London close: Footsie closes higher by a whisker
25th Sep 2009 16:32
Footsie finished slightly in the blue going into the weekend on another indecisive day for the leading share index. Oil groups went well as the steady decline in the price of crude over the past few days took a pause. It dropped below $66 per barrel last night but has recovered a tad this morning.
Read moreLondon afternoon: Footsie turns lower
25th Sep 2009 13:49
London's blue chips have turned lower on disappointing US durable goods orders, which fell 2.4% in August. The figure disappointed analysts who were expecting a 0.5% increase. Durable goods excluding transportation were unchanged versus predictions of a 1% rise. It has overshadowed the news comin
Read moreLondon midday: Oil rise gives Footsie support
25th Sep 2009 12:16
Leading shares are holding on to early gains helped by a rally in the price of crude oil, which has buoyed the prices of majors BP and BG as well as a host of second-liners. News coming out of the G20 summit in Pittsburgh is making the headlines with consensus already reached on boosting the influe
Read moreBroker snap: Nomura ups Tullow valuation
22nd Sep 2009 11:42
Nomura Securities has upgraded its net asset based valuation of Irish oil firm Tullow Oil following the oil company's recent discoveries in Sierra Leone and Uganda. Nomura now values Tullow at 1341p per share, up from 1160p previously. 'In addition, we have incorporated further potential from its W
Read moreLondon close: Footsie fights back
14th Sep 2009 16:34
After toiling in the red all day, Footsie made a late push into positive territory to close above the 5,000 point mark. Miners were weak spot. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile co
Read moreFTSE 100 movers: Oil shares slip with crude price
14th Sep 2009 14:15
Oil shares have taken over from the miners as the weak spot today. The price of crude has fallen back to under $69 per barrel, clipping recent gains in Cairn Energy, Tullow and BG, which announced a monster oil find in Brazil last week. Marks & Spencer picked up as Morgan Stanley upped its price ta
Read moreLondon afternoon: Resource stocks lose favour
14th Sep 2009 14:11
Resource stocks are friendless today as oil and metals prices shift into reverse. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile copper prices have fallen for the fourth day in a row on over-s
Read moreLondon afternoon: Market in holiday mood
9th Sep 2009 14:22
Footsie made an assault on the 5,000 level over the lunchtime session but fell short, as investors took note of expectations of a flat start on Wall Street. With mergers and acquisition activity back on the agenda British Airways is in demand on hopes of a swift conclusion to its team-up with Spani
Read moreLondon midday: Consumer confidence boost for equities
9th Sep 2009 12:03
After a hesitant start leading shares have turned higher, helped by the August Nationwide Consumer Confidence index which indicated British consumers are more confident than at any time since May last year. Oil and gas explorer BG Group hailed 'excellent' test drilling results from its 30% owned Gu
Read moreLondon close: Footsie clings on to gains
8th Sep 2009 17:01
Leading London shares closed mixed, with strong gains on resource stocks counter-balanced by losses on life assurance stocks. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources led the mining sector higher, as metal prices improved. Gold miners Fresnillo and Randgold Resources were
Read moreFirst delivery from Cairn India's major oil find
1st Sep 2009 08:08
Cairn India, the 65% owned subsidiary of Cairn Energy, has started production from the largest of its 25 discoveries in the Barmer Basin in Block RJ-ON-90/1 in India. The first oil from the Mangala Field in Rajasthan Mangala was trucked to the Gujarat coast at the end of August. Oil production fro
Read moreLondon close: Footsie runs out of steam
26th Aug 2009 16:27
Wall Street's inability to hold onto new home sale-inspired gains was the final nail in the coffin for London, bringing to an end a six-day winning streak. Much of the blame lay with the UK-listed miners who hogged the list of largest losers on weaker metal prices. Antofagasta was among the worst
Read moreLondon afternoon: RBS buoyed by pension moves
26th Aug 2009 14:32
Equity prices are mixed with a lower bias. The Footsie continues to drift lower, weighed down by underperforming resource stocks. Pre-tax profits plunged at Tullow in the first half of the year as the firm felt the pinch of the slide in oil prices. The oil company posted a pre-tax profit of £34.
Read moreLondon midday: Resource stocks a drag
26th Aug 2009 12:09
Given that resource stocks are in the dog-house the Footsie is doing well to be only moderately in the red on a day of mixed results for blue chips. Pre-tax profits plunged at Tullow in the first half of the year as the firm felt the pinch of the slide in oil prices. The oil company posted a pre-t
Read moreWednesday tips round-up: Aggreko, Persimmon, Admiral
26th Aug 2009 06:41
At the Department of Energy and Climate Change, civil servants are wringing their hands about the looming energy shortage, but at temporary power supplier Aggreko, Rupert Soames, the chief executive, is rubbing his palms in anticipation of windfall profits. Even after the rise, the shares are not to
Read more