London midday: Essar recovery pushes Footsie into the blue
18th Jan 2012 12:01
The Footsie pushed into positive territory in late morning trade, helped the blue chip index nudge above the 5,700 mark, helped by a strong recovery from Essar Energy and a well-received trading update from Man Group. Nevertheless, investors are keeping a close eye on Athens today as Greek private
Read moreWessex down on Jubilee gloom
18th Jan 2012 09:59
Wessex Exploration has fallen today on news of delays to the ramp up of the Tullow-owned Jubilee field in Ghana. Wessex owns a 1.25% stake in the project which, according to reports today, will require $400m in design alterations. It's now thought peak oil production of 120,000 barrels a day will
Read moreBroker snap: Tullow disappoints again, says finnCap
18th Jan 2012 09:47
FinnCap has maintained its sell rating on oil giant Tullow after its production figures again missed targets. The firm said that production for 2011 averaged 78.2 thousand barrels of oil equivalents per day (mboepd), slightly below the (already revised lower) guidance of 79-81mboepd and the 80.4mbo
Read moreWednesday broker round-up
18th Jan 2012 09:32
BT Group: UBS downgrades from buy to neutral, target cut from 230p to 210p. Tullow Oil: finnCap retains sell rating and 1,000p target. Man Group: Peel Hunt keeps buy stance but puts 245p target under review. Vodafone: On UBS's most preferred telecoms list. Rio Tinto: UBS cuts target from 5,500p
Read moreLondon open: Tullow, BHP lead resource stocks lower
18th Jan 2012 08:21
Yesterday's optimism - on the back of positive macro data from China, Germany and the US - seems to have been short-lived, with the FTSE 100 falling in to the red in early trading on Wednesday. Eurozone concerns are now again in focus with meetings between the Greek government an private creditors s
Read moreLondon pre-open: Stocks to open marginally lower
18th Jan 2012 07:25
City sources predict the FTSE 100 will open down 5 points from yesterday's close of 5,693, ahead of today's unemployment rate announcement. It seems that yesterday's cheery mood - on the back of positive economic data from China, Germany and the US - was short-lived, as attention also turns to cruci
Read moreTullow hit by delay in ramp-up at Jubilee field
18th Jan 2012 07:13
Soaring oil prices contributed to a bumper 2011 for Tullow Oil, the Irish integrated oil company, but 2012 was more on the mind of investors, who marked down the shares on news of a delayed ramp-up to production at the firm's Jubilee field. "Record revenues and cash flows from increased production
Read moreLondon open: Footsie up early on, pharmas fall
9th Jan 2012 08:18
London's FTSE 100 opened slightly higher on Monday morning helped by banking titans Royal Bank of Scotland and HSBC. Oil stocks Essar Energy, Tullow Oil and Royal Dutch Shell were tracking oil prices higher. Today's big event will be the meeting of German Chancellor Angela Merkel and French Preside
Read moreLondon midday: Old Mutual and miners provide a lift
15th Dec 2011 11:46
The Footsie held on to gains by lunchtime, breaking through the 5,400 level, with strong gains for Old Mutual and the miners lifted London's blue chip index 0.6% higher. In domestic news, the volume of UK retail sales fell by 0.4% in November compared to the month before, according to the latest da
Read moreLondon close: Miners drag Footsie down 2.3%
14th Dec 2011 16:42
The FTSE 100 index finished at its lowest levels of the day on Wednesday, closing over 100 points down from Tuesday's close of 5,490. Just one stock in London, Morrison, finished in the blue, while the heavyweight mining sector dominated the downward direction. Markets remain concerned with the ong
Read moreLondon close: Merkel comments weigh, Footsie pares gains
13th Dec 2011 16:21
London's blue chip index experienced a boost on Tuesday afternoon, helped by a strong Spanish bond auction and a better-than-expected German confidence survey. However, stocks began to retreat late on after some worrying comments from Angela Merkel and rumours of disruption to oil exports in the Per
Read moreFriday broker round-up - UPDATE
18th Nov 2011 09:42
Pennon: Deutsche Bank upgrades to buy from hold. Capita: Peel Hunt reiterates buy and 850p target. Capita: Investec slashes target to 630p from 725p, hold maintained. Chemring: finnCap downgrades from buy to hold, target slashes from 780p to 480p. ICAP: UBS cuts target from 380p to 328p, sell ra
Read moreLondon open: Capita leads London lower
18th Nov 2011 08:47
London cannot escape the shadow of the Eurozone as shares open lower on fears of debt contagion among the European countries sharing the common currency. With the exception of GlaxoSmithKline, National Grid, Hargreaves Lansdowne and InterContinental Hotels, it is a clean sweep for the laggards amon
Read moreTullow Oil seals Suriname deal with Statoil
18th Nov 2011 08:00
Tullow Oil, the independent oil major, has sold a 30% stake in its exploration operations in Suriname to the Norwegian company Statoil. Suriname, a country on the northeastern coast of South America, claims its resources are virtually unexplored with only 22 exploration wells drilled in an area of
Read moreLondon pre-open: The only way is down
18th Nov 2011 07:41
Footsie may have rallied yesterday afternoon to pare its losses but after last night's lacklustre showing on Wall Street, the blue-chip index is set to resume its downward course this morning. City sources predict the FTSE 100 will open down 59 points from yesterday's close of 5,423. Outsourcing
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