London 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
Read moreWednesday tips round-up: Abcam, National Express, IG
14th Sep 2011 06:34
Abcam initially produced primary antibodies, tools used in genetic research. Four fifths of its products go into laboratories and other research facilities funded by the public purse, which is a weakness. The company floated on AIM in 2005 with a market capitalisation of £57.5 million and is now wor
Read moreFTSE 100 Movers: Tullow rockets after discovery
9th Sep 2011 11:17
Good news for Tullow Oil sent its share price soaring after its joint venture with Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana. The Guyana Maritime permit said it has encountered 72m of net oil pay in two turbidite fans, and the results
Read moreLondon open: Footsie flat as investors show caution
9th Sep 2011 08:31
The Footsie opened unchanged from yesterday's close, with the markets digesting an underwhelming jobs speech by President Obama last night. Describing the stalling of US economic growth as a "national crisis", Obama unveiled his much-trailed American Jobs Act, which Obama pledged "will cut payroll t
Read moreLondon pre-open: Stocks set to slide after Obama speech
9th Sep 2011 07:28
London seems less than overwhelmed by President Obama's latest plans to kick-start the US economy, with the FTSE 100 set to open around 50 points down from yesterday's close of 5,340. Describing the stalling of US economic growth as a "national crisis", Obama last night unveiled his much-trailed A
Read moreTullow Oil and Shell make 'encouraging' discovery
9th Sep 2011 07:24
A joint venture between Tullow Oil and Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana. The Guyana Maritime permit said it has encountered 72m of net oil pay in two turbidite fans, and the results of drilling and sampling show "good quality
Read moreLondon close: Late rally pulls FTSE 100 into blue
8th Sep 2011 16:32
It was a volatile day for the Footsie on Thursday, as a steady decline after the Bank of England (BoE) rate decision was met with a late afternoon comeback. The Footsie managed to pull above water by 16:30 to finish with a gain of 0.41%. The BoE announced at midday that it had kept interest rates u
Read moreLondon close: Oil stocks pull Footsie above 5,300
7th Sep 2011 16:26
Oil stocks were the star performers on a decent day for the Footsie, which clawed its way back above the 5,300 mark, helped by a better start on Wall Street. The oil companies were leading the rise on Wednesday, with Tullow Oil, Essar Energy and BP being helped by a rising oil price. Drilling in
Read moreSector movers: Oil and gas groups track crude prices higher
7th Sep 2011 15:51
BP, BG and Wood Group were among the best performers on the FTSE 100 on Wednesday afternoon, providing a boost to the oil and gas producing sector. Drilling in the previously untested northern segment of the Mad Dog field in the Gulf of Mexico has resulted in a "significant resource extension", acc
Read moreFTSE 100 Movers: Oil stocks lead the rise
7th Sep 2011 12:51
The oil companies were leading the rise on Wednesday afternoon, with Tullow Oil, Essar Energy and BP among the better performers on the blue chip index, helped by a rising oil price. BP rose after drilling results confirmed a significant resource extension of The Mad Dog Field complex in the Gulf o
Read moreBroker tips: Tullow Oil, IG Group, Hikma
26th Aug 2011 12:48
UBS says that Tullow Oil is in a comfortable financial position, and with catalysts "plentiful" in September, the broker keeps its buy rating on the Africa-focused oil giant. "With the expectation of receiving $2.9bn cash for the sale of its Ugandan assets, coupled with growing cashflows from Jubil
Read more