Broker tips: Premier Foods, Glencore, Rockhopper
1st Jul 2011 13:02
After yesterday's profits warning, Panmure Gordon has slashed its full-year profit estimate for the current year and lowered its target price on Hovis bread and Branston pickle maker Premier Foods. Panmure Gordon notes that the company regards the causes of its £35-40m downgrade in profits guidance
Read moreBroker snap: Cash aplenty at Rockhopper
1st Jul 2011 12:46
Falklands oil explorer Rockhopper Exploration has brought out its profit and loss figures but Matrix says the numbers are largely irrelevant, with the cash balance the most vital thing on which to focus. "We think our estimate for cash at end June of $230m looks about right (there was $271m as of 3
Read moreFalklands oil no longer a dream, says Rockhopper
1st Jul 2011 07:49
Rockhopper Exploration, the AIM listed oil firm, has reasserted its belief it has found a minimum of 155m "recoverable" barrels of oil in the seas off the Falkland Islands. The statement accompanies its final results for 2010/11 which also show significantly increased funding with two new stakes in
Read moreRockhopper discovery could make Argentina hoppin' mad
27th Jun 2011 08:45
Rockhopper Oil, the AIM listed exploration company says it has found "commercially viable" levels of oil off the north coast of the Falkland Islands. The announcement follows a test carried out by the Ocean Guardian drilling rig which lasted for 48 hours and achieved a "flow rate" of 5508 "stock t
Read moreLondon close: FTSE 100 slumps after US jobs shock
1st Jun 2011 16:38
After a directionless start, the top share index fell deep into the red ahead of the close, with some unfavourable US economic data denting sentiment. Rio Tinto held out to finish with gains. The mining giant announced today that it is to establish a large-scale presence in commodity hungry China
Read moreSea Lion success for Rockhopper
1st Jun 2011 14:52
Shares in Rockhopper Exploration jumped higher on Wednesday after an appraisal well at its Sea Lion development shows a "significant reservoir package and hydrocarbon column". The 14/10-5 appraisal well encountered 94m net pay in high quality reservoir. "Wireline logging indicates that reservoir q
Read moreLondon close: S&P scares off investors
18th Apr 2011 17:02
Having started the day with hopes of rising back above 6,000, the top share index hurtled in the opposite direction to fall below 5,900 after debt ratings firm Standard & Poor's (S&P) put the cat among the pigeons by downgrading the outlook for US sovereign debt. Though S&P affirmed the USA´s 'AAA'
Read moreDesire slumps after abandoning well
18th Apr 2011 13:09
Falklands oil explorer Desire Petroleum crashed to a 52-week low after plugging and abandoning the 14/15-3 well on the Ninky prospect in the North Falkland basin. Oil shows were encountered while drilling but not enough to justify continued drilling. Analysis of the drilling results suggests that t
Read moreBroker snap: Rockhopper technical update cheers Goldman
6th Apr 2011 16:02
North Falkland Basin oil and gas explorer Rockhopper's technical announcement on 4 April was well received by Goldman Sachs analysts. Goldman writes: "A conservative 20% recovery factor on the low case oil in place gives a recoverable volume of 100 mn bls which we would believe to be comfortably co
Read moreLondon close: Shares edge higher on quiet day
4th Apr 2011 16:43
Having hovered around its starting point for much of the day, the top share index finished just a few points higher. Vodafone's sale of what it considers non-core minority stakes continues with the sale of its 44% holding in French mobile phone group SFR to French media group Vivendi for €7.75bn (£
Read moreLondon midday: Shares seeking direction
4th Apr 2011 12:25
Shares are still seeking direction after a slight recovery following a lower start in the morning. It has been a morning for asset sales with both telecoms giant Vodafone and oil colossus BP pressing on with their respective asset sale programmes. Vodafone's sale of what it considers non-core min
Read moreRockhopper leaps on appraisal of test drill results
4th Apr 2011 09:13
The North Falkland Basin oil and gas exploration company Rockhopper is on the bounce after a favourable technical update regarding its appraisal well 14/10-4. The company said porosity - the ratio of the void volume in the rock to the total volume of the rock is in the range 15% - 27%, with an aver
Read moreLondon close: Stocks hold on to gains
21st Mar 2011 16:17
The FTSE 100 remained broadly flat since 0900, holding on to gains made in early trading. Sentiment was boosted by signs of progress being made in the handling of the nuclear crisis. Two reactors at the Fukushima Daiichi nuclear power plant in Japan were successfully brought into cold shut down unde
Read moreLondon afternoon: Stocks consolidate gains
21st Mar 2011 14:53
Stocks have largely been in consolidation mode in the afternoon session after a strong performance this morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm will become number one, but both AT&
Read moreLondon midday: Stocks back on the climb
21st Mar 2011 12:23
Footsie finished the morning 10 points or so below its high for the day after regaining impetus following a mild spell of profit taking mid-morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm
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