LSE Market News

UK’s oil giant BP (LSE:BP.) is one step closer to its US$38 billion divestiture programme as the company announced it is giving up its southern gas assets in the North Sea for US$400 million. Europe’s second largest oil company, BP has been selling off assets since 2010, to fund costs resulting from the most expensive […]

Drilling at a controversial BP (LSE:BP.) deepwater oil well off the coast of the Shetland Islands could begin within days in spite of recent controversy over the well’s environmental impact. The oil giant was given the go ahead to begin drilling after thorough review of the well’s environmental impact and emergency contingency plans by the […]

GlaxoSmithKline (LSE:GSK), the pharmaceutical giant, announced today that it will be investing £500M in manufacturing, including a brand new £350M manufacturing facility in Ulverston, Cumbria. The remaining investment will be used for improvements to existing factories in Scotland and England, where key ingredients in the company’s vaccines are manufactured. The investment, strengthening...

British consultancy firm Sweett Group (LSE:CSG) announced they had been awarded a contract by the Australian Department of Defence in the value of £80 million, which caused shares to climb more than 12% by mid-day trading in London. The Contract The new contract is an addition to Sweett Group’s portfolio in Australia, which includes the Defence […]

3Legs Resources (LSE:3LEG) announced in a company update this morning that ConocoPhillips will be exercising is call option for three of its exploration concessions in the Baltic Basin region of Poland.  Share prices has risen about 7% by midday on the London Stock Exchange. What the Update Mean 3Legs entered into an agreement with ConocoPhillips in 2009 […]

AIM-quoted clean fuel technology manufacturer ITM Power (LSE:ITM) announced it had signed the company’s first supply and distribution agreement, granting exclusive rights to market its products in South East Asia to a Singapore-based company. Horizon Fuel Cell Technologies, an international provider of commercial micro-fuel cell products established in Singapore, was given the exclusive rights...

Hector Sants, chief executive of the Financial Services Authority (FSA), announced today that he will resign from his post in June. This sudden resignation leaves the regulatory body reeling, as several senior employees have also resigned. Sants was expected to oversee the FSA’s transition to the “twin peaks model,” effective April 2nd.  Under this structure, the […]

Tullow Oil (LSE:TLW) released a statement at noon today announcing that it has found water-bearing reservoirs with oil shows at two of its exploratory wells.  Tullow is trying to add reserves after successfully unlocking nearly 4 billion barrels of oil in new provinces in Uganda, Ghana, and French Guiana.  Share prices have been volatile today, rising and falling modestly […]

Scottish & Southern Energy (LSE:SSE), a “big six” energy company, today lost an appeal against charges that the company had engaged in illegal sales techniques. Three judges at the Court of Appeals in London threw out the plea on the grounds that they “were not convinced that the conviction was unsafe.” Last May, the Surrey […]

One week before UK Chancellor George Osborne is scheduled to deliver the new budget, Fitch Ratings has revised its outlook for the UK’s long-term Issuer Default Rating (IDR) downward from stable to negative. The announcement has provoked a quite a number of responses, such as “UK Chancellor George Osborne has been issued a pre-Budget warning” […]