Broker tips: Astra, Tullow, Miners
8th Jul 2009 12:02
Producers of generic alternatives to AstraZeneca's prostate cancer drug Casodex have been slow off the mark and this has created an unexpected windfall for the UK drugs giant. US drugs firms Mylan and Caraco received approval from the US Food and Drugs Administration (FDA) yesterday to start shippi
Read moreLondon midday: Footsie still flat
8th Jul 2009 12:02
On another directionless day with little in the way of company news to guide sentiment, Footsie sits just in the blue. Heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its c
Read moreBroker snap: Tullow's potential value is £12 per share
8th Jul 2009 11:34
Irish oil explorer Tullow Oil was the worst performing blue-chip in early trading Wednesday but recovered by mid-morning, helped by positive comment from its house broker Royal Bank of Scotland. "While we anticipate some minor changes to forecasts ... we see nothing in the statement to alter the fu
Read moreLondon open: Down as banks await fate
8th Jul 2009 09:00
Footsie has slipped in early dealings after a three-digit fall on Wall Street last night. Miners are going well despite the fall on Wall St overnight led by Rio Tinto, BHP Billiton and Antofagasta. Banks will be in focus later on when Chancellor Alistair Darling unveils the government's White Pape
Read moreLondon pre-open: Early fall expected
8th Jul 2009 07:39
Footsie is expected to slip in early dealings after a three-digit fall on Wall Street last night. Tullow Oil expects annual production to average 58,000 barrels of oil equivalent per day (boepd) following a 16% drop in output during the first half. The company produced 59,000 barrels a day in the f
Read moreTullow 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
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