Broker tips: Tullow, AB Foods, Hays
9th Jul 2009 13:09
Irish oil company Tullow Oil's recent share price weakness merely reflects the slide in the price of crude, Morgan Stanley believes, and the US bank reckons the company's prospects look good over the medium term. Tullow's exciting discoveries in Uganda and Ghana are set to drive future earnings gro
Read moreBroker snap: Morgan Stanley sees medium term boost for Tullow
9th Jul 2009 13:06
Irish oil company Tullow Oil disappointed some in the market on Wednesday when it said interim revenue will likely fall 23% following a drop in production and lower commodity prices, but Morgan Stanley reckons the company's prospects look good over the medium term. The US bank argues that the recen
Read moreThursday tips round-up: Tullow Oil, Carillion, Cape
9th Jul 2009 06:05
The Independent reckons Tullow Oil is a risky bet, which is not helped by volatile oil prices, but said the company offers enough for a speculative punt. Buy. The Times says the longer-term issue of how Tullow will commercialise its Ugandan discoveries remains. Yet, at 863p, a busy drilling program
Read moreLondon close: Footsie dives as miners reverse course
8th Jul 2009 17:04
The decline of the Footsie gathered pace in the final hour as miners, which had provided some measure of support for the blue-chip index for most of the day, turned lower. As global equity markets continue to retreat life assurance stocks were the main losers. Aviva, Legal & General and Prudential
Read moreLondon afternoon: Downward drift continues
8th Jul 2009 15:36
The majority of blue-chip stocks remain lower on the day, though 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 clients to take advantage of recent share price weakne
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 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 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
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