The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen 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 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
17 Jan 2022 10:06

Crown Estate Scotland offers 17 projects seabed rights for offshore wind

LONDON, Jan 17 (Reuters) - Crown Estate Scotland said on Monday it has made option agreements to 17 projects which reserve the rights to specific areas of seabed in its ScotWind leasing round which is aimed at supporting wind energy development.O...

Read more
17 Jan 2022 09:20

UPDATE 2-FTSE 100 hits two-year high as GSK boosts

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Unilever worst performer on the FTSE 100* Homebuilders gain as UK home prices soar in early 2022* Taylor Wimpey expects annual results in-l...

Read more
14 Jan 2022 17:48

UPDATE 1-Alberta prioritises oil sands' carbon storage hub, energy minister says

(Adds more details on CCUS)By Nia WilliamsCALGARY, Alberta, Jan 14 (Reuters) - The government of Alberta, Canada's main oil-producing province, plans to move forward "very, very quickly" on its next carbon sequestration hub in the Cold Lake region...

Read more
14 Jan 2022 13:56

UPDATE 1-Brazil's Petrobras trims 2022-2026 production outlook

(Recasts with details, context)SAO PAULO, Jan 14 (Reuters) - Petroleo Brasileiro SA (Petrobras) on Friday lowered its 2022-2026 production outlook to reflect production-sharing agreements involving the Atapu and Sepia oilfields.Brazil's state-run ...

Read more
14 Jan 2022 11:57

For BP, car chargers to overtake pumps in profitability race

* BP focusing on fast battery chargers, executives says* Fast chargers almost as profitable as petrol filling* BP and rivals targeting big growth in EV chargingBy Ron BoussoLONDON, Jan 14 (Reuters) - BP says its fast electric vehicle chargers are on...

Read more
14 Jan 2022 09:55

LONDON BROKER RATINGS: Exane BNP cuts BAE Systems and Rolls-Royce

LONDON BROKER RATINGS: Exane BNP cuts BAE Systems and Rolls-Royce

Read more
13 Jan 2022 18:49

Shell to hand over Deer Park refinery to Pemex next week -sources

By Ana Isabel MartinezMEXICO CITY, Jan 13 (Reuters) - Mexican state oil company Petroleos Mexicanos will take control of the Deer Park refinery in Houston, Texas on Jan. 20, three sources with knowledge of the matter said on Thursday.Royal Dutch S...

Read more
13 Jan 2022 09:50

Shell seismic tests approval complied with rules, S.Africa minister says

JOHANNESBURG, Jan 13 (Reuters) - Shell's plan for seismic testing on South Africa's Wild Coast, which critics say threatens dolphins, seals, whales, penguins and other rare sea life, received all necessary environmental approvals, the country's e...

Read more
13 Jan 2022 06:49

UPDATE 3-Activists behind Shell climate verdict target 30 multinationals

* KLM, ABN Amro among those to get letters* Milieudefensie seeks science-aligned net-zero plans* Warns court an option if companies slow to move (Adds company responses)By Anthony Deutsch and Simon JessopAMSTERDAM/LONDON, Jan 13 (Reuters) - The Dutc...

Read more
13 Jan 2022 06:49

UPDATE 2-Activists behind Shell climate verdict target 30 multinationals

* KLM, Ahold, ABN Amro among those to get letters* Milieudefensie seeks science-aligned net-zero plans* Warns court an option if companies slow to move (Adds other companies receiving letters; edits)By Anthony Deutsch and Simon JessopAMSTERDAM/LONDO...

Read more
13 Jan 2022 03:00

Activists behind Shell climate verdict target 30 multinationals

* KLM, Ahold, ABN Amro among those to get letters* Milieudefensie seeks science-aligned net-zero plans* Warns court an option if companies slow to moveBy Anthony Deutsch and Simon JessopAMSTERDAM/LONDON, Jan 13 (Reuters) - The Dutch wing of environm...

Read more
12 Jan 2022 06:43

UPDATE 4-Equinor warns of $1.8 bln UK oilfield impairment

* Mariner field is producing less oil than expected* Reserve estimate downgraded* Operator Equinor holds a 65% stake (Adds partners comment, background)By Terje Solsvik and Nerijus AdomaitisOSLO, Jan 12 (Reuters) - Norwegian energy group Equinor wa...

Read more
10 Jan 2022 12:16

Thyssenkrupp IPO candidate UCE to build 200 MW electrolyser for Shell

FRANKFURT, Jan 10 (Reuters) - Thyssenkrupp's hydrogen unit Uhde Chlorine Engineers (tkUCE), which the German conglomerate plans to list in spring, has signed a deal to deliver a 200-megawatt electrolyser to oil major Shell, it said on Monday.The ...

Read more
7 Jan 2022 09:28

LONDON BROKER RATINGS: Shell cut to Neutral; Centamin raised to Buy

LONDON BROKER RATINGS: Shell cut to Neutral; Centamin raised to Buy

Read more
7 Jan 2022 09:12

LONDON MARKET OPEN: "Apprehensive" trade as investors look to nonfarms

LONDON MARKET OPEN: "Apprehensive" trade as investors look to nonfarms

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.