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London midday: UK stocks drop as Greek negotiations hit rough patch

Fri, 12th Jun 2015 11:44

The UK stock market was firmly in the red on Friday as jitters about ongoing Greek debt talks continued to weigh on sentiment.The FTSE 100 was down 0.61% at 6,805.13 by midday after the International Monetary Fund's technical team quit discussions due to a lack of progress from Athens.The IMF on Thursday said there were still "major differences" to be overcome and chose to leave negotiations taking place in Brussels and return to Washington. Particular areas of contention are pension and labour market reform."A lack of progress in the Greek debt talks has seen the IMF throw in the towel and head home, leaving Greece´s confident prognosis about discussions looking very hollow," said IG analyst Alastair McCaig.A report in newspaper Bild has also worried investors after suggesting that German Chancellor Angela Merkel's advisers are holding discussions on how to deal with a Greek default.In economic data on Friday, the Office for National Statistics said it had revised up its historic estimates for construction output, meaning that UK GDP probably expanded by 3.1% in 2014 instead of the initially reported 2.8%.Meanwhile, investors will be on the lookout for producer price index numbers from the States later on, along with the preliminary estimate of the University of Michigan consumer confidence index.Petra and Bwin dropShares in Petra Diamonds slumped 9% after the company said that full-year revenues are likely to be lower than expected due to reduced prices for diamonds. Petra said it now expects to report revenue of $430m, which is below market expectations of about $450m.Gambling outfit Bwin.party also dropped around 9% after two of its largest shareholders, Emerald Bay and Stinson Ridge, sold 50m shares. Bwin's board was not party to the placing arrangements, but the company said they were consistent with the trustees' obligations to sell down their holdings before the end of October 2015.Oil and gas stocks were mostly lower, including heavyweight producer Royal Dutch Shell, as Brent crude fell 0.63% to $64.70 a barrel.Catering group Compass is on the decline after Exane BNP Paribas downgraded the stock to 'neutral', while Bernstein was weighing on shares of Severn Trent and United Utilities after cutting the stocks to 'market perform'. Market MoverstechMARK 3,200.82 -0.31%FTSE 100 6,805.13 -0.61%FTSE 250 17,987.98 -0.56%FTSE 100 - RisersRoyal Mail (RMG) 506.00p +2.57%BT Group (BT.A) 452.10p +1.17%ITV (ITV) 267.80p +0.45%Shire Plc (SHP) 5,325.00p +0.38%Imperial Tobacco Group (IMT) 3,277.00p +0.31%Anglo American (AAL) 1,010.50p +0.30%Antofagasta (ANTO) 729.50p +0.27%Barclays (BARC) 269.45p +0.26%easyJet (EZJ) 1,580.00p +0.25%Glencore (GLEN) 281.90p +0.23%FTSE 100 - FallersHikma Pharmaceuticals (HIK) 1,905.00p -2.86%Johnson Matthey (JMAT) 3,136.00p -2.00%Kingfisher (KGF) 376.40p -1.72%Weir Group (WEIR) 1,845.00p -1.65%CRH (CRH) 1,855.00p -1.59%Unilever (ULVR) 2,804.00p -1.58%St James's Place (STJ) 886.50p -1.55%TUI AG Reg Shs (DI) (TUI) 1,207.00p -1.55%Royal Dutch Shell 'B' (RDSB) 1,896.00p -1.51%Sainsbury (J) (SBRY) 260.10p -1.48%FTSE 250 - RisersDaejan Holdings (DJAN) 5,720.00p +2.05%Ted Baker (TED) 2,869.00p +1.92%Telecom Plus (TEP) 832.50p +1.77%Synergy Health (SYR) 1,784.00p +1.65%Vedanta Resources (VED) 603.50p +1.43%BlackRock World Mining Trust (BRWM) 305.70p +1.16%Clarkson (CKN) 2,636.00p +1.11%Euromoney Institutional Investor (ERM) 1,173.00p +1.03%Home Retail Group (HOME) 166.10p +1.03%Moneysupermarket.com Group (MONY) 283.10p +0.78%FTSE 250 - FallersPetra Diamonds Ltd.(DI) (PDL) 155.50p -8.74%Bwin.party Digital Entertainment (BPTY) 95.90p -8.67%Lonmin (LMI) 132.50p -5.15%Card Factory (CARD) 350.10p -4.60%Evraz (EVR) 154.00p -3.87%Soco International (SIA) 178.90p -2.77%Serco Group (SRP) 126.20p -2.55%AO World (AO.) 149.30p -2.42%Domino's Pizza Group (DOM) 796.50p -2.39%Greencore Group (GNC) 319.50p -2.26%
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UPDATE 6-Shell says break-up of group would not work in real life

