Shell non-exec takes first stake
A round-up of the biggest director deals today so far.
Hans Wijers, a non-executive director at the Anglo-Dutch oil giant Shell, has spent just less than £90,000 on a stake in the firm.
He took 5,000 shares at €19.96 (1,789.81p), which represents his sole holding in the group.
Shares in Shell have rallied strongly since earlier in the year, when they sat below 1,400p, though they are still below the levels at which they sat earlier in the year, when Wijers joined the board.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Wijers is the chief executive of AkzoNobel, an Amsterdam manufacturing firm that specialises in healthcare products, coatings and chemicals.
His purchase of shares comes soon after Shell reported a 73% fall in third quarter earnings after being hit by the sharp decline in oil prices following the economic downturn that erupted towards the end of 2008.
Ernings for the three months to the end of September, on a current cost of supplies (CCS) basis, fell 73% to just $3bn from $10.9bn a year ago.
"Our third quarter results were affected by the weak global economy," said chief executive Peter Voser.
He also remained cautious on future prospects, despite a recovery in oil prices.
'We see some indications that energy demand and pricing are improving, but the outlook remains very uncertain, and we are not expecting a quick recovery,' he said.
Top Director Buys
Value: £400,011
Value: € 123,750
Value: £89,490
Value: € 41,250
Value: € 41,250
Value: £27,994
Value: £21,647
Value: £20,150
Top Director Sells
Value: £1,589,250
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Energy bills to rise by 1.2% in January 2025
Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
By Dan McEvoy Published
-
Should you invest in Trainline?
Ticket seller Trainline offers a useful service – and good prospects for investors
By Dr Matthew Partridge Published