London open: Early gains for Footsie
18th Nov 2009 08:48
London's top stocks have opened higher following yesterday's drop, which brought a 4-day winning streak to an end. Troubled broadcaster ITV has confirmed the appointment of former Tory party MP Archie Norman as its new non-executive Chairman. He will take up the role in January 2010, when current e
Read moreLondon pre-open: Shares to turn positive again
18th Nov 2009 07:33
London's top stocks are expected to open around 10 points higher following yesterday's drop which brought a 4-day winning streak to an end. Troubled broadcaster ITV has confirmed the appointment of former Tory party MP Archie Norman as its new non-executive Chairman. He will take up the role in Jan
Read moreMelrose ups production forecast
18th Nov 2009 07:02
Oil and gas firm Melrose Resources has raised its estimate of average daily production for the year after a productive third quarter. Production in the third quarter was around 25% higher than in the third quarter of 2008, reflecting high output from the company’s existing Egyptian fields and also
Read moreFTSE 250 movers: IMI motors higher
9th Nov 2009 13:48
Shares in IMI have jumped after the engineer said it expects earnings this year to come in "materially higher" than previously forecast as higher margins have offset a sharp fall in revenues. JKX Oil & Gas is higher after saying oil and gas production levels were both higher in the third quarter. T
Read moreMelrose gets approval for Bulgarian gas field
6th Nov 2009 08:35
Melrose Resources said it has received approval from the Bulgarian government to develop the Kavarna gas field, which contains estimated reserves of 24 billion cubic feet. The group said it has also formally received approval from the Romanian National Agency of Mineral Resources to conduct petrole
Read moreFTSE 250 movers: Broker boost lifts Easyjet
17th Sep 2009 12:11
Easyjet is flying high after Morgan Stanley lifted its rating on the budget airline to 'overweight' from 'equal-weight'. It also lifted its target price on the group, to 460p from 340p. Among the fallers is building and civil engineering contractor Kier Group, which reported annual pre-tax profit
Read moreMidcap round-up: JKX Oil, Melrose, SVG Capital, ...
28th Aug 2009 09:45
Oil explorer JKX Oil saw the lower oil prices crimp profits for the half-year but said its second half performance is expected to be in line with expectations. Pre-tax profit slumped to £44.6m from £83.5m before revenues fell to $78.5m versus $116.8m in the same period last year. Revenues were wei
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 moreMelrose ups production guidance
26th Aug 2009 08:12
Oil and gas firm Melrose Resources saw first half revenue and profit tumble as a result of lower oil prices and the planned cessation of production from its Galata field. Revenue in the six months to 30 June 2009 fell to $97.6m from $234m the year before. The company achieved an average price per
Read moreLondon pre-open: Small gains ahead
11th Aug 2009 07:35
London's top stocks look set to open marginally higher with traders expecting Footsie to add 5 points in early trading. Clive Cowdery's insurance investment vehicle Resolution will be catapulted into the FTSE 100 index after life insurer Friends Provident accepted a new £1.86bn bid on Tuesday. Fr
Read moreMelrose cheers successful Kaliakra well
11th Aug 2009 07:23
Melrose Resources said gas samples obtained from its Kaliakra No.2 well in Bulgaria confirmed that the reservoir has very good properties, with an average porosity in excess of 30% high gas productivity. Given the quality of the reservoir, it was not necessary to run flow tests in the well and it h
Read moreWednesday tips round-up: Britvic, Mothercare, BG
15th Jul 2009 06:37
The sun shines, ergo, the drinks companies do rather nicely. When the group in question, Britvic, owns the Robinson squash brand and Wimbledon turns out to be more entertaining than usual, you would expect it to release good news to the market. Britvic is likely to have a good time of it over the
Read moreSmall caps round-up: NetDimensions, Ocean Power, Qonnectis...
14th Jul 2009 12:59
Training software provider NetDimensions traded in lien with expectations in the first half of 2009. Cash balances at the end of June stood at $6.8m, up from $5.3m at the end of 2008. The company said its cash balance is equivalent to 16.5p in cash per share, a few pence above the current share pric
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