Tullow 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
Read moreTullow rises after Kenyan oil find
31st Oct 2012 11:14
Shares in oil and gas producer Tullow Oil surged after the firm announcing that its Twiga South-1 exploration well onshore Kenya Block 13T has successfully encountered oil. Following media speculation in Kenya the firm said released a press release on Wednesday morning confirming the find, spurring
Read moreLondon midday: Hargreaves leads risers in morning trade
15th Oct 2012 11:30
- Chinese export data beats forecasts - Eyes on Greece and Spain - Hargreaves Lansdown extends gains. Better-than-expected Chinese export data and hopes for the Eurozone were lifting stocks on Monday morning, with the Footsie up 0.5 per cent by lunchtime. Chinese exports increased at an annual rat
Read moreLondon open: Chinese export data lifts stocks
15th Oct 2012 08:41
- Stocks gain as Chinese exports beat forecasts - EU summit in focus - Goldman downgrades several UK-listed miners UK stocks edged higher in early trading on Monday on the back of some robust export data from China, though gains were only modest as uncertainty in the Eurozone continues to be a drag
Read moreLondon pre-open: Eurozone uncertainty to hit stocks early on
15th Oct 2012 07:23
London's FTSE 100 index is expected to open slightly lower on Monday morning on the back of concerns over Eurozone finances. City sources predict that the Footsie will open down around eight points from Friday's close of 5,793. "Corporate earnings are likely to take a back seat this week ahead of
Read moreTullow farms in to Tooq licence off coast of Greenland
15th Oct 2012 07:07
Irish oil titan Tullow Oil is to take a stake in Block 9 (Tooq licence), Baffin Bay, north-western Greenland, which is operated by Maersk Oil. Tullow will take a 40% stake, putting its interest just behind Maersk's at 47.5%; Greenland's state oil company, Nunaoil, holds the remaining interest in th
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