Broker 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
Read moreLondon midday: Footsie at nine-month high after German ZEW data
11th Dec 2012 11:51
- German ZEW surges in December - Whitbread impresses with Q3, Tullow drops - Footsie at highest since March After a subdued start, a much better-than-expected reading of German sentiment boosted buying this morning, sending the FTSE 100 to a nine-month high by Tuesday lunchtime. The Footsie is no
Read moreBroker tips: BHP Billiton, Tullow, Whitbread
11th Dec 2012 11:12
Nomura has labelled BHP Billiton as its preferred name in the global metals and mining industry, reiterating its 'buy' recommendation and 2,350p target price for the shares. "We believe it is time for a change of mindset in terms of how many in the market view the sector. Although we think trading
Read moreBroker snap: Jefferies highlights Tullow's potential for 2013
11th Dec 2012 10:56
Jefferies has reiterated its 'buy' rating and 1,800p target price for oil giant Tullow, saying that the company has 'material' exploration potential in 2013. The company announced on Tuesday morning that it has acquired Norwegian explorer Spring Energy and plans to dispose of its UK and Dutch North
Read moreLondon open: Stocks cautious ahead of German ZEW data
11th Dec 2012 08:33
The FTSE 100 index started Tuesday's session cautiously with just 12 points separating the intraday low and high in the opening hour as the focus remains fixed on Mario Monti and 'fiscal cliff' discussions in the US. However, with little significant economic data scheduled for today's session, all
Read moreTullow to buy Spring Energy and dispose of North Sea gas assets
11th Dec 2012 07:51
London-listed oil titan Tullow has said that it is to buy Norwegian exploration group Spring Energy Norway, as it announced that it will begin disposing of its non-core gas assets in the North Sea. The firm is paying $372.3m for Oslo-based Spring, which holds 28 offshore licences across Norway's co
Read moreLondon close: Stocks rally on 'fiscal cliff' optimism
10th Dec 2012 16:39
- Obama-Boehner meeting sparks optimistic mood - Italian PM steps down - Economic data from Asia comes in mixed Optimism that US law-makers can agree over the impending 'fiscal cliff' managed to offset concerns regarding political uncertainty in Italy, with the FTSE 100 rallying to finish with smal
Read moreBroker snap: Tullow's been oversold, says Galvan Research
10th Dec 2012 15:10
The recent sell-off at Tullow Oil has been overdone, according to Galvan Research, which labels the oil and gas explorer as a 'buy'. "Rather as in the case of drugs giants seeing their shares marked down 10% in the wake of a trial disappointment, the market tends to over react on the downside when
Read moreFTSE 100 movers: AB Foods and Tullow Oil lead the risers
10th Dec 2012 14:44
Primark and food products giant Associated British Foods was the high riser on the Footsie on Monday afternoon, extending gains after Friday annual general meeting at which it revealed a strong start t o the new financial year. Oil group Tullow Oil was performing well today, rebounding after its re
Read moreLondon close: Markets unfazed by Osborne's budget
5th Dec 2012 17:10
- Miners gain on Chinese optimism - OBR cuts GDP forecasts - US ISM data lifts markets in afternoon trade The Footsie finished the day with decent gains on Wednesday as investors mostly shrugged off Chancellor George Osborne's budget statement, with the upbeat mood helped by economic data from the
Read moreBroker tips: Tesco, HSBC, Tullow Oil
5th Dec 2012 11:16
Nomura has cut its forecasts for supermarket giant Tesco on the back of a weaker trading in Europe, but has maintained its 'buy' rating, hailing the group's strong UK grocery performance. The broker also said that the company's strategic review in the US "points to a management team willing to act
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