Broker tips: Tullow Oil, Smith & Nephew, Johnson Matthey, Cairn Energy
11th Mar 2015 11:33
Westhouse Securities has maintained a 'buy' recommendation on Tullow after the oil producer and explorer delivered a positive update on its appraisal programme in Kenya. "Tullow is now trading at an unprecedented 36% discount to our core net asset value [forecast] despite having high margin producti
Read morePositives outweigh negatives for Tullow in Kenya, says Westhouse
11th Mar 2015 09:20
Westhouse Securities has maintained a 'buy' recommendation on Tullow after the oil producer and explorer delivered a positive update on its appraisal programme in Kenya. Tullow said it had achieved "excellent results" from the Amosing-1 and Amosing-2A wells in the South Lokichar basin as it looks to
Read moreLondon open: Stocks rebound slightly after sell-off, Domino Printing soars
11th Mar 2015 08:26
UK stocks advanced on Wednesday morning but only partly reversed the prior day's heavy sell-off as a raft of weak economic data from China added to concerns about a slowdown in the world's second-largest economy. London's FTSE 100 was up 0.4% at 6,731.82 in early trading. The index sunk 2.5% on Tue
Read moreTullow Oil enjoys 'excellent results' from latest appraisal in Kenya
11th Mar 2015 07:05
Tullow Oil has hailed its appraisal activity in the South Lokichar Basin in Kenya as it looks to prove reservoir quality and define resources estimates ahead of potential development, though one well had to be plugged and abandoned. Testing of the Amosing-1 and Amosing-2A wells have revealed "excell
Read moreLondon close: FTSE plunges 2.5% to seven-week low as commodity stocks tank
10th Mar 2015 16:33
A stronger US dollar and falling commodity prices led to a rout in the heavyweight energy and mining sectors on Tuesday, pushing the FTSE 100 down 2.5% to its lowest level in seven weeks. The Footsie ended the day down 173.63 points at 6,702.84, with ongoing concerns about Greece further weighing on
Read moreSector movers: Energy stocks hammered as crude falls, risk appetite declines
10th Mar 2015 15:22
Every sector on London's stock market was either flat or trading in the red on Tuesday afternoon, with energy stocks bearing the brunt of the sell-off as risk appetite collapsed. "Rising share prices are few and far between on the FTSE 100 this afternoon, thanks to a heady cocktail of worries that h
Read moreFTSE 100 movers: Oil producers and miners weaker, Easyjet soars on lower costs
10th Mar 2015 14:14
Oil producers such as Tullow, Shell and BG Group led the fallers as crude prices declined. Brent futures were down 1.4% at $57.73 a barrel by noon. Meanwhile, Easyjet was flying higher on the low oil prices, as fuel costs were further minimized. G4S was also among the risers after the security grou
Read moreLondon midday: Stocks at lowest in a month as Greek fears intensify
10th Mar 2015 12:16
UK stocks dropped sharply on Tuesday morning with the Footsie on track for its lowest close in over a month as investors scaled back their appetite for risk amid ongoing tensions between Greece and its creditors. London's FTSE 100 was down 1.2% at 6,793.01 by midday. It has not closed below the 6,80
Read moreUK mining and energy stocks slump on rising USD and declining commodity prices
10th Mar 2015 11:45
Mining and energy stocks slumped on the FTSE 100 index in London on Tuesday as commodity prices continued to erode on the back of a strengthening US dollar and persistent concerns over the health of the Chinese economy. Midday in London, shares in mining stocks slumped with Kaz Minerals down 4.9%, B
Read moreLondon open: Mining stocks and Prudential drag markets lower
10th Mar 2015 08:52
Equity markets declined on Tuesday morning on the back of mixed data from China, with mining stocks bearing the brunt of the selling pressure as metal prices weakened. The FTSE 100, which set a three-week closing low of 6,876.47 on Monday, was down a further 0.22% at 6,861.50 early on with Prudentia
Read moreHika Pharma promoted to FTSE 100 but Tullow Oil gets kicked out
5th Mar 2015 15:01
Hika Pharmaceuticals and Tullow Oil are switching places at start of the second quarter of this year as the FTSE Group reshuffles components across its leading London benchmarks. In its quarterly review, the FTSE Group have outlined which companies have been promoted or demoted from its indices. The
Read moreLondon close: FTSE pulls back from record as miners dip into the red
2nd Mar 2015 16:37
UK stocks inched lower on Monday after hitting a new intraday record high during the session as markets were underwhelmed by a raft of positive manufacturing data and a rate cut in China. London's FTSE 100, which rose to a new all-time peak of 6,974.26 early on, finished 6.02 points lower (-0.09%) a
Read moreLondon midday: Investors take profits after FTSE hits fresh intraday record
2nd Mar 2015 11:41
After a bright start, UK stocks dropped into the red by Monday lunchtime as investors assessed a raft of economic data and took profits after markets reached new record highs. The FTSE 100 was down 0.01% at 6,945.68 by midday, erasing gains after rising to a new intraday all-time high of 6,974.26 in
Read moreLondon open: UK stocks hit new record high on China rate cut
2nd Mar 2015 08:52
UK stocks rose modestly to a new record high on Monday morning on the back of gains in the banking and mining sectors, tracking a strong performance on Asian markets overnight after a rate cut in China. The FTSE 100 was up 0.3% at 6,969.46 within the opening hour, having risen as high as 6,972.01 in
Read moreFTSE 100 movers: HSBC lower on tax scandal fines, LSE boosted by higher price target
23rd Feb 2015 14:59
HSBC was among the fallers after reporting a 17% drop in pre-tax annual profit to $18.68bn, as the lender was hit by fines for its involvement in the foreign exchange rigging scandal. Chief executive Stuart Gulliver said 2014 was a "challenging year in which we continued to work hard to improve busi
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