Broker snap: Tullow in comfortable position, says UBS
26th Aug 2011 12:29
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 moreLondon close: Results drive stocks higher, Man up after upgrade
24th Aug 2011 16:38
Stocks finished with good gains after an uncertain start, with strong economic data from the US overriding the earlier mixed reception to today's raft of company updates. US orders for goods made to last more than three years, such as planes, cars and washing machines, rose by 4% in July, having fa
Read moreFTSE 100 movers: Admiral on the rocks
24th Aug 2011 14:37
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 pe
Read moreLondon midday: Stocks mixed after stream of updates
24th Aug 2011 12:10
The leading share index is flitting between red and blue amid differing receptions for today's stream of updates. Investors in Admiral are feeling mutinous despite pre-tax profits growing by 27%. However, according to a Thomson Reuters poll, the result was a slight miss. Miner BHP Billiton is hig
Read moreLondon open: Admiral drags Footsie into the red
24th Aug 2011 08:29
Early gains proved short-lived as the blue chip index in London fell into the red by 08.32, dragged lower by Admiral and the miners, who were registering losses on the back of falling metals prices. Admiral was the worst performer on the FTSE 100, losing over 5% after despite pre-tax profits growi
Read moreTullow 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
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