Thursday broker round-up UPDATE
30th May 2013 08:19
AMEC: Morgan Stanley reduces target price from 1220p to 1100p and retains an underweight rating. Amlin: JP Morgan takes target price from 360p to 400p maintaining an underweight rating. Brewin Dolphin: Canaccord Genuity raises target price from 230p to 285p and reiterates a buy recommendation. C
Read moreLondon pre-open: FTSE 100 seen lower ahead of busy day
30th May 2013 07:44
The FTSE 100 is expected to open moderately lower again on Thursday following a steep sell-off the day before, as concerns about the global economy continue to weigh on sentiment ahead of a busy day for financial markets worldwide. City sources predict the FTSE 100 will open down 23 points from ye
Read moreTullow abandons exploration well offshore Cote D'Ivoire
30th May 2013 07:10
Oil giant Tullow has been forced to pull out of another one of its exploration wells, this time off the coast of Cote D'Ivoire. The company, which has seen its stock drop nearly 18% so far in 2013 on the back of a series of disappointing exploration updates, said that its Calao-1X well encountered
Read moreTullow Oil announces well disappointment offshore Norway
23rd May 2013 09:21
Lundin Petroleum, Tullow Oil's partner on the Carlsberg prospect in the Norwegian North Sea, said Thursday that it has plugged and abandoned the wildcat well 7/4-3 after no hydrocarbons were encountered. Tullow Oil has a 40% stake in the well, which was targeting the Upper Triassic and Upper Creta
Read moreTullow Oil reports strong production at Jubilee Field in Ghana
8th May 2013 08:14
Dual listed independent oil and gas exploration group Tullow Oil has reported "continued strong production" from the Jubilee Field and production "in line with expectations" at its other assets across the West and North of Africa. In its interim management statement for the period from January 1st
Read moreTuesday broker round-up UPDATE
7th May 2013 07:18
Admiral Group: JP Morgan reduces target price from 1246p to 1108p downgrading to underweight. Afren: Deutsche Bank lowers target price from 165p to 150p, while leaving its buy recommendation unchanged. Investec ups target price from 138p to 160p and upgrades from hold to buy. Betfair Group: Numis
Read moreTullow Oil reports 'very encouraging' flow tests at Ngmamia-1 well
30th Apr 2013 07:22
The production of oil at FTSE 100-listed Tullow Oil's Ngamia-1 well in Kenya has been described as 'very encouraging' with the first of six well tests flowing at 281 barrels of oil per day (bopd). In an operational update on its East African interests, the mining group reported that the test had be
Read moreLondon close: FTSE 100 jumps two per cent on stimulus hopes
23rd Apr 2013 16:59
Markets on the whole shrugged off disappointing data from the Chinese manufacturing sector on Tuesday, as decent corporate earnings and stimulus hopes in Europe pushed the FTSE 100 two per cent higher. The Markit Eurozone composite purchasing managers' index (PMI) released this morning was unchange
Read moreFTSE 100 movers: ARM rises on strong quarterly rise
23rd Apr 2013 15:21
Shares in chip designer ARM Holdings leapt after it reported strong quarterly revenue and earnings growth, fuelled by licensing and record royalty revenue and said it expects full year results to be at least in line with current market expectations. Also on the up was Associated British Foods, whi
Read moreLondon midday: ARM leads markets higher after strong first quarter
23rd Apr 2013 11:31
The UK stock market was making decent gains by Tuesday lunchtime as strong performances from ARM Holdings, AB Foods and IAG helped to offset some weakness in the mining sector. Sentiment was lifted this morning as gloomy economic data from the Eurozone sparked speculation that it could open the doo
Read moreLondon open: Markets rise despite concerns over China
23rd Apr 2013 08:20
Decent gains for ARM Holdings, Associated British Foods and Rolls-Royce were providing a boost to London's stock market on Tuesday morning, offsetting relative weakness in the heavyweight mining sector. Miners were under pressure early on after a disappointing reading of Chinese manufacturing. The
Read moreTuesday broker round-up UPDATE
23rd Apr 2013 07:40
Associated British Foods: Panmure Gordon ups target price from 1750p to 1800p keeping a hold recommendation. Aveva Group: Sanlam Securities upgrades from sell to hold with an unchanged target price of 1980p. Bank of Georgia: Bank of America raises target price from 1443.60p to 1765p, but downgrade
Read moreTullow disappoints again after abandoning well in French Guiana
23rd Apr 2013 07:09
Tullow Oil said on Tuesday that it has had to abandon a well offshore French Guiana, the latest in a string of disappointing operational updates from the FTSE 100-listed oil explorer. The company said that the Priodontes-1 well was drilled to a total depth of 6,138m in water depths of 1,750m but fa
Read moreFTSE 100 movers: ENRC rockets on possible takeover plans
19th Apr 2013 16:01
Mining stocks were performing well as investors sought gains after a volatile week for the sector. Vedanta, EVRAZ and Fresnillo were all making decent gains by mid-afternoon. ENRC shares surged Friday after major shareholder Alexander Machkevitch said he was considering a takeover bid for the Kaza
Read moreLondon midday: Markets snap four-day losing streak
18th Apr 2013 11:17
Developments in the Eurozone were supporting stocks on Thursday morning as markets rebounded to snap a four-day losing streak. However, the focus is likely to turn to the US later on as first-quarter earnings season continues to dictate sentiment. Wall Street benchmarks slumped last night after som
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