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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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10 Dec 2021 12:17

LONDON MARKET MIDDAY: Stocks lower ahead of key US inflation report

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10 Dec 2021 10:41

Shell shareholders vote for move to Britain -preliminary results

AMSTERDAM, Dec 10 (Reuters) - In a preliminary result, Royal Dutch Shell shareholders on Friday voted in favour of a plan to move the company's headquarters and its tax home to Britain.Chairman Andrew Mackenzie announced the preliminary results, ...

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10 Dec 2021 10:17

Siccar Point CEO says Cambo oilfield project paused after Shell exit

LONDON, Dec 10 (Reuters) - Siccar Point CEO Jonathan Roger said on Friday that Royal Dutch Shell's decision last week not to progress the Cambo oilfield project in the British North Sea means the development will have to be paused.Siccar, which ow...

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10 Dec 2021 10:08

UPDATE 1-Royal Dutch Shell shareholders expected to approve move to London

* If approved, Shell's move expected in early 2022* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Updates with colour from meeti...

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10 Dec 2021 00:25

UPDATE 2-Royal Dutch Shell shareholders back plan to shift to London

* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Recasts with shareholder vote)By Toby Sterling and Ron BoussoROTTERDAM/LONDON, D...

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9 Dec 2021 13:37

S.Africa energy minister defends Shell's planned seismic blasting on Wild Coast

* S.Africans protest against oil search in pristine stretch* Area home to whales, penguins, dolphins, seals* Objectors want Africa to stay poor, Gwede Mantashe saysBy Tim CocksJOHANNESBURG, Dec 9 (Reuters) - South Africa's energy minister defended o...

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9 Dec 2021 10:10

UPDATE 2-European shares fall again on Omicron worries

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Deutsche Bank skids after DoJ violation report* Defensive sectors cap losses* Investors eye U.S. CPI data due Friday (Updates to close)By ...

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6 Dec 2021 16:58

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

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6 Dec 2021 12:16

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

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6 Dec 2021 12:13

UPDATE 4-BP says Brent benchmark reform should include U.S. oil, dump Brent

(Adds background)By Julia PayneLONDON, Dec 6 (Reuters) - BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have eva...

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5 Dec 2021 13:57

S.Africans protest against Shell oil exploration in pristine coastal area

By Siyabonga SishiPORT EDWARD, South Africa, Dec 5 (Reuters) - South Africans took to their beaches on Sunday to protest against plans by Royal Dutch Shell to do seimsic oil exploration they say will threaten marine wildlife such as whales, dolphi...

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3 Dec 2021 16:05

UK shareholder meetings calendar - next 7 days

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3 Dec 2021 14:31

Nigeria's Bonga oil export terminal in maintenance until next week - Shell

LONDON, Dec 3 (Reuters) - Nigeria's Bonga crude oil export terminal is undergoing planned maintenance until next week, operator Shell said on Friday.Bonga is typically one of the larger export streams from Africa's largest oil producer. It was sch...

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3 Dec 2021 12:06

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

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3 Dec 2021 10:19

Shell wins court case to start seismic surveys offshore South Africa

CAPE TOWN, Dec 3 (Reuters) - A South African high court on Friday struck down an urgent application brought by environmentalists to stop oil major Royal Dutch Shell starting seismic surveys to explore for petroleum systems off the eastern seaboar...

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