Tullow output falls 16%
8th Jul 2009 07:03
Tullow Oil says interim revenue will likely fall 23% following a drop in production and lower commodity prices. Revenue for the interim period is put at about £290m, down from £378m in 2008 when oil was trading near $150 a barrel. It's closer to $60 today. It expects annual production to average 5
Read moreWednesday tips round-up: Michael Page, Big Yellow, Cape
8th Jul 2009 06:44
Recruiter Michael Page issued its first-half trading update yesterday, saying that second-quarter profit fell by 45% to £83.8m. Perhaps more worryingly for investors is that it does not see things improving before the start of next year. The Independent dislikes the whole sector and believes the ris
Read moreWednesday preview: M&S, Tullow Oil, UK trade
7th Jul 2009 17:24
After board members of supermarket chain Tesco got a bit of a shock last week at the company's AGM when more than 40% of investors voted against changes to Tesco's share option scheme, it could be the turn of management at food and clothing retailer Marks & Spencer to face the wrath of its sharehol
Read moreLondon close: Late rally fizzles out
6th Jul 2009 16:37
Footsie made a brief attempt to lift itself into the blue in late trading but finished where it spent most of the day: firmly in negative territory. Declining metal and oil prices took their toll on resource stocks. Copper miners Lonmin and Kazakhmys are among the big fallers, despite both stocks b
Read moreLondon afternoon: Defensives in favour as stocks slide
6th Jul 2009 14:26
Footsie is halfway to a triple digit fall as resource stocks drag the market lower, with many pundits suggesting that the market may have bounced back too far since it reversed course in March. Declining metal and oil prices are taking their toll on resource stocks. Copper miners Lonmin and Kazakhm
Read moreLondon midday: Miners drag Footsie down
6th Jul 2009 12:07
Resource stocks have dragged Footise lower and with Wall Street predicted to open lower there is little prospect of a transatlantic boost in the afternoon session. Declining metal and oil prices are taking their toll on resource stocks. Copper miners Lonmin and Kazakhmys are among the big fallers,
Read moreLondon close: US economic data hits Footsie
30th Jun 2009 16:26
It looked like another flat day for the FTSE 100 heading into the second half of the year until shares took a sharp dive following some unappetizing economic date in the US. The US Conference Board's index of consumer sentiment fell to 49.3 in June, down from a revised 54.8 in May. Economists had b
Read moreLondon afternoon: Prices drift lower
30th Jun 2009 15:24
London continues to sleepwalk to the end of the month, with prices drifting lower in light trading after Wall Street opened in negative territory. With the oil futures contract edging steadily higher, heavy fuel users such as airline British Airways and cruise operator Carnival are on the slide. I
Read moreLondon close: Further losses after World Bank cuts forecast
22nd Jun 2009 16:55
Having endured a dull morning London's leading stocks pitched further into the red in the afternoon session after the World Bank cut its 2009 global growth forecast. British Airways was the biggest faller on arch rival Richard Branson's comments that it should be allowed to go bust if its financia
Read moreLondon afternoon: BA runs into turbulence
22nd Jun 2009 14:52
The Dow Jones has opened with a triple digit fall prompting a further softening of prices on this side of the pond. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and fin
Read moreLondon midday: Footsie struggles despite M&A burst
22nd Jun 2009 12:22
Footsie is struggling despite the possibility of a mega mining merger between Anglo American and Xstrata. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and financial fle
Read moreLondon close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreLondon afternoon: Shares crawl higher
16th Jun 2009 14:19
London's blue-chip index edged higher over the lunch-time session, helped by expectations of a moderately firmer start on Wall Street. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of gro
Read moreLondon midday: Lloyds leads rally
16th Jun 2009 12:04
Footsie is making a valiant attempt to claw back yesterday's losses but its progress is being impeded by a weak mining sector. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in n
Read moreLondon open: Steady start for Footsie
16th Jun 2009 08:39
London's blue have made modest progress despite a tough day on Wall St yesterday with good figures from Tesco giving a boost. Property group's British Land and Hammerson are the best performers this morning, but it is Tesco's figures that catch the eye. Tesco's like-for-like sales growth came in a
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