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London open: Stocks edge higher ahead of economic data

Fri, 15th Nov 2013 08:29

- Eurozone CPI data in focus after last week's rate cut- Wall Street finishes at record high after Yellen comments- Vedanta, oil stocks rise early ontechMARK 2,651.26 +0.08%FTSE 100 6,681.10 +0.22%FTSE 250 15,288.15 +0.20%UK stocks opened higher on Friday morning though gains were only modest following yesterday's Federal Reserve-inspired gains, as investors awaited economic data from the Eurozone and US.Stocks rose strongly on Thursday after the soon-to-be Fed Chairwoman Janet Yellen said that the US economy is still performing "far short of [its] potential", sparking hopes that the central bank will continue with its stimulus programme for the time being.The dovish comments prompted yet another record finish on Wall Street last night with both the Dow Jones Industrial Average and S&P 500 rising to all-time highs.As for this morning, corporate news is thin on the ground with earnings season coming to a close "so the immediate attention is on today's macro menu with harmonised inflation from the Eurozone being the show stealer in the region", said Market Strategist Ishaq Siddiqi from ETX Capital.The final revision of Eurozone consumer price inflation is expected to confirm the initial estimate of an annual price rise of 0.7% in October, though this eased unexpectedly from 1.1% the month before.The European Central Bank's Erkki Liikanen and Yves Mersch are both due to speak today so comments over policy following last week's rate cut will be closely watched.Economic data Stateside will also be in focus today with the Empire State manufacturing index, import prices, industrial production and manufacturing output figures all due out this afternoon.Vedanta up after first-half reportMining group Vedanta Resources was in demand this morning despite reporting a 17% drop in first-half revenue to $6.2bn on the back of falling commodity prices. Nevertheless, the firm still managed to achieve record oil and gas production and an increase in the output of refined zinc, lead and silver at Zinc India.Other miners including Antofagasta and Anglo American were also making gains early on.Oil stocks were also on the advance, tracking crude prices higher this morning, with Tullow, BG and Shell among the best performers. Brent was up 1.3% at $108.54 a barrel on hopes over a continued monetary stimulus from the States. Defence, security and transport firm Ultra Electronics was a heavy faller after warning that revenue for 2013 would be slightly below the previous year's, hit by "a number of headwinds", in particular the US government-funded market.Drinks group SABMiller fell after saying that Chairman Graham Mackay is to take another medical leave of absence after a deterioration of his health.FTSE 100 - RisersAberdeen Asset Management (ADN) 425.30p +1.46%Tullow Oil (TLW) 897.00p +1.36%Royal Dutch Shell 'A' (RDSA) 2,079.00p +1.32%BG Group (BG.) 1,263.00p +1.32%Antofagasta (ANTO) 814.50p +1.31%Royal Dutch Shell 'B' (RDSB) 2,168.00p +1.19%Hargreaves Lansdown (HL.) 1,177.00p +1.12%ARM Holdings (ARM) 939.00p +1.02%RSA Insurance Group (RSA) 103.50p +0.98%Royal Bank of Scotland Group (RBS) 330.00p +0.98%FTSE 100 - FallersInternational Consolidated Airlines Group SA (CDI) (IAG) 364.20p -2.36%Centrica (CNA) 340.10p -1.51%easyJet (EZJ) 1,221.00p -1.29%BAE Systems (BA.) 448.40p -1.28%Rolls-Royce Holdings (RR.) 1,223.00p -0.97%Diageo (DGE) 1,985.00p -0.75%Next (NXT) 5,445.00p -0.73%Meggitt (MGGT) 508.50p -0.68%Associated British Foods (ABF) 2,300.00p -0.48%Intertek Group (ITRK) 3,155.00p -0.47%FTSE 250 - RisersGenus (GNS) 1,285.00p +2.96%Imagination Technologies Group (IMG) 244.20p +2.26%Menzies(John) (MNZS) 774.50p +2.24%Phoenix Group Holdings (DI) (PHNX) 729.50p +2.24%Serco Group (SRP) 427.60p +2.03%Investec (INVP) 433.20p +1.81%Capital & Counties Properties (CAPC) 329.70p +1.73%Telecity Group (TCY) 653.00p +1.71%Fenner (FENR) 464.60p +1.64%Pace (PIC) 299.80p +1.63%FTSE 250 - FallersUltra Electronics Holdings (ULE) 1,771.00p -6.59%Daejan Holdings (DJAN) 3,983.00p -2.43%Essar Energy (ESSR) 105.90p -2.22%Dunelm Group (DNLM) 868.14p -2.07%AL Noor Hospitals Group (ANH) 834.50p -1.82%Rotork (ROR) 2,845.00p -1.69%Hochschild Mining (HOC) 143.90p -1.44%TalkTalk Telecom Group (TALK) 278.80p -0.96%Dairy Crest Group (DCG) 515.50p -0.96%Ocado Group (OCDO) 428.00p -0.95%BC
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30 Dec 2021 09:28

UPDATE 2-FTSE 100 edges down as COVID fears dull festive cheer

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Industrial stocks eye best performance in 23 years* Travel and leisure hit by Omicron fears* Ashtead the top YTD performer on FTSE 100* UK ...

