Brokers 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
Read moreRockhopper estimates in trouble
13th Oct 2010 07:47
Rockhopper, the oil and gas explorer that's found oil in the North Falkland Basin, is mulling fundraising options and warns resource estimates for its Sea Lion discovery are currently about 30% less than predicted in June due to a lack of data. The company says it hasn't had enough time to collect
Read moreThursday tips round-up: Moss Bros, Rockhopper, Domino's
30th Sep 2010 06:48
Moss Bros, which hires and sells men's suits, delivered a mixed bag for the six months to 31 July. It has no debt and analysts tip it return to profitability in the year to January 2012. So hold on, says the Independent. There will no doubt be a lot of back slapping at Rockhopper Exploration's ann
Read moreOil companies round-up: Rockhopper, Caza Oil, Sound Oil
29th Sep 2010 14:42
Interest in North Falkland Basin oil and gas explorer Rockhopper is so high that the company has had to move to a bigger venue for its annual general meeting (AGM). The AGM, scheduled to start at 11:45am on Thursday, September 30, will now take place at Gibson Hall, 13 Bishopsgate, London EC2N 3BA.
Read moreLondon close: Late slip sends Footsie lower
27th Sep 2010 16:43
After a sluggish day that saw shares mostly hovering around the zero mark, Footsie finished lower, in line with weakness in other markets. Worries over the Eurozone debt situation were at the fore again, sending shares in mainland Europe and the US lower, after the rating agency Moody's downgraded
Read moreLondon afternoon: Back to square one
27th Sep 2010 14:20
The market really can't make up its mind today, with the Footsie now back at Friday's closing level after opening firmer and then turning lower this morning. Unilever is the best performer. The household products group is paying $3.7bn (£2.3bn) in cash for America's Alberto Culver, adding the TRESe
Read moreLondon midday: Blue-chips turn south
27th Sep 2010 12:06
Investors with portfolios weighted towards second-liners are happier than those more exposed to blue-chip stocks, as the FTSE 100 turns south while the FTSE 250 pushes ahead. Wolseley, supplier of goods to the plumbing and heating trade, is to shift its tax base to Switzerland and resume paying div
Read moreRockhopper plans next move after Sea Lion 1
27th Sep 2010 07:51
North Falkland Basin oil and gas explorer Rockhopper confirmed today it has plugged and abandoned the Sea Lion 1 well while it pores over the drill and test results. Sea Lion 1, the first oil discovery in the area, said it now has to look at the data and plan the next phase in proving the reserves
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