Broker tips: Tullow Oil, RBS, Premier Foods
1st Apr 2011 12:42
Citigroup has trimmed its price target on Tullow Oil to reflect the lower than expected price the oil group secured when it sold two-thirds of its Ugandan acreage to French oil group Total and China's CNOOC. It now has a 1,590p target price on the stock, down from 1,650 previously. It keeps its "ho
Read moreBroker snap: Citigroup trims Tullow price target
1st Apr 2011 12:19
Citigroup has trimmed its price target on Tullow Oil to reflect the lower than expected price the oil group secured when it sold two-thirds of its Ugandan acreage to French oil group Total and China's CNOOC. It now has a 1,590p target price on the stock, down from 1,650 previously. It keeps its "ho
Read moreLondon close: Retailers and banks pull London to dull finish
30th Mar 2011 17:38
Footsie came off its highs for the day, as retailers and banks did their best to drag the market lower. Nevertheless, the blue chip index finished 16 higher at 5,948. Invensys was sharply lower after RBC Capital Markets initiated coverage of the engineer with an "underperform" rating. That was the
Read moreLondon afternoon: Invensys bid fever fades
30th Mar 2011 14:39
Stocks came off the top over the lunch time session, though risers still comfortably outnumber fallers among Footsie constituents by at least two to one. Miners are setting the pace, particularly Vedanta, BHP Billiton, Rio Tinto and Antofagasta. At the other end of the scale Invensys is sharply lo
Read moreLondon pre-open: London to enjoy Wall Street boost
30th Mar 2011 07:33
A strong finish on Wall Street last night looks set to give London a boost with the blue-chip index expected to open around 36 points higher at 5,968. Oil company Tullow Oil has sold off two-thirds of the interests it holds in numerous assets in Uganda for a cash sum of $2.9bn, with CNOOC and Total
Read moreCNOOC and Total buy into Tullow's Ugandan assets
30th Mar 2011 07:16
Irish oil company Tullow Oil has sold off two-thirds of the interests it holds in numerous assets in Uganda for a cash sum of $2.9bn. Chinese oil titan CNOOC and French oil giant Total are each buying one-third stakes in exploration areas 1, 2 and 3A in Uganda from Tullow. The broadening of owners
Read moreLondon close: Flat day for FTSE 100
28th Mar 2011 17:03
A second attempt to spring into life evaporated ahead of the close on Monday and the top share index finished just a few points higher. Worries that Japanese carmakers may have to suspend production at their plants in China following the earthquake disruption have sent copper prices lower. As a res
Read moreLondon afternoon: Shares mark time
28th Mar 2011 14:57
Footsie finished the morning clinging on to positive territory and not much changed over the lunch time trading session, with a mildly firmer start on Wall Street providing little additional impetus. Worries that Japanese carmakers may have to suspend production at their plants in China following t
Read moreBroker snap: Ghanaian success at Tullow
28th Mar 2011 12:33
Evolution Securities says that Tullow Oil's recent success in Ghana bodes well for the Irish oil company, and could result in upside forecast changes to reserve estimates. Tullow reported Monday that it found oil at the Teak-2 exploration well in the West Cape Three Points licence offshore Ghana.
Read moreLondon open: Blue chips track sideways
28th Mar 2011 08:51
It's been a very quiet start with little company news and more concern over the state of the crippled Fukushima nuclear plant in Japan. Latest reports suggest extremely high radiation levels have been detected in some buildings near the plant's number two reactor. In Europe, concern over Portugal'
Read moreLondon pre-open: Flat start expected
28th Mar 2011 07:35
A revival of nuclear fall-out fears in Tokyo has put a cap on optimism at the start of the trading week in London and shares are expected to open mixed, with the FTSE 100 tipped to open aroun 5 points up from its previous close of 5,901. Tullow Oil has found oil at the Teak-2 exploration well in th
Read moreTullow discovers oil offshore Ghana
28th Mar 2011 07:04
Tullow Oil has found oil at the Teak-2 exploration well in the West Cape Three Points licence offshore Ghana. The Irish oil company, which has a 23% stake in the licence, discovered 27 metres of net hydrocarbon bearing Campanian and Turonian reservoirs at the well, drilled between the Jubilee field
Read moreLondon close: Market closes at low for the day
16th Mar 2011 17:07
An attempt at an early afternoon rally was short-lived and Footsie ended at its low for the day as investors continue to worry about the situation in Japan and sovereign debt in Europe after the downgrade of Portugal's debt by ratings agency Moody's. A sharp fall on Wall Street did not help sentime
Read moreLondon afternoon: Stocks pare losses
16th Mar 2011 14:06
Stocks pared losses over the lunch time session leaving the overall picture looking mixed, though the Footsie is slightly easier on balance, as investors continue to fret about the fall-out from the Japanese disaster, while sovereign debt concerns in Europe have been revived by the downgrade of Port
Read moreBroker tips: Shell, Lancashire, Tullow
16th Mar 2011 13:20
Oil giant Royal Dutch Shell (RDS) still looks like a safe place to be, until 2012 at least, according to Evolution Securities. The broker says that the group's programme of improvement in project management and business units' performance is far from over. "This lends credibility to the new targe
Read more