LONDON -- Hot news and a nose for a bargain drove the retail clients of stockbroker TD Direct Investing to hit the "buy" button this morning, with three shares in particular benefiting from positive news flow.
First up: Tesco
Next up is BP
While TNK-BP has delivered dividends and a sizable chunk of Russia's oil reserves to BP, the stake has also delivered ample headaches, and the hope now will be that Rosneft will be a more cordial bedfellow.
According to the RNS released today, the basic plan goes something like this. First, Rosneft buys the stake for $17.1 billion in cash and shares representing 12.84% of Rosneft. BP then uses $4.8 billion of the cash to purchase a further 5.66% of Rosneft from the Russian government, which -- added to BP's existing holding -- gives it 19.75% of Rosneft's shares.
It has taken some time to negotiate, but the outcome should be that BP winds up Rosneft's biggest shareholder and maintains a big stake in Russia but gets some cash and dispenses of a fractious relationship that had clearly run its course.
Lastly, 1 billion pound AIM-listed gold miner Centamin
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