Tullow to push ahead with cost cuts despite oil price rally
30th Apr 2015 08:56
Ahead of a meeting with shareholders Tullow Oil reaffirmed its full-year guidance for production, cost savings and capital expenditures, despite the recent rally in the price of oil. Production from West Africa and Europe rose to 74,800 barrels of oil equivalent per day (boepd), with the bulk of tha
Read moreFTSE 250 movers: Ophir Energy and Kier Group surge on acquisitions
28th Apr 2015 13:29
Oil and gas explorer Ophir Energy was making gains after reaching an agreement to acquire four production sharing contracts in Indonesia from Niko Resources. The group said the deals cover the West Papua IV, Aru, Kofiau and Halmahera-Kofiau deepwater sites in Indonesia, adding it was in the process
Read moreBroker tips: Tullow Oil, ITV, Imperial Tobacco
27th Apr 2015 18:06
Analysts at Canaccord Genuity reiterated their 'hold' rating on Tullow Oil stock, after a judge ruled its TEN development could continue. The brokerage described the ruling as "very good news" for the FTSE 250 group, as it is free to continue the development of its project, which is already 55% comp
Read moreFTSE 250 movers: Supergroup soars on RBC upgrade, Lonmin lower after Exane downgrade
27th Apr 2015 13:43
SuperGroup was trading higher as RBC Capital Markets raised its rating on the clothing chain. The broker, which hiked its recommendation to 'outperform' from 'sector perform', also increased its price target to 1,150p on high hopes for the newly appointed management team. Vedanta Resources was boost
Read moreLondon midday: Bounce in UK industrial data lifts stocks
27th Apr 2015 11:43
London equities returned to positive territory by midday as UK manufacturing data provided encouragement and earlier concerns about stalled Greek debt negotiations were assuaged by more positive rumours. German newspaper Bild suggested that Greece has revised its list of reforms and was ready to sus
Read moreCanaccord says tribunal ruling is 'very good news' for Tullow Oil
27th Apr 2015 11:30
Analysts at Canaccord Genuity reiterated their 'hold' rating on Tullow Oil stock, after a judge ruled its TEN development could continue. The brokerage described the ruling as "very good news" for the FTSE 250 group, as it is free to continue the development of its project, which is already 55% comp
Read moreTullow Oil climbs on favourable court ruling over Ghana operations
27th Apr 2015 08:48
Shares in Tullow Oil climbed as much as 9% on Monday morning, after a judge ruled its TEN development could continue. Over the weekend, the International Tribunal for the Law of the Sea rejected Ivory Coast's demand to stop work on a Tullow-operated field, located in disputed waters off the coast of
Read moreTuesday broker round-up
21st Apr 2015 13:18
Tullow Oil: Deutsche Bank reiterates hold and keeps target price at 370p. Tesco: Citi reiterates neutral and 235 target price. BHP Billiton: Barclays reiterates overweight and lifts target to 3,500p from 3,300p. Rio Tinto: Barclays downgrades to equalweight and lower target to 2,850p from 3,350p.
Read moreLondon close: Retailers, miners and oil stocks help FTSE set new record
15th Apr 2015 16:38
Strong gains in the retail sector and a solid performance from mining and oil stocks helped the FTSE 100 set a new record high on Wednesday, amid hopes for further stimulus in China and no surprises from a policy meeting in Europe. London's benchmark Footsie rose 21.51 points (+0.3%) to a new all-ti
Read moreFTSE 250 movers: Vesuvius plummets on downgrade, energy stocks higher
15th Apr 2015 13:08
Shares in metal flow engineering group Vesuvius dropped sharply after analysts at JPMorgan lowered their stance on the stock from 'overweight' to 'neutral', citing weak steel production in the US. The price target was lowered to 510p from 531p previously. JD Sports was trading higher after sprinting
Read moreBroker tips: Next, Burberry, Bunzl, Tullow, Vesuvius
15th Apr 2015 11:24
UK high street retailer Next raced up the FTSE 100 index on Wednesday after JPMorgan lifted its rating on the company to 'overweight' from 'neutral'. While JPMorgan favours Marks & Spencer stock on three-to-six month view for its ongoing turnaround potential, the US investment bank sees scope for Ne
Read moreTullow Oil shares rally after Goldman Sachs boosts stock to 'buy'
15th Apr 2015 08:06
Shares in oil and gas exploration company Tullow Oil rose 2.3% early Wednesday after the stock had its rating promoted to 'buy' from 'neutral' by US investment banking titan Goldman Sachs who called it a "source of opportunity." "We believe the stock offers exposure to a strategic asset base, given
Read moreLondon close: Stocks inch higher as miners gain, but upside limited
14th Apr 2015 16:29
Gains from mining stocks kept the FTSE 100 afloat on Tuesday, though investors were showing caution with markets near record highs amid uncertainty in Greece and macro concerns. After swinging between positive and negative territory throughout the day, the Footsie finished the session just 10.96 poi
Read moreFTSE 250 movers: Tullow Oil surges on upgrade, Poundland higher on strong annual sales
14th Apr 2015 14:05
Tullow Oil's topped the risers after Citigroup raised its rating on the stock from 'neutral' to 'buy', saying that the oil group's portfolio quality was "undervalued" by the market. Poundland was making gains after a trading update showed the discount retailer had topped a billion pounds of annual s
Read moreBroker tips HSBC, Shell, BP, Morrisons, Tullow, Aberdeen
14th Apr 2015 11:34
Investec has recommended investors to 'sell' shares of global banking giant HSBC, downgrading the stock from 'hold' after a "very disappointing" set of annual results last month. In spite of the weak results, which were some 33% below consensus, HSBC's UK shares have rebounded 10% over the past mont
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