London open: Early gains for Footsie
2nd Jul 2010 08:41
London has recouped some of yesterday's losses helped by the Korean interest in Dana Petroleum and an upbeat trading statement from Wickes owner Travis Perkins. Dana Petroleum last night confirmed the talks with a potential bidder, widely reported to be South Korean national oil company KNOC. The s
Read moreLondon close: Late slump near close
1st Jul 2010 16:34
Leading UK shares lurched downwards near the close as US markets opened poorly as concern grows over the health of Asia and the prospect of a double-dip recession. BP and satellite group Inmarsat were the only blue chips to make progress. BP shares have been on a roll ever since JPMorgan Cazenove i
Read moreLondon afternoon: BP rises again
1st Jul 2010 14:37
Leading shares moved sideways over the lunch time session, with the Footsie staying in the red despite a surge by beleaguered oil giant BP. BP is close to emulating the 5% rise it achieved yesterday. The shares have been on a roll ever since JPMorgan Cazenove indulged in what it called "fantasy M&A
Read moreLondon midday:Stocks pare losses
1st Jul 2010 12:11
Leading shares finished the morning session well above their low levels though the Footsie remained in arrears on lingering fears about a slowdown in economic growth in China and concerns over Spain's sovereign debt after ratings agency Moody's said it was considering lowering its rating by a notch
Read moreLondon open: Stocks deep in the red
1st Jul 2010 08:58
London's top stocks have started with hefty losses as sentiment was hit by a weak manufacturing report in China and warning by Moody's Investors Service that it may cut Spain's credit rating. Asian stocks were hit after China's purchasing managers' index fell to 52.1 in June from 53.9 a month earli
Read moreCairn Energy Starts Drilling At Alpha Prospect In Sigguk Block
1st Jul 2010 07:24
LONDON (Dow Jones)--Cairn Energy PLC (CNE.LN), an Edinburgh-based oil and gas exploration and production company, said Thursday it has commenced drilling operations on the Alpha prospect in the Sigguk Block, located 175 kilometers offshore Disko Island, West Greenland. MAIN FACTS: -The Stena
Read moreCairn kicks off Greenland campaign
1st Jul 2010 07:10
Cairn Energy has started its summer drill programme off the coast of West Greenland with the Alpha prospect (Alpha-1) in the Sigguk Block, about 175km offshore Disko Island. The Edinburgh-based oil company, which only received formal approval from the Government of Greenland two weeks ago, is targe
Read moreLondon close: Flat finish
30th Jun 2010 15:56
A jumpy start on Wall Street did nothing to steady a volatile Footsie, but despite all the fluctuations the leading index finished hardly changed on the day. London lost 272 points in June, the third monthly decline in a row, and traded a range of well over 400 points. Miners ENRC, Kazakhmys and A
Read moreFTSE 100 movers: Oil companies head higher
30th Jun 2010 15:29
Oil companies are back in favour today as investment banks try to generate fees by suggesting that BP could be taken over. JPMorgan Cazenove suggests Exxon Mobil as a potential suitor. Meanwhile, the FT says Anadarko, a 25% partner to BP on the Macondo prospect in the Gulf of Mexico, approved seve
Read moreLondon afternoon: Miners spoil the party
30th Jun 2010 14:15
The Footsie turned south over the lunch time session as traders took note of the US stock futures market which indicates US markets will open mixed and miners took a turn for the worse. Anglo-Swedish drugs giant AstraZeneca is still the best performer after it received a favourable US ruling in it
Read moreLondon midday: Respectable gains for Footsie
30th Jun 2010 11:58
Gains in London are now approaching respectable, buoyed by strong demand for heavy hitters in the pharmaceuticals and energy sectors. Anglo-Swedish drugs giant AstraZeneca is the best performer after it received a favourable US ruling in its battle to keep control of the patents to its best-selling
Read moreIndia Minister: Oil Companies To Invest $1.1 Bln In Latest Auction Of Blocks
30th Jun 2010 06:58
NEW DELHI (Dow Jones)--Oil companies have committed an investment of $1.1 billion in India's latest oil block auction round which was held in October last year, India's oil minister Murli Deora said Wednesday. India's oil ministry will Wednesday sign production sharing contracts for 31 explorati
Read moreBroker tips: Sainsbury, oil companies, BSkyB
18th Jun 2010 13:06
Wednesday's trading update from Sainsbury was in line with expectations, prompting Charles Stanley to reiterate its advice to clients to accumulate the shares. With Sainsbury management saying it is comfortable with consensus profit before tax forecasts of £655m for the current year Charles Stanley
Read moreBroker snap: Merger activity to pick up in oil sector
18th Jun 2010 12:42
Nomura Securities has picked up on increased mergers and acquisitions activity in the oil sector in recent weeks, with Africa-focused oil and gas company Afren and UK independent oil company Dana both announcing deals this month. "Stronger cash flow generation, owing to the higher oil price environ
Read moreMARKET TALK: Nomura Adjusts Targets On UK Oil & Gas Stocks
18th Jun 2010 09:23
0823 GMT [Dow Jones] Nomura adjusts target prices on four UK oil and gas stocks, noting a pick-up in M&A activity, which the brokerage expects to be sustained into 2H'10. It notes planned deals from Afren (AFR.LN) and Dana Petroleum (DNX.LN) over recent weeks. It reckons one of the implications from
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