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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: Tim Breedon, who led a government-sponsored report on alternatives to traditional bank finance, is to join Barclays as a non-executive director
  • Seeking Alpha: Barclays launched a new fund to lure fans of Robert Shiller's Cyclically Adjusted Price Earnings Ratio (CAPE Ratio), a valuation methodology that is catching on with investors

BG Group PLC

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  • The Hindu: BG Group believes that the recent sale of its majority stake in Gujarat Gas to Gujarat-Government controlled GSPC happened at a fair price

BP PLC

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  • Hindustan Times: BP has relinquished or surrendered 9 out of the 21 oil and gas blocks in India, where it had bought 30% stake from Reliance Industries for $7.2 billion, due to poor hydrocarbon prospects
  • Reuters: Azerbaijan is not seeking to oust BP from its oil industry while asking it to improve output from major fields it operates, its energy minister said on Monday
  • China Daily: BP has transferred all its equity in two solar business joint ventures to China TBEA Co, a major manufacturer of solar energy transformers, at zero cost
  • Jakarta Post: Indonesia’s upstream oil and gas regulator BPMigas is asking BP Berau for a detailed cost recovery plan for construction of a third liquefied natural gas train in Tangguh, Papua

BT Group PLC

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  • Jags Report: Barclays Capital downgraded shares of BT Group to an equalweight rating in a report issued on Monday, with target prices set at $3.70

Debenhams PLC

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  • Daily Political: Debenhams’s stock had its “hold” rating reiterated by equities research analysts at Deutsche Bank, with target price set at $1.77

Diageo PLC

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  • Money Control: India’s UB group has agreed to cede control of United Spirits to Diageo, reports CNBC-TV18's Kritika Saxena
  • Jags Report: Barclays Capital reissued their equalweight rating on shares of Diageo in a report released on Monday, with target price set at $28.13

GlaxoSmithKline PLC

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  • Irish Times: GlaxoSmithKline has said it would invest €10 million in its plant in Sligo, Ireland, saving it from closure and securing 120 jobs

HSBC Holdings PLC

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  • Bloomberg: HSBC Holdings, the administrator of $150 billion in assets for hedge funds, is terminating agreements with some smaller Asian clients to focus on more profitable ones
  • Wall Street Journal: Bank accounts at HSBC Holdings were allegedly used to funnel alleged bribes paid by a British defense company to a Saudi royal and other officials

Premier Oil PLC

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  • SmallCapNews: Premier Oil has begun drilling operations at the Spaniards East exploration well in the North Sea

Prudential PLC

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  • SME Web: Prudential looks set to keep its headquarters in London despite previous suggestions that it could move to Asia amid concerns about European capital requirements

Royal Dutch Shell Plc

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  • UPI: Shell has announced that it has received certification from the US Coast Guard for its oil-spill containment vessel for use offshore Alaska

Tate and Lyle PLC

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  • ShareCast: Jefferies has upgraded its rating for sweeteners and food products group Tate & Lyle from 'hold' to 'buy' and raised its target price from 690 pence to 800 pence

Tullow Oil PLC

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  • The Daily Telegraph: Tullow Oil has joined the race for Arctic oil riches, signing a deal to partner Danish company Maersk Oil in exploring off Greenland

Vedanta Resources PLC

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  • Wall Street Journal: Vedanta Resources has temporarily stopped work at its alumina refinery at Lanjigarh in the eastern Indian state of Orissa as it has run out of bauxite

Xstrata PLC

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  • ABC News: Xstrata Coal has confirmed it will cut contractor positions at its Oaky Creek mine in Queensland's Bowen Basin in Australia

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