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FTSE 100 movers: Brent crude price crash hits oil and gas stocks

Mon, 08th Dec 2014 14:29

Shell registered losses as the price of Brent crude dropped to its lowest in five years. Brent touched a low of $66.77 on Monday, its worst intraday level since October 2009. Morgan Stanley lowered its forecast for the average price of Brent oil in 2015 to $70 from $98, expecting it to trough in the second quarter at $57. Tullow Oil, among other oil and gas stocks, registered losses as the price of Brent crude dropped to its lowest in five years. Brent touched a low of $67.35 a barrel on Monday morning, a level not seen since October 2009. Morgan Stanley lowered its forecast for the average price of Brent oil in 2015 to $70 from $98, expecting it to trough in the second quarter, at $57.Marks and Spencer Group plummeted after problems with the firm's delivery service, where customers were warned that Christmas orders could take up to two weeks to arrive. The delay follows a backlog of Black Friday orders, which have also caused the next day delivery service to be suspended.Analysts at JP Morgan and Canaccord today both cut their price targets on shares of BHP Billiton, with the former doing so to 1,870p from 2,050p beforehand.Hotels operator Intercontinental Hotels Group (IHG) caused its shares to drop with the news it has accepted a €330m (£261m) offer for its Le Grand building in Paris. The company, which said it will use the proceeds for general corporate purposes, will retain a 30-year management contract of the hotel, with 10-year extension rights at IHG's discretion, giving an expected contract length of 60 years.Hargreaves Lansdown dropped following the departure its chief financial officer on Friday, with brokerage Liberum issuing a "sell" note on the company on Monday.Precious metal producer Randgold Resources saw shares rocket as gold and silver prices advanced. The company was also boosted by Deutsche Bank, which lifted its ratings on the stocks to 'buy', saying that the recent plunge in oil prices and weaker currencies should help the company to lower costs. The broker added that free cash flow growth should accelerate over the next 12 months.FTSE 100 - RisersARM Holdings (ARM) 963.50p +1.80%Bunzl (BNZL) 1,832.00p +0.99%TUI Travel (TT.) 453.80p +0.84%ITV (ITV) 214.60p +0.66%Admiral Group (ADM) 1,286.00p +0.63%Friends Life Group Limited (FLG) 382.20p +0.45%Aviva (AV.) 508.00p +0.40%Carnival (CCL) 2,816.00p +0.39%Experian (EXPN) 1,059.00p +0.38%Direct Line Insurance Group (DLG) 292.80p +0.38%FTSE 100 - FallersWeir Group (WEIR) 1,746.00p -5.01%easyJet (EZJ) 1,703.00p -3.29%Marks & Spencer Group (MKS) 483.90p -2.62%Royal Dutch Shell 'B' (RDSB) 2,179.00p -2.31%Hargreaves Lansdown (HL.) 968.50p -2.27%Royal Dutch Shell 'A' (RDSA) 2,102.00p -2.19%BHP Billiton (BLT) 1,442.00p -2.17%SABMiller (SAB) 3,349.00p -2.13%CRH (CRH) 1,547.00p -2.03%Smiths Group (SMIN) 1,122.00p -2.01%
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2 Nov 2021 07:36

UPDATE 4-'Cash machine' BP boosts share buyback as profit surges

* Underlying profits reach $3.3 bln, beating forecasts* Strong trading performance boosts results* BP to acquire further $1.25 bln of shares by early 2022* Shares down 2% as company reports $2.5 bln loss to shareholders (Adds details, updates share...

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2 Nov 2021 07:36

UPDATE 3-'Cash machine' BP boosts share buyback as profit surges

* Underlying profits reach $3.3 bln, beating forecasts* Strong trading performance boosts results* BP to acquire further $1.25 bln of shares by early 2022* Shares down 2% as company reports $2.5 bln loss to shareholders (Updates throughout, adds sh...

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1 Nov 2021 16:25

EXECUTIVE CHANGES: TP Group CEO out as Science Group tightens grip

EXECUTIVE CHANGES: TP Group CEO out as Science Group tightens grip

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1 Nov 2021 09:38

LONDON BROKER RATINGS: Upgrades for Lloyds Banking and NatWest

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29 Oct 2021 17:05

LONDON MARKET CLOSE: NatWest weighs on FTSE 100 at end of strong month

LONDON MARKET CLOSE: NatWest weighs on FTSE 100 at end of strong month

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29 Oct 2021 14:49

Big oil says up to governments at climate talks to rein in demand

LONDON, Oct 29 (Reuters) - Leaders of Europe's biggest oil and gas companies said political leaders attending U.N. climate talks that start this week must make carbon markets more effective and that only governments can effectively curb fossil fu...

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28 Oct 2021 21:00

Shell to begin Norco, Louisiana, crude, gasoline, diesel unit restarts this weekend -sources

HOUSTON, Oct 28 (Reuters) - Royal Dutch Shell Plc’s storm-idled 230,611 barrel-per-day (bpd) Norco, Louisiana, plans to begin restarting the crude distillation unit (CDU), gasoline- and diesel-producing units as early as this weekend, sources fam...

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28 Oct 2021 17:05

LONDON MARKET CLOSE: Weak Shell results hit FTSE; Apple earnings ahead

LONDON MARKET CLOSE: Weak Shell results hit FTSE; Apple earnings ahead

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28 Oct 2021 16:58

Abdrn investment manager says would 'probably' be against Shell break-up

LONDON, Oct 28 (Reuters) - Abdrn investment manager Iain Pyle said on Thursday he would 'probably' be against a call by hedge fund Third Point to break up Royal Dutch Shell.Pyle, whose company is a top-10 investor in Shell according to Refinitiv d...

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28 Oct 2021 15:59

UPDATE 4-U.S. House Democrats grill Big Oil in climate deception probe

(Recasts with testimony by oil executives)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - Executives from some of the world's biggest oil companies denied in U.S. congressional testimony on Thursday that they continue to misi...

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28 Oct 2021 15:59

UPDATE 1-U.S. Congress puts Big Oil in the hot seat in climate deception probe

(New throughout, updates with opening of hearing, Representative Maloney comments)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - The U.S. Congress on Thursday opened a year's worth of investigations into whether Big Oil dec...

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28 Oct 2021 15:59

UPDATE 5-U.S. House Democrats grill Big Oil in climate deception probe

(Adds quote from Representative Alexandria Ocasio-Cortez)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - Executives from some of the world's biggest oil companies denied in U.S. congressional testimony on Thursday that they c...

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28 Oct 2021 15:59

UPDATE 3-U.S. Congress Democrats grill Big Oil in climate deception probe

(Adds analysis by committee on scant oil company lobbying for Paris Agreement, details from Republican witness)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - The U.S. Congress on Thursday opened a year's worth of investigati...

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28 Oct 2021 15:59

UPDATE 2-U.S. Congress puts Big Oil in the hot seat in climate deception probe

(Adds comment from Republican Representative Comer)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - The U.S. Congress on Thursday opened a year's worth of investigations into whether Big Oil deceived Americans about its role i...

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28 Oct 2021 12:24

LONDON MARKET MIDDAY: Stocks edge lower as ECB rate decision looms

LONDON MARKET MIDDAY: Stocks edge lower as ECB rate decision looms

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