London close: Bad day ends badly
27th Oct 2010 16:12
London ended the day heavily in the red as a triple-digit fall on Wall Street knocked an attempted rally by Footsie firmly on the head. Reports suggesting that any new stimulus in the US will be smaller than expected hit the miners with Kazakhmys, Xstrata and Rio Tinto the worst performers. Britis
Read moreLondon afternoon: Rally fizzles out
27th Oct 2010 14:23
Expectations of a weak opening on Wall Street put an end to London's attempt to move into positive territory, and losses lengthened again over the lunch time session. Reports suggesting that any new stimulus in the US will be smaller than expected have knocked the miners with Kazakhmys, Xstrata and
Read moreLondon midday: Miners keep Footsie subdued
27th Oct 2010 11:58
Footsie has dragged itself off the lows seen earlier in the morning but with weak metal prices hitting mining shares, the index is not making much headway. Reports suggesting that any new stimulus in the US will be smaller than expected have also knocked the miners with Kazakhmys, Xstrata and Rio T
Read moreBroker tips: ARM, CSR, Desire, Rockhopper
27th Oct 2010 10:40
Chip designer ARM Holdings has been short of friends this week, with both KBC Peel Hunt and Panmure Gordon suggesting the share price is a bit toppy, and now Nomura Securities has weighed in with a downgrade to its fourth quarter earnings forecast. CSR's third quarter results "were in line with exp
Read moreBroker snap: Westhouse still has Desire for Rockhopper
27th Oct 2010 10:39
Westhouse Securities has reminded investors that oil explorers tend to have more failures than successes, and believes that despite some disappointing results from drilling in the Falklands recently, local operators Desire Petroleum and Rockhopper Exploration are still worth a punt. The two compani
Read moreDesire runs hot on oil find rumours
27th Oct 2010 08:22
The share price of Falkland Islands oil explorer Desire Petroleum soared on Wednesday morning as rumours swirled around the market that the company had struck oil. The share price, which closed last night at 66.75p, raced ahead to 150p in the middle of the morning, though dealers were at a loss to
Read moreSmall caps: Argos/Rockhopper, Kedco, STV...
21st Oct 2010 16:08
Argos Resources and Rockhopper Exploration have both signed contracts for a seismic survey of their prospect in the Falklands Basin with Polarcus, the marine geophysical company. The oil and gas exploration groups will acquire a 3D seismic survey over their respective locations, as well as adjacent
Read moreBrokers welcome Rockhopper fund raising
19th Oct 2010 16:24
Rockhopper, the North Falkland Basin oil and gas exploration company, has completed the placing it announced yesterday. The company raised £206.3m (gross) through the placing of 65.5m shares at 315p each. The new shares represent about 34% of the enlarged share capital of the company. Proceeds fro
Read moreDesire draws blank at Rachel
15th Oct 2010 07:55
Desire Petroleum's 14/15-1 well on the Rachel prospect in the North Falkland Basin, has reached a total depth of 2,877 metres, but initial wireline logging showed no oil or gas. "The Rachel well has provided much new valuable data on the distribution of the reservoir targets within the Eastern Flan
Read moreLondon close: Strong gains for FTSE 100
13th Oct 2010 16:36
Footsie moved up gear following a strong start on Wall Street, and was nearly posting triple-digit gains at trading's close. US stocks are going well following strong results from processor group Intel and banking giant JP Morgan and strong indications from the Federal Reserve that further stimulus
Read moreLondon afternoon: Still up over 1%
13th Oct 2010 14:45
The leading index broke above 5,750 briefly ahead of the opening bell on Wall Street, its highest since the end of April, led by a powerful mining sector. US stocks have started well - the Dow Jones is up almost 70 points - following strong results from Intel and JP Morgan and strong indications fr
Read moreBroker tips: Bodycote, Rockhopper, C&C
13th Oct 2010 13:01
Brokers are scurrying to bump up their full year earnings estimates for Bodycote after a strong third quarter update from the engineering firm. Improved operating profit has forced FinnCap to increase its estimates, adjusting pre-tax profit from £34.1m to £41.1m, bumping earnings per share up 20% f
Read moreBroker snap: Rockhopper fall overdone
13th Oct 2010 12:43
The old saying of 'what goes up, must come down' appears to apply to Falklands oil explorer Rockhopper Exploration but Westhouse Securities thinks Wednesday morning's 14% fall was an over reaction. As a result of a delay in a new competent person's report due to limited available data the company
Read moreLondon midday: Footsie boards the Fed express
13th Oct 2010 12:05
Hints from the US Federal Reserve that it will resume its bond buying programme sooner rather than later galvanised the UK market in the morning session with mining stocks going particularly well. Xstrata, Anglo American, Rio Tinto and Antofagasta are the pick of a mining sector buoyed by the pros
Read moreLondon open: Wall St rally boosts Footsie
13th Oct 2010 08:48
Last night's recovery on Wall St following the Federal Reserve's hint at further stimulus measures has boosted London early on despite a big bank cash call. Standard Chartered, the emerging markets focused bank, is preparing for stricter capital requirements for banks with a £3.26bn cash call. The
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