Tullow Oil rockets as it says credit facilities remain unchanged
1st Oct 2015 07:35
(ShareCast News) - Shares in oil exploration and production company Tullow Oil surged after it said its lending banks have completed the routine six-monthly reserve-based lend redetermination process and available debt capacity remains unchanged at $3.7bn. Tullow said that as of the end of September
Read moreFTSE 250 movers: Tullow gains on broker upgrades; Euromoney drops on acquisition
29th Sep 2015 15:17
(ShareCast News) - London's FTSE 250 index was down 0.8% to 16,489.54 at 1528 BST, falling in line with the broader market as investors continued to fret about an economic slowdown in China. Oil exploration and production company Tullow Oil was the standout gainer, benefiting from two rating upgrade
Read moreFTSE 250 movers: Slump in commodities pulls mining stocks lower
28th Sep 2015 17:02
(ShareCast News) - The FTSE 250 dropped 1.11% at the close, with Kaz Minerals the biggest faller on the London index as commodity prices declined. Shares in Kaz Minerals plunged 26.35%, along with a batch of other miners in the sector as investors digested a drop in metal prices and weak Chinese ind
Read moreSector movers: Oil stocks lead falls
18th Sep 2015 16:28
(ShareCast News) - Oil stocks led to the downside on Friday after the US Federal Reserve's rate decision on the previous day fanned global growth fears. Traders reacted poorly to Fed chair Janet Yellen's admittedly difficult to deliver message regarding growth concerns for overseas markets, on the o
Read moreBroker tips: StanChart, BP, Tullow Oil
10th Sep 2015 16:24
(ShareCast News) - The largest UK banks face several further operational headwinds which the market may not be fully factoring in yet, analysts believe. Foremost among those is the 2018 implementation of the IFRS9 accounting standard regarding provisions, which will be half again as high as IAS39. T
Read moreFTSE 250 movers: Polymetal gains but Tullow Oil drops as HSBC slashes target price
10th Sep 2015 14:00
(ShareCast News) - London's FTSE 250 index was on the back foot on Thursday, down 0.6% to 17,051.89 at 1423 BST, tracking wider losses as weak Chinese and Japanese data added to concerns about an economic slowdown, while a strong US jobs report exacerbated fears of a September rate hike by the Feder
Read moreTullow Oil tumbles as HSBC slashes price target
10th Sep 2015 10:30
(ShareCast News) - Shares in Tullow Oil were under pressure after HSBC slashed its price target on the stock to 310p from 514p to reflect the bank's lowered oil price assumptions. On 31 August, HSBC cut its Brent price assumption to $55.4 a barrel for 2015 from $62.5. For 2016-2018, the bank now exp
Read moreCredit Suisse sees slow recovery in oil, cuts targets
9th Sep 2015 09:06
(ShareCast News) - Demand for oil will recover as will prices, but more slowly and from a lower base, creating a challenge for European exploration and production companies, according to new research from Credit Suisse. "A prolonged downturn as we now envision creates greater challenges to the Europ
Read moreFTSE 250 movers: Booker gains on JPM note, commodity stocks slide
4th Sep 2015 16:12
(ShareCast News) - London's mid-cap index was down 1.4% to 16,834.66 at 1611 BST, with commodity stocks pacing the decline as a disappointing nonfarm payrolls report exacerbated worries about a global economic slowdown. Booker was on the front foot as JPMorgan Cazenove raised its price target on the
Read moreFTSE 100 movers: Tullow recovers, Tesco and Morrison hit by Nielsen data
28th Aug 2015 14:04
(ShareCast News) - By mid afternoon on Friday, the FTSE 100 was almost exactly flat on the day, meaning despite all the drama of China's 'Black Monday', London's blue chips would end the week higher than they finished the Friday before. Leaving the rest in its wake by mid-afternoon was Inmarsat, aft
Read moreFTSE 250 movers: Gold miners lifted as mid-caps trip on China's currency fiddling
12th Aug 2015 16:12
(ShareCast News) - The FTSE 250 tumbled in early trading and by the close of the session was down 1.3% at 17,438.09 points. There were a few stocks in positive territory, however, with a three-week haven-inspired high in gold prices helping gold-miners Centamin and Acacia Mining top the second-line
Read moreTullow Oil resumes production at Jubilee field in Ghana
12th Aug 2015 07:05
(ShareCast News) - Tullow Oil said gas exports from its Jubilee field in Ghana have resumed following the completion of works on a gas compressor and oil production has now returned to previous rates. The oil and gas exploration group also said that the governments of Uganda and Kenya have agreed on
Read moreFTSE 250 movers: Commodity prices pull oil stocks down
6th Aug 2015 14:48
(ShareCast News) - London's FTSE 250 fell slightly on Thursday, down 0.25% to 17,731.01 at 1456 BST. Tullow Oil led the fallers, declining 8.67% to 222.20p while fellow oil company Premier Oil was not far behind, falling by 7.81% to 116.80p. The pair suffered at the hands of falling oil prices as a
Read moreTullow Oil first-half loss narrows, but dividend scrapped due to lower oil prices
29th Jul 2015 10:38
(ShareCast News) - Tullow Oil reported a narrowing of its pre-tax loss for the first half, but cut it interim dividend as revenue fell on the back of lower oil prices. For the six months ended 30 June, the oil exploration and production company posted a pre-tax loss of $10.2m, down from $28.9m in th
Read moreFTSE 250 movers: Mining and oil stocks in the red
27th Jul 2015 18:30
(ShareCast News) - Lonmin led the miners lower on the FTSE 250 after a downgrade from HSBC hurt the platinum producer's shares. HSBC downgraded the stock to 'hold' from 'buy' and slashed its price target to 82p from 222p. The bank said medium-term earnings and EBITDA estimates are substantially lowe
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