Premier Oil closes Kenyan well, partner cites failure to find hydrocarbons
23rd Feb 2015 17:44
Premier Oil revealed on Monday that it has officially left the Badada-1 exploration well in Kenya. The company drilled the well within budget, according to its statement, and plugged it in compliance with standard regulations. The listed company gave no in-depth explanation as to why it deserted the
Read moreFTSE 250 movers: Ladbrokes hit by job cuts, DS Smith boosted by Duropack acquisition
23rd Feb 2015 16:33
Ladbrokes topped the fallers after it was reported on Sunday the company would be announcing the closure of roughly 50 betting shops due to the challenge of tax rises and regulation. The company is expected to outline the plans at its full-year results presentation on Thursday. Premier Oil was lower
Read moreFTSE 250 movers: Petra Diamonds boosted by higher production guidance, Man Group stonger on upgrade
19th Feb 2015 16:00
Petra Diamonds topped the risers after raising its production guidance from 3.2m to 3.3m carats for the 12 months to 30 June. "Our expansion programmes are on track at all operations, and production is expected to grow to about 3.3m carats in 2015 and to about 5m carats by financial year 2019," said
Read moreSector movers: Oil stocks track crude prices lower ahead of stockpile data
19th Feb 2015 15:41
Oil producers and energy services stocks were hit on Thursday by a tumble in the price of crude on the back of speculation that US government data will show that oil stockpiles rose to a record high last week. Industry group, The American Petroleum Institute, said on Wednesday that stockpiles of cru
Read moreFTSE 250 movers: Miners and oil companies trading higher, Halma hit by downgrade
9th Feb 2015 13:51
Halma took its biggest one day fall since May 2010, as JP Morgan downgraded the stock from 'neutral' to 'underweight'. Man Group was among the fallers despite an increased price objective from analysts at Liberum Capital, from 145p to 213p. Polymetal International and Kaz Minerals were putting in d
Read moreFTSE 250 movers: Oil stocks rise, TalkTalk falls on dissapointing outlook
3rd Feb 2015 14:19
The news that BP had slashed its investment budget for this year by $4bn-6bn gave crude prices a boost, and in turn oil stocks, as the commodity extended gains made over the last few days on speculation of slowing output. Brent rose 3.9% to $56.86 a barrel, lifted further by ongoing strikes at oil r
Read moreFTSE 250 movers: Afren sweating on Seplat deadline, Chinese stocks hit
19th Jan 2015 14:03
Takeover target Afren was weaker as the deadline for suitor Seplat to return to the table with a possible offer was extended. The Nigerian group approached its FTSE 250 peer last month about a potential tie-up and has until 17:00 on Friday 30 January to 'put up or shut up', according to takeover rul
Read moreFTSE 250 movers: Oil stocks gain, Bovis Homes falls despite profit gains
15th Jan 2015 15:05
The energy sector was dominating the risers list on Thursday as oil prices began to rebound slightly. Afren, Premier Oil, Soco International and Cairn Energy were all on the incline. Savills was also increasing after the estate agency said revenues and profits in December had "significantly exceed[e
Read morePremier Oil driven to cut spending by 40% due to crashing oil prices
14th Jan 2015 11:23
Oil and gas explorer Premier Oil has been forced to cut spending on development to $600m and label its budget "subject to further review" due to plummeting oil prices. The company looked to negotiate with key contractors in an effort to reduce costs as despite a 6% increase in revenue from 2013, an
Read moreSector movers: Energy stocks tank as oil prices continue to tumble
12th Jan 2015 15:21
Another tumble in the price of oil knocked stocks in the energy sector on Monday with investors concerned that the continued decline in crude prices will continue, while producer Afren lost over a quarter of its value after a disappointing project update. Brent crude was down 4.7% at $47.75 a barrel
Read moreSector movers: Resource stocks drop as crude prices sink
5th Jan 2015 15:53
Stocks in the resource sectors dropped sharply on Monday as shares tracked commodity prices lower, with oil and copper prices extending multi-year lows. Oil producers such as Shell, BP, Tullow Oil, Premier Oil and Afren were trading with heavy losses. Energy services stocks were also under pressure,
Read moreFTSE 250 movers: Energy sector struggles as oil price continues to slide
5th Jan 2015 14:04
Oil producers such as Afren and Premier Oil, and energy services firms Wood Group, Hunting and Petrofac, were all falling sharply on Monday as the price of oil continued to sink. Brent crude dropped below $55 a barrel (bbl) for the first time since May 2009. Afren was also continuing to decline afte
Read moreLondon open: UK stocks retreat from three-week high on Greek politics, oil prices
30th Dec 2014 08:26
Political uncertainty in Greece and falling oil prices were weighing on UK stocks on Tuesday as markets pulled back from a three-week high. The FTSE 100 was down 0.6% at 6,594 in early trading, snapping an eight-day winning streak. The index settled at 6,633.51 on Monday, its highest close since 8 D
Read moreLondon close: Santa Rally continues as UK stocks rise for sixth straight day
23rd Dec 2014 16:51
UK stocks rose again on Tuesday as the Santa Rally continued into its sixth straight day, with markets boosted by some upbeat economic data from the States. Third-quarter US annualised gross domestic product (GDP) growth was revised to 5% from an initial estimate of 3.9%, representing the strongest
Read moreLondon midday: Stocks rise but gains pared after UK GDP data
23rd Dec 2014 11:56
UK stocks rose again on Tuesday as the pre-Christmas rally continued, though gains were trimmed by lunchtime after some disappointing data. On a day lacking of corporate news, investors were also showing caution ahead of a flurry of economic indicators Stateside. Stock futures on Wall Street were on
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