Good news at last from Greenland for Cairn
8th Nov 2011 08:23
Oil giant Cairn Energy saw its share price rise 4% after it reported encouraging results from its five well exploration drilling campaign offshore Greenland. The AT7-1 well on the Atammik Block in South Ungava has encountered a 113m gross interval with approximately 50m of reservoir quality sand
Read moreLondon close: Greek worries continue as Footsie drops 1%
3rd Oct 2011 16:48
Losses in London were trimmed by the end of trade on Monday after a relatively better start on Wall Street, as US benchmarks fell by just a few points. Nevertheless, concerns over the Greek deficit continued to weigh on sentiment in Europe, with major markets across the continent suffering falls of
Read moreLondon midday: Stocks off intraday lows after manufacturing data
3rd Oct 2011 12:13
While losses have been trimmed since the open, Greek deficit fears continued to weigh on stocks at midday, with the banking peers Standard Chartered, Barclays and Royal Bank of Scotland among the heaviest fallers. Banks across Europe joined in with the sell-off, with French lenders BNP Paribas and
Read moreLondon open: Footsie drops below 5,000
3rd Oct 2011 08:29
The Footsie plummeted in early trading on Monday, dropping below the 5,000 level, as euro worries continue to dampen sentiment. Despite Greece's tough austerity measures, the debt-stricken country revealed on Sunday that it will miss its deficit target for 2011, as it unveiled plans for job cuts ac
Read moreCairn India makes maiden Sri Lankan discovery
3rd Oct 2011 07:45
Cairn India has confirmed that it has discovered the first hydrocarbons in Sri Lanka, after drilling its CLPL-Dorado-91H/1z well, the first well to be drilled in the country in three decades. The offshore well, in which Cairn India has a 100% interest, was drilled to a water depth of 1,354m and fou
Read moreLondon close: Stocks dive in late trading
28th Sep 2011 16:40
Stocks gave up an earlier rally to finish firmly in the red amid continued nervousness ahead of an audit of Greece's finances. There is speculation that some countries in the Eurozone are demanding that private investors take a bigger hit on their holdings of Greek debt. European Commission Presi
Read moreFTSE 100 Movers: Man Group weighing down index
28th Sep 2011 14:10
Hedge fund manager Man Group took a dive after revealing that the group's 'long only' portfolios had taken a battering. The company's total funds under management at the end of September stood at $65bn, less than in March when the figure was £69.1bn and down $7bn since the end of June. Operation
Read moreLondon midday: Stocks win back losses after Barroso comments
28th Sep 2011 12:16
The top share index is flat now after winning back earlier losses, with comments by European Commission President Jose Manuel Barroso helping to stoke optimism that the euro crisis will be resolved. Barroso has called on the European Central Bank to do everything in its power to maintain stability
Read moreLondon open: Stocks ease after surge
28th Sep 2011 08:35
Shares have fallen back a little in early dealings, unsurprisingly given yesterday's surge. Hedge fund manager Man Group took investors by surprise though and the shares are sharply lower. It said statutory profit before tax on continuing operations for the six months ending 30 September 2011 total
Read moreCairn plugs and abandons another well
28th Sep 2011 07:28
Oil giant Cairn Energy's Greenland drilling campaign continues to disappoint as it has plugged and abandoned another well. The Delta-1 exploration well, drilled by the Leiv Eiriksson semi-submersible drilling rig, in the Napariaq Block in the West Disko area did not encounter any hydrocarbon shows.
Read moreLondon pre-open: Eurozone rescue hopes start to fade
28th Sep 2011 07:21
It looks like the wheels are starting to come off the Eurozone debt crisis rescue bandwagon, after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others. Though Wall Street had another positive
Read moreFirst broker round-up of the morning: BT, Cairn, Spirent, Aurelian
19th Sep 2011 10:15
BT Group: RBS retains Buy rating, but trims target price to 210p. Cairn Energy: Alpha Value upgrades to Buy from Add. Rolls Royce: Citi reiterates Buy rating and 730p target, adding that, "Rolls Royce remains our Most Preferred stock in CIRA's Best Ideas database." Dairy Crest: Panmure Gordon
Read moreLondon close: Good gains as FTSE 100 rallies
13th Sep 2011 16:58
Stocks rediscovered their earlier buoyancy to finish with strong gains as hopes of a resolution of the euro crisis attracted buyers. Today's big mover, Cairn Energy, fell sharply after reporting disappointing results from its drilling campaign offshore Greenland, with one well coming up dry and ano
Read moreFTSE 100 Movers: Cairn disappoints investors
13th Sep 2011 13:23
Shares in Edinburgh-based oil and gas titan Cairn Energy took a dive after it reported disappointing results from its offshore drilling campaign offshore Greenland, with one well coming up dry and another showing only minor hydrocarbons. The Gamma-1 well in the Eqquar Block reached its targeted tot
Read moreLondon midday: Eurozone worries resurface
13th Sep 2011 12:07
This morning's bright start seems a distant memory now, with shares firmly in the red as worries over the Eurozone situation take centre stage again. Today's big mover, Cairn Energy is sharply lower after reporting disappointing results from its offshore drilling campaign offshore Greenland, with o
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