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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 Bank is testing investor interest on its first euro-denominated contingent capital instrument at low to mid 8% area, according to a market source
  • Reuters: Barclays Africa Group plans to spend £72 million over the next three years on refurbishing its branch network in South Africa
  • HITC: Barclays may pay its top two executives share allowances as the European Union introduces limits on bonuses, according to a person with knowledge of the proposal
  • Reuters: Barclays is planning a euro-denominated Additional Tier 1 contingent convertible security, which will be perpetual non-callable for seven years, according to a lead manager involved

BP PLC

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  • Financial Times: BP won a big victory in its battle to limit the cost of compensation for its 2010 oil spill in the Gulf of Mexico after an appeals court called for an injunction to suspend payments to businesses that had not suffered losses
  • Oil & Gas Journal: BP has added two more drilling rigs to its deepwater Gulf of Mexico fleet

Drax Group PLC

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  • Zolmax News: Investment analysts at Credit Suisse reiterated ‘neutral’ rating and $11.38 target price on the stock of Drax Group

DS Smith PLC

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  • WKRB News & Analysis: DS Smith was upgraded by Oriel Securities to a “buy” rating in a research note issued on Monday; the firm currently has a $5.73 price objective on the stock

GlaxoSmithKline PLC

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  • Daily Mail: British Prime Minister David Cameron has taken up GlaxoSmithKline’s case in China, where the British drugs giant is being investigated for bribery
  • Daily Mail: British Prime Minister David Cameron has taken up GlaxoSmithKline’s case in China, where the British drugs giant is being investigated for bribery

Lloyds Group PLC

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  • The Daily Telegraph: Lord Norman Blackwell, a former adviser to John Major and Margaret Thatcher, is to replace Sir Win Bischoff as chairman of Lloyds Banking Group

Next PLC

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  • WKRB News & Analysis: Espirito Santo Investment Bank Research raised its price objective on shares of Next Plc from $67.94 to $90.05 in a research note issued on Monday

Rio Tinto PLC

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  • The Sydney Morning Herald: In an address to analysts on Tuesday, Rio Tinto said 2014 capital spending will fall to $11 billion and to $8 billion in 2015
  • Yahoo News: The decision by mining giant Rio Tinto to close its Gove alumina refinery in the Northern Territory of Australia may face a legal challenge
  • Business Spectator: Rio Tinto is battling to bring Queensland gas sellers to the table for a major alumina plant as concerns persist about an east coast gas shortage, according to The Australian
  • Mining.com: Rio Tinto CEO Sam Walsh says the company will go ahead with its Pilbara iron ore expansion, and will spend $3 billion less than previously planned

Royal Dutch Shell Plc

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  • ABS CBN: Pilipinas Shell Petroleum Corp is investing $274.2 million on a new import facility in Northern Mindanao and to upgrade its refinery in Batangas
  • Reuters: Bosnia's autonomous Muslim-Croat Federation expects to start talks in late February with a unit of oil major Shell on a concession for oil exploration, a minister said on Monday

Travis Perkins PLC

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  • Zolmax News: Travis Perkins’ stock had its “hold” rating restated by analysts at Deutsche Bank in a research report issued to clients and investors on Monday

Tullow Oil PLC

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  • Daily Mail: Industry gossip is suggesting that Tullow is attracting the attention of a couple of cash-rich international bidders who could bid up to £14 a share

Unilever PLC

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  • Financial Times: Unilever has awarded its auditing contract to KPMG in a move that brings to an end its 26-year relationship with PwC

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