Tullow Oil's figures soar, but production forecasts cut
24th Aug 2011 07:43
Africa-focused oil giant Tullow Oil reported a huge surge in sales and profits in the six months ended 30 June, helped by increased production from the Jubilee field off Ghana and higher commodity prices. The strong results enabled the firm to double its interim dividend from 2p per share to 4p per
Read moreWednesday preview: Tullow Oil, Admiral, Serco
23rd Aug 2011 17:32
Broker finnCap thinks there is a good chance that Tullow Oil will cut its full-year guidance, after its partner on the Jubilee field, Kosmos Energy, reported a slower than expected ramp-up of production at the field, located off the coast of Ghana. "Current guidance is 90-94mboepd [million barrels
Read moreLondon close: Autonomy movement helps limit losses
19th Aug 2011 16:38
Stocks finished in the red heading into the weekend but off their daily lows, having bounced back into the blue from heavy losses earlier on. Today's standout stock was Autonomy rocketed by over 75% in early trading after US computing giant Hewlett-Packard made a recommended offer for the Cambridge
Read moreLondon midday: Lloyds and RBS fall again as FTSE 100 slides
19th Aug 2011 12:03
The leading share index is stuck below the 5,000 point mark amid continuing worries over the global economic situation. Banks Lloyds and RBS are suffering hefty losses again as is IAG, the owner of British Airways. But shares in Autonomy rocketed by over 75% in early trading after US computing gi
Read moreWeek Ahead: Lower output guidance expected from Tullow
19th Aug 2011 11:41
After a brief lull, the flow of company results is starting to increase again, with big names such as Admiral, Diageo, Petrofac, G4S, Antofagasta, Cairn, Wood Group, Serco, Tullow, WPP, BHP Billiton and Kazakhmys all set to report. Broker finnCap thinks there is a good chance that Tullow Oil will c
Read moreLondon open: Autonomy bucks trend as Footsie tumbles
19th Aug 2011 08:27
The Footsie tumbled over 1% in the opening minutes on Friday, despite a surge by software giant Autonomy. However, Autonomy was just one of the four lone stocks making gains, as the blue chip index looks set to fall below the 5,000 mark. Shares in Autonomy rocketed by over 75% in early trading afte
Read moreLondon open: Oil stocks drag Footsie into the red
12th Aug 2011 08:39
Shares picked up after a steep decline in the opening minutes, but the FTSE 100 was still trading 0.7% down by 08.39am, as London looks set to experience another day of volatile trade. Oil-related stocks were on the fall in early trade as the price of Brent Crude fell 0.85% to $107.10 per barrel a
Read moreLondon close: Flat finish after busy day
15th Jul 2011 16:57
The top share index finished flat but it was an unusually busy day on the corporate news front with big movements in both directions. BHP Billiton fell after the company, best known as a miner, said it is increasing its oil and gas activities with the $12.1bn (£7.5bn) purchase of Texas and Louisian
Read moreLondon midday: Stocks move both ways after updates
15th Jul 2011 12:04
Stocks are moving in both directions on a surprisingly busy company news day for a Friday. The FTSE 100 is flat. BHP Billiton falls after the company, best known as a miner, said it is increasing its oil and gas activities with the $12.1bn (£7.5bn) purchase of Texas and Louisiana-focused firm Petro
Read moreLondon open: More losses as Europe worries continue
15th Jul 2011 08:46
Stocks have fallen back in early dealings with nerves on edge over Europe again, this time as traders await banking stress test results. In stocks news, BHP Billiton is the heaviest faller in the FTSE 100. The company, best known as a miner, is increasing its oil and gas activities with the $12.1bn
Read moreLondon pre-open: Bears still holding sway
15th Jul 2011 07:35
Stocks look set to pick up where they left off yesterday, with City traders anticipating the Footsie will open some 25 points lower. Credit checking firm Experian saw organic revenue growth of 6% in the second quarter of 2011, and continues to anticipate organic revenue growth in the mid-high singl
Read moreTullow draws a blank in Ghana
15th Jul 2011 07:14
You can't win them all, as Tullow Oil has discovered with the Makore-1 exploration well on the West Cape Three Points Block, off the Republic of Ghana. Kosmos Energy, the operator of the Makore-1 well, found lots of water but precious little oil in its test drilling. Tullow has a 22.9% stake in the
Read moreLondon close: Stocks edge higher
5th Jul 2011 16:34
The top share index managed to inch further beyond the 6,000 point mark it has crossed so many times this year, though it was a sluggish day's trading. In company news, Tullow Oil gushed ahead after it enjoyed record revenues in the first half of the year while achieving a 79% exploration and appr
Read moreFTSE 100 movers: Tullow unfazed by production shortfall
5th Jul 2011 16:12
The share price reaction to the trading update from oil firm Tullow has been favourable, even though most brokers agree that first half production levels were a bit below expectations, due to a slower than anticipated ramp-up in production at the Jubilee field in Ghana. Production levels may have b
Read moreBroker tips: Tullow Oil, Capital Shopping, Persimmon
5th Jul 2011 13:54
The first half update from oil firm Tullow was slightly negative, in finnCap's view, and the broker continues to see better options elsewhere in the sector. Production and revenues were both lower than expected, finnCap asserts, while underlying production guidance for the full year was cut, althou
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