FTSE 100 movers: Pension decision boosts BT
21st Oct 2010 14:42
BT is higher after the courts ruled that the UK government has to guarantee all BT employees in the BT pension scheme not just the ones that joined prior to privatisation in 1984. The government argued that the Crown Guarantee only covered members of the pension scheme before BT was privatised and
Read moreLondon midday: BT jumps after court ruling
21st Oct 2010 12:10
There are some big movements in both directions today, but the mood is optimistic overall and Footsie has been trading at its highest level in nearly six months. TUI Travel, owner of the Thomson travel agent brand, is sharply lower as it restated results for 2008/09 and took an extra £88m charge li
Read moreLondon open: Shares fall back
21st Oct 2010 08:24
A couple of company news items have been given a frosty reception, helping tip the leading share index into the red. TUI Travel, owner of the Thomson travel agent brand, is lower after saying it had to restate results for the 2008/09 and take an extra £88m charge linked to the integration of IT sy
Read moreTullow fails at Onyina-1
21st Oct 2010 08:23
Tullow Oil's Onyina-1 exploration well in the deepwater Tano licence offshore Ghana has come to nothing after it came across water bearing reservoirs. Onyina-1 well was drilled to explore a large, high-risk, Campanian prospect between the Tweneboa and Jubilee fields. But Tullow, which has a 49.95
Read moreLondon close: Footsie rallies but finishes lower
12th Oct 2010 16:46
London battled hard to undo early losses, but fell just short, closing a few points in the red, amid a backdrop of lower commodity prices and sobering trading updates. Miners were under the cosh. Xstrata was among the heavy fallers in the mining sector. It said today it is starting work again at
Read moreLondon afternoon: Resource stocks a drag
12th Oct 2010 14:09
Equity prices continued to recover over the lunch time session though the blue-chip index remains in the red, largely thanks to the weakness of resource stocks. Xstrata, Lonmin, and Antofagasta are the worst hit of the miners, though the whole sector is lower. Metals prices have fallen back as the
Read moreLondon midday: Bid rumours lift Standard Chartered
12th Oct 2010 12:13
The second half of the morning session was better than the first for Footsie, with leading stocks trimming early losses, but the blue-chip index remains in the red, largely thanks to the weakness of resource stocks. Xstrata, Lonmin, and Antofagasta are the worst hit of the miners, though the whole
Read moreLondon open: Footsie on back foot
12th Oct 2010 08:53
London has started on the back foot with miners and oil companies under heavy selling pressure. Xstrata, ENRC, and Antofagasta are the worst hit of the miners, though the whole sector is lower. Oil groups are also suffering. Tullow and BG are the worst hit of the FTSE 100 groups, but Soco is the r
Read moreFTSE 100 movers: Tullow continues rise
14th Sep 2010 14:55
Oil-related companies dominate the best performers. Essar Energy and Tullow Oil are higher in spite of the fact that the oil price has dipped today. Yesterday, Tullow revealed that it had discovered a major new oil field at its Owo prospect in Ghana. Cable & Wireless Worldwide has won an £82m gl
Read moreLondon close: Strong run continues
13th Sep 2010 16:42
Shares continued rising Monday as they reacted positively to new banking regulations and Chinese economic data. London is up for the fourth session in a row and trading higher for the eleventh day out of twelve, up at a new four-month high. Stocks haven't been this high since 30 April. Banks were
Read moreLondon afternoon: Buyers buzzing
13th Sep 2010 15:27
The leading index is near its best levels of the day following a strong start on Wall Street, fuelled by new Basel III bank rules and impressive Chinese factory output. London is up for the fourth session in a row and trading higher for the eleventh day out of twelve, up at a new four-month high. S
Read moreLondon midday:Miners and banks lift index
13th Sep 2010 12:20
London's strong start to the day has continued with banks, miners and the odd sprinkling of bid talk giving buyers lots to bite on. Banks are among the top risers after a less stringent than feared Basle III decision by the European banking body. Royal Bank of Scotland and Lloyds are both in demand
Read moreLondon open: Banks spur strong start
13th Sep 2010 08:38
Blue chips have moved higher first thing, extending last week's three-day winning streak to a fourth session following Basle III and bullish data out of China. Markets in the Far East surged following news that Chinese industrial production jumped a better than expected 13.9% year on year in August
Read moreLondon pre-open: Banks and China to keep rally going
13th Sep 2010 07:26
Blue chips are expected to push on higher first thing, extending last week's three-day winning streak to a fourth session following Basle III and bullish data out of China. Markets in the Far East have surged following news that Chinese industrial production jumped a better than expected 13.9% year
Read moreTullow sidetrack extends 'major' Owo field
13th Sep 2010 07:03
Tullow Oil's Owo field just got bigger, "significantly" extended by a sidetrack at the Irish explorer's previously announced Owo-1 discovery, offshore Ghana. Results of drilling, wireline logs and samples of reservoir fluids at the well in the Deepwater Tano licence confirm that Owo is a "major" ne
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