London open: Oil to dominate again
8th Mar 2011 08:47
Oil and Libya are set to dominate again after yesterday's frantic trading on oil markets. US light crude for April delivery is currently down $1.60 at $103.84 a barrel. Saudi Arabia and others are going to raise output to keep the global economic recovery on track. That has taken some of the pressu
Read moreLondon pre-open: Footsie to regain lost ground
8th Mar 2011 07:41
It looks like UK shares could recapture pretty much all of yesterday's losses in early trade as oil prices pull back from 29-month highs. Futures prices indicate a 15-point gain for the FTSE 100. US light crude for April delivery is currently down $1.60 at $103.84 a barrel. Saudi Arabia and others
Read moreAftermarket sales drive Weir's margin growth
8th Mar 2011 07:21
Global engineering solutions provider Weir Group enjoyed record margins in 2010 as order input rose by almost two-fifths from the year before. Order input, calculated using average exchange rates for 2010, rose 39% £1,904m in 2010 from £1,366m in 2009, and was up 36% on a like for like basis. Unde
Read moreBroker snap: Weir upped to a 'buy'
16th Feb 2011 12:54
Royal Bank of Scotland (RBS) upgrades Scottish engineer Weir Group from a 'hold' to a 'buy' and ups its forecasts as it believes 2011/12 consensus upgrades are possible from improved pricing/demand in the mining/oil sectors. "Weir is, in our view, a quality name in the UK Capital Goods sector and i
Read moreBroker tips: Rolls-Royce, International Power, Weir
16th Feb 2011 11:18
UBS is no longer a seller of engine maker Rolls-Royce, but still sees little scope for the group to materially beat expectations. The broker upgrades Rolls-Royce to a 'neutral' recommendation following its 2010 results, saying that "assuming [it's] premium valuation will persist, then there is less
Read moreLondon close: Flat finish for FTSE 100
14th Feb 2011 16:42
The top share index finished flat after a sluggish day's trading. Takeover talk pushed the price of engineering stalwarts Weir Group and Invensys higher, with engineering colossus Siemens said to have cash burning a hole in its pocket. The German company's chief financial officer, Joe Kaeser, sai
Read moreLondon afternoon: Footsie in red despite miners
14th Feb 2011 14:29
Mining stocks are buoyant after China's economy grew 9.8% in the final quarter of 2010, but demand for miners has not prevented the blue-chip index from sliding into the red. Takeover talk is pushing the price of engineering stalwarts Weir Group and Invensys higher, with German engineering colossu
Read moreLondon close: Company updates drive FTSE 100 higher
26th Jan 2011 16:47
Shares closed with decent gains though off their earlier highs, as well-received company updates helped drive the FTSE 100 forward in line with other markets. BG Group was strong after yet another discovery in the Santos Basin offshore Brazil. The latest strike is at Carioca North-East, located in
Read moreLondon afternoon: Stocks stay strong
26th Jan 2011 15:41
Shares have maintained their earlier buoyancy after a decent start on Wall Street. Company updates have been well-received here. BG Group is going strong after yet another discovery in the Santos Basin offshore Brazil. The latest strike is at Carioca North-East, located in a water depth of 2,151m,
Read moreWeir fined £3m for Iraq breach
15th Dec 2010 14:19
Engineer Weir has been fined £3m after pleading guilty to breaching UN sanctions against Iraq through its involvement in the oil-for-food programme. Following the guilty plea, Weir was also subject to a confiscation order of £13.95m. These financial penalties will be paid before the year end and wi
Read moreWeir pleads guilty to Iraq offences
13th Dec 2010 09:06
Scottish engineer Weir is to plead guilty to two charges of breaching UN sanctions against Iraq through its involvement in the oil-for-food programme. Weir will be formally charged with these offences later today and it is expected that the case will be heard at the High Court in Edinburgh on 14 De
Read moreLondon close: Rally falters as eurozone worries continue
26th Nov 2010 16:53
A sharp rally following earlier heavy losses nearly lifted Footsie into positive territory in the afternoon but the rally fizzled out and the leading share index closed lower, with European debt concerns still looming large. Portugal is currently going down the path trodden by Ireland and denying i
Read moreLondon afternoon: Losses pared
26th Nov 2010 14:39
After briefly dipping below 5600 this morning Footsie more or less halved its losses over the lunchtime session, though heavy falls are still being sustained by miners and banks. Portugal is currently going down the path trodden by Ireland and denying it is in need of a bail-out and, as with Irelan
Read moreLondon midday: Shares slide amid euro concerns
26th Nov 2010 12:01
The leading share index's losses are almost in the triple-digits now as worries over the euro-debt crisis persist. Portugal's insistence that it is not under pressure to follow Ireland in accepting a bail-out failed to reassure investors. Bond yields in Portugal and other debt-plagued eurozone coun
Read moreLondon open: Early falls for blue chips
26th Nov 2010 08:47
Losses in Asia, a lack of direction from Wall Street, where traders sat out Thursday's session for Thanksgiving, and little company news have made for a dull start. Power companies are the main point of interest after Ofgem launched a new investigation after fresh data revealed a sharp increase in
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