UPDATE: Thursday broker round-up
3rd Nov 2011 09:03
Tate & Lyle: Panmure Gordon raises target from 615p to 645p, keeps hold rating. Marks&Spencer: Credit Suisse cuts target to 345p from 390p, stays at neutral. Next: UBS ups target from 2,600p to 2,800p, buy recommendation unchanged. St. James's Place: UBS downgrades from buy to neutral, target red
Read moreSterling third quarter disappoints
19th Oct 2011 08:46
Oil and gas firm Sterling Energy saw lower earnings and revenues in the third quarter. Revenue for the quarter fell to $2.87m (2010 Q3: $6.18m) although production equalled that of the corresponding period at an average 622 barrels of oil per day (bopd) (2010 Q3: 21 bopd). Earnings before intere
Read moreLondon close: Flat finish as Carnival and Imperial warn on profits
13th Jun 2011 17:07
Shares finished slightly higher on another choppy day for the FTSE 100, with bid-talk surrounding ENRC helping offset profit warnings from Imperial Tobacco and Carnival. Imperial Tobacco fell back after it slashed profit expectations for its Spanish business as competition in the country forced it
Read moreLondon midday: FTSE 100 fights back
13th Jun 2011 12:15
Shares have climbed higher after an indifferent start, with mining stocks and banks sending the top share index higher. Imperial Tobacco is lower though after it slashed profit expectations for its Spanish business as competition in the country forced it to cut prices for cigarettes. Imperial, whos
Read moreSterling Energy slumps on flow test setback
13th Jun 2011 11:34
Sterling Energy lost a quarter of its value in early trading on Monday, sinking to a 52-week low, after a disappointing open hole flow test at its Sangaw North-1 well in Kurdistan. The well flowed at a stabilised rate of around 4.6m standard cubic feet of gas and 7,280 barrels of formation water pe
Read moreSterling has better luck second time round
25th Mar 2011 15:56
Oil and gas firm Sterling Energy has updated the market on operations in the Sangaw North block in Kurdistan, in which it has a 53.33% working interest. The company said that the side-tracked wellbore of Sangaw North number one well has been drilled to a depth of 3,360 metres, into the top of the J
Read moreSmall cap round-up: Adventis, Alexon, Somero...
27th Jan 2011 17:48
Marketing agency Adventis' healthcare business has experienced a 'very considerable' downturn and will post a £0.26m loss for the full year. Full year results may also contain a significant goodwill impairment charge. For the full year underlying profits will be approximately £0.45m. Clothing gr
Read moreSterling struggles with Kurdistan problems
6th Jan 2011 12:55
Sterling Energy is struggling with the corrosive gas seeping into its Sangaw North block in Kurdistan. The gas has been stopped but the pipe has been damaged. Sterling says operations to retrieve the drill pipe have been challenging with it being recovered in lengths of between 1 metre and 120 met
Read moreMishap for Sterling Energy
23rd Nov 2010 15:33
Shares in Sterling Energy have lost nearly one-eighth of their value after the oil and gas explorer reported a mishap at its well in Kurdistan in Iraq. The well is on the Sterling operated Sangaw North block, where Sterling has a 53.33% working interest. The Sangaw North-1 exploration well was dri
Read moreChallenges ahead for Sterling
4th Nov 2010 10:58
Sterling Energy shares slipped after it noted operational "challenges" in a number of prospects. Shares fell 4% on a comment that "drilling operations remain challenging" at its Sangaw North #1 well in Kurdistan. Flow test of two zones have demonstrated that hydrocarbons are present but neither te
Read moreLondon close: Second wind lifts Footsie higher
20th Sep 2010 16:40
A strong start on Wall Street ensured Footsie finished with good gains having started the day on a strong footing. US shares moved ahead including housebuilder and economic bellwether Lennar, which beat profit forecasts. Part-nationalised banking giant Lloyds Banking held up well after it was ann
Read moreLondon afternoon: Lloyds up as Daniels names exit date
20th Sep 2010 14:29
Stocks gave up a proportion of their gains over the lunch time session despite expectations of a firm start on Wall Street. Part-nationalised banking giant Lloyds Banking is holding up well after it was announced that chief executive Eric Daniels is to retire in a year's time. The move was not unex
Read moreLondon midday: US coast guard verdicts lifts BP
20th Sep 2010 12:09
Investors are in an optimistic frame of mind ahead of the Federal Reserve's Federal Open Market Committee (FOMC) meeting tomorrow. The 'glass half full' crowd are expecting the FOMC to announce further measures to revitalise the global economy. Barely a dozen Footsie constituents are in the red, an
Read moreLondon open: Bright start for blue chips
20th Sep 2010 08:37
UK blue chips have made good ground in early dealings with oil and mining groups in demand. BP is the top performer after the US coast guard signalled that the oil spill into the Gulf of Mexico has been permanently sealed. US authorities described the leak from the Macondo well in the Gulf of Mexic
Read moreFrustrating drilling results for Sterling
20th Sep 2010 07:57
Sterling Energy, the oil and gas company with interests in the Middle East and Africa, has had mixed results with its latest exploration well drill tests in Kurdistan. The Sangaw North number one exploration well has been drilled to an intermediate depth of 2,395 metres and open-hole wire-line log
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