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28 Oct 2021 07:22

UPDATE 7-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Q3 adj. earnings of $4.1 bln below analysts' forecast* New climate target is absolute, not intensity-based (Adds comments from top shareholder, updates price, adds graphic)By Shadia Nasralla...

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28 Oct 2021 07:22

UPDATE 5-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Adds analyst, investor view ...

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28 Oct 2021 07:22

UPDATE 4-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Releads with Shell comments ...

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28 Oct 2021 07:22

UPDATE 3-Shell toughens climate targets as Q3 profit misses forecasts

* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Adds detail on cashflow and debt in quarter)By Shadia NasrallaLONDON, Oct 28 (Reuter...

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28 Oct 2021 07:22

UPDATE 2-Shell sets tougher climate targets, Q3 profit below expectations

* Q3 adj. earnings of $4.1 bln below analysts' forecast* $7 bln Permian shareholder payouts to start next year* New climate target is absolute, not intensity-based (Adds graphic, detail on earnings, production volumes, outlook)By Shadia NasrallaLOND...

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28 Oct 2021 07:22

UPDATE 1-Shell's third-quarter profit falls, hones climate targets

(Adds detail)LONDON, Oct 28 (Reuters) - Royal Dutch Shell set a new target for its direct operational greenhouse gas emissions on Thursday, reporting third-quarter profit down 25% to $4.13 billion from the previous quarter, below expectations.Shel...

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28 Oct 2021 07:05

Shell's third-quarter profit falls to $4.1 bln, below expectations

LONDON, Oct 28 (Reuters) - Royal Dutch Shell's third-quarter adjusted earnings fell 25% to $4.13 billion from the previous quarter, it said on Thursday, below an average analyst forecast provided by the company for a $5.31 billion profit.That com...

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28 Oct 2021 07:03

Shell Q2 profits hit by Hurricane Ida, sets new climate target

(Sharecast News) - Royal Dutch Shell reported lower-than-expected third-quarter adjusted earnings despite higher fuel prices as it took a $400m hit from Hurricane Ida on operations and said it was setting new targets for carbon emission cuts.

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27 Oct 2021 20:46

UPDATE: Shell notes talks with Third Point as activist calls for split

UPDATE: Shell notes talks with Third Point as activist calls for split

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27 Oct 2021 20:20

PRESS: Third Point builds massive Shell stake, pushes for split

PRESS: Third Point builds massive Shell stake, pushes for split

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27 Oct 2021 18:26

North Sea Crude-Brent diffs fall, Equinor bids for Gullfaks

LONDON, Oct 27 (Reuters) - North Sea Brent crude differentials fell to a three-week low on Wednesday on the back of Gunvor selling a cheaper cargo to Mercuria, while the trading window also saw an extremely rare appearance of the Norwegian Gullfa...

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27 Oct 2021 16:57

LONDON MARKET CLOSE: FTSE 100 dips but budget buoys homebuilders, pubs

LONDON MARKET CLOSE: FTSE 100 dips but budget buoys homebuilders, pubs

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27 Oct 2021 16:57

UPDATE 4-Hedge fund Third Point buys stake in Shell, urges breakup

(New throughout, adds details from letter, Third Point history, activism in oil industry)By Arathy S Nair and Svea Herbst-BaylissOct 27 (Reuters) - Hedge fund Third Point has built a large stake in Royal Dutch Shell and called on the oil major to ...

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27 Oct 2021 16:57

UPDATE 3-Third Point builds $750 mln stake in Shell, urges breakup

(Releads with source comment, letter from Third Point)By Arathy S NairOct 27 (Reuters) - Activist investor Daniel Loeb's Third Point has built a near $750 million stake in Royal Dutch Shell , a source close to the matter told Reuters on Wednesday,...

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