Fears of fresh oil leak hit BP July 19, 2010 NEWS THAT oil is seeping from the floor of the Gulf of Mexico sent BP’s shares down yesterday as concerns over the group’s future continued to grow. Engineers on the ground believe the explosion of the Deepwater Horizon rig in 20 April, that killed 11 and led to the worst oil spill in US history, [...]
Halliburton warns offshore ban will hit full-year profits July 19, 2010 Halliburton yesterday reported an 83 per cent jump in second-quarter profit thanks to strong US onshore drilling, but a ban on deepwater activity in the Gulf of Mexico is expected to hurt its full-year results. The world’s second-largest oilfield services company, whose shares gained two per cent yesterday, said second-quarter net income rose to $480m [...]
CITY VIEWS: DOES BP STILL HAVE A FUTURE? July 19, 2010 ALEXANDRE ANDLAUER | ALPHAVALUE “The oil leak in the Gulf of Mexico changes BP’s picture for three reasons: Development in deep water could be more difficult, costs are still difficult to estimate but will be significant and BP’s reputation has been hit and will lead to a discount versus peers.” HENRY DIXON | MATTERLEY ASSET [...]
Despite its progress, BP is now a high-risk bet July 19, 2010 WITH BP’s temporary capping of the leaking Macondo well last week, investors piled back into the stock. Fidelity’s star fund manager Anthony Bolton declared that investors have “a classic once in-alifetime opportunity to buy BP” and even after the announcement on Sunday that gas is now leaking from the ocean floor, most investment notes yesterday [...]
SCALE BACK EXPOSURE ON THE BOUNCE July 19, 2010 CFD MARKET STRATEGIST, GFT This is a big week for the markets with traders forced to consider the potential effects of a number of major events. Looking at the US, we get deeper into the second quarter earnings season with over 500 companies to report – up from less than 100 last week. The interpretation [...]
No blue skies for the Nikkei stock market this summer July 19, 2010 DESPITE the bearish fundamentals plaguing the Japanese currency, the yen has proved remarkably resilient over recent months, boosted first by safe-haven inflows as a consequence of the European sovereign debt crisis and then from the deterioration in the US recovery. This strength in the yen has had a detrimental effect on the health of Japanese [...]
THE TIPSTER July 19, 2010 EXPECTATIONS are high for Ryanair’s first quarter trading update that will be announced today. Its last update in June showed a 280 per cent jump in pre-tax profits for 2009. Back in June it announced that it expects growth to expand by 11 per cent in 2010. The airline is rarely out of the news [...]
Bid for Tomkins fails to boost investor cheer as BP’s woes drag down FTSE July 19, 2010 WEAK US housing data helped push Britain’s top shares lower yesterday, as cautious investors trimmed positions in riskier assets, while BP fell after leaks were discovered in its capped well. The FTSE 100 closed down 10.57 points, or 0.2 per cent, at 5,148.28, having shed one per cent on Friday. The index’s fall echoed a [...]
Wall St rises as IBM and Texas results hit after bell July 19, 2010 US stocks rose yesterday, spurred by optimism ahead of earnings from key technology companies and after Dow component Boeing announced strong orders. Investors bet on solid reports from International Business Machines (IBM), the world’s largest technology services provider, and chip maker Texas Instruments, hoping both would show strength similar to Intel’s results last week. But [...]
Find a superstar facialist July 19, 2010 LONDON is overwhelming at the best of times. When it comes to locating the best therapists in a sea of spas and salons, you may well end up overpaying for the privelage of an inferior, unsatisying treatment and a surly, standardised therapist. Facials are among the most intimate treatments and are the easiest to get [...]
