London 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
Read moreBroker snap: Better options in sector than Tullow
5th Jul 2011 13:51
The first half update from oil firm Tullow Oil 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, al
Read moreLondon midday: Stocks stay above 6,000
5th Jul 2011 12:21
Stocks have crept further beyond the 6,000 point mark as the post-Greek pro-austerity measures vote rally continues. In company news, most interest is to be found in the mid-cap index. N Brown, the FTSE-250 online and catalogue retail firm is wanted after total group revenue increased 5.1% in the 1
Read moreLondon open: Calm continues after rally
5th Jul 2011 08:27
London's leading share index remains becalmed having rallied strongly last week following the Greek parliament's vote in favour of austerity measures. In company news, most interest is to be found in the mid-cap index. N Brown, the FTSE-250 online and catalogue retail firm is wanted after total gro
Read moreLondon pre-open: Stocks set to drift back
5th Jul 2011 07:36
London's blue-chips are set to open modestly lower, with the Footsie predicted to open around 10 points lower, which would, at least, mean it remains above the 6,000 level, having closed at 6,108 last night. Tullow Oil enjoyed record revenues in the first half of the year while achieving a 79% expl
Read moreRecord interim revenues for Tullow
5th Jul 2011 07:04
Tullow Oil enjoyed record revenues in the first half of the year while achieving a 79% exploration and appraisal success rate. "The performance of our business since the beginning of 2011 has been excellent and we expect to deliver record financial results for the first half of the year," said the
Read moreFTSE 100 movers: ENRC, Glencore higher amid speculation
13th Jun 2011 14:16
Eurasian Natural Resources Corp (ENRC) has advanced on speculation that commodities trading house Glencore is drawing up a bid. The Sunday Times said that Glencore's Chief Executive Ivan Glasenberg has held talks in recent weeks with ENRC's three founders and key shareholders Alexander Mashkevitch,
Read moreTullow prices Ghanaian shares at small discount
13th Jun 2011 10:02
Oil and gas firm Tullow Oil said its shares will be floated on the Ghana stock exchange at 31 Ghana cedi per share, a 2.57% discount to the closing price of the UK shares on the last trading day prior to the announcement of the flotation price. Tullow is offering 4m shares to Ghanaian investors. Th
Read moreFTSE 100 movers: Glencore rises, Lloyds drops
6th Jun 2011 15:24
Glencore, the newly-listed commodity trading house, is the top riser, helped by Deutsche Bank issuing a 'buy' recommendation on the stock. Meanwhile, Lloyds Banking Group is heading the other way, trading at its levels not seen since last February, on the back of reports over the weekend that chief
Read moreTullow Oil discovers oil in Ghana
6th Jun 2011 07:25
Oil giant Tullow Oil reported an "encouraging first step" in drilling on Monday after its Banda-1 exploration well offshore Ghana discovered oil, albeit at a poor quality. The well, located in the West Cape Three Points licence (in which Tullow holds a 22.9% interest), has encountered Ceonmanian tu
Read moreFTSE 100 movers: Outsourcers improve on gains
31st May 2011 14:44
Serco, the outsourcing company whose activities include running prisons and London's Docklands Light Railway, has announced the acquisition of India-based service provider Intelenet for up to £385m, boosting shares higher on Tuesday. Prime Markets thinks that the purchase will "safely propel" Serco
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