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Citywire Top Stocks Daily News Digest

Citywire Top Stocks Daily News Digest

All the news from across the web about the companies featured in Citywire's Top Stocks

Barclays PLC

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  • Financial Times: Barclays chief executive Antony Jenkins on Tuesday admitted banks had become too aggressive over the last two decades as he unveiled a long-awaited strategic overhaul for the UK bank which included cutting 3,700 jobs
  • The Guardian: Shutting Barclays' tax avoidance unit will take up to 10 years as legacy schemes run their course, it has emerged
  • Daily Mail: Barclays’s share price leapt 9% on Tuesday to 327.5 pence, as it moved to clean up its act after a string of scandals

BG Group PLC

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  • ShareCast: BG Group chairman Andrew Gould on Tuesday purchased 35,000 of the company shares, nearly doubling his stake to 65,000

BP PLC

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  • The Daily Telegraph: BP chief Bob Dudley is awarded £2.6 million annual bonus despite profits slump
  • Bloomberg: The BP-led Baku-Tbilisi-Ceyhan pipeline shipped 2.57 million metric tonnes of oil in January, down 7.2% from a year earlier, according to State Oil Co. of Azerbaijan, a partner in the project
  • Bloomberg: The BP-led Shah Deniz Phase Two natural-gas project in Azerbaijan’s section of the Caspian Sea will start production in 2018 and deliver the fuel to the EU in 2019
  • Bloomberg: OAO Rosneft filed an appeal over the withdrawal of a $3.3 billion claim against BP, according to a posting on the website of an arbitration court in Omsk, Siberia

BT Group PLC

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  • 4-traders: BT has revealed the details of the latest phase of its £2.5 billion commercial roll-out of fibre broadband under which additional 1.2 million premises will be added to fibre footprint

Lloyds Group PLC

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  • Bloomberg: Lloyds Banking Group sold $14.9 million of 15-year callable step-up notes, its largest structured note offering since April

Rolls-Royce Holdings PLC

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  • Daily Mail: Rolls-Royce will unveil full-year results on Thursday, with profits set to have risen by a fifth to £1.4 billion
  • Jags Report: Rolls-Royce Holdings had its target price upped by JP Morgan Chase from $13.02 to $19.18; JP Morgan currently has an overweight rating on the stock

Royal Dutch Shell Plc

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  • UPI: Shell India will invest $1 billion for a floating liquefied natural gas terminal off the coast of India
  • The Daily Telegraph: Shell's hopes of resuming drilling for oil off Alaska this summer have suffered a further setback after it revealed both its Arctic drilling rigs would now need to be taken to Asia for repairs
  • The Hindu: Shell India on Tuesday described as “absurd” the demand for $1 billion in taxes on a $160 million equity infusion done by the oil major four years ago, saying it tantamounted to tax on foreign direct investment
  • Bloomberg: Indian Oil bought one cargo of Nigeria’s Bonny Light and another of Brass River from Shell for April loading, said two traders

Tullow Oil PLC

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  • Proactive Investors: Tullow Oil’s partner in Ghana, Kosmos Energy, revealed it has submitted a plan for Tweneboa, Enyenra and Ntomme discoveries on the deepwater Tano Block to develop an operation producing an initial 80,000 barrels a day

Vedanta Resources PLC

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  • Economic Times: Vedanta Aluminium is still struggling for bauxite linkage even after it was forced to close down its one million tonne refinery two months ago due to non-availability of bauxite - the key raw material used to produce alumina
  • Daily Political: HSBC upped target price on shares of Vedanta Resources from $15.65 to $20.51; the firm currently has a “neutral” rating on the stock

Weir Group PLC

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  • Daily Political: Deutsche Bank has boosted the target price on shares of Weir Group from $32.87 to $37.57; the firm currently has a “buy” rating on the stock

Xstrata PLC

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  • Mining Weekly: Total consolidated coal production of Xstrata reached 90.4-million tonnes in the year to December, a 7% increase on the previous 12 months
  • Reuters: Commodities trader Glencore and miner Xstrata posted a drop in combined 2012 production across key metals on Tuesday

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