focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied Materials
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied MaterialsView Video
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to mining
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to miningView Video

Latest Share Chat

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 midday: Stocks edge higher on improved outlook from BoE

Wed, 15th May 2013 11:19

An improved outlook from the Bank of England (BoE) lifted UK markets into the blue by Wednesday lunchtime as investors shrugged off disappointing growth figures from the Eurozone and rising unemployment at home.The FTSE 100 was extending its recent winning streak to its 10th day after finishing Tuesday's session at 6,686, a level not seen since late 2007. The benchmark index's all-time closing high of 6,930 was recorded in December 1999, a mark which could be surpassed before the end of 2013, according to some analysts.The BoE's Quarterly Inflation Report was on investors' minds this morning as Sir Mervyn King presided over his final report before handing over the reins to Mark Carney this summer. He said that projections are now for stronger growth and weaker inflation than the Bank expected three months ago. "That's the first time I've been able to say that since before the financial crisis," King told the press.However, Marcus Bullus, the Trading Director at MB Capital, viewed his comments with a cautious stance. He said: "With one eye on his legacy and one on the economy, the temptation to look for positives must have been overwhelming.  "He assured us once again that the 'recovery is in sight'. It is, if you are peering through the Hubble space telescope. The Governor's prediction that the Bank Rate will remain below 1.0% for at least four years hardly hints at confidence."Eurozone GDP misses forecasts; UK unemployment on the riseMarkets opened cautiously early on after Eurozone gross domestic product (GDP) shrunk by 0.2% in the first quarter. This was better than the 0.6% contraction in the fourth quarter of 2012 but missed the forecast for a fall of just 0.1%.Economic powerhouses Germany and France both missed forecasts this morning with the latter slipping into recession. Meanwhile, Italy was stuck with negative growth and remains in its longest recession in the last 43 years.Despite the disappointment, stock markets across Europe gave a pretty muted reaction, as Market Analyst Ishaq Siddiqi from ETX Capital explains: "The outcome of Eurozone GDP hasn't triggered a reversal of the bullish tone as many believe that this will only push the European Central Bank to consider options to provide further stimulus measures and also in part that the Q1 period was affected by cold weather conditions which stalled growth for the core regions." In other news, UK unemployment rose to 2.52m in the first three months of the year, according to the Office for National Statistics. The number of people without jobs grew by 15,000 compared to the previous quarter with the unemployment rate 0.1 percentage points higher at 7.8%.FTSE 100: easyJet flying high; ex-div stocks provide a dragBudget airline easyJet was sharply higher this morning after narrowing its half-year losses as it took initiatives to boost revenues and cut costs. Investec labelled the stock as a "key pick in the airlines sector" saying that its own above-consensus forecasts for this year look "eminently achievable".A number of heavyweight stock went ex-dividend this morning, meaning that investors will not have a chance to tap in to their latest dividend payments. Sage, G4S, Morrison, Polymetal, Sainsbury and Whitbread were all weighing heavily on the FTSE 100 this morning.Oil major Shell was also trading lower after going ex-dividend though the stock was likely under additional pressure on reports that authorities raided its offices - along with sector peer BP - in relation to a probe into alleged manipulation of oil prices over the last decade.Utilities group Severn Trent was pulling back after yesterday's 14% jump on the back of an approach by a consortium of foreign investors. The group said today that a proposal tabled by the potential bidders came at only a "modest premium" to Monday's share price and was rejected by the board.Broadcaster ITV was a heavy faller this morning despite a seemingly solid first-quarter statement in which it outperformed the TV ad market in the first quarter. Markets however appear to be focusing on the company's cautious outlook for the rest of the year.Real estate group Land Securities rose after saying that its annual net asset value per share rose 4.1% as it signed new development lettings.Contract caterer Compass was also higher after lifting its half-year revenue by 4.1% after a strong North American and emerging markets performance.FTSE 100 - RiserseasyJet (EZJ) 1,202.00p +6.37%London Stock Exchange Group (LSE) 1,401.00p +4.94%Land Securities Group (LAND) 970.50p +3.85%Aberdeen Asset Management (ADN) 477.20p +2.96%Marks & Spencer Group (MKS) 432.90p +2.92%TUI Travel (TT.) 355.60p +2.42%Prudential (PRU) 1,190.00p +2.32%Schroders (SDR) 2,536.00p +2.22%Lloyds Banking Group (LLOY) 59.99p +1.92%Barclays (BARC) 319.85p +1.85%FTSE 100 - FallersPolymetal International (POLY) 666.50p -6.39%ITV (ITV) 127.10p -3.49%Morrison (Wm) Supermarkets (MRW) 281.80p -3.46%Sainsbury (J) (SBRY) 379.30p -2.82%G4S (GFS) 251.80p -2.74%Randgold Resources Ltd. (RRS) 4,855.00p -2.69%Evraz (EVR) 159.50p -2.45%Wood Group (John) (WG.) 809.50p -2.06%Royal Dutch Shell 'A' (RDSA) 2,240.50p -1.80%Amec (AMEC) 1,056.00p -1.77%FTSE 250 - RisersKeller Group (KLR) 940.00p +8.42%Enterprise Inns (ETI) 106.60p +7.68%Restaurant Group (RTN) 510.00p +4.96%Centamin (DI) (CEY) 38.07p +4.79%Barratt Developments (BDEV) 322.00p +3.40%Ashtead Group (AHT) 633.50p +3.26%Persimmon (PSN) 1,131.00p +3.01%Berkeley Group Holdings (The) (BKG) 2,183.00p +2.73%Synthomer (SYNT) 222.50p +2.68%Savills (SVS) 597.50p +2.66%FTSE 250 - FallersCarillion (CLLN) 254.70p -5.32%Inmarsat (ISAT) 671.50p -4.07%Premier Oil (PMO) 378.20p -3.84%Kenmare Resources (KMR) 28.45p -3.62%Vesuvius (VSVS) 364.40p -2.38%Kazakhmys (KAZ) 359.20p -2.34%Drax Group (DRX) 577.00p -2.20%Computacenter (CCC) 443.90p -2.20%TalkTalk Telecom Group (TALK) 220.40p -2.04%SDL (SDL) 350.70p -1.74%BC
More News
27 Oct 2022 07:30

