FTSE 100 movers: Broker upgrade boosts Tullow
9th Jun 2009 13:11
Tullow Oil was in favour today after an upbeat note on the company from Deutsche Bank. Tullow remains Deutsche's top pick among UK oil explorers and producers, following a spectacular run of success with its exploration prospects. Meanwhile, Tullow's next well, Ngassa-2, is 'undoubtedly the most bi
Read moreLondon midday: Defence stocks beat a retreat
9th Jun 2009 12:05
Leading shares are now lower, dragged down by expectations of a weak start on Wall Street and by a trimming of the strong early gains made by miners. Lloyds Banking Group is still in the blue on reports it is to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester. Gla
Read moreLondon close: Late rally not enough
8th Jun 2009 17:01
Footsie came off its lows towards the close of trading Monday but still finished lower, held back by a weak mining sector. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofagasta all featured among the ten worst perfor
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
Read moreBroker tips: Defence and aero stocks, JD Sports, Greene King
8th Jun 2009 13:01
Goldman Sachs has been reviewing the aerospace and defence sector and foresees a tough time from 2011 onwards for companies with a large exposure to the UK and US defence markets, on expectations of a reduction in military operations in Iraq and Afghanistan. Goldman Sachs has downgraded defence sto
Read moreBroker snap: BAE to feel the pinch, says Goldman
8th Jun 2009 12:46
Goldman Sachs has been reviewing the aerospace and defence sector and foresees a tough time from 2011 onwards for companies with a large exposure to the UK and US defence markets, on expectations of a reduction in military operations in Iraq and Afghanistan. The broker said that 2011 should mark th
Read moreLondon midday: Miners weigh down Footsie
8th Jun 2009 12:19
London's blue-chip index is doing its usual trick of following the miners, which today are in a down phase. The worst performers in the mining sector are Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo and Antofagasta. Hochschild Mining follows
Read moreFTSE 100 movers: Lloyds depressed by rump placing
8th Jun 2009 10:39
Lloyds Bank slumped by more than 7% as the book runners for its £4bn open offer and placing attempted to place £500m of shares no taken up by shareholders. The issue itself was 87% taken up, which included the government taking up its 43% stake pro-rata. If the book runners don't manage to find b
Read moreLondon open: Bank news knocks Footsie
8th Jun 2009 08:40
Banking shares have dominated early trading after news from both Barclays and Lloyds, but investors have reacted cautiously in both instances. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), which includ
Read moreRolls-Royce wins £38m anchor handling deal
22nd May 2009 10:05
Rolls-Royce has won a £38m contract to supply a newly-developed anchor handling system that will enable floating oil platforms to be secured to the seabed off the coast of Brazil. The system has been developed in response to the increase in deep water oil exploration and will be fitted to two vesse
Read moreRolls-Royce wins Malaysian air force contract
13th May 2009 07:51
Aero engine leviathan Rolls-Royce has won a contract to support the Adour engines which power the Royal Malaysian Air Force’s (RMAF) fleet of Hawk aircraft. The contract is worth £75m and covers a five year period. ‘The Adour has been a hugely successful engine and we believe that there are great
Read more