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30 Dec 2021 05:33

UPDATE 5-Oil prices rise slightly ahead of OPEC+ meeting next week

* U.S. crude, fuel stocks fell last week; output rises -EIA* Saudi king says OPEC+ pact 'essential' for oil market stability (New throughout, updates prices, market activity and comments to settlement, adds OPEC+ meeting details and PSM details)By...

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28 Dec 2021 09:41

S.African court halts Shell's offshore seismic survey

CAPE TOWN, Dec 28 (Reuters) - A South African high court on Tuesday blocked Shell from conducting seismic testing offshore from South Africa's pristine Wild Coast, in the latest ruling in a case seeking to prevent the oil major from exploring for...

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27 Dec 2021 14:01

Mexican president says Pemex to close Deer Park deal in January

MEXICO CITY, Dec 27 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) will complete its purchase of a controlling interest in a Texas oil refinery in January, Mexican President Andres Manuel Lopez Obrador said on Monday.Mexico's go...

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24 Dec 2021 10:03

UPDATE 1-Russia says Europe missing out on gas with Nord Stream 2 delay

(Recasts, adds quote, background)MOSCOW, Dec 24 (Reuters) - Europe, struggling with soaring gas prices, is missing out on additional Russian supplies amid delays to the Nord Stream 2 pipeline, a top Russian official signalled on Friday.Deputy Prim...

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24 Dec 2021 08:26

Russia's Novak: Nord Stream 2 hindered by politics

MOSCOW, Dec 24 (Reuters) - The launch of the Nord Stream 2 natural gas pipeline is being hindered by politics, but Russia still hopes its certification will be completed by mid-2022, Russian Deputy Prime Minister Alexander Novak said on Friday.The...

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24 Dec 2021 08:19

Russia says Nord Stream 2 a bargaining chip for U.S., EU, Interfax reports

MOSCOW, Dec 24 (Reuters) - The Nord Stream 2 gas pipeline project linking Russia with Europe has become a bargaining chip in a game played by the United States and the European Union, Russian Deputy Foreign Minister Sergei Ryabkov said on Friday, ...

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23 Dec 2021 14:14

Third Point's Loeb slams activists after UK fund chairman quits

LONDON, Dec 23 (Reuters) - Hedge fund Third Point's boss Dan Loeb on Thursday blamed the departure of the chairman of the firm's London-listed fund on "inexperienced" and "juvenile antics" of activist investors.Third Point Investors Limited (TPIL)...

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22 Dec 2021 20:56

Shell declares force majeure on Nigerian Forcados crude

LAGOS, Dec 22 (Reuters) - Royal Dutch Shell's Nigerian subsidiary SPDC has declared force majeure on exports of Nigerian Forcados crude oil after the obstruction of a tanker path by a malfunctioning barge, the company said in a statement.The actio...

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22 Dec 2021 13:49

UPDATE 3-Mexico says U.S. approves Deer Park refinery deal, sees completion early 2022

(Adds details)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery in a transaction that should conclude early next year,...

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22 Dec 2021 13:49

UPDATE 2-Mexico says U.S. government approves Deer Park refinery deal

(Adds context, comment from Pemex CEO)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manu...

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22 Dec 2021 13:49

UPDATE 1-Mexico says U.S. government approves Deer Park refinery deal

(Adds details)MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manuel Lopez Obrador said on...

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22 Dec 2021 13:15

Mexico says U.S. government approves Deer Park refinery deal

MEXICO CITY, Dec 22 (Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's controlling interest in a Texas oil refinery, Mexican President Andres Manuel Lopez Obrador said on Wednesday.Lo...

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21 Dec 2021 19:06

UPDATE 1-Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

(Adds U.S. Treasury, CFIUS decline to comment)By Stefanie Eschenbacher and Gary McWilliamsMEXICO CITY/HOUSTON, Dec 21 (Reuters) - A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico's state oil company Petroleos M...

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21 Dec 2021 18:32

Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

By Stefanie EschenbacherMEXICO CITY/HOUSTON, Dec 21 (Reuters) - A pair of New York businessmen filed a lawsuit in a U.S. court seeking to block Mexico's state oil company Petroleos Mexicanos (Pemex) from taking control of a Texas refinery, claimin...

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