London 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
Read moreBroker snap: Credit Suisse cuts target price for Tullow Oil
5th Dec 2012 10:46
Credit Suisse has cut its target price for Tullow Oil from 1,650p to 1,550p following Tuesday's news that the no commercial hydrocarbons were found at the Zaedyus-2 appraisal well, offshore French Guiana. The broker explained: "RDS - the operator since the initial discovery well - opted to drill up
Read moreWednesday broker round-up UPDATE
5th Dec 2012 07:19
Anglo American: Morgan Stanley reduces target price from 2110p to 1802p and keeps an equal weight rating. Brewin Dolphin Holdings: Peel Hunt raises target price from 185p to 230p and maintains a buy rating. British Sky Broadcasting Group: Nomura raises target price from 950p to 975p and reiterates
Read moreLondon close: US and Eurozone uncertainty keeps stocks flat
4th Dec 2012 16:50
- Democrats, Republicans wrangle over 'fiscal cliff' - Europe talks about bank supervisor - Defensives gain, resources fall The FTSE 100 swung between gains and losses for most of Tuesday's session to finish the day broadly flat as ongoing concerns about the US budget and developments in the Euroz
Read moreFTSE 100 movers: Shire leads defensive stocks higher
4th Dec 2012 15:34
Shire was leading the defensive stocks after investors exercised caution as budget uncertainty in the US continues to weigh on sentiment. British Gas owner Centrica rose after partner EDF Energy announced that it has extended the life of two UK power stations by seven years. Tesco was on investo
Read moreLondon midday: Tullow drops as Footsie edges higher
4th Dec 2012 11:38
UK stocks were making small gains by Tuesday lunchtime on the back of developments in the Eurozone, though the mood was cautious as budget uncertainty in the US continues to weigh on sentiment. The Ecofin is meeting today to agree to proposals on bank supervision and take stock of negotiations with
Read moreTullow Oil French Guiana Zaedyus-2 well comes up dry
4th Dec 2012 11:05
Commercial hydrocarbons have not been found at the Zaedyus-2 appraisal well in offshore French Guiana after Tullow Oil completed drilling but the group is confident the French Guiana block remains "highly prospective". The Zaedyus-2 well, which was drilled 5km up-dip from the Zaedyus 1 well, encoun
Read moreLondon midday: Markets rise after manufacturing data
3rd Dec 2012 11:35
- Chinese and Indian PMIs improve - UK manufacturing PMI beats forecasts - Miners provide a lift in London The Footsie had held on to gains by Monday lunchtime after some decent manufacturing figures from China and India, though the mood was cautious on the back of uncertainties surrounding the US
Read moreLondon open: Stocks rise after Chinese manufacturing figures
3rd Dec 2012 08:18
UK stocks opened in positive territory on Monday morning following some upbeat economic data from China and India, but gains were only moderate with the focus likely to be on Greece as Eurozone finance ministers meet in Brussels. The final reading for the HSBC China purchasing managers' index (PMI)
Read moreMonday broker round-up UPDATE
3rd Dec 2012 07:16
ARM Holdings: Exane BNP Paribas upgrades from neutral to buy. Ashtead Group: Bank of America starts with a target price of 460p and a buy recommendation. AstraZaneca: Berenberg raises target price from 3080p to 3100p; hold recommendation kept. Balfour Beatty: Investec reduces target price from 21
Read moreTullow strikes oil again in Kenya -UPDATE
26th Nov 2012 07:15
FTSE 100 explorer Tullow Oil said it had made a second discovery in the Lokichar Basin area of Kenya. The firm said the Twiga South-1 exploration well, in which it holds a 50% stake, had encountered 30 metres of net oil pay with further potential to be assessed on testing. It also encountered a ti
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