Westhouse sees "substantial long-term value" at Tullow Oil
3rd Jul 2014 09:02
Tullow Oil "now offers substantial long-term value", according to Westhouse Securities, which repeated its 'add' recommendation for the stock. The broker said that Tullow's recent Capital Markets Day did not provide any material new information, but gave "a bit more granularity to the production ou
Read moreTullow strikes oil at Hanssen well offshore Norway
3rd Jul 2014 08:07
Tullow Oil said it has struck oil at its 20%-owned Hanssen wildcat well offshore Norway, which it estimates carries up to 50m barrels of recoverable oil. Hanssen, located in production licence 537 near the Wisting Central oil discovery, encountered a 20-25 metre oil bearing sandstone with good rese
Read moreFTSE 100 movers: StanChart lifted by private equity sale rumours
2nd Jul 2014 15:32
Standard Chartered jumped on reports the group is intending to dispose of $500m-worth of private equity investments. Quoting two people "with knowledge of the situation", Bloomberg said the lender is expected to sell minority holdings in companies across a number of countries. The speculation come
Read moreLondon midday: Stocks gain as UK construction PMI hits four-month high
2nd Jul 2014 12:04
- UK construction PMI hits four-month high - ADP report, factory orders in focus Stateside - Service PMIs, ECB and jobs report due out tomorrow - Mothercare jumps on foreign interest techMARK 2,841.71 +0.32% FTSE 100 6,823.02 +0.30% FTSE 250 15,907.17 +0.42% Figures showing a surprise pick-up in U
Read moreLondon open: Stocks edge higher ahead of key data
2nd Jul 2014 09:21
- Markets await US data, Yellen speech - Services data, ECB meeting and non-farm payrolls due out Friday - Mothercare jumps after Destination Maternity bid techMARK 2,838.22 +0.20% FTSE 100 6,821.55 +0.27% FTSE 250 15,914.05 +0.46% UK stocks edged higher on Wednesday morning though upside was limi
Read moreTullow hit by $415m write-off as first-half profits fall
2nd Jul 2014 07:46
Tullow Oil has reported a decline in profits on flat revenues in its first half and said it expects an exploration write-off of $415m. The company said the write-off was a result of "mixed" frontier exploration results in Mauritania, Ethiopia and Norway, as well as the decision not to renew certain
Read moreLondon pre-open: FTSE to move slight lower at opening bell
2nd Jul 2014 07:44
UK stocks are expected to start on the back foot, ignoring new records set by US indices overnight as it slightly reverses some of yesterday's strong gains. City sources predict the FTSE 100 will slip two points lower than yesterday's close of 6,802.92. US stock markets started the second quarte
Read moreLondon midday: Iraq concerns push stocks lower ahead of US data
25th Jun 2014 11:30
- FTSE 100 on track to close at two-month low - Iraq situation worsens, Ukraine still in focus - Bunzl disappoints with trading update - Oil stocks fall, real estate gains techMARK 2,794.32 -0.53% FTSE 100 6,744.97 -0.62% FTSE 250 15,458.96 -0.57% UK stocks were firmly in the red on Wednesday as o
Read moreLondon open: UK stocks near two-month low as Iraq fighting escalates
25th Jun 2014 08:32
- Syria carries out airstrikes in Iraq - Ukraine in focus as West considers more sanctions against Russia - US GDP to be revised lower techMARK 2,796.66 -0.44% FTSE 100 6,747.40 -0.58% FTSE 250 15,499.81 -0.30% UK stocks dropped sharply on Wednesday morning with the FTSE 100 trading at levels not
Read moreLondon pre-open: Limited gains expected on FTSE ahead of BoE report
24th Jun 2014 07:40
London's blue chips look set move slightly higher early on, with direction limited after a mixed performance in both the States and Asia overnight. Ahead of the Bank of England's (BoE) latest inflation report due out later today, the FTSE 100 is expected to edge around 10 points above yesterday's
Read moreTullow Oil reports successful drilling in Northern Kenya
24th Jun 2014 07:10
Tullow Oil has reported some promising results from its 50%-owned blocks 10BB and 13T in Northern Kenya. Toronto-listed partner on the blocks, Africa Oil, reported that drilling at the Ngamia-2 well found up to 39 metres of net oil pay and 11 metres of net gas pay. The well has now been suspended f
Read moreLondon midday: Oil stocks lead markets higher ahead of FOMC
18th Jun 2014 11:48
- FOMC meeting to keep traders cautious - Iraq tensions escalate as rebels attack refinery - BoE in focus amid rate-hike speculation techMARK 2,800.97 +0.23% FTSE 100 6,795.76 +0.43% FTSE 250 15,610.03 +0.16% UK equities rose on Wednesday ahead of a policy decision at the Federal Open Market Commi
Read moreLondon close: FTSE ends higher ahead of FOMC meeting
17th Jun 2014 16:59
- FTSE closes up 12.13 points at 6,766.77 - Attention on Iraq, FOMC - Shire leads gains as miners weigh techMARK 2,794.60 -0.09% FTSE 100 6,766.77 +0.18% FTSE 250 15,585.46 -0.77% Blue chips recovered from a sharp dip earlier this afternoon to close in modestly positive territory, although concer
Read moreFTSE 100 movers: Shire rises on reports of bid preparation
17th Jun 2014 15:37
Pharmaceutical group Shire was making gains after Reuters reported that it has hired investment bank Citi as an advisor as it braces itself for takeover bids. The company's Irish tax base and its mid-sized market value of £22bn makes it a prime acquisition target, analysts told the news agency. Whi
Read moreFTSE 100 movers: Precious metals miners lead gains
16th Jun 2014 15:05
Fresnillo, Randgold Resources, Glencore, BHP Billiton and Anglo American were all tracking metals prices higher. Glencore was also lifted by Investec, which moved its target price from 302p to 319p and upgraded the stock from 'reduce' to 'hold'. Driven higher by supply concerns, rising oil prices
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