The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

London close: Stocks pare losses ahead of FOMC minutes

Wed, 10th Jul 2013 16:56

Nervousness ahead of a Federal Reserve statement and disappointing trade figures from China weighed on markets on Wednesday, though a late rally on the FTSE 100 ensured that losses were only minor by the close.The FTSE 100 finished the session at 6,505, down just eight points (-0.12%) on the day and well above its intraday low of 6,472.Mining stocks were among the worst performers of the day today after Chinese exports and imports were both worse than expected in June, falling 3.1% and 0.7% year-on-year, respectively, meaning that the trade surplus of $27.12bn was slightly under forecasts."Given that these figures came on the back of a blanket downgrade of growth forecasts by the IMF yesterday, the surprise weakness in the latest batch of Chinese data has reinforced negative perceptions about the possibility of a much sharper-than-anticipated Chinese slowdown," said Senior Market Analyst Michael Hewson from CMC Markets.Meanwhile, investors were also preparing for the minutes of June's Federal Open Market Committee (FOMC) meeting and subsequent press conference with Fed Chairman Ben Bernanke due later this evening. Analysts now widely expect the FOMC to begin scaling back its asset purchase programme as soon as September, given last Friday's jobs report for June which smashed expectations across the board."The minutes will be useful in hearing the thoughts of FOMC members, however it's worth noting that this took place before the release of June's jobs report," said Market Analyst Craig Erlam from Alpari. "Therefore, Bernanke's comments are likely to be followed much more closely for a more up-to-date view on the situation."FTSE 100: Burberry jumps after "standout" first quarterLuxury fashion brand Burberry saw its share price jump on Wednesday after saying that it was pleased with its first-quarter retail performance as underlying revenues rose 18%. Chief Executive Angela Ahrendts said that spring/summer 2013 was a 'standout' season.Petrofac was in demand after Citigroup named the stock as one of its top picks in the European oil services sector. Other oil stocks were also advancing today as crude prices pushed higher; Tullow Oil, Shell and BP finished firmly in positive territory.Supermarket peers Morrison and Tesco were up after Exane BNP Paribas upgraded its ratings on both stocks. Sainsbury, which was left at 'underperform', was under the weather today.Security solutions group G4S was in the red after Goldman Sachs maintained its 'sell' rating on the stock, saying that it sees downside risk to profit and margins. Quality testing firm Intertek was lower after Jefferies cut its target price and kept an 'underperform' recommendation, labelling the stock one of its "least preferred" names in the UK business and employment services sector.Mining stocks were among the worst performers today on the back of disappointing trade figures from Asian powerhouse China. Fresnillo, Randgold and Glencore Xstrata were lower, while Vedanta was also trading in the red after going ex-dividend. Also weighing on the sector was a research note from Goldman Sachs, which cut its target prices for a number of mining stocks, saying that negative earnings momentum and limited free cash flow continue to take the shine off the sector, as well as lower growth in China and weaker copper prices.FTSE 250: Burberry jumps after "standout" first quarterCar and bike parts retailer Halfords delivered a better-than-expected improvement in first-quarter sales, fuelled by strong demand for its cycling and car maintenance divisions. The stock was up over 11% by the close.Heading the other way was Dechra Pharmaceuticals as investors gave a cool reaction to the proposed disposal of the businesses within its Services Segment as the company looks to focus on high-margin, specialist veterinary pharmaceuticals products.FTSE 100 - RisersBurberry Group (BRBY) 1,509.00p +4.79%Tullow Oil (TLW) 1,090.00p +2.16%Tesco (TSCO) 349.50p +1.72%Morrison (Wm) Supermarkets (MRW) 282.00p +1.44%Petrofac Ltd. (PFC) 1,302.00p +1.40%ITV (ITV) 152.10p +1.27%Reed Elsevier (REL) 797.50p +1.21%Royal Dutch Shell 'B' (RDSB) 2,271.50p +1.09%Bunzl (BNZL) 1,392.00p +1.09%Legal & General Group (LGEN) 187.60p +1.08%FTSE 100 - FallersFresnillo (FRES) 903.50p -4.99%Vedanta Resources (VED) 1,062.00p -2.92%Randgold Resources Ltd. (RRS) 4,105.00p -2.56%Glencore Xstrata (GLEN) 257.65p -2.50%Imperial Tobacco Group (IMT) 2,285.00p -2.35%British American Tobacco (BATS) 3,482.00p -2.00%International Consolidated Airlines Group SA (CDI) (IAG) 269.80p -1.93%CRH (CRH) 1,331.00p -1.77%SABMiller (SAB) 3,203.00p -1.72%G4S (GFS) 225.60p -1.70%FTSE 250 - RisersHalfords Group (HFD) 354.50p +11.41%Countrywide (CWD) 577.00p +4.91%Soco International (SIA) 370.30p +4.84%RPC Group (RPC) 413.50p +4.03%Synthomer (SYNT) 196.80p +2.88%Fidelity China Special Situations (FCSS) 88.50p +2.43%Hikma Pharmaceuticals (HIK) 1,097.00p +2.24%Xaar (XAR) 867.00p +2.00%Keller Group (KLR) 1,073.00p +2.00%Kier Group (KIE) 1,377.00p +1.92%FTSE 250 - FallersHochschild Mining (HOC) 149.00p -12.35%African Barrick Gold (ABG) 98.35p -10.26%Bwin.party Digital Entertainment (BPTY) 122.20p -6.36%Dechra Pharmaceuticals (DPH) 700.00p -6.10%Polymetal International (POLY) 479.10p -5.32%Anite (AIE) 135.00p -4.59%Imagination Technologies Group (IMG) 274.90p -4.55%RPS Group (RPS) 221.00p -4.33%Spectris (SXS) 1,940.00p -4.24%Domino Printing Sciences (DNO) 645.00p -4.02%BC
More News
7 Jan 2022 08:17

