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
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPOView Video
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plantView 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 hit by political uncertainty, economic data

Wed, 03rd Jul 2013 11:26

Political uncertainty in Europe, disappointing economic figures from China and nervousness ahead of some key 'risk events' later this week prompted a sell-off on the FTSE 100 on Wednesday morning.Resignations of both the Portuguese Finance Minister and Foreign Minister over the last few days have sparked concerns all over the Eurozone, as anti-austerity rallies gather support. Portugal's 10-year bond yields have now surged above 8.0% for the first time since November."It's looking increasing likely that we'll see early elections in Portugal," said Market Analyst Craig Erlam from Alpari. "This is far from ideal for the Eurozone at a time when it has benefitted from not being centre stage for a few months, and only a couple of months before the elections in Germany. The last thing Angela Merkel needs in the run up to the election is more bailout and austerity discussions with a new Portuguese government."Meanwhile, activity in China's services sector remained sluggish in June with the official non-manufacturing purchasing managers' index (PMI) falling from 54.3 to a nine-month low of 53.9 in June. Meanwhile, separate data published by HSBC/Markit showed that the services PMI edged up to 51.3 from May's reading of 51.2, but the rate of expansion in new orders was the weakest in 55 months.The Eurozone services PMI also disappointed, falling from 48.6 to 48.3 in June (forecast: no change). However, one bright spot came from the UK where economic data continues to impress: the UK services PMI rose to 56.9 points, its best reading since March 2011, from 54.9 in the month before (forecast: 55.0). Markets nervous ahead of 'risk events'The US services PMI and ADP employment report are due out later, in addition to US jobless claims which are being released one day early due to the Independence Day holiday tomorrow.Meanwhile, markets are also looking ahead to the European Central Bank and Bank of England (BoE) which are to reveal their latest policy decisions on Thursday afternoon with all eyes turning to Mark Carney as he heads up his first meeting as BoE Governor.However, the big event of the week is likely to be the US non-farm payroll report due out on Friday with investors waiting nervously given that a positive surprise could prompt the Federal Reserve to move more quickly to scale back its stimulus programme.FTSE 100: Miners, ex-divs and financials fallConcerns over a slowdown in China were weighing heavily on mining stocks this morning with Anglo American, Vedanta and Glencore Xstrata among the worst performers. Burberry was trading firmly in the red after going ex-dividend, along with heavyweights British Land and Babcock.Banking group Barclays was also lower after S&P cut its credit rating by one notch, saying that its debt holders "face heightened credit risk owing to the industry's tighter regulation, fragile global markets, stagnant European economies and rising litigation risk stemming from the financial crisis".Heading the other way was Tullow Oil, rising strongly after a strong first-half operational update. The company said that revenue totalled $1.3bn, slightly ahead of the $1.2bn reported the year before.Sector peer Shell however fell despite revealing upbeat drilling results from an exploratory well in the Gulf of Mexico. The well, located 75 miles offshore in the De Soto Cayon Block 393 in 7,446 feet (ft) of water, encountered more than 500ft of net oil pay after being drilled to a total depth of 26,385ft.FTSE 250:Spirent Communications shares tumbled after the technology testing company revealed weaker-than-expected revenues for the second quarter. Group revenue is expected to fall by $26m to $92.7m for the three months to the end of June after weak orders in the first quarter, Spirent said in a trading statement. Pizza delivery firm Domino's Pizza was also down despite reporting 11.7% sales growth in the second quarter. The company said that the results come on top of "very strong comparatives" from last year.Halfords, HomeServe and TalkTalk were lower after going ex-dividend.FTSE 100 - RisersTullow Oil (TLW) 1,062.00p +2.81%ARM Holdings (ARM) 818.50p +1.36%Next (NXT) 4,662.00p +0.63%G4S (GFS) 225.70p +0.49%Kingfisher (KGF) 354.20p +0.45%London Stock Exchange Group (LSE) 1,400.00p +0.29%Bunzl (BNZL) 1,318.00p +0.23%Severn Trent (SVT) 1,688.00p +0.18%Pearson (PSON) 1,194.00p +0.17%Serco Group (SRP) 666.50p +0.15%FTSE 100 - FallersAnglo American (AAL) 1,215.50p -5.04%CRH (CRH) 1,288.00p -4.87%Vedanta Resources (VED) 995.00p -4.23%Glencore Xstrata (GLEN) 264.95p -4.00%Burberry Group (BRBY) 1,349.00p -3.99%Weir Group (WEIR) 2,078.00p -3.75%BHP Billiton (BLT) 1,653.50p -3.36%Fresnillo (FRES) 888.50p -3.27%Standard Chartered (STAN) 1,417.50p -3.14%Barclays (BARC) 274.65p -2.95%FTSE 250 - RisersPZ Cussons (PZC) 379.70p +1.80%Countrywide (CWD) 537.00p +1.32%Workspace Group (WKP) 415.40p +1.02%Micro Focus International (MCRO) 717.50p +0.77%BH Macro Ltd. EUR Shares (BHME) € 21.07 +0.77%Menzies(John) (MNZS) 705.00p +0.71%Fisher (James) & Sons (FSJ) 986.00p +0.61%Greggs (GRG) 412.80p +0.41%Synergy Health (SYR) 1,122.00p +0.36%Utilico Emerging Markets Ltd (DI) (UEM) 171.50p +0.35%FTSE 250 - FallersSpirent Communications (SPT) 122.00p -9.23%Domino's Pizza Group (DOM) 623.00p -6.88%Homeserve (HSV) 268.90p -5.85%Hochschild Mining (HOC) 155.90p -5.52%De La Rue (DLAR) 933.50p -5.23%Fenner (FENR) 303.10p -3.99%UBM (UBM) 639.00p -3.91%Evraz (EVR) 101.10p -3.90%Essar Energy (ESSR) 123.10p -3.75%TalkTalk Telecom Group (TALK) 220.40p -3.59%
More News
25 Jan 2022 17:05

