LONDON MARKET CLOSE: Stocks Rise On Hopes For Imminent Brexit Deal
Wed, 23rd Dec 2020 17:08
(Alliance News) - Stocks in London ended higher on Wednesday with investors hopeful a long, sought-after Brexit agreement was within reach following optimistic comments from the UK and on the continent.
It is possible but far from certain that a post-Brexit trade deal could be agreed with Brussels on Wednesday, a Downing Street source has said.
The internationally-exposed FTSE 100 closed up 42.59 points, or 0.7%, at 6,495.75. The domestic-focused FTSE 250 ended up 347.04 points, or 1.7%, at 20,297.76. The AIM All-Share closed up 14.62 points, or 1.3%, at 1,113.80.
The Cboe UK 100 ended up 0.6% at 646.65, the Cboe UK 250 closed up 2.2% at 17,649.94 and the Cboe Small Companies ended up 2.1% at 11,522.52.
LONDON MARKET MIDDAY: FTSE 100 Straggles As Pound Rises On Brexit Hope
Wed, 23rd Dec 2020 12:01
(Alliance News) - The FTSE 100 remained in the red at midday on Wednesday, the internationally-exposed index underperforming other UK and European stock measures as the pound strengthened on hopes of an eleventh hour UK-EU Brexit trade deal.
The FTSE 100 index was down 14.99 points, or 0.2%, at 6,438.17 on Wednesday. The more domestically focused FTSE 250 index was up 88.06 points, or 0.4%, at 20,038.78 and the AIM All-Share index was up 0.4% at 1,103.80.
The Cboe UK 100 index was down 0.2% at 611.07. The Cboe 250 was up 0.6% at 22,994.37, and the Cboe Small Companies up 0.6% at 15,074.98.
In mainland Europe, the CAC 40 in Paris was up 0.6% while the DAX 30 in Frankfurt was 0.7% higher in the afternoon.
TOP NEWS: Cairn Energy Shares Soar On Award Of USD1.2 Billion Damages
Wed, 23rd Dec 2020 08:21
(Alliance News) - Shares in Cairn Energy PLC shot up on Wednesday after a tribunal established to rule on its claim against the Indian government found in the company s favour, to the tune of USD1.2 billion.
Shares in the FTSE 250 oil & gas exploration and development company were trading 36% higher at 225.00 pence each on Wednesday morning in London.
Cairn s claim was brought under the terms of the UK-India Bilateral Investment Treaty.
The tribunal ruled unanimously that India had breached its obligations to Cairn under the treaty and has awarded Cairn damages of USD1.2 billion plus interest and costs, which now becomes payable.
UK WINNERS & LOSERS SUMMARY: Cairn Jumps On USD1.2 Billion Dispute Win
Wed, 23rd Dec 2020 10:35
(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.
FTSE 100 - WINNERS
International Consolidated Airlines, up 1.9%. Europe on Wednesday began lifting travel bans on Britain put in place to contain a new fast-spreading Covid strain. France was reopening cross-border travel with Britain Wednesday but a negative Covid-19 test will be required, while the Netherlands also said it was lifting its ban beginning Wednesday but noted that all passengers, including EU citizens, must have a recent negative test to enter.
India to study arbitration case award in Cairn Energy
The Cairn Energy case is the second high-profile retrospective tax litigation after that of Vodafone Group
(Bloomberg) After such consultations, the government will consider all options and take a decision on further course of action, including legal remedies before appropriate fora, Centre said in a statement
Cairn Energy asked India to pay funds withheld along with interest to the Scottish oil explorer for seizing dividend, tax refund, and sale of shares to partly recover the dues
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The Indian government on Wednesday said that it will be studying the award in the arbitration case under India-UK Agreement for Promotion and Protection of Investments invoked by Cairn Energy Plc and Cairn UK Holdings Limited in all its aspects carefully in consultation with its counsels.