Tullow 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
Read moreTuesday broker round-up UPDATE
26th Mar 2013 07:41
Abbey Protection: Numis downgrades to hold with its target price at 120p. Aberdeen Asset Management: Bank of America raises target price from 425p to 455p keeping a neutral rating. JP Morgan moves target price from 498p to 532p, while its overweight rating remains unchanged. Exane BNP ups target pr
Read moreMonday broker round-up UPDATE
4th Mar 2013 07:12
Aggreko: JP Morgan takes target price from 1845p to 1870p, while reiterating a neutral rating. Anglo American: Nomura reduces target price from 1800p to 1700p and downgrades from neutral to reduce. ARM Holdings: Deutsche Bank increases target price from 400p to 445p, but still recommends selling.
Read moreLondon open: Footsie edges higher despite mining weakness
1st Mar 2013 09:02
UK stocks opened broadly higher on Friday morning but a disappointing reading of Chinese manufacturing weighed on the mining sector, limiting gains for the resource-heavy FTSE 100 index. The official Chinese manufacturing purchasing managers' index (PMI) fell from 50.4 to 50.1 in February. While t
Read moreTullow evaluating options after suspending Kenyan well
1st Mar 2013 07:43
FTSE 100-listed oil and gas producer Tullow has suspended its Paipai-1 exploration well in Kenya after struggling to bring oil to the surface, the company said on Friday morning. The well, located in the Marsabit County of Kenya Block 10A, was drilled to evaluated a large structural closure of Cret
Read moreLondon close: Stocks tank after Fed wavers on QE
21st Feb 2013 16:40
Hawkish comments from the Federal Reserve weighed heavily on markets on Thursday with cyclical stocks bearing the brunt of the sell-off as traders looked to book some profits after a strong run in recent months. The FTSE 100 was boosted on Wednesday to highs not seen since January 2008 after minute
Read moreLondon midday: Stocks plummet after Fed minutes, Eurozone PMI
21st Feb 2013 11:49
The FTSE 100 was registering triple-digit losses by Thursday lunchtime as uncertainty at the US Federal Reserve dampened risk appetite and spooked markets into a sell-off. London's benchmark index rose to highs not seen since January 2008 yesterday after minutes from this month's Bank of England Mo
Read moreLondon open: Stocks pull back after Fed questions QE
21st Feb 2013 08:23
After hitting highs not seen since January 2008 yesterday, the FTSE 100 pulled back on Thursday morning as minutes from the latest Federal Reserve meeting showed that some policy-makers have begun to question current quantitative easing (QE) measures in the States. Stocks were boosted on Wednesday
Read moreLondon pre-open: FTSE to slump in early trade
21st Feb 2013 07:31
City sources predict the FTSE 100 will open down 39 points from yesterday's close of 6,395, tracking both Asian and US stocks, with the latter sharply lower after minutes were released from the most recent meeting of policy-makers at the Federal Reserve. Polarized opinions as to the effectiveness
Read moreOil absent at Tullow Oil's Uganda exploration well
21st Feb 2013 07:06
Oil producer Tullow Oil has undertaken exploration at a well in Uganda and admitted that no hydrocarbons were found present. The FTSE 100-listed company reported that exploration drilling had continued in the Total-operated EA-1A block to the north of Lake Albert, with the Ondyek-1 exploration well
Read moreTuesday broker round-up UPDATE
19th Feb 2013 07:30
Admiral Group: Investec takes target price from 570p to 582p, but still recommends selling. Advanced Medical Solutions: Investec upgrades from hold to buy with a target price of 68p. African Barrick Gold: Canaccord Genuity reduces target price from 360p to 305p keeping a hold rating. Anglo Americ
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