Tullow to list in Ghana
31st May 2011 08:40
Irish oil giant Tullow Oil is to seek a secondary listing of its shares on the Ghana Stock Exchange. The listing will coincide with the offer of 4m Tullow shares in Ghana. The price of the offering will be announced on Monday, 13 June. "Tullow is fortunate to have played a pivotal role in deliver
Read moreFTSE 100 movers: Glencore falls lower on debut
25th May 2011 15:26
The new kid on the block is new-floated commodity trading house Glencore, which has fallen lower on its debut on the FTSE 100. The Telegraph today labelled the group with its 'avoid' rating "as there are likely to be better opportunities elsewhere that carry less risk." Oil groups Essar Energy and
Read moreTullow increases presence in North Sea
24th May 2011 08:14
Irish oil firm Tullow is to go Dutch, with its acquisition of Nuon Exploration and Production for €300m cash from the Vattenfall Group. The acquisition of Nuon will significantly beef up Tullow's North Sea presence, adding a portfolio of 25 licences that include over 30 producing fields, numerous d
Read moreSlight delays to Tullow's Zaedyus well
12th May 2011 19:39
Oil firm Tullow Oil said it has suffered delays to its drilling of the Zaedyus well, the first of several Jubilee-type prospects identified on 3D seismic data, off the coast of French Guiana. The company now expects results of the drilling will be available in early August. In its interim manageme
Read moreLondon close: Late rally falls short
12th May 2011 16:58
Shares clawed back some of their losses ahead of the close but still finished firmly in the red as miners sank in line with commodity prices. Metals prices were on the decline amid monetary tightening in China, hurting mining stocks such as Fresnillo, Vedanta Resrouces and Kazakhmys. Lower oil pric
Read moreLondon midday: Losses widen amid commodity slide
12th May 2011 12:05
The FTSE 100's losses have grown with miners on the back foot amid worries over global growth. Silver specialist Fresnillo leads the mining sector lower in the FTSE 100. Worries that China may further tighten monetary policy are hurting commodity prices. Lower oil prices were evident on the markets
Read moreLondon open: FTSE 100 on the slide again
12th May 2011 08:26
Shares are firmly in the red again today, with miners on the slide in line with commodity markets and one or two trading updates setting traders' nerves on edge. Silver specialist Fresnillo leads the mining sector lower in the FTSE 100. Worries that China may further tighten monetary policy are hurt
Read moreLondon pre-open: Miners to drag Footsie down
12th May 2011 07:48
With commodity prices in full retreat, the strong weighting of oils and miners in the Footsie index means the top share index is set to open sharply lower. City traders expect the blue-chip index to kick off more than 50 points lower. RSA Insurance hailed a strong start to the year with net writt
Read moreFTSE 100 movers: Antofagasta tumbles after disappointing production figures
4th May 2011 13:51
Miner Antofagasta is leading the decline on Wednesday after reporting production figures that missed expectations. Group copper production for the first three months of the year came in at 129,800 tonnes, below forecasts of 158,800 tonnes, reflecting delays and lower-than-budgeted grades at two of i
Read moreLondon close: S&P scares off investors
18th Apr 2011 17:02
Having started the day with hopes of rising back above 6,000, the top share index hurtled in the opposite direction to fall below 5,900 after debt ratings firm Standard & Poor's (S&P) put the cat among the pigeons by downgrading the outlook for US sovereign debt. Though S&P affirmed the USA´s 'AAA'
Read moreFTSE 100 movers: Resolution unwanted after downgrade
18th Apr 2011 13:43
Insurance giant Resolution is the worst performer on the FTSE 100, after being downgraded from 'buy' to 'neutral' by UBS. The broker cuts its rating given the weak operational performance, mixed valuation picture and strong recent share price performance. The share price is left at 300p. Also lowe
Read moreLondon midday: Desire subsides after well wash-out
18th Apr 2011 12:18
Bright spots are hard to find on the first trading days of the shortened week, and far from bursting through the 6,000 barrier Footsie heads at pace in the opposite direction. Insurer Resolution leads the blue-chip index lower after UBS downgraded the stock from "buy" to "neutral". Bid hopes for
Read moreLondon open: S&N unnerved by rivals' bid talks
18th Apr 2011 09:06
Expectations of a flat start proved wide of the mark as financial stocks lead the market lower. Banks such as Barclays, Lloyds and Royal Bank of Scotland are off the pace, as are insurers such as Resolution, Standard Life, Aviva and Old Mutual. Medical devices maker Smith & Nephew is the worst pe
Read moreHeritage and Tullow in Ugandan tax bust-up
18th Apr 2011 08:03
Upstream exploration and production company Heritage Oil has been slapped with a $313.45m lawsuit by Tullow Oil related to the sale of Heritage's 50% interest in Blocks 1 and 3A in Uganda. The bone of contention is Heritage's refusal to reimburse Tullow in relation to a recent payment made by Tullo
Read moreLondon open: Resource stocks wanted
15th Apr 2011 08:37
The Footsie is sidling back up towards the 6,000 level, with resource stocks leading the way after China's economy grew faster than expected in the first quarter. ENRC, Antofagasta and Lonmin are the picks of the mining sector while among oils Cairn and Tullow are the stocks to have. Betting shops
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