Tullow signs farm-in deal in Guinea
20th Nov 2012 13:46
Tullow Oil, the Irish oil titan, has agreed a farm-in with Hyperdynamics Corp for the sale of its 40 per cent interest in Hyperdynamics' oil and gas exploration concession offshore Guinea and the transfer of operatorship to Tullow. Under the agreement, Hyperdynamics Corp's wholly-owned subsidiary,
Read moreLondon close: Footsie drops over one per cent after Rehn comments
14th Nov 2012 16:32
- Olli Rehn says Spain has taken 'effective action' - UK data mixed; BoE cuts growth forecast - Mining and oil stocks sold off The Footsie lost nearly one per cent on Wednesday as risk appetite waned after comments from Olli Rehn on Spain and concerns about the global economy brought out the bears.
Read moreLondon midday: Risk appetite drops as Eurozone crisis drags on
14th Nov 2012 11:35
- Eurozone in focus as general strikes hit periphery - BoE's King gives gloomy outlook for Q4 UK GDP - Resources firms provide a drag; AMEC jumps With general strikes taking place in Spain, Portugal, Greece and Italy today, concerns about the ongoing Eurozone crisis have reignited this morning, pus
Read moreLondon open: Stocks fall on global economic concerns
14th Nov 2012 08:24
- Stocks track US markets lower on fiscal cliff concerns - Spain said to be nearing bailout request - Banks fall after broker downgrades Concerns about the global economy took centre stage again on Wednesday morning, causing the Footsie to sink early on as general strikes take place in Spain, Portu
Read moreLondon pre-open: FTSE set to track US stocks lower
14th Nov 2012 07:25
City sources predict the FTSE 100 will open down 26 points from yesterday's close of 5,786, tracking losses seen in the US overnight. After a strong start on the back of strong earnings from Home Depot, US stock markets yesterday sunk into the red by the close as concerns about the dreaded 'fiscal
Read moreTullow hitting its stride
14th Nov 2012 07:01
All of the financials are in line with expectations this year at Tullow, while the oil group remains on target to deliver average net production of 80,000 to 84,000 barrels of oil equivalent per day (boepd) for the full year. The group's interim management statement covering the second half of the
Read moreTullow refinances
7th Nov 2012 14:46
Tullow Oil, the company which has a heavy exploration programme ahead of it in Ghana, has completed a massive debt refinancing. The group has refinanced $3.5bn of Reserves Based Lend (RBL) credit facilities, replacing a previous facility which was due to expire in 2015. The $3.5bn of credit facil
Read moreLondon close: Footsie struggles to hold on to gains after jobs data
2nd Nov 2012 16:42
- US jobs provide temporary boost, but gains trimmed - Data unlikely to change Fed's stance, says analyst - Financials Admiral and RBS disappoint While the closely-watched US jobs report provided a bit of a bounce in early afternoon trade, the Footsie had pared gains to finish flat by the close as
Read moreFTSE 100 movers: IAG leaps on Charles Stanley comments
2nd Nov 2012 16:14
Airlines group IAG was the top performer this afternoon, up three per cent over 168p. Technical analysts at Charles Stanley said: "A close above 168p would suggest that this line is giving way and would amount to a 'trading buy' signal." Oil giant Tullow was also a high riser after JPMorgan Caze
Read moreLondon midday: Markets cautious ahead of US non-farm payrolls
2nd Nov 2012 11:30
- All eyes on US jobs data - Outcome could be a major factor in presidential elections - Admiral, Meggitt and RBS disappoint The FTSE 100 was little changed by Friday lunchtime, having trade within a narrow range for most of the morning session, with investors nervous ahead the pivotal employment
Read moreLondon open: Stocks fall ahead of key US jobs data
2nd Nov 2012 08:48
The FTSE 100 opened slightly lower on Friday morning following a strong rise the day before, as investors showed caution ahead of some pivotal economic data due out across the Pond later today. Financial trader Shavaz Dhalla from Spreadex said that investors are nervous about taking on too much ris
Read moreFriday broker round-up
2nd Nov 2012 08:18
Associated British Foods: Panmure Gordon keeps hold rating and 1,300p target. Balfour Beatty: Goldman Sachs downgrades to neutral, target cut from 330p to 322p. BG Group: Deutsche Bank downgrades to hold, target cut from 1,700p to 1,350p; Liberum Capital downgrades to hold. British Sky Broadcasti
Read moreLondon close: Sandy aftermath and Eurozone concerns sink stocks
31st Oct 2012 16:37
The resumption of trading on Wall Street after a two-day closure and a meeting of Eurozone finance ministers was enough to weigh on London's stock market on Wednesday, not to mention some sharp falls from heavy hitters BG Group and Barclays. US benchmarks re-opened in the red today after Hurricane
Read moreFTSE 100 movers: BG dives after slashing production guidance
31st Oct 2012 15:27
BG Group shocked the market today by cutting back production guidance as a result of a number of delays to project start-ups. It now expects full-year production will be just three per cent higher than in 2011, while 2013 output is not expected to show any growth at all. The firm also announced th
Read moreLondon midday: BG and Barclays provide a drag on the Footsie
31st Oct 2012 11:48
- BG drops nearly 20 per cent after cutting guidance - Barclays disappoints with Q3 results - US markets to re-open following two-day closure After a stable start, the FTSE 100 had dropped into negative territory by Wednesday lunchtime, with heavy falls from BG Group and Barclays providing a drag o
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