according to the latest da
Read moreLondon open: Footsie nudges higher, Old Mutual rockets
15th Dec 2011 08:25
The Footsie opened moderately higher on Thursday morning, as the market attempts to claw back from yesterday's 2.25% sell-off. In economic news, the HSBC "flash" purchasing managers' index for the Chinese manufacturing sector rose to 49.0 in December from 47.7 the month before, according to the la
Read moreWeir completes Seaboard acquisition
15th Dec 2011 07:12
The Weir Group, a FTSE 100 listed industrial engineer, has completed the acquisition of the wellhead solutions provider Seaboard Holdings for $675m. The transaction was paid in cash and funded from new and existing bank facilities. For the year to 31 December 2011, Seaboard is forecast to achiev
Read moreLondon close: Merkel comments weigh, Footsie pares gains
13th Dec 2011 16:21
London's blue chip index experienced a boost on Tuesday afternoon, helped by a strong Spanish bond auction and a better-than-expected German confidence survey. However, stocks began to retreat late on after some worrying comments from Angela Merkel and rumours of disruption to oil exports in the Per
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