Broker 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
Read moreTullow prices £925m placing at 1,150p
27th Jan 2010 14:07
Tullow Oil shares fell back Wednesday after its £925m fundraising was priced at a discount of more than 5% to last night's closing price. The placing of 80.43m shares with institutions at 1,150p each will finance activities in Africa and comes just a day after shareholders voted to buy Heritage Oil
Read moreLondon afternoon: Stocks stuck in reverse
27th Jan 2010 13:38
London's attempts at a rally fizzled out over the lunch time session though the Footsie is trying once more at the mid-afternoon point to climb the mountain. Mining stocks continue to impede the blue-chip index's progress, however, on enduring concerns that the Chinese authorities will introduce f
Read moreLondon midday: Miners pull blue chips lower
27th Jan 2010 12:02
Footsie is trying to rally after an early sell-off on fears that China is planning fiscal measures to cool growth. Mining stocks once again feature prominently among the laggards, with Xstrata, Fresnillo and Anglo American the worst hit. Mining giant Vedanta Resources is also lower despite seeing
Read moreLondon open: Ugly start in London
27th Jan 2010 08:52
It's an ugly start In London with only Johnson Matthey and Amec in the blue, while financials, miners and oils are under heavy selling pressure. Far East markets continued to fall Wednesday on continuing fears that China is planning fiscal measures to cool growth, adding to the unease this morning.
Read moreLondon pre-open: Stocks to beat retreat
27th Jan 2010 07:38
Leading shares are set to open sharply lower after Wall Street gave up a 90-point gain in the last few hours of trade to end flat on the day. Far East markets also continued to fall Wednesday on continuing fears that China is planning fiscal measures to cool growth. Futures prices are currently i
Read moreTullow flags £1bn fundraising
27th Jan 2010 07:03
Oil company Tullow is raising £1bn to finance activities in Africa just a day after shareholders voted to buy Heritage Oil's 50% stake in Blocks 1 and 3A in Uganda. The company said it is placing 80.43m shares with institutional investors at an as yet undisclosed price. The shares were trading at £
Read moreUpdate: Tullow to buy Heritage's Uganda assets
26th Jan 2010 16:32
Tullow Oil said it has agreed to buy Heritage Oil's assets in Uganda for up to $1.5bn, gatecrashing Heritage's previous deal with Italy's Eni. The terms of the deal include a consideration of $1.35bn cash and a further contingent, deferred consideration of up to $150m cash or an interest in a mutua
Read moreLondon close: Footsie snaps 4-day losing streak
26th Jan 2010 16:25
Top stocks staged a recovery late afternoon as Wall Street reacted well to US consumer confidence at a 16-month high. Standard Chartered was a bright spot after Nomura said the recent share price fall represents a buying opportunity. The Japanese broker upgraded the Far East focused bank to 'buy'
Read moreWednesday preview: Tullow, Britvic, Renishaw
26th Jan 2010 15:52
Oil company Tullow Oil, due to make a fourth quarter update on Wednesday, will be in celebratory mood after Heritage Oil shareholders rubber-stamped Tullow's purchase of Heritage's 50% stake in Blocks 1 and 3A in Uganda. Italian oil giant Eni agreed in November to buy Heritage's Ugandan interests f
Read moreFTSE 100 movers: Resource stocks undermine Footsie
26th Jan 2010 14:18
China worries continue to weigh on miners, with the likes of Fresnillo, Xstrata and Kazakhmys leading the sector lower. Reports that several Chinese banks increased their reserves after being told to last week by China's central bank hit an already jittery market for mining shares. Energy stocks f
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