London midday: Stocks hit by political uncertainty, economic data
3rd Jul 2013 11:26
Political uncertainty in Europe, disappointing economic figures from China and nervousness ahead of some key 'risk events' later this week prompted a sell-off on the FTSE 100 on Wednesday morning. Resignations of both the Portuguese Finance Minister and Foreign Minister over the last few days have
Read moreBroker tips: Tullow, ARM, Randgold
3rd Jul 2013 11:19
While the market reacted positively to Tullow Oil's first-half trading update on Wednesday morning, Investec has chosen to reiterate its 'sell' rating, saying that investors should be wary about development funding. "Our view is that the commercial threshold will ultimately be breached in the Locki
Read moreBroker snap: Tullow still a 'sell' despite strong H1 update
3rd Jul 2013 11:05
While the market reacted positively to Tullow Oil's first-half trading update on Wednesday morning, Investec has chosen to reiterate its 'sell' rating, saying that investors should be wary about development funding. Analyst Brian Gallagher admitted that the operational update was "strong" with resu
Read moreLondon open: Risk appetite sinks ahead of key economic data
3rd Jul 2013 08:25
The FTSE 100 dropped sharply in early trading on Wednesday as economic data from China continues to disappoint, while nerves were setting in ahead of some key risk events later on in the week. Activity in China's services sector remained sluggish in June with the official non-manufacturing purchasi
Read moreLondon pre-open: Steep falls expected early on
3rd Jul 2013 07:50
Markets are expected to open with steep losses on Wednesday morning as nerves set in ahead of central-bank meetings on Thursday and the all-important US jobs report on Friday. City sources predict the FTSE 100 will open down 60 points from yesterday's close of 6,304. Both the European Central Ban
Read moreTullow Oil reports high-quality production
3rd Jul 2013 07:02
Tullow Oil in the first half drilled nine exploration wells and 11 appraisal wells across the portfolio with a 60 per cent overall success ratio, according to a trading update on Wednesday. During the first six months of the year, the explorer made strong progress in Kenya with a new oil discovery
Read moreWednesday preview: Tullow Oil updates market
2nd Jul 2013 16:12
Tullow Oil's shares slumped on Tuesday as Credit Suisse reiterated a 'hold' rating for the stock and cut its target price from 1150p to 1050p a day ahead of the firm's trading update. The broker noted that oil and gas producer has been a relative underperformer with some high profit wells deliverin
Read moreTuesday broker round-up UPDATE
2nd Jul 2013 08:24
Amara Mining: Westhouse Securities raises target price from 60p to 90p and stays with its buy recommendation. Canaccord Genuity lowers target price from 50p to 40p maintaining its buy recommendation. Anite Group: Panmure Gordon shifts target price from 171p to 177p and reiterates a buy recommendati
Read moreLondon close: Stocks rise on first day of Carney's mandate
1st Jul 2013 17:24
Equities began the third quarter on a strong note, buoyed in part by a bullish note from strategists at JP Morgan on commodity prices. Alongside a slightly better than expected reading on US manufacturing that helped to compensate for a somewhat weak reading on Chinese manufacturing overnight. Coinc
Read moreBroker tips: Tullow Oil, Hays, G4S
1st Jul 2013 13:14
Analysts at Nomura have upped their view on shares of oil exploration group Tullow Oil ahead of what they expect will be a positive trading update from the company this next Wednesday. That is particularly true, they believe, given the generally sombre outlooks typical for large-cap majors in Euro
Read moreBroker snap: Nomura raises Tullow Oil to neutral
1st Jul 2013 09:47
Analysts at Nomura have upped their view on shares of oil exploration group Tullow Oil ahead of what they expect will be a positive trading update this next Wednesday. That is particularly true, they believe, given the generally sombre outlooks typical for large-cap majors in Europe and after a 40
Read moreTuesday broker round-up UPDATE
18th Jun 2013 08:19
Alternative Networks: Westhouse Securities upgrades from neutral to add with a target price of 350p. Andes Energia: Westhouse Securities initiates with a target price of 60p and a buy recommendation. Andor Technology: Investec reduces target price from 525p to 360p downgrading from buy to hold. A
Read moreFTSE 100 movers: Resolution, Vodafone, Reckitt
17th Jun 2013 14:28
Guernsey-incorporated investment vehicle Resolution topped the FTSE 100 Monday after JP Morgan increased its target price from 273p to 302p and maintained a 'neutral' rating. Vodafone Group was dragged higher by a bounce in the wider Telecommunications sector despite reports in The Sunday Times acc
Read moreMonday broker round-up UPDATE
17th Jun 2013 07:21
Antofagasta: UBS reduces target price from 1140p to 1050p, while upgrading from neutral to buy. ARM Holdings: Analysts at Numis have cut their view on the shares to reduce from hold. Associated British Foods: Nomura cuts target price from 1800p to 1650p downgrading to reduce. Atkins: Jefferies u
Read moreTullow Oil defeats Heritage in High Court battle
14th Jun 2013 14:56
Tullow Oil has defeated former partner Heritage Oil in a contract dispute taken to the UK High Court. The dispute related to which of the two companies was liable for a tax payment to the Ugandan government. On Friday, in the High Court in London, the FTSE 100 group's subsidiary Tullow Uganda rece
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