London pre-open: Surge to continue
17th Sep 2009 07:47
With Wall Street finishing higher yesterday traders in London see no reason for the party to end this side of the Atlantic, and blue-chip shares are forecast to open mostly firmer. The FTSE 100 index is expected to open around 46 points higher. A strong performance from B&Q helped DIY retailer K
Read moreTullow discovers 'significant' oil field
17th Sep 2009 07:12
Tullow Oil announced the discovery of a significant oil field at Ngassa which has the potential to be the largest in the basin to date. The Ngassa-2 exploration well in Uganda has encountered 7 metres of oil pay in a 14 metre gross sand. Pressure data acquired through logging operations indicates t
Read moreLondon close: Footsie nears 52-week high
16th Sep 2009 17:03
London raced ahead today, with the FTSE 100 crashing through the 5100 barrier near to a 12-month high, though it stopped short of racking up a triple-digit rise. Mining stocks were responsible for a large proportion of the index's rise as metals prices headed north following comments from Federal
Read moreLondon afternoon: Footsie consolidates gains
16th Sep 2009 14:30
The number of FTSE 100 constituents in the red today is in single figures as investors chase up share prices in the wake of relatively upbeat comments from Federal Reserve Chairman Ben Bernanke last night. Bernanke said the US recession 'is very likely over at this point,' prompting an advance by gl
Read moreFTSE 100 movers: Tullow Oil jumps on big new find
16th Sep 2009 13:24
Tullow Oil is comfortably the best performer as it joined a growing list of companies announcing huge oil finds in recent weeks. The Irish group is part of a consortium led by US group Andarko, which also includes Repsol and Woodside, which made the discovery on the Venus-B1 well offshore Sierra Le
Read moreLondon midday: Footsie breaks through 5100
16th Sep 2009 11:58
Leading shares rose steadily throughout the morning session pushing the FTSE 100 index through the 5100 barrier. Mining stocks are responsible for much of the rise as metals prices head north after Federal Reserve Chairman Ben Bernanke said the US recession 'is very likely over at this point' in a s
Read moreLondon open: Bright start for Footsie
16th Sep 2009 08:42
London's blue chips have made a strong start following on from Wall St's rise after US Fed chief Ben Bernanke called the US recession over. Miners are pushing on in sympathy with Bernanke's comments led by the majors Xstrata, Rio Tinto and Anglo American. Tullow Oil is the best performer after the
Read moreNew find boosts Tullow Oil
16th Sep 2009 07:34
Shares in Tullow Oil have been boosted by the announcement of an oil discovery at the Venus exploration well off the West African coast. The well is 40%-owned by New York-listed Anadarko Petroleum, in which Tullow has a 10% holding. 'The Venus discovery confirms the existence of an active petroleu
Read moreWednesday newspaper round-up: Lloyds Banking, Tullow Oil, Barclays
16th Sep 2009 06:15
The European Commission has warned Lloyds Banking Group that it may have to split off Halifax as punishment for the billions of pounds of state aid that it has received. Neelie Kroes, the Competition Commissioner, has yet to make a final decision, but banking sources say it is clear that she is pla
Read moreLondon close: Stocks gain on economic cheer
15th Sep 2009 16:40
Footsie put further distance between itself and the 5,000 point mark as the global economic outlook brightened. The US recession is 'very likely' to have ended, Federal Reserve chairman Ben Bernanke said. Here, the UK Consumer Prices Index in August showed an annual increase of 1.6%, the lowest si
Read moreLondon afternoon: Weak retailers out of step
15th Sep 2009 14:18
Leading shares are consolidating the morning's gains, though retailers decline to join the party. Confusion and speculation surrounds the acquisition and fund raising intentions of general insurer RSA. Reports in today's FT suggest RSA indicated at a recent investors conference that it was looking
Read moreLondon midday: RSA's bid plans unclear
15th Sep 2009 12:11
After a quiet but tospy-turvy session the blue-chip index ended the morning in positive territory, despite the UK inflation picture not improving as much in August as expected. The UK Consumer Prices Index in August showed an annual increase of 1.6%, the lowest since level since February 2005 and do
Read moreLondon close: Footsie fights back
14th Sep 2009 16:34
After toiling in the red all day, Footsie made a late push into positive territory to close above the 5,000 point mark. Miners were weak spot. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile co
Read moreFTSE 100 movers: Oil shares slip with crude price
14th Sep 2009 14:15
Oil shares have taken over from the miners as the weak spot today. The price of crude has fallen back to under $69 per barrel, clipping recent gains in Cairn Energy, Tullow and BG, which announced a monster oil find in Brazil last week. Marks & Spencer picked up as Morgan Stanley upped its price ta
Read moreLondon afternoon: Resource stocks lose favour
14th Sep 2009 14:11
Resource stocks are friendless today as oil and metals prices shift into reverse. Reports over the weekend suggested some commentators are concerned by the amount of speculative money that is flowing into the minerals sector. Meanwhile copper prices have fallen for the fourth day in a row on over-s
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