- New £1.4 billion entity will be a leading African oil producer - Tullow shareholders own 57% and Capricorn 43% in new group - Plan to pay annual dividend of $60 million Shares in oil explorer Tullow Oil and (TLW) and Capricorn Energy (CNE) rose 2.3% and 3.1% respectively following the announcement of an agreement for a recommended all-share merger. If agreed the new London listed ...

Leading UK shares have shrugged-off concerns currently upsetting Wall Street as expectations grow that the Federal Reserve will act more swiftly than previously predicted to try and tame rampant inflation. At the same time, tensions between Ukraine and Russia continue to grow, adding another volatile factor into the mix. At 9am, the benchmark FTSE 100 is close on 1.5% ahead at 7,479.13, not far ...

UK stocks made little headway on Wednesday despite a spate of earnings reports which on the whole painted a picture of improving corporate health. By 9.30am the FTSE 100 index of leading stocks was unchanged at 7,033 points. In Asia, Chinese stocks closed lower after August retail sales data disappointed, sending the CSI index down for a fifth day in succession. In Japan on the other hand, the ...

UK stocks fell in early trading on Wednesday after higher inflation data, both at home and in the US, stoked concerns about rising interest rates. At 8.35 am, the benchmark FTSE 100 index and the more domestically focused FTSE 250 were both trading 0.5% lower, at 7,086.31 and 22,818.8 points respectively. The UK consumer price index rose 2.5% in June, ahead of expectations of a ...

London’s FTSE 100 finished Wednesday’s trading session 0.4% higher at 7,108 points as inflation worries eased and the blue chip benchmark was boosted by a decent start on Wall Street, with the S&P 500 up 0.3% to 4,216.2 by 4.30pm UK time. As in the US, the absence of earnings from big-name companies left the FTSE 100 lacking a bit of inspiration, with the index outshone by the FTSE ...

London’s FTSE 100 had retreated modestly from its morning highs by lunchtime as housebuilders slipped back on mixed mortgage data. By 12.20, the blue chip benchmark was 0.2% higher at 7,092.37 points, while the more domestically-focused FTSE 250 was 0.1% easier at 22,854.5. BLOOMSBURY REPORTS RECORD YEAR Publisher Bloomsbury (BMY) jumped 8.7% to 336p after it reported a record financial ...

UK stocks continued their momentum on Wednesday with more solid gains as investors remained upbeat on the global economic recovery. Defying expectations of a flat opening, the UK’s benchmark FTSE 100 index moved 0.56% higher to 7,120 while the midcap FTSE 250 index, currently sitting at all-time highs, gained 0.33% to 22,951. It comes after a flat session overnight on Wall Street, where ...

UK stocks posted early gains after the S&P500 index hit more all-time highs yesterday, driven by a strong jobs report and a record high in service sector activity. In addition, UK car sales rose around 11% in the key selling month of March. While showrooms have been closed for most of the past year, dealerships have kept sales afloat thanks to ‘click and collect’ and delivery ...

UK stocks underperformed the rest of Europe as basic resources stocks such as BHP Group (BHP) and Rio Tinto (RIO) outweighed gains in consumer stocks. Having surpassed its February high yesterday, at 9am the FTSE 100 had eased back 17 points or 0.25% to 6,713 points. The move down came against a strongly risk-on move in US markets overnight with the Nasdaq 100 having its best day since ...

UK stocks reversed direction on Friday, following US markets lower after strong US non-farm payroll data showed the economy added 379,00 jobs compared with economist’s expectations of 185,000 which sent bond yields higher. Crude prices remained elevated after the OPEC+ group of oil producers surprised the market by deciding to maintain their supply limits. Markets had expected the cartel to ...

UK stocks clawed back early losses on Friday lunchtime ahead of the release of key US employment data with February non-farm payrolls expected to show a gain of 182,000 compared with 49,000 in January. Crude prices spiked as the OPEC+ group of oil producers surprised the market by deciding to maintain their supply limits. Markets had expected the cartel to resume production of up 1.5 million ...

There were gains wherever you looked in the oil and gas sector on Friday as oil prices surged following the shock decision by OPEC and its allies not to increase supply (4 Mar). Brent crude is moving close to $70 per barrel in the wake of that call, the last time it traded above that level was pre-pandemic in January 2020 when tensions between the US and Iran hit fever pitch. The ...

The FTSE 100 tumbled throughout trading on Wednesday, closing 1.3% lower to 6,567.37, as investor sentiment was hit by a perfect storm of Covid-19 vaccine troubles, anxiety over the US Federal Reserve’s latest monetary policy update and a warning from the International Monetary Fund (IMF). A row over vaccine supplies from pharmaceutical giant AstraZeneca (AZN) into the EU continued on ...

UK stocks tumbled throughout morning trading on Wednesday as investors braced for the US Federal Reserve’s latest update on monetary policy, due later in the day. The Fed is expected to leave policy unchanged and stick to its ultra-loose stance with near zero interest rates, $120 billion of bond purchases every month and other liquidity relief measures to help the ailing US economy, which is ...

UK stocks dipped modestly in early trading on Wednesday after the International Monetary Fund (IMF) raised its global growth recovery forecast but flagged Britain’s severe pandemic impact as likely to drag on its own economic bounce-back. The IMF now expects the global economy to grow 5.5% this year, a 0.3% increase from October’s forecast, but cut its UK estimates from 5.9% to 4.5% as ...

Oil explorer Tullow Oil (TLW) received a downbeat response to its first-half results this week – falling 15% since the numbers were announced on Wednesday (9 Sep) and one analyst has warned the company faces a critical final quarter of the year with much resting on the sale of its Ugandan asset. The shares dipped 1% to 16.5p on Friday, as the fall-out from the results continued. They revealed ...

London’s FTSE 100 closed in positive territory on Wednesday after investors largely shrugged off news that a leading Covid-19 vaccine trial was put on hold because a recipient developed a serious unexplained illness. Sentiment was buoyed by some more positive earnings updates and dividend revivals, allowing investors to put worries over Brexit and the impact of the UK’s new restrictions on ...

London’s FTSE 100 traded higher on Wednesday after investors largely shrugged off news that a leading Covid-19 vaccine trial was put on hold because a recipient developed a serious unexplained illness. Sentiment was buoyed by some more positive earnings updates and dividend revivals, while a weaker pound helped exporters. By 12.50, the blue chip benchmark index was up 56.77 points, or ...

The FTSE 100 soared in early trading on Wednesday despite the overnight sell-off in the US, as more upbeat company updates boosted investor sentiment. The UK’s benchmark index defied expectations as it was actually seen opening lower following yesterday’s big tech sell-off in the US, which dragged all three major stock markets – the S&P 500, Dow Jones and Nasdaq – more than ...

The coronavirus pandemic has forced businesses around the world and across the industrial divide to pull emergency levers to conserve cash. As most private investors will be acutely aware, a hefty toll has fallen on company dividends, with billions of pounds worth of planned payouts from UK stocks now taken off the table and out of investor’s pockets. James Dow of Scottish American ...