Tullow 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
Read moreFTSE 100 movers: ARM rises on launch of latest Apple iPhones
11th Sep 2013 14:49
Leading today's risers was ARM Holdings, the chip designer, which rose strongly in the aftermath of last night's launch by customer Apple of its new iPhone models. The phones use a new 64-bit processor, which a number of analysts believe will equate to an increased royalty rate to ARM than the 32-bi
Read moreSector movers: Oil and gas stocks fall after delays at BG Group
9th Sep 2013 18:15
Oil and gas stocks were firmly in the red on Monday as project delays from natural gas giant BG Group and falling crude prices dampened sentiment across the sector. BG, the 13th largest listed company in the UK by market capitalisation, slumped today after scaling back its production guidance for n
Read moreMonday broker round-up UPDATE
9th Sep 2013 10:42
Associated British Foods: Panmure Gordon cuts target price from 2100p to 2075p, while leaving its buy recommendation unchanged. Investec places its target price (prev.: 1930p) under review keeping a hold recommendation. Aviva: Morgan Stanley increases target price from 403p to 445p and maintains an
Read moreLondon close: Markets choppy after US data, Putin comments
6th Sep 2013 16:29
A disappointing US jobs report and comments from Vladimir Putin sparked a choppy end to trade on Friday, resulting in meagre gains on the FTSE 100 as risk appetite was scaled back before the weekend. The FTSE 100 ended the day up just 14.89 points at 6,547.33, a rise of 0.23%. Still, this was the h
Read moreFTSE 100 movers: Tullow Oil shares jump on oil discovery
6th Sep 2013 15:05
Shares in Tullow Oil leapt after it was revealed that the Wisting Central exploration well had made the first ever oil discovery in the Hoop-Maud Basin in the Barents Sea offshore Norway. Tullow Oil owns a 20% stake in the licence where the oil was found. Airline group easyJet was continuing to re
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