LONDON MARKET CLOSE: Europe follows NY rebound but Fed jitters linger

LONDON MARKET CLOSE: Europe follows NY rebound but Fed jitters linger

Read more
25 Jan 2022 09:47

Capricorn Energy's Egyptian acquisition exceeding expectations

Capricorn Energy's Egyptian acquisition exceeding expectations

Read more
25 Jan 2022 00:01

UK government commits 32 mln pounds for floating wind projects

By Nina ChestneyLONDON, Jan 25 (Reuters) - The British government said on Tuesday it will commit nearly 32 million pounds ($42 million) to fund the development of floating offshore wind projects to help lessen its dependence on gas, the price of w...

Read more
24 Jan 2022 21:23

Lyondell Houston oil refinery sale in focus ahead of investor call

By Erwin SebaHOUSTON, Jan 24 (Reuters) - Chances for a quick sale of LyondellBasell Industries' Houston oil refinery are dwindling with several other refineries competing for buyers, said people familiar with the matter on Monday.The petrochemical...

Read more
21 Jan 2022 19:17

UPDATE 1-Royal Dutch no more - Shell officially changes name

(Adds details, background)By Ron BoussoLONDON, Jan 21 (Reuters) - Shell officially changed its name on Friday, ditching "Royal Dutch", which has been part of its identity since 1907, following plans to scrap its dual share structure and move its h...

Read more
21 Jan 2022 18:48

Shell officially drops Royal Dutch from name

LONDON, Jan 21 (Reuters) - Shell said on Friday it has officially changed its name from Royal Dutch Shell Plc to Shell Plc as part of its plan to scrap its dual share structure and move its head office from the Netherlands to Britain."Shell annou...

Read more
21 Jan 2022 09:38

LONDON BROKER RATINGS: Berenberg ups Rentokil; Citi cuts Computacenter

LONDON BROKER RATINGS: Berenberg ups Rentokil; Citi cuts Computacenter

Read more
21 Jan 2022 08:30

UPDATE 6-Oil majors TotalEnergies and Chevron withdraw from Myanmar

* Another example of Western firms leaving after coup* Had talked with French, U.S. about targeted sanctions* Was not possible to implement them* Sees junta as here to stay (Adds comment by TotalEnergies, details, bullet points)By Benjamin Mallet an...

Read more
21 Jan 2022 08:30

UPDATE 5-Oil majors TotalEnergies and Chevron withdraw from Myanmar

(Adds PTTEP's reaction, Shell)By Benjamin Mallet and Florence TanPARIS, Jan 21 (Reuters) - Oil majors TotalEnergies and Chevron Corp, partners in a major gas project in Myanmar, said on Friday they were withdrawing from the country, citing the wor...

Read more
20 Jan 2022 20:34

Mexico's Pemex says closes acquisition of Deer Park refinery

MEXICO CITY, Jan 20 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) on Thursday said it had finalized the complete acquisition of the Deer Park refinery in Texas from Royal Dutch Shell, its longstanding partner at the facility.Pe...

Read more
20 Jan 2022 19:21

UPDATE 3-Shell to supply crude to Pemex's Texas refinery under long-term pact

* Formal handover completed and new directors installed* Mexico to receive up to 230,000 bpd of gasoline, fuels (Adds transfer boosts Pemex in negotiations with suppliers)By Adriana Barrera and Ana Isabel MartinezMEXICO CITY/HOUSTON, Jan 20 (Reuters...

Read more
20 Jan 2022 19:21

UPDATE 2-Shell to supply crude to Pemex's Texas refinery under long-term pact

* Formal handover completed and new directors installed* Mexico to receive up to 230,000 bpd of gasoline, fuels (Adds statements by Shell, Pemex confirming agreement)By Adriana Barrera and Ana Isabel MartinezMEXICO CITY/HOUSTON, Jan 20 (Reuters) - M...

Read more
20 Jan 2022 17:45

Shell, UK regulators revive talks on North Sea gas field development

By Ron Bousso and Dmitry ZhdannikovLONDON, Jan 20 (Reuters) - Royal Dutch Shell and British regulators have revived talks on developing the Jackdaw gas field in the North Sea as the government struggles with soaring gas and power prices, company a...

Read more
20 Jan 2022 17:26

Pemex taking control of Texas refinery on Thursday, sources say

MEXICO CITY, Jan 20 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) will on Thursday take control of the Deer Park refinery in Texas, after concluding the purchase of Royal Dutch Shell's half of that plant, two people familiar wi...

Read more
20 Jan 2022 17:02

LONDON MARKET CLOSE: FTSE 100 down as BP, Shell and AB Foods weigh

LONDON MARKET CLOSE: FTSE 100 down as BP, Shell and AB Foods weigh

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.