London pre-open: Waiting on the Pru
9th Mar 2011 07:38
The blue-chip index is expected to open barely changed, though things may change when insurance giant Prudential releases results later this morning. Africa-focused oil company Tullow Oil ramped up profits in 2010, broadly in line with City expectations, as oil prices jumped by almost a third. Prof
Read moreTullow profits swell on higher oil price
9th Mar 2011 07:09
Africa-focused oil company Tullow Oil ramped up profits in 2010, broadly in line with City expectations, as oil prices jumped by almost a third. Profit before tax soared to $152m from $33m in 2009 and rose 137% to $73m after taxes. Sales revenue was 19% better at $1.09bn. Production fell 200,000 b
Read moreLondon close: Shares soar on Libya deal hopes
3rd Mar 2011 16:39
Reports that the Libyan situation might be resolved through mediation rather than violence sent UK shares sharply higher. The Arab League is said to be considering a proposal to end the fighting in Libya sending oil prices higher. Heavy oil users such as airline International Consolidated Airlines
Read moreLondon afternoon: Footsie cruises towards 6,000
3rd Mar 2011 14:13
Footsie has 6,000 within its sights once more as stocks bounce back strongly on hopes that the Libyan situation might be resolved. Reports that the Arab League is considering a proposal to end the fighting in Libya have boosted sentiment, and has sent the price of oil into reverse. Heavy oil users
Read moreFTSE 100 movers: Amec remains confident
3rd Mar 2011 13:02
Footsie is dominated by risers today with two engineering companies the biggest gainers. Amec is the best performer after it said that it can expect to grow regardless of the pace of economic recovery. Pre-tax profits in 2010 soared to £258.2m from £203.5m the previous year as revenues grew to £2.
Read moreLondon midday: FTSE 100 approaches 6,000
3rd Mar 2011 12:03
A combination of pleasing company updates and optimism that the Libyan situation will be resolved has sent shares sharply higher. Reports that the Arab League is considering a proposal to end the fighting in Libya have boosted sentiment, but talk that Venezuelan President Hugo Chavez is also to try
Read moreLondon open: Strong start as updates impress
3rd Mar 2011 08:40
Shares are broadly higher after a good reception for most updates, while BSkyB moves ahead after the government gave News Corporation's acquisition of the satellite broadcaster the green light. The government has agreed to let Rupert Murdoch's NewsCorp, the publisher of the Times and Sun, buy satel
Read moreLondon pre-open: Footsie heading higher
3rd Mar 2011 07:43
Blue chips are expected to get off to a pretty good start Thursday as oil prices ease back and Asian stocks post gains this morning. US light crude for April delivery is currently trading down $1.02 at $101.21 a barrel. Rebels seem to be having some success fighting off Colonel Gaddafi's forces in
Read moreTullow hails excellent result off coast of Ghana
3rd Mar 2011 07:16
Oil and gas firm Tullow Oil hailed an "exceptional result" on its drilling of the Enyenra-2A appraisal well, in the Deepwater Tano licence offshore Ghana. Drilling successfully encountered oil in excellent quality sandstone reservoirs, with solid evidence of communication with the Owo-1 well, which
Read moreLondon close: Blue chips rally near close
24th Feb 2011 16:40
Shares rallied near the close despite the ongoing turmoil in Libya as Saudi Arabia indicated it would boost production to meet any shortfall caused by the unrest. Libya only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Algeri
Read moreFTSE 100 movers: Bumper profit from Capita
24th Feb 2011 15:27
Outsourced services provider Capita is the best performer after its figures. Capita lifted revenues and profits in 2010 despite the coalition government's cost-cutting drive. Pre-tax profits climbed to £364.2m from £325.1m on revenues that rose to £2.74bn from £2.69bn. Serco has risen on the back
Read moreSector movers: Surging prices lift oil stocks
24th Feb 2011 14:56
Oil groups are higher Thursday afternoon on the back of surging oil prices amid the ongoing turmoil in Libya. Brent crude jumped to $119.79 a barrel on the London-based ICE Futures Europe exchange, up by nearly 18% since the unrest began. The April contract for US light crude rose to $103.41 a barr
Read moreLondon close: FTSE 100 shrugs off mining weakness
16th Feb 2011 16:47
The top share index retained its strength to close with good gains, in spite of weakness in the mining sector. Rocketing commodity prices meant record profits for BHP Billiton in the first half, bankrolling a huge investment programme and share buyback scheme, but the shares still fell. Profit a
Read moreLondon afternoon: Stocks consolidate gains
16th Feb 2011 14:20
Footsie finished the lunchtime session barely changed from where it started it after an attempt to extend gains fizzled out. Rocketing commodity prices meant record profits for BHP Billiton in the first half, bankrolling a huge investment programme and share buyback scheme. Still, the shares are
Read moreFTSE 100 movers: BHP falls after bumper figures
16th Feb 2011 12:52
Rocketing commodity prices meant record interim profits for BHP Billiton plus a huge investment programme and share buyback scheme but the share price still fell. Profit attributable to shareholders jumped 72% to US$10.5bn (£6.5bn) on revenue up 39% to $34.2bn. The group announced an ambitious inv
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