London afternoon: Miners drive Footsie higher
9th Jun 2010 14:45
Mining stocks are dragging the market higher as metal prices bounce on reports of an exports surge in China. A news agency is reporting that China's exports in May were 50% higher than a year earlier. That news has boosted demand for the likes of Fresnillo, Kazakhmys, Xstrata and Vedanta. While si
Read moreSector movers: Software updates cheer investors
9th Jun 2010 13:56
Well-received updates from software stocks have sent the sector higher. Financial software provider Misys is to return more than $1bn to shareholders after selling the majority of its stake in its Allscripts subsidiary. The news sent the company's shares up by 20%. Meanwhile, the recent surge in t
Read moreLondon midday: Oil stocks slow Footsie
9th Jun 2010 12:04
The blue-chip index has limped back into the blue despite the weakness of oil stocks. Around three quarters of the market-value weighted index's constituents are higher but with heavy hitters BP, Shell and BG in the red the Footsie is struggling to make headway. BP investors are concerned by the ve
Read moreLondon open: Early gains for blue chips
9th Jun 2010 08:50
London's blue chips have opened firmer after yesterday's rebound by Wall Street. Royal Bank of Scotland is going well on a report in the FT that the state-owned bank has drawn up a shortlist for two key businesses that are expected to fetch about £4bn. BP, though, is lower with investors still con
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
9th Jun 2010 08:14
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0714 GMT [Dow Jones] Tullow Oil's (TLW.LN) Mahogany-5 appraisal well on Ghana's Jubilee oil field has come in as expected,
Read moreMARKET TALK: Tullow's Ghana Well Result As Expected - Panmure
9th Jun 2010 08:14
0714 GMT [Dow Jones] Tullow Oil's (TLW.LN) Mahogany-5 appraisal well on Ghana's Jubilee oil field has come in as expected, says Panmure Gordon analyst Peter Hitchens. "Given that this did not exceed expectations, we believe that the P50 reserve estimate is unchanged but believe that the range betwee
Read moreLondon pre-open: Stocks set to rise
9th Jun 2010 08:04
London's blue chips are expected to open firmer after yesterday's rebound by Wall Street. Financial software provider Misys is to return more than $1bn to shareholders after selling the majority of its stake in its Allscripts subsidiary. The sale of shares by Misys will enable Allscripts to procee
Read moreTullow Oil:Mahogany-5 Successfully Appraises Southeast Jubilee
9th Jun 2010 07:07
LONDON (Dow Jones)--Tullow Oil PLC (TLW.LN), an oil and gas company, said Wednesday the Mahogany-5 appraisal well has continued the successful appraisal of the area immediately to the southeast of the Jubilee Field offshore Ghana. MAIN FACTS: -The results of drilling, wireline logs and reser
Read moreTullow finds more oil offshore Ghana
9th Jun 2010 07:05
Tullow Oil has found oil at its Mahogany-5 appraisal well immediately to the southeast of the Jubilee field offshore Ghana, making it four out of five strikes in the region. The well, drilled down to 3,988 metres in water nearly three quarters of a mile deep, penetrated a total net oil pay of 23 me
Read moreUPDATE:Uganda Kingdom Wants Oil Law To Define Revenue Sharing
8th Jun 2010 12:47
(Adds quotes from government minister.) By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--Uganda's Bunyoro kingdom wants the government to revise the proposed oil bill, slated to be tabled in parliament this month, to ensure that it defines clearly the terms
Read moreUganda Bunyoro Kingdom Wants New Oil Law To Define Revenue-Split
8th Jun 2010 11:37
By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--Uganda's Bunyoro kingdom wants the government to revise the proposed oil bill, slated to be tabled in parliament later this month, to ensure that it defines clearly the terms of oil revenue-sharing, a kingdom spoke
Read moreFTSE 100 movers: BP continues to suffer
24th May 2010 15:02
BP's woes in the Gulf of Mexico are dragging down its peers and the Footsie. The oil disaster in the Gulf of Mexico has cost BP about $760m (£525m) so far and the under-fire oil giant faces being "pushed out of the way" if its clean-up operation doesn't do better. A week ago, the cost was estimate
Read moreLondon afternoon: Back to square one
24th May 2010 13:42
Footsie has limped back into positive territory, helped by an about turn by the mining stocks. After spending the morning down in the dumps Rio Tinto is now the best performing mining stock as metal prices head northwards. Fellow mining stocks Xstrata and Anglo American join Rio on the rise but S
Read moreLondon midday: Resource stocks under the weather
24th May 2010 12:35
Resource stocks have driven the Footsie into the red after a bright start. The oil disaster in the Gulf of Mexico has cost BP about $760m (£525m) so far and the under-fire oil giant faces being "pushed out of the way" if its clean-up operation doesn't do better. So far 23,000 claims have been fi
Read moreLondon close: Shares limp higher
24th May 2010 10:50
On an largely directionless day for Footsie, the leading share index was just a few points higher at trading's close. Shares in BP were under pressure again. The oil giant followed what has become a daily update on the oil leak situation in the Gulf of Mexico with an announcement that it will pay
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