Resources and retail stocks helped FTSE indices close higher with investors pouncing on value buys across these and other sectors. The FTSE 100 ended the day up 71.86 points, or 1.08%, to 6750.76, while the FTSE 250 was up 87.1, or 0.56%, to 15,691.6. Miners were prominent after yesterday’s sell-off. Lonmin (LMI) was up 7.94% […]
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JP Morgan Cazenove has added Centrica (LON:CNA) to its list of stocks to avoid and moved to an ‘underweight’ investment rating (from ‘neutral’), stating that it sees 12 per cent downside to 2015 consensus EPS and believes the company’s dividend cover is stretched. The City heavyweight added: “The new CEO Iain Conn is due to […]
BG Group has announced the start-up of the Cidade de Ilhabela floating production, storage and offloading (FPSO) vessel. This is the second unit deployed on the Sapinhoá field and the fifth FPSO to have come onstream across the interests in which BG Group is partner in the pre-salt Santos Basin, offshore Brazil. The Cidade de […]
Sefton Resources said, in respect of the forbearance payment due to Bank of the West on Oct. 31, to which the bank provided a deferral of partial payment to Nov. 20, has been further deferred to Dec. 1. Hawker Energy Inc. has provided the Bank with a reasonable expectation of having additional equity to contribute […]
Salamander Energy and Ophir Energy have jointly announced proposed terms of a possible share-exchange offer for the entire issued and to be issued share capital of Salamander. Under the terms of the Proposed Offer, Salamander shareholders would be entitled to receive 0.5719 Ophir shares for each Salamander share. On the basis of Ophir’s share price […]
The price of oil has continued to fall, while Saudi Arabia resists cutting back on production.
A tie-up between Halliburton and Baker Hughes would create the biggest oil services group by revenue.
FTSE indices ended mixed — blue chip down, mid cap up — as miners suffered on concerns about China’s industrial sector, while several energy, financial and retail stocks also slipped. Falls were tempered by Wall St, which was up in early deals. At the close, FTSE 100 was down 17.7 points, or 0.26%, to 6678.9, […]
Canaccord Genuity has downgraded its recommendation on independent oil and gas exploration and development company Cairn Energy (LON:CNE) to ‘hold’ from ‘buy’ on valuation grounds, following the recent strong run on the shares. The shares are up around 12 per cent in the past month. The broker has bumped its target price up to 200 […]
HSBC has upgraded its recommendation on Royal Dutch Shell (LON:RDSa / LON:RDSb) to ‘overweight’ from ‘neutral’ in its global integrated oils research note, today. However, the broker lowered its target prices on both the A and B shares to 2,400 pence and 2,500 pence (from 2,415 pence and 2,530 pence), respectively, after revising its 2015 […]