Tullow optimistic after oil find offshore Ghana
18th Jul 2012 07:08
Oil and gas giant Tullow has found oil and gas-condensate at its Wawa-1 well offshore Ghana, the first of three important remaining exploration wells to be drilled in the second half of 2012. This will be welcomed news for the company's shareholders who were disappointed on Monday after the firm sa
Read moreTuesday broker round-up
17th Jul 2012 08:15
ARM: Citigroup cuts target from 730p to 600p, buy recommendation maintained. AstraZeneca: Bernstein reduces target from 3,037p to 3,002p, market perform rating kept. Beazley: JP Morgan Cazenove raises target from 147p to 155p, neutral rating kept. Bodycote: JP Morgan Cazenove cuts target from 437
Read moreLondon close: Global growth concerns weigh on stocks
16th Jul 2012 16:39
- China's Wen dampens sentiment - IMF cuts global growth forecast - G4S, Tullow, Sage and Barclays lead the fallers The FTSE 100 finished flat on Monday as a late burst of buying helped the benchmark index recover some of its earlier losses on the back of concerns over the global economic outlook.
Read moreTullow Oil abandons Guyanese well due to safety concerns
16th Jul 2012 14:00
Shares in Tullow Oil took a tumble on Monday afternoon after the group announced that it has plugged and abandoned a well in Guyana due to safety concerns. The Jaguar-1 well in the Georgetown Block, offshore Guyana in which it has a 30% interest, drilled to a depth of 4,876 metres without reaching
Read moreSunday newspaper round-up: RBS, Glaxo, National Grid
15th Jul 2012 15:34
Two powerful private equity consortiums are secretly planning to bid for Direct Line, the giant insurer owned by Royal Bank of Scotland ? a move that would scupper a planned float. RBS is expected to push the button on a London listing of Direct Line in September. Two American buyout giants, Blackst
Read moreThursday broker round-up
12th Jul 2012 08:41
African Minerals: Credit Suisse cuts target from 800p to 740p, outperform rating kept. Anglo American: Credit Suisse cuts target from 2,900p to 2,500p, neutral rating unchanged. Antofagasta: Credit Suisse cuts target from 1,300p to 1,150p, neutral rating kept. Aquarius Platinum: Credit Suisse cut
Read moreThursday tips round-up: Manchester United, Taylor Wimpey, Tullow Oil
5th Jul 2012 07:01
In the Financial Times, the Lex column takes a quick look at the proposed listing of Manchester United in New York. The initial public offering is currently targeting 100m dollars but Lex thinks this is a 'nominal' amount, with the actual amount likely to be higher. The finances of football are in
Read moreLondon close: Stocks flat, attention turns to Barclays late on
4th Jul 2012 16:48
- Former Barclays CEO quizzed by MPs over LIBOR fixing - Market subdued as Wall Street closed - Tomorrow's policy decisions eyed After a brief foray into positive territory, gains for the Footsie were pared in the final hour of trade with the focus shifting to Barclays as its former boss was being
Read moreFTSE 100 movers: Glencore and Xstrata rise despite rumours
4th Jul 2012 13:59
Potential merger partners Glencore and Xstrata were high risers despite reports the Xstrata shareholder Knight Vinke said it was against the deal on its original terms. Tobacco giants Imperial Tobacco and British American Tobacco were also in demand after Moody's Investors Service said that Europe
Read moreLondon midday: Footsie edges lower on weak PMI data
4th Jul 2012 11:34
- PMI data from China and Europe disappoints - US markets closed for July 4th - Investors await policy decisions tomorrow The Footsie was trading within a narrow range of just 17 points on Wednesday as volumes were seen to be light given that Wall Street is closed for Independence Day. Disappointin
Read moreLondon open: Markets cautious ahead of policy decisions
4th Jul 2012 08:38
- Ex-div stocks provide a drag in London - Chinese economic data dampens the mood - US markets closed for national holiday UK stocks slipped in early trading on Wednesday with volumes expected to be light as US markets remain closed for Independence Day; investors are likely to be cautious ahead of
Read moreLondon pre-open: Small declines forecast for FTSE
4th Jul 2012 07:34
City sources predict the FTSE 100 will open down 12 points from yesterday's close of 5,688, with little guidance from the US following a half day of trading. Echoing statements made by sector peer Persimmon on Tuesday, house builder Taylor Wimpey said the first half of 2012 was a stable one for th
Read moreRecord first-half revenues for Tullow
4th Jul 2012 07:04
Tullow Oil expects revenues in the first half of 2012 to set a new record and said that it remains well-placed for continued success for the rest of the year. Revenue in the six months to June 30th is estimated to be $1.15bn, up from $1.06bn the year before. Group working interest production in th
Read moreBroker tips: Carnival, Polymetal, Tower Resources...
25th Jun 2012 11:26
Investec has labelled cruise operator Carnival as a 'key sector pick', saying that the recent dip in the share price should be used as a buying opportunity; the target price is lifted from 2,500p to 3,000p. "We advise utilising Friday's drop to invest in our sector key pick, with the group having:
Read moreBroker snap: Jefferies downgrades Tower and Cove
25th Jun 2012 11:23
Jefferies has downgraded its ratings for both Tower Resources and Cove Energy as part of its review of the oil and gas exploration and production sector. "We continue to favour E&Ps with high quality exploration with near-term exploration catalysts. We believe oil prices should stabilise as Saudi A
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