Small loss for Cairn as it retrenches
17th May 2012 07:53
Cairn Energy, the Scottish oil and gas titan which has blown a fortune in a largely fruitless search for oil and gas off the coast of Greenland, has posted a small first quarter loss. In a statement the company said: "In the first quarter, the group held no oil and gas producing assets and generate
Read moreCairn Energy gets its hands on Agora Oil and Gas
9th May 2012 07:51
Oil giant Cairn Energy has completed the aquisition of Agora Oil and Gas, a Norwegian company with non-operated exploration, appraisal and development assets in the UK and Norwegian North Sea. The $450m deal adds extra drilling activity to Cairn's 2012 exploration and appraisal programme, with ni
Read moreFTSE dividends hit record in first quarter
23rd Apr 2012 08:28
Dividends from firms listed on the FTSE jumped 25% in the first quarter to 18.8 billion pounds, a record for that time of year. In total, firms paid out £3.8bn more than the same period in 2011, according to the Dividend Monitor from Capita Registrars, which analyses data provided by Exchange Data
Read moreLondon close: Footsie up despite rising yields in Spain
16th Apr 2012 16:59
- Int'l Power leads risers after bid from GDF - Energy stocks lifted by JP Morgan - Financials weighed down by euro worries The FTSE 100 finished slightly higher on Monday with investors shrugging off concerns about the Eurozone periphery as sentiment was lifted by upbeat economic data and the Citi
Read moreFTSE 250 movers: Cairn Energy leaps on oil find
16th Apr 2012 14:56
Oil and gas group Cairn Energy was a high riser after saying that Agora Oil and Gas, a firm it is set to buy, has struck oil at its Skarfjell Prospect in the Norwegian North Sea. Gem Diamonds was also climbing higher after saying that the amount of diamonds recovered at its biggest mine, Letseng,
Read moreLondon midday: Stocks shrug off euro worries
16th Apr 2012 11:38
- Int'l Power rises strongly after GDF SUEZ bid - Spanish 10-year bond yield above six per cent - Lloyds leads financials lower Despite a sell-off in the heavyweight banking sector and the soaring borrowing costs on Spanish debt, the Footsie had extended gains by lunchtime with International Powe
Read moreLondon open: Footsie rises despite banking weakness
16th Apr 2012 08:33
- Spanish 10-year bond yield above six per cent - Banks under pressure, Moody's delays ratings decision - Int'l Power rises strongly after GDF SUEZ bid London's blue chip index opened moderately higher despite a fall in the banking sector. International Power was leading the risers after receiving
Read moreCairn target strikes oil
16th Apr 2012 07:51
Cairn Energy announced that Agora Oil and Gas, a firm it is set to buy, has struck oil at its Skarfjell Prospect in the Norwegian North Sea. The well found very good quality upper Jurassic reservoir sandstone containing light oil over a 168m gross interval, it said. Due to ongoing rig schedule com
Read moreThursday broker round-up
12th Apr 2012 09:30
African Minerals: Jefferies keeps buy rating and 1,100p target. Aggreko: Investec maintains buy rating. Cairn Energy: Nomura cuts target from 500p to 434p, buy rating kept. Faroe Petroleum: Nomura cuts target from 213p to 209p, buy rating kept. FirstGroup: Jefferies downgrades from buy to hold,
Read moreLondon open: Cautious start after yesterday's sell-off
11th Apr 2012 08:27
- Miners rebound after steep losses yesterday - Eyes on Spanish yields as industrial output slips - BT falls after downgrade The Footsie swung between gains and losses on Wednesday morning after closing at a four-month low the day before. The blue chip index lost 2.24 per cent on Tuesday to finish
Read moreLondon close: Lacklustre day for Footsie
3rd Apr 2012 16:52
London's leading shares drifted lower, with little to encourage buyers into the market ahead of the release this evening of the minutes from the March 13th meeting of the Federal Open Market Committee, the US Federal Reserve's policy-making committee. Sky grounded after Murdoch resignation Britis
Read moreFTSE 250 movers: Heritage Oil in top spot on drilling resutls
3rd Apr 2012 15:46
Oil and gas group Heritage Oil was in the top spot among FTSE 250 stocks on the back of a successful drilling result at its Miran West-3 well in the Kurdistan Region of Iraq. Cairn Energy was also wanted after revealing it is splashing out $450m dollars on Agora Oil & Gas, a firm with North Sea in
Read moreLondon midday: Whitbread blows froth off Costa speculation
3rd Apr 2012 11:47
The Footsie moved sideways in the morning session, prompting the suspicion that many traders have made an early start to the Easter break. Food - and drink - for thought Whitbread's Chief Executive Officer, Andy Harrison, moved to damp down speculation about the possibility of the Premier Inn and
Read moreLondon open: Heritage bubbles higher on Iraqi success
3rd Apr 2012 08:51
London has started on the front foot, taking heart from the late surge on Wall Street yesterday, which was sparked by a better-than-expected performance by the Institute of Supply Management's manufacturing index. Drugs firms in focus Drugs giant GlaxoSmithKline has received top-line results fro
Read moreCairn plays it safe with Norwegian oil firm
3rd Apr 2012 07:21
Cairn energy is splashing out on Agora Oil & Gas, a firm with North Sea interests and owned by Lord Rothschild's investment trust. The $450m deal will see Agora adding extra drilling activity to Cairn's 2012 exploration and appraisal programme, with nine wells scheduled to be drilled in the UK and
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