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Broker tips HSBC, Shell, BP, Morrisons, Tullow, Aberdeen

Tue, 14th Apr 2015 11:34

Investec has recommended investors to 'sell' shares of global banking giant HSBC, downgrading the stock from 'hold' after a "very disappointing" set of annual results last month.In spite of the weak results, which were some 33% below consensus, HSBC's UK shares have rebounded 10% over the past month. "We do continue to believe that HSBC's generous payout is sustainable. However, when the dust settles, we think investors will see RoE>CoE as merely a 2018 aspiration and act accordingly. 'Sell'," he said.Shell's proposed £47bn takeover of BG Group, while strategically sound, "negates our previous investment thesis", according to Jefferies which downgraded the stock from 'buy' to 'hold' on Tuesday."We believe Shell paid a full price that constrains its financial flexibility - the primary driver of our previous view that Shell was the most defensive stock in the sector if oil prices remain low. We expect that many investors held a similar view. Our preference would now be Chevron," the broker said.Oil major BP had its rating dropped to 'neutral' from 'buy' over at Citigroup on Tuesday as it believes 'value' is now reflected in the share price."We think the market now better reflects the inherent value in BP. A good-news story around a self-help agenda, narrowing Russian discount rates and a favourable Macondo Phase II ruling have all driven the equity story in recent months," said Citi.Broker Shore Capital has applauded the rapid swishing blade of Morrison's new chief executive David Potts, who on Monday night removed the seventh of the 10 board members in place when he started in March.ShoreCap reiterated its 'buy' stance on Morrison's shares on the belief that the group "can deliver strong free cash generation to shareholder benefit in due course, predicated upon an ongoing improvement in trading, a material cut in capital expenditure and moderate responsibilities to landlords and the pension fund. Speedy cultural change represents a good start for the new CEO."Tullow Oil's share price surged on Tuesday after Citigroup raised its rating on the stock from 'neutral' to 'buy', saying that the oil group's portfolio quality is "undervalued" by the market.The bank highlighted the "quality and defensiveness" of Tullow's portfolio, and said concerns about its balance sheet and timing of the TEN development are "more than discounted in the current valuation".Aberdeen Asset Management shares fell on Tuesday with traders attributing the decline to a rating downgrade of the company's stock to 'underperform' from 'sector perform' by RBC Capital Markets."We see better opportunities elsewhere in our coverage universe after the recent share price outperformance. We further believe that a company that is experiencing downgrades in an upgrade environment and has a cautious outlook should at least trade at a 15% discount to sector averages," said RBC.
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30 Nov 2021 17:33

UPDATE 4-U.S. security review stalls sale of Shell Texas refinery to Mexico's Pemex

(Adds comment from Pemex source)By Erwin SebaHOUSTON, Nov 30 (Reuters) - A U.S. national security review has delayed the sale of Royal Dutch Shell's controlling interest in a Texas refinery to Mexico's national oil company, Petroleos Mexicanos (Pe...

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30 Nov 2021 17:33

UPDATE 1-Shell Deer Park, Texas, refinery sale delayed pending regulator's approval

(Adds details, background)HOUSTON, Nov 30 (Reuters) - The sale of Royal Dutch Shell's controlling interest in the joint-venture Deer Park, Texas, refinery to partner Petroleos Mexicanos (Pemex) has been delayed pending approval by the Committee on...

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30 Nov 2021 17:33

UPDATE 2-National security review stalls sale of Shell U.S. refinery to Mexican state oil firm

(Changes headline, recasts lead, adds no Pemex immediate comment, CFIUS declined to comment, remarks by U.S. representative)By Erwin SebaHOUSTON, Nov 30 (Reuters) - A national security review has delayed the sale of Royal Dutch Shell's controlling...

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30 Nov 2021 16:51

Shell Deer Park Texas refinery saie delayed pending CFIUS approval -company

HOUSTON, Nov 30 (Reuters) - Royal Dutch Shell Plc said on Tuesday a delay in approval from the federal Committee on Foreign Investment in the United States (CFIUS) has delayed the sale of its controlling interest in a joint-venture refinery in De...

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30 Nov 2021 16:03

Date for sale of Shell Deer Park, Texas refinery to Pemex pushed back -source

HOUSTON, Nov 30 (Reuters) - The date for closing the sale of Royal Dutch Shell Plc's controlling interest in the joint-venture Deer Park, Texas, refinery to partner Petroleos Mexicanos (Pemex) has been pushed back until the deal receives federal ...

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30 Nov 2021 11:52

Oil firms face workforce crunch as renewables beckon -survey

By Ron BoussoLONDON, Nov 30 (Reuters) - The oil and gas industry risks a huge workforce shortage as more than half of workers in the sector seek to move into the renewable energy industry, a survey published on Tuesday showed.The survey conducted ...

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30 Nov 2021 09:35

Kremlin: new gas transit deal talks with Ukraine hinge on gas demand in Europe

MOSCOW, Nov 30 (Reuters) - Talks on new gas transit deal with Ukraine depend on demand for the Russian gas in Europe and availability of buyers, Dmitry Peskov, Kremlin spokesman, told reporters on Tuesday.The current transit deal expires after 202...

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30 Nov 2021 09:01

LONDON MARKET OPEN: Stocks resume slide as Omicron optimism flounders

LONDON MARKET OPEN: Stocks resume slide as Omicron optimism flounders

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29 Nov 2021 17:03

LONDON MARKET CLOSE: Stocks attempt to rebound from Omicron rout

LONDON MARKET CLOSE: Stocks attempt to rebound from Omicron rout

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29 Nov 2021 12:18

LONDON MARKET MIDDAY: FTSE 100 bounces 80 points as Omicron fears ease

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29 Nov 2021 09:53

UPDATE 2-FTSE 100 rises after Friday's rout, BT Group jumps on M&A report

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Carnival, Wizz Air regain ground* Amigo slumps on plans for equity raise* FTSE 100 up 0.9%, FTSE 250 adds 1.0% (Updates to close)By Bansar...

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29 Nov 2021 08:51

LONDON MARKET OPEN: FTSE 100 rebounds but Omicron uncertainty lingers

LONDON MARKET OPEN: FTSE 100 rebounds but Omicron uncertainty lingers

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26 Nov 2021 17:05

LONDON MARKET CLOSE: Dark mood on Black Friday as variant fears bite

LONDON MARKET CLOSE: Dark mood on Black Friday as variant fears bite

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26 Nov 2021 12:11

LONDON MARKET MIDDAY: Red Friday amid fear of new Covid strain

LONDON MARKET MIDDAY: Red Friday amid fear of new Covid strain

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26 Nov 2021 10:09

ISS recommends shareholders support Shell move to UK

LONDON, Nov 26 (Reuters) - Proxy advisory firm Institutional Shareholder Service (ISS) recommended shareholders support Royal Dutch Shell's plan to move its head office from the Netherlands to Britain, according to a document seen by Reuters.Shell...

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