London close: Retailers lift Footsie higher
13th Apr 2011 16:08
While the Footsie came off its daily highs, it still managed to post a gain of close to 1% as strong results from ASOS boosted the retail sector higher. Meanwhile, stocks were recovering from the 89 point sell-off yesterday, its worst one-day fall since mid-March. Strong growth overseas helped the
Read moreLondon midday: FTSE 100 wins back losses
13th Apr 2011 12:03
The top share index has won back most of yesterday's losses, with a rally in the mining sector driving the gains. Fresnillo leads the large cap miners higher. The Mexican miner's silver production slipped slightly in the quarter to 31 March, but expanded capacity at its Soledad-Dipolos mine helped
Read moreLondon open: FTSE 100 advances as miners rally
13th Apr 2011 08:30
A rally in the mining sector has dragged the top share index to within touching distance of the 6,000 point mark it has been bobbing around since the start of the year. Fresnillo leads the large cap miners higher. The Mexican miner's silver production slipped slightly in the quarter to 31 March, bu
Read moreLondon pre-open: Footsie to make assault on 6,000
13th Apr 2011 07:46
After yesterday's shake out buyers are expected to be back in force this morning with the FTSE 100 index tipped to open around 30 points higher, leaving a handful of points short of the 6,000 level. Mining giant Rio Tinto said first quarter production in Australia was hit by the extreme weather in
Read moreTullow finds more gas in Ghana
13th Apr 2011 07:04
Oil and gas firm Tullow Oil has had more success off the coast of Ghana, with the Tweneboa-4 appraisal well in the Deepwater Tano licence encountering gas condensate. The well encountered 18 metres of net gas condensate pay in high quality stacked reservoir sandstones which are in static pressure c
Read moreBroker 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'
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