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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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  • Reuters: Barclays is considering asking its shareholders for approval to sell bonds that would convert into shares if the British bank hits trouble, a person close to the matter said on Monday
  • Bloomberg: Absa Group investors voted to approve the South African bank’s $2.1 billion all-share offer for most of Barclays’ African assets

Bodycote PLC

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  • Jags Report: Oriel Securities reissued their buy rating on shares of Bodycote as it fixed a $8.31 target price on the stock

BP PLC

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  • Financial Times: BP acted with “wilful misconduct” in the lead-up to the 2010 Gulf of Mexico oil spill, the US government has alleged at the start of the trial over the accident, as it pushes for the highest possible penalties and damages
  • Fox Business: Although BP's financial results weakened in 2012, additional divestment proceeds should allow the company to absorb cumulative costs of up to $40 billion after tax, and retain its A2 rating, Moody’s said in a report

BT Group PLC

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  • The Daily Telegraph: BT has bought a slew of American, UK and Irish sports channels from broadcaster ESPN for up to £40 million
  • The Independent: The telecoms giant BT faces having to cut prices for high-speed data services in the £2 billion-a-year wholesale "leased lines" market under new rules from the regulator, Ofcom

Filtrona PLC

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  • Jags Report: Canaccord Genuity has reiterated buy rating on shares of Filtrona with a $10.43 target price fixed on the stock

First Quantum Minerals PLC

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  • Bloomberg: First Quantum Minerals may see Zambia’s state-owned mining company become its second-biggest shareholder if it converts a stake in the continent’s largest copper operation into equity

GlaxoSmithKline PLC

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  • The Hindu: Life Insurance Corporation of India has sold 1.67 million shares of GlaxoSmithKline Consumer Healthcare fetching $121 million

Invensys PLC

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  • Daily Political: Invensys’s stock had its ‘overweight’ rating reaffirmed by research analysts at Morgan Stanley

National Grid PLC

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  • Daily Political: National Grid’s stock had its ‘outperform’ rating restated by equities researchers at Credit Suisse; a target price of $11.63 has been fixed on the stock

Rio Tinto PLC

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  • Fox Business: Rio Tinto faces losing its single-A credit rating if iron ore prices slide from current levels or if the mining company doesn't sell off assets, Standard & Poor's Ratings Services has warned

Royal Dutch Shell Plc

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  • Fox Business: Spain's Repsol SA may announce this week the sale of several of its liquefied natural gas assets to Shell for a total between €1.50 billion and €1.7 billion
  • Reuters: US federal prosecutors have been asked to take legal action over safety and environmental violations discovered on one of two drillships Shell used last year in Arctic waters off Alaska, officials said on Monday
  • Economic Times: The share transaction between Shell India and its global parent can be scrutinised by the Indian income-tax department for violation of transfer pricing rules, tax experts say
  • Daily News Egypt: Shell Egypt has signed a partnership agreement with Nile Petroleum, identifying the latter as the primary distributor of Shell marine lubricants in Egypt, to serve ships passing through the Suez Canal
  • AME Info: Qatar Shell has partnered with Qatar Development Bank to open the doors for local Small to Medium Enterprises (SMEs) to supply contracts for Shell businesses in Qatar

Weir Group PLC

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  • Daily Political: Weir Group’s stock had its ‘buy’ rating reiterated by UBS AG; a $34.75 target price has been fixed on the stock

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