Melrose Resources cuts production guidance by 8%
6th May 2011 14:28
Oil and gas group Melrose Resources has cut its full-year production guidance by 8% after disappointments at two of its Egyptian wells. The firm now expects to produce 40.5 thousand barrels of oil equivalents per day (Mboepd) in 2011, down from its previous guidance of 44 Mboepd. The North East Ab
Read moreParagon Diamonds boss takes holding to 86.5%
10th Jan 2011 17:40
The chairman of Paragon Diamonds, Francesco 'Frank' Scolaro, has tightened his grip on the African gemstone group with the purchase of nearly £400,000 in shares. His Grandinex International Corporation took 1.29m shares at 30.47p a share taking Scolaro's total holding to about 123.4m shares, which
Read moreSmall caps round-up: Forte Energy, Futura Medical, Hightex...
23rd Dec 2010 11:37
Forte Energy has completed a 7,000m drilling program at its A238 uranium anomaly in the north of its leases in Mauritania and a 1,500m diamond drilling program should be completed next month. "These initial results are from the first pass shallow drilling along strike, and confirm the presence of
Read moreSmall caps round-up: CBG, GVC, Intandem...
17th Dec 2010 12:30
Insurance broker CBG warned this year's revenue is likely to be lower than market forecast and as result, adjusted profit before tax is expected to be significantly below current expectations. The market background for the insurance broking division remains highly competitive and margins remain und
Read moreDip in third quarter production for Melrose Resources
18th Nov 2010 16:53
Oil and gas explorer and producer Melrose Resources says that its third quarter production averaged 41m barrels of oil equivalent per day (boepd) with production in Bulgaria starting after the end of the period. That figure is 6% lower than the same period in 2009 as Melrose is holding down produc
Read moreLondon close: Good day for blue chips
18th Nov 2010 16:36
Blue chips had a good day buoyed by the response to General Motor's record breaking US float and hopes for a deal in Ireland. Patrick Honohan, the head of Ireland's central bank, confirmed a loan is likely, with brokers suggesting it could be as much as €85bn, including €20bn to provide support for
Read moreLondon afternoon: Stocks extend gains
18th Nov 2010 15:28
A positive start by Wall Street has given renewed impetus to Footsie's rise this afternoon. As in Europe, stocks are rising in the US on the hope that a package to take the steam out of the Irish debt crisis is imminent. Patrick Honohan, the head of Ireland's central bank, has confirmed a loan is
Read moreFTSE 250 movers: QinetiQ on the attack
18th Nov 2010 13:50
Shares in QinetiQ rocketed as the high-tech defence group shrugged off the squeeze in defence spending to lift underlying interim profits and promise a return to dividends at the year-end. Bike and car parts retailer Halfords pedals forward after it reported a healthy rise in sales and profits in t
Read moreLondon close: Two-year high for blue chips
4th Nov 2010 17:01
Footsie hit a two-year high as investors piled into blue chips after yesterday's larger-than-expected stimulus package unveiled by the US Federal Reserve. But the good sentiment was not universal, with some hefty fallers on the back of disappointing trading updates. Hopes that the Bank of England's
Read moreLondon afternoon: Morning's gains consolidated
4th Nov 2010 14:23
Since the Bank of England's noon announcement extinguished the small hopes of Britain joining the US in reviving its quantitative easing programme, leading shares have marked time. Miners are still doing particularly well on hopes that the Fed's stimulus measures will help sustain the global econo
Read moreLondon midday: Market follows Man higher
4th Nov 2010 12:54
After a morning of holding its breath waiting for the Bank of England's pronouncement on quantitative easing, the admittedly small hopes that the Bank would follow the US central bank's lead and resume its asset buy-back programme were crushed by the announcement of maintenance of the status quo. N
Read moreLondon open: Shares jump after US launches second stimulus phase
4th Nov 2010 08:30
Yesterday's announcement of a second phase of quantitative easing in the US has sent shares soaring. Miners in particular are going well on hopes that the stimulus measures will help sustain the global economic recovery. BHP Billiton, Kazakhmys and Xstrata move ahead. In other sectors, Anglo-Dutc
Read moreMelrose Resources starts Bulgarian gas production
4th Nov 2010 07:58
Oil and gas group Melrose Resources has announced its first production from gas fields off the Bulgarian coast. The Kavarna and Kaliakra fields will today be opened by Bulgaria's Minister for Economy, Energy and Tourism. Most of the gas from the fields will be sold to Bulgaria's state-owned gas uti
Read moreFTSE 250 movers: Update sparks Elementis jump
1st Nov 2010 13:49
Elementis' share price has reacted positively to its announcement that it expects to make more money than expected this year as a swell of activity in the oil and gas sector helped the speciality chemicals supplier lift sales by 11% in the third quarter. Mining stocks such as the African pair Kenma
Read moreLondon midday: Inmarsat hit by stake sale talk
4th Oct 2010 12:02
Resource stocks remain a drag on the Footsie which ended the morning in arrears after a moderately firm start. BP, Cairn Energy and Melrose Resources are among the big hitters in the oil sector nursing losses, while in the mining sector Xstrata, Lonmin and Antofagasta are under the cosh. Anglo-Swi
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