Former UKFI boss buys Lloyds shares
23rd Mar 2010 16:38
Glen Moreno has bought his first shares in Lloyds Banking Group since he was appointed senior independent non-executive director of the company on 1 March. He has bought 50,000 ADRs, which is the equivalent of 200,000 shares, at $3.69 each. That is equivalent to just over 61p a share, making the c
Read moreLondon close: Pension deal boosts BA
16th Mar 2010 17:03
After threatening to hit a new intra-day high the FTSE 100 index saw its advance checked in the final hour of trading as profit takers moved in ahead of the Federal Reserve's decision on interest rates later today. Airline British Airways made a late surge to the top of the Footsie leaderboard as i
Read moreBroker tips: Tullow, John Menzies, JD Wetherspoon
11th Mar 2010 12:53
Patience is a virtue, points out Morgan Stanley as it keeps its 'overweight' rating and 1,500p target price on oil explorer Tullow. The broker said that in April, Tullow should provide investors with some clarity in on the recent purchase of some Uganda assets. Tullow Oil said in January that i
Read moreBroker snap: Good news to come at Tullow
11th Mar 2010 11:23
Patience is a virtue, points out Morgan Stanley as it keeps its 'overweight' rating and 1,500p target price on oil explorer Tullow. The broker said that in April, Tullow should provide investors with some clarity in on the recent purchase of some Uganda assets. Tullow Oil said in January that it
Read moreLondon afternoon: Stocks trade sideways
10th Mar 2010 14:25
The market traded sideways over the lunchtime session allowing the blue-chip index to retain its tenuous position above the 6500 level. Mining stocks are doing their bit to bolster the Footsie as metal prices rise following a sharp increase in imports into China in February. Banks are also doing th
Read moreLondon midday: FTSE 250 stocks shine
10th Mar 2010 12:01
The Footsie is clinging on to positive territory, not helped by the likes of Admiral, BATS, Serco, Schroders, Standard Chartered and TUI Travel trading in ex-dividend form today. The main points of interest this morning were outside of the FTSE 100 index, however. FTSE 250 constituent Tullett Prebo
Read moreLondon pre-open: Shares seen lower
10th Mar 2010 07:32
London's blue chips are expected to open lower on Wednesday with traders forecasting a 10 points drop. Life insurer Standard Life is lifting its efficiency targets for 2010 after delivering 'good profits and healthy cash flow' in 2009. Underlying profit before tax in 2009 rose to £291m from £154m t
Read moreTullow gears up for 'transformational' 2010
10th Mar 2010 07:12
Lower oil prices and production slashed Tullow Oil's net income in 2009, though it had an outstanding year for drilling with 13 out of 15 wells striking oil or gas. Net income fell 92% to £19m in 2009, as sales dipped 16% to £582m due to lower production volumes and commodity prices. Tullow is sche
Read moreTullow gets Gabon boost
1st Mar 2010 07:47
Maurel & Prom has reported more success in drilling on the Onal licence in Gabon where Tullow Oil has 7.5% interest. The exploration well OMOC-N-1, drilled in the Onal AEE, has identified a 111-metre column of oil in the Grès du Kissenda. Pump tests have established a flow of 1,700 bpd of oil (flo
Read moreBroker tips: Tullow Oil, Reckitt, Tate & Lyle
29th Jan 2010 11:35
Oil company Tullow Oil's share price got a battering after it announced a £925m placing this week, but Exane BNP Paribas remains a fan of the stock, and sees a bright side to the fund raising. 'Reassuringly, the company says the proceeds will be used to fund an accelerated exploration drill-out and
Read moreBroker snap: Exane BNP Paribas still likes Tullow
29th Jan 2010 09:49
Oil company Tullow Oil's share price got a battering after it announced a £925m placing this week, but Exane BNP Paribas remains a fan of the stock, and sees a bright side to the fund raising. 'Reassuringly, the company says the proceeds will be used to fund an accelerated exploration drill-out and
Read moreThursday tips round-up: Vedanta, Tullow, Greene King
28th Jan 2010 05:54
There are few large-cap miners whose shares are as geared to commodity prices as India's Vedanta Resources. Last year's share price performance ? a rise of 327 per cent ? said as much. So, too, did yesterday's third-quarter update. The imminent redemption of a $725 million convertible bond at a 40 p
Read moreLondon close: Footsie weakness continues
27th Jan 2010 17:00
Shares continued their weak run of recent days, with the FTSE 100 ending the day deep in the red. Mining stocks fell on enduring concerns that the Chinese authorities will introduce further measures aimed at cooling down the country's overheating economy. Xstrata, Fresnillo and Anglo American are t
Read moreFTSE 100 movers: Latin American hopes for SABMiller
27th Jan 2010 14:30
Shares remain lower and a rally in the FTSE 100 petered out at around lunch time. The index continues to drift downwards in the afternoon. Brokers UBS and Credit Suisse are both positive about brewer SABMiller. UBS highlights the long-term opportunities in the Latin American markets. UBS believes
Read moreSector movers: Beverages up as Britvic fizzes
27th Jan 2010 14:18
Shares in soft drinks group Britvic are fizzing, helping lift the whole beverages sector higher. The Tango maker, which also has the license to sell Pepsi in the UK, said it has seen 'robust' market conditions in the last quarter, but said it remains cautious about the outlook for consumer confiden
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