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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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21 Dec 2021 12:00

Oman's gas project for block 10 in Saih Rawl filed is expected to reach production of 0.5 bln cubic feet per day - ministry

Cairo, Dec 21 (REUTERS) - Oman's energy ministry said on Tuesday that the gas project for block 10 in the Saih Rawl gas field is expected to reach production of 0.5 billion cubic feet of gas per day.It added on Twitter that the project start up is...

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21 Dec 2021 09:41

UPDATE 2-European shares rebound from Monday sell-off as energy stocks, miners jump

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20 Dec 2021 11:27

Britain consults on climate checks for new oil and gas licences

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20 Dec 2021 09:54

UPDATE 2-UK shares fall as Omicron concerns hit commodity, travel stocks

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17 Dec 2021 17:04

LONDON MARKET CLOSE: FTSE 100 outperforms Europe as Omicron cases rise

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17 Dec 2021 16:35

UPDATE 4-Brazil's oil auction raises $2 billion as Total, Shell pile in

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17 Dec 2021 16:35

UPDATE 3-Brazil's offshore field raise $2 billion as Total, Shell pile in

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17 Dec 2021 16:35

UPDATE 2-Total, Shell pile into Brazil's offshore fields in $2 billion sale

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17 Dec 2021 16:35

UPDATE 1-Foreign oil firms pile into Brazil's offshore fields in $2 billion sale

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17 Dec 2021 11:24

Just Eat adds Asda to platform, first UK partnership in grocery sector

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17 Dec 2021 11:00

Top oil majors set for 2nd shot at coveted Brazil 'pre-salt' offshore fields

By Gram Slattery, Marta Nogueira and Sabrina ValleRIO DE JANEIRO, Dec 17 (Reuters) - The world's top oil majors will compete in Brazil on Friday for the chance to snatch up some of the world's most coveted offshore oilfields, a test of the nation'...

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17 Dec 2021 09:52

IN BRIEF: Smart Metering extends exclusivity agreement with Shell

IN BRIEF: Smart Metering extends exclusivity agreement with Shell

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17 Dec 2021 07:59

Just Eat strikes first British grocery deal with Asda

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17 Dec 2021 07:51

LONDON MARKET PRE-OPEN: UK retail sales up; Johnson Matthey sells unit

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16 Dec 2021 22:13

UPDATE 3-Royal Dutch Shell confirms delay in sale of Texas refinery to Mexico's Pemex

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