FTSE 100 movers: Financials and miners stuck in reverse
12th Nov 2013 14:45
Financials were sitting firmly in the red this afternoon after a sharp fall in UK inflation failed to prompt much in the way if a reaction from investors. Aberdeen Asset Management and RBS were two of the biggest fallers, with the latter also being pressured lower by a downgrade by Goldman Sachs f
Read moreThursday broker round-up
7th Nov 2013 12:42
Afren: Liberum Capital takes target price from 136p to 197p and upgrades to buy. African Minerals: Liberum Capital cuts target price from 423p to 410p, while staying with its buy recommendation. Canaccord Genuity reduces target price from 400p to 345p leaving its buy recommendation unchanged. Alen
Read moreTullow Oil resumes operations in northern Kenya with new MoU
7th Nov 2013 09:06
Tullow Oil is set to resume operations in Block 10BB and Block 13T in northern Kenya on Friday (November 8th) after completing discussions with government and the local community. The group has signed a Memorandum of Understanding (MoU) with the Minister for Energy, under which a clear plan has be
Read moreTullow Oil plugs and abandons Wisting Alternative well
29th Oct 2013 07:59
FTSE 100-listed Tullow Oil on Tuesday revealed that the Wisting Alternative well, offshore Norway, had reached total depth and although oil shows had been encountered, the reservoir rock was of poor quality. As such, it will be plugged and abandoned, although work on the Wisting Central discovery
Read moreSector movers: Quality names to keep underperforming
28th Oct 2013 14:42
Before the financial crisis, and the technology bubble which culminated in the 2000 stock-market crash, mean-reversion was considered by many to be one of the most orthodox investment thesis. Simply said, over a long enough time horizon on average shares would tend to overshoot or undershoot their f
Read moreTullow Oil suspends operations in Northern Kenya due to labour strikes
28th Oct 2013 07:29
Tullow Oil has temporarily suspended all operations in Block 10BB and Block 13T in Northern Kenya due to labour unrest. The company said its decision to suspend exploration and appraisal operations was taken to prevent further escalation of strikes while it tries to resolve the issue. "Tullow is w
Read moreTullow Oil to offer 500m dollar senior notes
24th Oct 2013 10:30
FTSE 100-listed Tullow Oil has unveiled plans to offer 500m dollars of senior notes, due in 2020. The proceeds of the notes will be used to repay part of Tullow's existing indebtedness under the company's credit facilities. The interest on the notes will be payable semi-annually; the rate has no
Read moreWednesday broker round-up UPDATE
2nd Oct 2013 08:02
Advanced Medical Solutions: N+1 Singer shifts target price from 84p to 90p and upgrades from sell to hold. Afren: Nomura lowers target price from 180p to 170p and retains a neutral rating. Aveva: Panmure Gordon raises target price from 2174p to 2374p and keeps a hold recommendation. Barclays: Soc
Read moreLondon close: Stocks rise despite more unbalanced UK economy
26th Sep 2013 16:58
London's benchmark FTSE 100 index ended the day up 14.06 points at 6,565.59, rebounding after hitting a two-week low of 6,551.53 on Wednesday. That came after a solid reading on US initial weekly unemployment claims - unemployment is the key variable for the short-term economic outlook. However,
Read moreFTSE 100 movers: Energy stocks hit by Labour pledge
26th Sep 2013 15:04
British Gas owner Centrica and utility group SSE were today extending losses after yesterday's proposal by Labour leader Ed Miliband to freeze energy bills if the party is voted back into power in 2015. The stock has now slipped below its 200-day moving average following three days of intense sellin
Read moreLondon midday: Stocks fall as focus remains on US data
26th Sep 2013 11:49
Markets were trading in negative territory on Thursday morning as investors gave a subdued reaction to in-line growth figures from the UK and awaited more economic data from the US. The second and final revision of UK gross domestic product (GDP) growth for the second quarter held steady at 0.7%. M
Read moreBroker snap: Credit Suisse lifts Tullow target after Kenyan discovery
26th Sep 2013 11:25
Credit Suisse has raised its target price for oil explorer Tullow following a successful discovery at the Ekales prospect in the South Lokichar Basin in Kenya. The group said results of drilling, wireline logs and samples of reservoir fluid indicate a potential net oil pay in the Auwerwer and Upper
Read moreLondon open: Markets tentative ahead of economic data
26th Sep 2013 08:19
Markets opened tentatively on Thursday morning as investors awaited economic growth figures from both sides of the Atlantic due out later on. Wall Street benchmarks ended Wednesday's session slightly lower with the S&P 500 finishing in the red for the fifth straight day - its longest losing streak
Read moreLondon pre-open: FTSE to edge higher ahead of GDP reports
26th Sep 2013 07:35
City sources predict the FTSE 100 will open up around six points from Wednesday's close of 6,551.53, ahead of the release of UK and US gross domestic product later today. Britain's economic growth for the second quarter is expected to hold steady, according to forecasts ahead of figures released l
Read moreTullow Oil makes new oil discovery in Kenya
26th Sep 2013 07:02
Tullow Oil has made a new oil discovery in in Block 13T of Northern Kenya, the company announced on Thursday. The group said results of drilling, wireline logs and samples of reservoir fluid indicate a potential net oil pay in the Auwerwer and Upper Lokone sandstone reservoirs of between 60 and 100
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