Tullow Oil abandons Ghanian well
4th May 2012 07:05
Oil giant Tullow has revealed disappointing results from the Teak-4A appraisal well in the West Cape Three Points Block, offshore Ghana. In a short statement, the group said that Teak-4A, in which it is a 26.396% parter, was drilled by operator Kosmos Energy and was drilled to a total depth of 2,85
Read moreFTSE 100 movers: Hargreaves Lansdown in top spot on record third quarter
19th Apr 2012 14:49
Hargreaves Lansdown, the financial services provider and asset management group, rose strongly after seeing a record level of Assets under Administration (AuA) in the three months to March 31st despite the tough macro-economic conditions. Engineer IMI was a high riser after Jefferies upgraded its r
Read moreTullow reports oil shows
19th Apr 2012 13:55
Oil and gas firm Tullow has announced that the Mercury-2 exploratory appraisal well in Sierra Leone and the Kosrou-1 exploration well in Côte d'Ivoire have both encountered water bearing reservoirs with oil shows. Tullow holds a 20% stake in Mercury and 22% in Kosrou. Angus McCoss, Exploration D
Read moreThursday broker round-up
12th Apr 2012 09:30
African Minerals: Jefferies keeps buy rating and 1,100p target. Aggreko: Investec maintains buy rating. Cairn Energy: Nomura cuts target from 500p to 434p, buy rating kept. Faroe Petroleum: Nomura cuts target from 213p to 209p, buy rating kept. FirstGroup: Jefferies downgrades from buy to hold,
Read moreLondon close: Footsie back above 5,900 after Bernanke comments
26th Mar 2012 16:44
- German confidence continues to improve - Merkel in favour of boosting firewall - Bernanke hints at continued support for economy London's blue chip index finished close to its intraday highs on Monday helped by positive news flow from Europe and remarks from the Federal Reserve. Stocks were rebou
Read moreTullow makes 'excellent' start in Kenya, finds oil in first well
26th Mar 2012 15:07
It seems as if Tullow Oil's exploration campaign in Kenya has got off to a pretty good start, with its first exploration well encountering more than 20 metres of net oil pay. The Ngamia-1 well, located in the Turkana Country of Kenya Block 10BB, is Tullow's first prospect to be tested as part of th
Read moreLondon close: Losses trimmed by news from Greece
19th Mar 2012 17:03
- Greek CDS auction finishes in line with expectations - Greece expects GDP to fall 4.5 per cent in 2012 and 0.5 per cent in 2013 - Markets await Wednesday's Budget The FTSE 100 finished only slightly in the red after a positive start on Wall Street, which saw UK stocks trim losses in afternoon tra
Read moreBroker tips: Tullow Oil, Misys, Copper miners
19th Mar 2012 12:28
Galvan Research and Trading has labelled Tullow Oil as a 'very strong buy' following last week's full-year results. "Ongoing good news and fresh oil discoveries in Africa just keep rolling in at Tullow Oil, while the solid gold fundamentals are backed by a near 500% rise in profits last year. On th
Read moreBroker snap: Tullow to hit 52-week highs in coming weeks, says Galvan
19th Mar 2012 12:26
Galvan Research and Trading has labelled Tullow Oil as a 'very strong buy' following last week's full-year results. Pre-tax profit for the 12 months ended December 31st surged by 499% from $179m to $1,073m on sales that jumped 111% from $1,090m to a record $2,304m. Working interest production incre
Read moreLondon midday: Losses pared but Footsie still down
19th Mar 2012 11:42
- Greece 'more than halfway' along path to recovery - Vodafone up on tax benefit reports from CWW takeover - Misys jumps on recommended bid from Vista Losses were halved by lunchtime but the Footsie still remained in the red on a relatively quiet day for company results and economic data. Markets a
Read moreMonday broker round-up - UPDATE
19th Mar 2012 09:37
Antofagasta: Exane BNP Paribas upgrades from neutral to outperform, target lifted from 1,200p to 1,450p; Nomura cuts target to 1,500p from 1,650p, buy rating unchanged. AstraZeneca: Goldman Sachs cuts target from 3,350p to 3,306p, neutral rating kept. Barclays: UBS raises target from 240p to 272p,
Read moreLondon close: Footsie finishes strongly as banks, miners provide a lift
16th Mar 2012 16:47
- Footsie finishes the week up 1.4 per cent - Eurozone debt crisis eases, US data mixed - Essar closes up 10 per cent The Footsie finished the week strongly, closing not too far off the elusive 6,000 mark, with financials and miners making ground as tensions arising from the Eurozone's debt crisis
Read moreFTSE 100 movers: Lower gold price hits miners
16th Mar 2012 15:39
Polymetal and Randgold Resources both dropped lower, as gold prices took a hit. Polymetal continues to make headlines concerning the rumoured merger with Russian peer Polyus Gold, which is aiming to raise its free float to 25% (from 14%) in order to gain a long-awaited premium listing on the FTSE
Read moreLondon midday: Footsie extends gains, RBS leads the rise
16th Mar 2012 11:32
- RBS up over five per cent after upgrade - Tullow Oil strikes again off the coast of Ghana - Footsie up 1.4 per cent on the week The FTSE 100 was continuing to set new intraday highs by lunchtime, helped by a strong performance by financial and resource stocks. It has been a relatively quiet day f
Read moreLondon open: Financials gains, US data eyed
16th Mar 2012 08:52
- Financials stock, Tullow oil lead the rise on the Footsie - Barroso sees improvement in the Eurozone - Oil prices rebound London's blue chip index advanced in the opening hour on Friday on a relatively quiet day for company news. Investors will be looking ahead to industrial production and consum
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