Westhouse names Faroe, Genel and Ithaca as top picks amid oil volatility
20th Feb 2015 09:43
Despite the recent rally in oil prices uncertainties still remain for the sector, according to Westhouse Securities which picked out Faroe Petroleum, Genel Energy and Ithaca Energy as its key recommendations in the face of ongoing volatility. Brent oil, which had fallen to a low of $47.68 a barrel l
Read moreSector movers: Energy stocks jump as crude steadies after recent surge
2nd Feb 2015 14:50
The biggest strike by US refinery employees in three decades and speculation about a slowdown in drilling Stateside helped keep crude prices steady on Monday, pushing energy stocks and oil services shares to the top of the pile in London. The industrial action, coordinated by the United Steelworkers
Read moreLondon midday: Stocks trim gains, but CRH and Tullow surge
2nd Feb 2015 12:06
CRH and energy stocks pushed the FTSE 100 higher by Monday lunchtime, though gains were pared as investors digested data and watched developments in Greece. London's benchmark index was up 0.3% at 6,771 by midday, having pulled back after hitting a high of 6,795.52 early on. CRH was on the rise aft
Read moreLondon open: CRH and oil stocks lift FTSE 100 ahead of PMI data
2nd Feb 2015 09:13
Strong gains from CRH and a host of oil stocks pushed UK markets higher on Monday, as investors awaited a host of manufacturing data from across the globe. London's FTSE 100 was up 0.4% at 6,777 early on. CRH was on the rise after agreeing a deal to buy assets from Holcim and Lafarge, while energy
Read moreEnquest to get back $23m after exiting Tunisia
2nd Feb 2015 08:19
Oil and gas group Enquest has decided to exit operations in Tunisia, meaning that it will receive $23m, though production for 2014 will be slightly lower than expected. In May 2013, Enquest agreed to buy interests in the Didon producing field and the Zarat permit from PA Resources (PAR). The acquis
Read moreLondon close: Stocks at highest since September on ECB optimism, upbeat data
23rd Jan 2015 17:08
UK stocks pushed higher on Friday, finishing at levels not seen in over four months, lifted by improving economic data and continued optimism surrounding a massive bond-buying plan by the European Central Bank (ECB). The FTSE 100 settled up 0.5% at 6,832.83 by the end of the session despite heavy fa
Read moreBroker tips: Vodafone, EnQuest, Vedanta Resources
23rd Jan 2015 16:10
The decline in organic revenues at Vodafone continued to ease in its third quarter, according to UBS, which hailed the telecom giant's "good progress in key markets". The bank reiterated its 'buy' stance and 265p target price for the stock, saying that third-quarter results due 5 February should sho
Read moreLondon midday: Stocks extend post-ECB rally as UK retail data beats forecasts
23rd Jan 2015 11:29
UK stocks were up on Friday morning after data showed an unexpected rise in retail sales, though gains were modest with markets already trading at a four-month high following a €1.1trn stimulus plan in Europe. London's FTSE 100 was up 0.2% at 6,812 by midday, after finishing the previous session at
Read moreFinancial risk at EnQuest now mitigated, says Westhouse Securities
23rd Jan 2015 09:22
Westhouse Securities analysts welcomed Friday's news that EnQuest had renegotiated the terms of its debt and cut its capital expenditure (capex) budget for this year, saying that the oil firm "is a play on oil-price recovery". EnQuest's lenders have agreed to raise the covenants on its credit facili
Read moreLondon open: Stocks extend rally post ECB, but mining shares fall
23rd Jan 2015 09:14
UK stocks were extending gains on Friday morning despite weakness in the mining sector, as sentiment continued to be boosted by the announcement of a €1.1trn stimulus package in the Eurozone. The FTSE 100 was up 0.5% at 6,832 early on after finishing the previous session at 6,796.60, its best finish
Read moreEnQuest shares soar as oil firm cuts capex, lenders relax debt covenants
23rd Jan 2015 07:05
Shares of EnQuest surged on Friday after the oil and gas group said its financial position "remains resilient" despite the recent collapse in crude prices, after it renegotiated credit facilities with its lenders and cut spending for this year. EnQuest's lenders have agreed to raise the covenants on
Read moreSunday newspaper round-up: Enquest, Britain's economy, Bank of England
18th Jan 2015 19:00
EnQuest is cutting spending, jobs and pay in an effort to avoid breaking the terms of its bank loans, the Sunday Times reported. The biggest independent UK North Sea oil producer's shares have fallen 80% since last summer as the price of crude oil collapsed. Investors took fright because of the comp
Read moreSunday newspaper round-up: Tesco, Oil explorers, Sainsbury´s
28th Dec 2014 17:17
Tesco is testing a discount format in its One Stop chain, indicating the group could be considering new ways to combat Aldi and Lidl, the Sunday Times said. Three One Stop branches have been trading as discounters with low prices and limited ranges for the past seven weeks. The trial is the idea of
Read moreFTSE 250 movers: Catlin boosted by takeover discussions while real-estate sector slides
17th Dec 2014 15:30
Catlin Group was rising substantially Wednesday after XL Group confirmed takeover discussions with the company. XL Group chief executive officer Mike McGavick said: "We both believe that we will be far better positioned and stronger together. We see this transaction as deeply accelerating the strate
Read moreFTSE 250 movers: Mining companies hit by pessimistic analysis from Credit Suisse
15th Dec 2014 14:16
Soco International, Afren and EnQuest all rose on Monday after a slight rebound early on in crude futures. That came after Libya declared "force majeure" at two key ports over the weekend, shutting down export capacity equivalent to 560,000 barrels per day. That seemed to give the energy sector a bo
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