China and BP sign £11.8bn gas trade deal June 17, 2014 BP yesterday confirmed a £11.78bn deal to supply the China National Offshore Oil Corporation (CNOOC) with 20 years’ worth of liquified natural gas (LNG). BP chief executive Bob Dudley said it was “a fair price for them and a fair price for us” in a deal that coincides with the state visit to the UK [...]
BG Group gets rid of holding in major North Sea gas pipeline June 17, 2014 BG GROUP is selling off its majority stake in one of the North Sea’s biggest gas pipelines for as much as £562m. The London-listed firm said it will still have the right to transport fuel through the Central Area Transmission System (Cats) following the sale of a 62.78 per cent stake to investment group Antin [...]
Saudi work for Carillion June 17, 2014 British support services group Carillion yesterday revealed it had won a £70m contract to build the next phase of a new medical centre in the Saudi Arabian capital of Riyadh. Carillion, which had been building in the Middle East since the 1950s, said the job is its second hospital project in Saudi Arabia.
Premier Oil sells licence June 17, 2014 Premier Oil has sold its 30 per cent equity stake in an early-stage offshore exploration licence PL359 in the Norwegian North Sea for a $10m profit as it looks to monetise its non-core assets. Premier said yesterday that the deal is part of plans to focus its capital and activities on other projects best positioned [...]
City Moves for 18 June 2014 | Who’s switching jobs June 17, 2014 Edison Investment Research Peter Lynch has been appointed UK oil and gas analyst at the investment intelligence firm. He joins from Tell Investments. Lynch has also previously held positions at Citigroup, where he was a sell-side analyst, Merrill Lynch, and Arthur Andersen. Utilyx The energy consultancy has appointed George Pitt as finance director. He joins [...]
Best of the Brokers for 18 June 2014 June 17, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com HUMMINGBIRD RESOURCES Cantor Fitzgerald has reiterated its “buy” rating on the miner, while increasing the target price to 115p from 80p. The broker believes the firm has a very exciting deal on its second gold asset in West Africa, with an advanced development [...]
FTSE 100: Shire and Morrison help index end on a high note June 17, 2014 Bid speculation surrounding pharma giant Shire, proposed cost savings at supermarket operator Wm Morrison and a strong update from Premier Inn-owner Whitbread yesterday helped lift the FTSE 100 index slightly. The bluechip index closed up 12.13 points, or 0.2 per cent, at 6,766.77. Shire jumped 3.5 per cent to 3,660p, providing the biggest boost for [...]
New York Report: Dow goes up with inflation June 17, 2014 US STOCKS rose yesterday as data pointing to higher inflation lifted shares while high-growth tech names attracted renewed attention. The Dow Jones was up 27.48 points or 0.16 per cent, to end at 16,808.49. The S&P 500 gained 4.21 points or 0.22 per cent, to 1,941.99, while the Nasdaq Composite added 16.13 points or 0.37 [...]
Stock market correction: How to protect yourself from losses June 17, 2014 Income can help you weather any volatility, but be wary of bonds AFTER a stellar few years for global stock markets, concerns are growing over a looming correction. The S&P 500, Dow Jones Industrial Average, FTSE 100 and MSCI All-World share index have all been at or near record highs in recent weeks, and valuations [...]
How to build influence in your job June 17, 2014 Even small steps can make a big difference to how your colleagues perceive you. “It's not enough to have a bright idea, you have to get all the right people in the boat with you.” Sophie Vandebroek, chief technology officer at Xerox, was speaking about that crucial commodity in the workplace – influence. Difficult [...]
