FTSE 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
Read moreTullow 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'
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