London 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 moreFTSE 100 movers: Financial dividend payers head decline
16th Mar 2011 13:11
Financials are heading the fallers in the Footsie today. The two biggest fallers in the FTSE 100 index have gone ex-dividend. HSBC has fallen by more than double its dividend of 7.66p a share. Standard Life has not declined quite as much as its final dividend payment of 8.65p a share. HSBC and S
Read moreLondon midday: Market remains in the red
16th Mar 2011 11:50
The decline in the FTSE 100 appears to have bottomed out although there are continuing worries over the post-earthquake situation in Japan. A fire at the plant's fourth reactor sent radiation levels soaring and forced what few workers are left battling the potential disaster to retreat. Japan's Emp
Read moreBroker snap: Tullow shares look cheap after Uganda deal
16th Mar 2011 11:46
With the political dispute in Uganda now settled, UBS believes a significant overhang on the Tullow Oil's shares has now been lifted and raises its target price for the stock. The oil exploration and production company announced yesterday that it had signed a memorandum of understanding (MoU) with
Read moreTullow comes to agreement with Ugandan government
15th Mar 2011 18:30
Tullow Oil has signed a Memorandum of Understanding (MoU) with the Government of Uganda that brings to an end the conflict over taxation. A new government was elected in Uganda around one month ago. The agreement will enable Tullow, CNOOC and Total to proceed with the development of their Ugandan
Read moreFTSE 100 movers: BP's ethanol buy
11th Mar 2011 12:49
BP is lower after it announced the $680m (£421m) acquisition of a Brazilian ethanol producer. BP has moved to improve its green credentials with the purchase of Companhia Nacional de Açúcar e Álcool (CNAA). The acquisition is the oil giant's biggest ever in the alternative energy sector. Insurer P
Read moreThursday tips round-up: Prudential, Tullow, Restaurant Group
10th Mar 2011 06:26
When Tidjane Thiam faced shareholders at Prudential's annual meeting last June, few would have wagered on him still being the company's chief executive nine months later, as resentment over the company's failed $35.5bn (£21.8bn) deal for AIA intensified. Mr Thiam seemed focused on the future yesterd
Read moreFTSE 100 movers: Ex-dividend declines fuel index fall
9th Mar 2011 15:26
Shares going ex-dividend dominate the fallers in the Footsie today. British American Tobacco is the biggest faller but the share price has declined by slightly less than the 81p a share final dividend. Standard Chartered has fallen by more than its 29.8p a share dividend. Miner BHP Billiton has
Read moreLondon afternoon: Downward drift continues
9th Mar 2011 14:16
Blue-chip shares drifted lower still over the lunchtime session though a number of bright spots can be found, particularly among second liners. Insurer Prudential is in demand after saying it made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the UK company's bigges
Read moreLondon midday: FTSE 100 seeking direction
9th Mar 2011 12:02
Shares are moving in both directions after updates, but the FTSE 100 sits a few points lower. Insurer Prudential is in demand after saying it made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the UK company's biggest earner. Group operating profit before tax on a Eu
Read moreLondon open: Early falls despite Pru show of strength
9th Mar 2011 08:43
London has slipped lower in early dealings, despite good numbers from Prudential and a strong performance on Wall Street overnight as oil prices fell back. Insurer Prudential made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the UK company's biggest earner. Group o
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