LONDON BRIEFING: Shell warns on cash outflows but continues buybacks

LONDON BRIEFING: Shell warns on cash outflows but continues buybacks

Read more
7 Jan 2022 07:57

LONDON MARKET PRE-OPEN: Shell says buybacks to continue "at pace"

LONDON MARKET PRE-OPEN: Shell says buybacks to continue "at pace"

Read more
7 Jan 2022 07:49

Shell to proceed with share buyback 'at pace' despite weaker oil performance

(Sharecast News) - Royal Dutch Shell said its $7bn share buyback programme would continue "at pace" despite weaker oil product sales due to the Omicron Covid variant and forex headwinds in Turkey.

Read more
7 Jan 2022 07:27

UPDATE 3-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds share price)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue "at pace" a $7 billion share buyback largely funded from t...

Read more
7 Jan 2022 07:27

UPDATE 1-Shell to continue $7 bln buyback programme 'at pace'

(Adds detail)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COV...

Read more
7 Jan 2022 07:27

UPDATE 2-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds details, graphics)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue its $7 billion share buyback programme after selling ...

Read more
7 Jan 2022 07:10

Shell to continue $7 bln buyback programme 'at pace'

LONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COVID-19 variant.(Reporting b...

Read more
6 Jan 2022 23:48

U.S. court rejects laundromat owners' bid to block sale of Texas oil refinery to Mexico's Pemex

By Stefanie EschenbacherHOUSTON/MEXICO CITY, Jan 6 (Reuters) - A U.S. court on Thursday tossed out a request from two laundromat owners to block Mexican state oil company Petroleos Mexicanos (Pemex) from acquiring majority control of a Texas oil r...

Read more
6 Jan 2022 12:16

UPDATE 2-Key Kazakh oil fields pump despite protests

(Updates with Shell, details, background)By Ron Bousso and Rowena EdwardsLONDON, Jan 6 (Reuters) - Oil production at Kazakhstan's top three fields is continuing even as some contractors gathered outside the largest Tengiz field in support of protes...

Read more
6 Jan 2022 12:00

Shell-backed U.S. solar developer raises $775 million in equity

By Nichola GroomJan 6 (Reuters) - Silicon Ranch Corp, the U.S. solar project developer backed by Royal Dutch Shell, on Thursday said it raised $775 million in equity capital from new and existing investors.The announcement comes as renewable energ...

Read more
5 Jan 2022 09:54

UPDATE 2-Commodity-linked stocks lift UK's FTSE 100 after dull start

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Ocado, LSEG, Ferguson gain as brokerages raise share ratings* Gains in oil majors offset risk-off sentiment* FTSE 100 up 0.2%, FTSE 250 of...

Read more
4 Jan 2022 17:00

LONDON MARKET CLOSE: Stocks start 2022 in style as airlines fly higher

LONDON MARKET CLOSE: Stocks start 2022 in style as airlines fly higher

Read more
4 Jan 2022 12:04

LONDON MARKET MIDDAY: Bright start to 2022 as travel stocks take off

LONDON MARKET MIDDAY: Bright start to 2022 as travel stocks take off

Read more
3 Jan 2022 13:26

U.S. refiner HollyFrontier warns of lower than expected throughput

Jan 3 (Reuters) - U.S. oil refiner HollyFrontier Corp's fourth-quarter throughput will be lower than forecast, hit by weather and turnaround setbacks at refineries in Washington, New Mexico and Oklahoma, the company warned on Monday.Flooding in B...

Read more
31 Dec 2021 13:08

LONDON MARKET CLOSE: Muted finish as FTSE 100 rallies 14% in 2021

LONDON MARKET CLOSE: Muted finish as FTSE 100 rallies 14% in 2021

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.