Broker tips: British Airways, Tullow Oil, Unite
17th Sep 2009 13:03
The share price of British Airways has almost doubled since the beginning of July but broker Goldman Sachs says there is still time for investors to get on board. The US investment bank has added the British airline to its 'conviction buy' list, and suggested that despite the strong gains already
Read moreBroker snap: Tullow to be transformed by big discoveries
17th Sep 2009 12:54
It's a case of 'another day, another major oil discovery' for Irish oil company Tullow Oil which has announced two important finds this week that Panmure Gordon thinks have the ability to transform the outlook for the company. Following on from Monday's announcement about the discovery on the Venus
Read moreFTSE 100 movers: Balfour boosted by deal news
17th Sep 2009 12:22
Balfour Beatty, the construction group, tops the risers today after it announced a rights issue of up to £353m to fund the acquisition of Parsons Brinckerhoff, a US consultancy business. The Parsons Brinckerhoff acquisition is conditional on shareholder approval and the completion of the rights is
Read moreLondon midday: Traders get on board British Airways
17th Sep 2009 12:08
Risers outnumber fallers among FTSE 100 constituents by around three to one as London's strong run continues, despite flat retail sales in August. British Airways has been the blue-chip stock to own in the third quarter of 2009 with its share price virtually doubling since the beginning of July. T
Read moreLondon open: Rise continues
17th Sep 2009 08:15
Miners are giving London's blue chips a boost in early dealings, while Tullow Oil gained on the second oil find in as many days. Fresnillo, Kazakhmys, Antofagasta, Lonmin and Xstrata are all among the top performers. Tullow Oil gained after announcing the discovery of a significant oil field at N
Read moreLondon 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
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