Shell and Northern Petroleum begin drilling oil well in French Guiana
3rd Jan 2013 10:14
Shell and its partners have started drilling the second of four oil wells in the Guyane Maritime Permit in French Guiana. Shell holds 45% in the Guyane Maritime offshore exploration licence along with Total (25%), Tullow Oil (27.5%), Northern Petroleum (1.25%) and Wessex Exploration (1.25%). The
Read moreLondon close: Footsie slips into the red by the close
14th Dec 2012 16:28
After a decent start after some upbeat Chinese data, the Footsie was pressured into the red by the close of trade on Friday following a weak open on Wall Street. Nevertheless, losses in London were only modest, with the blue-chip index remaining close to the nine-month high reached earlier this week
Read moreFTSE 100 movers: Miners gain on comments from UBS
14th Dec 2012 16:01
Mining stocks were among the best performers on Monday afternoon after UBS said that 2013 could provide meaningful upside to some commodity prices. "In our opinion, the macro backdrop for commodities is improving, with the new Chinese/ US governments promising pro-growth policy," the broker said.
Read moreLondon midday: Gains erased as resource stocks shrug off Chinese data
14th Dec 2012 11:54
After a positive start, London's benchmark FTSE 100 index slipped into the red by midday, as investors shrugged off some better-than-expected data from Asian powerhouse China. The HSBC China flash manufacturing purchasing managers' index (PMI) rose from 50.5 to 50.9 in December, slightly above the
Read moreLondon close: 'Fiscal cliff' concerns keep markets under pressure
13th Dec 2012 16:45
- Boehner says White House not serious about 'cliff' - Stocks shrug off Fed stimulus - Centamin plummets after mine suspension Stocks markets across Europe took a breather on Thursday, following a strong performance over the last month, as investors digested stimulus plans by the Federal Reserve an
Read moreFTSE 100 movers: Wood Group falls as update comes in mixed
13th Dec 2012 15:48
Energy services giant Wood Group fell after it reported mixed trading in its Upstream division and despite saying it expects to deliver good growth this year, with overall conditions in energy markets remaining 'favourable'. AstraZeneca fell after revealing that its experimental drug for rheumatoi
Read moreLondon close: Stocks rise as investors await the FOMC
12th Dec 2012 16:59
UK stocks finished Wednesday's session with decent gains, extending its recent winning streak into its sixth day, with investors widely expecting the US Federal Reserve to reveal more stimulus measures in the coming hours. The Footsie closed at its highest level since March 19th when it finished th
Read moreFTSE 100 movers: Resources lifted by rising metal prices
12th Dec 2012 14:55
Resource stocks were leading the way on the FTSE by the afternoon on Wednesday, boosted by rising metal prices and hopes that US law-makers can come to an arrangement over the impending 'fiscal cliff'. Optimism was sparked at the weekend following President Barack Obama and House Speaker John Boeh
Read moreBroker tips: Tullow, Diageo, Imagination Technologies
12th Dec 2012 12:35
Credit Suisse has downgraded its rating for oil giant Tullow from 'outperform' to 'neutral', saying that it may take some time for investor confidence to return. "While we admire TLW's ability to access acreage and its attractive exploration portfolio, where we see several 'big' opportunities to po
Read moreLondon midday: Stocks pull into the blue
12th Dec 2012 11:33
The FTSE 100 had pulled into positive territory by Wednesday lunchtime, extending its recent winning streak into its sixth day, but the mood was cautious ahead of the conclusion of the Federal Reserve policy meeting later today. The Federal Open Market Committee (FOMC) meeting is widely expected to
Read moreBroker snap: Credit Suisse downgrades Tullow after recent disappointments
12th Dec 2012 09:10
Credit Suisse has downgraded its rating for oil giant Tullow from 'outperform' to 'neutral', saying that it may take some time for investor confidence to return. "The past few weeks have hit investor confidence in TLW shares, especially its ability with the drill bit, and the investment case largel
Read moreLondon open: Stocks flat ahead of Fed meeting
12th Dec 2012 08:23
The Footsie opened flat on Wednesday morning after hitting a nine-month high the day before, with investors showing caution ahead of the conclusion of the Federal Reserve policy meeting later today. The blue-chip index closed yesterday's session at 5,925, following five days of straight gains. The
Read moreWednesday broker round-up UPDATE
12th Dec 2012 07:25
AMEC: Credit Suisse reduces target price from 1300p to 1250p reiterating an outperform rating. Anglo American: Barclays upgrades to equal-weight with a target price of 1970p. Ashtead Group: Barclays raises target price from 352p to 434p and reiterates an overweight rating. ASOS: HSBC raises targe
Read moreLondon close: 'Fiscal cliff' hopes lift markets
11th Dec 2012 16:56
- Fiscal cliff optimism increases ahead of FOMC - German ZEW smashes expectations - Tullow drops 8.4 per cent After a weak start, the FTSE 100 finished Tuesday's session with slight gains on the back of increasing optimism about the 'fiscal cliff', as well as a better-than-expected reading of Germa
Read moreFTSE 100 movers: Tullow drops after Ghanaian well update
11th Dec 2012 14:24
Oil giant Tullow tanked on Tuesday after revealing that its Okure-1 exploration well offshore Ghana had encountered 'low net to gross oil bearing reservoir in a secondary objective'. The markets seemed to shrug off its other announcement that it plans to buy Norwegian exploration group Spring Ener
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