Tullow Oil To Face Tax On Lake Albert Stake Sale -Uganda Govt
8th Jul 2010 12:48
By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--The Ugandan government plans to levy a capital gains tax on Tullow Oil PLC (TLW.LN) when the U.K.-listed company sells part of three oil blocks to its project partners, the head of Uganda's Petroleum Exploration
Read moreLondon close: Back above 5,000
7th Jul 2010 16:21
Britain's banks staged an impressive turnaround Wednesday that helped carry London out of the red and onto a second day of very respectable gains. High street lenders were unsettled early on as investors waited for details on the nature of European stress tests for about 100 banks. Last-minute hagg
Read moreLondon afternoon: Banks help retrace losses
7th Jul 2010 14:26
London's leading shares have retraced most of the earlier losses as Wall Street starts with some modest gains. Wall Street was expected to begin jittery but moved ahead with tech stocks leading the advance. Banks, which were lower earlier in the day, have now retraced those losses. Lloyds and HSB
Read moreLondon midday: Market struggles despite BP rally
7th Jul 2010 12:07
A cautious update from Marks & Spencer and weak banking shares are weighing on the market despite good showings from BP and Sainsbury's. M&S reported a 3.6% rise in UK like-for-like sales in the first quarter, but is cautious about the outlook for consumer confidence and spending. Like for like sal
Read moreMARKET TALK: E&P Oil Stocks To Have Bumper 2H - UBS >TLW.LN
7th Jul 2010 11:22
1022 GMT [Dow Jones] 2H'10 is likely to be a bumper six months for the E&P sector, given the relative dearth in 1H, says UBS. All European E&Ps in its coverage universe are drilling important prospects in 2H, UBS notes. It says M&A is showing signs of returning with vigour, noting Afren's (AFR.LN) a
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
7th Jul 2010 11:22
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1022 GMT [Dow Jones] 2H'10 is likely to be a bumper six months for the E&P sector, given the relative dearth in 1H, says UBS.
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS -2-
7th Jul 2010 11:22
0826 GMT [Dow Jones] Panmure Gordon raises Carillion (CLLN.LN) price target to 350p from 300p following the company's 1H update. Says trading is in line with expectations, but the group continues to make good progress in Support Services amid diversification away from its traditional UK constructio
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
7th Jul 2010 11:22
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1022 GMT [Dow Jones] 2H'10 is likely to be a bumper six months for the E&P sector, given the relative dearth in 1H, says UBS.
Read moreCORRECT:Tullow: Uganda OKs $1.5B Heritage Deal;Tullow Farmdown
7th Jul 2010 09:28
("Tullow: Uganda Govt OKs $1.5B Heritage Deal; Tullow Farmdown," at 0800 GMT, misstated the amount of the deposit in the fourth paragraph. The correct version follows:) LONDON (Dow Jones)--Independent oil and gas exploration and production company Tullow Oil PLC (TLW.LN) said Wednesday the Uga
Read moreReliance Industries Invites Contracts To Develop Oil, Gas Blocks
7th Jul 2010 08:47
MUMBAI (Dow Jones)--Reliance Industries Ltd. (500325.BY) said in a tender document on its website that it is inviting companies to develop and carry out production work at its coal bed methane and onshore exploration blocks. Reliance Industries controls CBM blocks located in the states of Madhya
Read moreLondon open: Blue chips head lower
7th Jul 2010 08:45
London's blue chips have retreated after the surge yesterday with a cautious update from Marks & Spencer dampening the mood. The High Street bellwether reported a 3.6% rise in UK like-for-like sales in the first quarter but is cautious about the outlook for consumer confidence and spending. Like fo
Read moreLondon pre-open: Shares to retreat
7th Jul 2010 07:39
London's blue chips look set to drop once again as investors mull a mixed bag of company results. City experts expects Footsie to give up 45 points after finishing just three points shy of its high point yesterday. High Street bellwether stock Marks and Spencer reported a 3.6% rise in UK like for l
Read moreHeritage Oil Advised That Asset Disposal Not Taxable In Uganda
7th Jul 2010 07:18
LONDON (Dow Jones)--Heritage Oil PLC (HOIL.LN), an independent upstream exploration and production company, said Wednesday the Government of the Republic of Uganda has provided conditional consent for the disposal of its assets in Uganda, and has received advice that the disposal of the assets is no
Read moreTullow gets approval for Heritage buy
7th Jul 2010 07:11
Tullow Oil can proceed with the $1.5bn acquisition of a 50% stake in two big oil fields in Uganda from Heritage Oil after the government gave approval after months of wrangling. Tullow exercised its first refusal rights over blocks 1 and 3A in the Albert Basin in Uganda after Heritage agreed to sel
Read moreLondon close: Footsie ends on a high
6th Jul 2010 17:01
The FTSE 100 finished just three points shy of its high point for the day as miners, particularly copper miners, drove the market higher. Copper producers Antofagasta and Kazakhmys were the two best performers as the price of copper rose the most in a week on the back of declining stockpiles. Mini
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