Sector movers: Oil stocks fall on IEA demand outlook
12th Aug 2014 14:51
Oil and gas stocks fell on Tuesday after the International Energy Agency (IEA) said global oil demand would increase by less than initially estimated this year. The IEA said that despite heightened geopolitical tensions in countries such as Libya, Iraq and Ukraine, "the oil market today looks bett
Read moreFTSE 100 movers: Prudential impresses with H1 profits, oil stocks fall
12th Aug 2014 14:49
Insurer Prudential impressed the market on Tuesday after the insurer's US and Asia businesses helped to boost group operating profits by a better-than-expected 17% to £1.52bn in the first half, despite a drop in UK annuity sales sparked by government pension changes. Oil stocks such as Shell, BP a
Read moreLondon midday: Stocks erase losses to trade flat amid geopolitical developments
12th Aug 2014 12:10
- Markets trim losses to finish flat - Geopolitics in focus with aid on its way to Ukraine - German ZEW survey disappoints - Prudential, Just Eat, Ladbrokes and Serco rise after results techMARK 2,726.95 -0.02% FTSE 100 6,630.32 -0.04% FTSE 250 15,498.56 +0.24% UK stocks had clawed back losses and
Read moreThursday broker round-up UPDATE
31st Jul 2014 09:30
Afren: Oriel places both target price and recommendation under review. Canaccord Genuity places both its target price (prev.: 150p) and its hold recommendation under review. Investec places its target price (prev.: 195p) under review and downgrades from buy to hold. Arbuthnot: Numis ups target pric
Read moreWednesday broker round-up UPDATE
30th Jul 2014 09:50
Antofagasta: Westhouse Securities downgrades from add to neutral with a target price of 885p. Investec places its target price (prev.: 690p) under review, while keeping its sell recommendation. Aureus Mining: FinnCap lowers target price from 66p to 62p maintaining a buy recommendation. British Ame
Read moreLondon open: Stocks slip as investors digest earnings, Barclays rises
30th Jul 2014 08:26
- Barclays rises as investors digest wave of corporate earnings - Russian sanctions, Gaza and Argentina in focus - US economic data, Fed decision due out later on techMARK 2,785.48 +0.12% FTSE 100 6,797.66 -0.15% FTSE 250 15,671.08 -0.10% UK markets opened slightly lower on Wednesday as investors
Read moreTullow drops into the red as H1 write-offs jump
30th Jul 2014 07:58
- H1 loss recorded as write-offs jump - Loss also made on Uganda disposal - Dividend maintained at 4p per share Tullow Oil kept its interim dividend unchanged as it dropped into the red in the first half of 2014, after exploration write-offs more than doubled. Tullow reported a loss before tax of
Read moreSector movers: GKN boosts auto stocks, BP weighs on oil
29th Jul 2014 14:01
A surge in the price of GKN gave the auto sector a boost on Tuesday, while cautious comments from BP weighed on oil and gas stocks. GKN's shares were up over 9% in afternoon trade after the aerospace and automotive engineer said that strength in its car parts Driveline division helped to offset the
Read moreThursday broker round-up UPDATE
24th Jul 2014 08:59
Afren: JP Morgan shifts target price from 180p to 188p upgrading from underweight to overweight. Anglo American: Jefferies raises target price from 1550p to 1700p and reiterates a hold recommendation. Antofagasta: Jefferies increases target price from 825p to 1000p upgrading from hold to buy. ARM
Read moreBroker tips: Tesco, Babcock, Sage, Tullow Oil
21st Jul 2014 12:59
A profit warning from Tesco may result in more downgrades, but Shore Capital has upgraded its rating on the supermarket stock from 'sell' to 'hold' after the resignation of Chief Executive Officer Philip Clarke on Monday. "With this important development we sense that the market will broadly welcom
Read moreOriel maintains 'add' for Tullow despite well disappointment
21st Jul 2014 11:34
Oriel Securities has estimated that the risked value of Tullow Oil's failed exploration well on its PL 507 project in the North Sea offshore Norway was worth around $150m to the oil explorer. Tullow Oil Norge's Lupus well (31/10-1) failed to encounter hydrocarbons and will now be plugged and abando
Read moreTullow well comes up dry in Norwegian North Sea
21st Jul 2014 07:36
Tullow Oil has announced that the first exploration well at its PL 507 project in the North Sea offshore Norway has come up dry. Tullow Oil Norge's Lupus well (31/10-1) failed to encounter hydrocarbons and will now be plugged and abandoned. The wildcat well is 35km south-east of the Oseberg Sør Fi
Read moreThursday broker round-up UPDATE
17th Jul 2014 11:07
Antofagasta: Canaccord Genuity cuts target price from 870p to 835p and maintains a hold recommendation. African Minerals: Canaccord Genuity reduces target price from 230p to 170p and keeps a buy recommendation. Ashmore Group: Goldman Sachs downgrades to neutral with a target price of 430p. Barcla
Read moreTullow tax appeal rejected as Uganda demands $407m bill
16th Jul 2014 16:18
The government of Uganda has hit Tullow Oil with a tax bill of $407m (£237m), after its appeal against the charge was rejected. Chief Executive Adrian Heavey said: "Tullow is very concerned by this ruling which ignores a contractual term signed by a government minister in Uganda. "Tullow is Uganda
Read moreTullow plugs and abandons Ethiopian well
14th Jul 2014 14:10
Tullow Oil disappointed the market on Monday with the news that one of its exploration wells onshore Ethiopia had failed to find commercial oil. The Gardim-1 well in the Chew Bahir Basin in the South Omo licence reached a total depth of 2,468 metres "without encountering commercial oil", the group
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