London close: Stocks fall after choppy day on mixed manufacturing data
3rd Jun 2013 17:03
A mixed bag of manufacturing results from across the globe resulted in a weak start to the new month for financial markets, with the FTSE 100 sinking to levels not seen in over four weeks. After a volatile session, the FTSE 100 finished 58 points lower at 6,525. The last time the index finished low
Read moreLondon midday: Losses pared after UK, Eurozone manufacturing data
3rd Jun 2013 11:42
Disappointing factory activity in China prompted sharp falls in early trading on Monday, though losses were pared by lunchtime after some better-than-expected manufacturing figures closer to home. The FTSE 100 sunk to an intraday low of 6,512 early on, falling to levels not seen since the start of
Read moreTullow gains green light from Ghana government
30th May 2013 12:50
Tullow Oil has been granted government approval for a large development offshore Ghana. The Tweneboa-Enyenra-Ntomme (TEN) project is expected to produce its first oil in 2016 at an anticipated production rate of 80,000 barrels of oil per day (bopd). The TEN development is located in the Deepwater
Read moreLondon midday: Miners buoy markets ahead of US GDP
30th May 2013 11:21
The FTSE 100 was making meagre gains on Thursday morning as sentiment remained fragile following the sell-off the day before, with investors taking caution ahead of some key economic indicators. Global economic concerns sent London's top-tier index down 2.0% on Wednesday after the OECD slashed its
Read moreLondon open: Stocks rise after heavy sell-off
30th May 2013 08:27
Markets opened slightly higher on Thursday morning after falling to a two-week low the day before as concerns about the global economy continue to unnerve investors. The FTSE 100 slumped 2.0% on Wednesday after the OECD slashed its global growth estimates and the International Monetary Fund reduced
Read moreThursday 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
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