Tullow Oil cuts production target again
9th Nov 2011 07:41
FTSE 100 explorer Tullow Oil released a bullish update for the third quarter, but said that slower than expected production in Ghana had forced it to cut targets again. "Group production for 2011 is now expected to average 79-81,000 barrels of oil equivalent per day (boepd) due to slower than expec
Read moreTullow in new Mauritanian agreement
31st Oct 2011 07:04
Irish oil behemoth Tullow Oil has signed a new production sharing contract (PSC) with the government of Mauritania and its joint venture partners. The PSC will enable Tullow to advance the appraisal and development of existing discoveries and also pursue exploration in a new contract area covering
Read moreLondon close: Choppy FTSE 100 closes lower
28th Oct 2011 17:08
Shares finished slightly lower after a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an average 3% last night after le
Read moreLondon midday: Pause for breath after euro boost
28th Oct 2011 12:01
Shares are still flat amid a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. SUBDUED START AFTER YESTERDAY'S SURGE Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an a
Read moreLondon open: Flat start for the Footsie
28th Oct 2011 08:40
The FTSE 100 opened flat on Friday morning following yesterday's massive 2.9% gain on the back of strong US economic data and the pivotal Eurozone agreements announced yesterday. SUBDUED START AFTER STRONG DAY ON THURSDAY Stock markets across the globe surged higher yesterday, with the three US b
Read moreLondon close: Big gains on Euro hopes
27th Oct 2011 16:43
Stocks posted big gains amid optimism following the agreements reached on the Eurozone situation last night. Banks in particular are on the attack, with Barclays and RBS posting double-digit gains. EUROZONE AGREEMENT BOOSTS THE MARKETS Working into the early hours of the morning, Eurozone official
Read moreLondon midday: Double-digit gains for Barclays, RBS
27th Oct 2011 12:04
Stocks are posting big gains amid optimism following the agreements reached on the Eurozone situation last night. Banks in particular are on the attack, with Barclays and RBS posting double-digit gains. EUROZONE AGREEMENT BOOSTS THE MARKETS Working into the early hours of the morning, Eurozone off
Read moreLondon open: Markets celebrate euro agreements
27th Oct 2011 08:30
Just one stock was in the red on the FTSE 100 in the opening minutes of Thursday, as markets turned bullish on the back of a three-prongued deal in the Eurozone last night. The blue chip index in London jumped 1.85% early on, joining all major benchmarks across the continent this morning, with indic
Read moreUPDATE: Thursday broker round-up
13th Oct 2011 09:42
Logica: RBS raises target from 110p to 115p and keeps buy rating. F&C Asset Management: RBS cuts target from 72p to 65p, hold rating maintained. Henderson: RBS scales back target from 183p to 170p, but keeps buy recommendation. Anglo American: Credit Suisse maintains neutral rating and 3,500p tar
Read moreLondon close: Stocks dive in late trading
28th Sep 2011 16:40
Stocks gave up an earlier rally to finish firmly in the red amid continued nervousness ahead of an audit of Greece's finances. There is speculation that some countries in the Eurozone are demanding that private investors take a bigger hit on their holdings of Greek debt. European Commission Presi
Read moreLondon midday: Stocks win back losses after Barroso comments
28th Sep 2011 12:16
The top share index is flat now after winning back earlier losses, with comments by European Commission President Jose Manuel Barroso helping to stoke optimism that the euro crisis will be resolved. Barroso has called on the European Central Bank to do everything in its power to maintain stability
Read moreLondon open: Stocks ease after surge
28th Sep 2011 08:35
Shares have fallen back a little in early dealings, unsurprisingly given yesterday's surge. Hedge fund manager Man Group took investors by surprise though and the shares are sharply lower. It said statutory profit before tax on continuing operations for the six months ending 30 September 2011 total
Read moreTullow chuffed with latest appraisal well result
28th Sep 2011 07:40
Irish oil company Tullow Oil says it is close to declaring its Enyenra and Tweneboa development a commercial proposition, after drilling of the Enyenra-3A appraisal well, in the Deepwater Tano licence offshore Ghana, encountered oil. Pressure data indicates that the Enyenra-3A well has confirmed an
Read moreLondon pre-open: Eurozone rescue hopes start to fade
28th Sep 2011 07:21
It looks like the wheels are starting to come off the Eurozone debt crisis rescue bandwagon, after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others. Though Wall Street had another positive
Read moreHeritage Oil loses bid over tax dispute
22nd Sep 2011 16:22
Heritage Oil has lost its bid to suspend proceedings over a tax dispute arising from its sale of interests in Uganda last year. Since the Ugandan High Court made the ruling last week, the government has continued to seek to recover at least $404m in taxes levied on Heritage's $1.45bn sales of stak
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