Broker tips: Tullow, Debenhams, Gold miners
18th Apr 2013 11:14
Tullow Oil's recent pull-back due to investor uncertainty over its exploration-led strategy has created a buying opportunity, according to Societe Generale, which has upgraded its rating for the shares from 'hold' to 'buy'. "Short-term catalyst-driven investors should now have moved on from the s
Read moreBroker snap: Societe sees buying opportunity at Tullow Oil
18th Apr 2013 10:42
Tullow Oil's recent pull-back due to investor uncertainty over its exploration-led strategy has created a buying opportunity, according to Societe Generale, which has upgraded its rating for the shares from 'hold' to 'buy'. The stock has fallen 21% in April alone, the broker explains, as a result
Read moreThursday broker round-up UPDATE
18th Apr 2013 07:16
African Barrick Gold: Investec reduces target price from 315p to 286p keeping a hold recommendation. BHP Billiton: JP Morgan cuts target price from 2380p to 2330p, while leaving its neutral rating unchanged. Deutsche Bank lowers target price from 2350p to 2334p keeping a buy recommendation. Big Ye
Read moreLondon close: Stocks hit by fears over growth, US earnings
17th Apr 2013 16:50
Fears over economic growth and a raft of disappointing earnings in the States weighed heavily on global markets on Wednesday, while a number of heavyweight stocks going ex-dividend dampened the FTSE 100 in London. Bank of America (BofA) was the first major US bank to miss forecasts this earnings se
Read moreFTSE 100 movers: Tullow Oil dives on drilling plans
17th Apr 2013 14:47
Tullow Oil saw its shares drop significantly after its joints venture partner Northern Petroleum gave an update on one of its wells at its joint venture project in French Guiana. Following an announcement by Northern Petroleum, the company confirmed that the GM-ES-3 well, which to-date has had no si
Read moreTullow Oil declines after Northern Petroleum issues JV well update
17th Apr 2013 13:48
Tullow Oil saw its shares drop significantly after its joints venture partner Northern Petroleum gave an update on one of its wells at its joint venture project in French Guiana. Following an announcement by Northern Petroleum, the company confirmed that the GM-ES-3 well, which to-date has had no
Read moreLondon midday: FTSE 100 on track for fourth straight loss
17th Apr 2013 11:39
A number of heavyweight stocks going ex-dividend assured that London's FTSE 100 index was in the red for a fourth consecutive day on Wednesday, while concerns over the global economy continued to weigh on sentiment. Global growth fears have hit markets over the last few days after a surprise slowdo
Read moreLondon open: Ex-div stocks sink markets early on
17th Apr 2013 08:47
The FTSE 100 was in the red for the fourth straight day on Wednesday as a number of ex-dividend stocks provided a drag on London's benchmark index. Global growth concerns have weighed on markets over the last few days after a surprise slowdown was reported in China in the first quarter. These fears
Read moreLondon midday: Chinese slowdown sinks miners and commodity prices
15th Apr 2013 11:21
A sell-off in the mining sector pulled the FTSE 100 over one per cent lower on Monday morning as disappointing growth figures from China and downgraded gold-price targets weighed on markets. China's first-quarter gross domestic product (GDP) growth dropped from 7.9% in the prior quarter to 7.7%, wh
Read moreLondon pre-open: FTSE to edge slightly lower ahead of busy week
15th Apr 2013 07:32
City sources predict the FTSE 100 will open down two points from Friday's close of 6,384, as traders brace themselves for another busy week, nationally and internationally. The week has begun on a less than positive note with China announcing less than impressive figures for both production and econ
Read moreTullow Oil reports successful first flow test of Ngamia-1 well in Kenya
15th Apr 2013 07:30
FTSE 100-listed Tullow Oil has reported a successful first flow at its Ngamia-1 well in Kenya and hydrocarbon indications at the Sabisa-1 well in Ethiopia. In an operational update issued on Monday morning, the independent oil and gas exploration company reported that the first of six drill stem te
Read moreLondon midday: Miners lead the Footsie higher
9th Apr 2013 11:33
Miners were making impressive gains by Tuesday lunchtime after price rises in China slowed more than forecast in March, increasing hopes that the People's Bank of China will hold off from tightening policy for the time being. Chinese consumer-price inflation slowed to a 2.1% annual rate in March,
Read moreLondon open: Mining stocks boosted by Alcoa, Chinese inflation
9th Apr 2013 09:08
The FTSE 100 opened strongly on Tuesday, taking its cue from a decent finish on Wall Street after bellwether Alcoa reported better-than-expected profits in the first quarter, kicking off earnings season with a bang. Profits from the aluminium producer rose 59% year-on-year despite a slight drop in
Read moreTullow Oil sells Bangladesh assets to KrisEnergy Asia
9th Apr 2013 07:04
Tullow Oil has agreed to sell its Bangladesh arm to KrisEnergy Asia Holdings BV, a subsidiary of KrisEnergy Asia, for 42.35m dollars. The sale is conditional upon receipt of government of Bangladesh and Petrobangla approvals. "I am pleased that the sale and purchase agreement of Tullow's Banglades
Read moreLondon close: Markets hold on to gains despite shaky start in US
8th Apr 2013 16:43
UK stocks finished moderately higher on Monday, rebounding after a heavy sell-off the previous session, with markets managing to hold on to gains despite a shaky start on Wall Street as investors turned cautious ahead of US earnings season. US benchmarks were trading slightly lower after the openin
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