Shell announces $4bn share buyback as Q3 profits beat expectations

(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.

Read more
21 Apr 2022 11:53

Shell turning to China to offload Russian business - report

(Sharecast News) - Shell is reportedly looking to China as it looks to offload its Russian business.

Read more
15 Feb 2022 15:54

Shell preparing to sell North Sea gas fields - report

(Sharecast News) - Shell is reportedly preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, part of an ongoing retreat of long-time producers from the ageing basin.

Read more
7 Feb 2022 10:52

Berenberg nudges up target price on Shell

(Sharecast News) - Analysts at Berenberg slightly raised their target price on oil and gas giant Shell from 2,350.0p to 2,375.0p on Monday, stating the firm was "on a roll".

Read more
31 Jan 2022 10:53

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

Read more
31 Jan 2022 07:48

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

Read more
28 Jan 2022 11:25

Shell's renewables boss steps down after less than two years

* Elisabeth Brinton leaves for new role, she says* Shell creates two new renewables leadership roles* Thomas Brostrøm to head renewables generation* Steve Hill to head energy marketingBy Ron BoussoLONDON, Jan 28 (Reuters) - Shell's head of renewable...

Read more
27 Jan 2022 16:14

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
26 Jan 2022 17:02

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

Read more
26 Jan 2022 14:36

China's Sinopec awards fewer cargoes in recent LNG tender

By Chen Aizhu and Marwa RashadSINGAPORE/LONDON, Jan 26 (Reuters) - Unipec, the oil and gas trading arm of China's Sinopec Corp has awarded fewer-than-planned cargoes in a recent tender to sell up to 45 cargoes of liquefied natural gas for 2022 del...

Read more
26 Jan 2022 12:16

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

Read more
26 Jan 2022 09:33

UPDATE 2-Commodity, bank stocks lead FTSE 100 higher; Playtech drops

* Oil and banking shares top gainers* Wizz Air reports Q3 loss, expects improvement in spring* FTSE 100 up 1.3%, FTSE 250 add 1.1% (Updates to market close)By Shashank Nayar and Ambar WarrickJan 26 (Reuters) - London's FTSE 100 rose on Wednesday wit...

Read more
26 Jan 2022 09:12

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

Read more
25 Jan 2022 21:13

UPDATE 1-U.S. awards 13 mln barrel exchange of crude from strategic reserve

(Adds details on sale, background on 50 million barrel SPR plan)WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to ...

Read more
25 Jan 2022 20:10

U.S. awards exchange of 13 mln barrels of crude from strategic reserve

WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to seven companies.The companies are Shell Trading US, 4.2 million ...

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.