CITY MOVES | WHO’S SWITCHING JOBS January 17, 2011 RSM Tenon The financial services firm has appointed two new directors and an associate director in London. Nick Atkinson has been promoted to a risk management director, specialising in internal audits of the NHS. Nick Davies (pictured) has been promoted to business advisory director in the audit, tax and advisory team, specialising in corporate clients. [...]
BEST OF THE BROKERS January 17, 2011 BOVIS HOMES UBS rates the housebuilder “neutral” and has increased its target price from 401p to 430p. The broker has lifted its earnings per share forecasts after better than expected margins in the firm’s trading update, and believes Bovis can deliver better returns in the long-term. Returns growth at Bovis is below the sector average, [...]
Soco abandons DRC wildcat well January 17, 2011 Oil and gas exploration company Soco International has plugged and abandoned its Bayingu-1 wildcat well, located in the Nganzi Block, onshore Democratic Republic of Congo. Though the exploration found gas and oil, the reservoir sands at the primary target were poorly developed and unsuitable for commercial use.
Salamander launches Thai well January 17, 2011 UK-based Salamander Energy has started drilling at an appraisal site in North-east Thailand, a project that it expects to complete in 45 days on a dry-hole basis. The Dao Ruang-2 appraisal well will target a fracture network in the Pha Nok Khao Permian carbonate reservoir which was mapped by the company’s recently acquired high resolution [...]
Caza starts drilling in Louisiana January 17, 2011 Texan company Caza Oil & Gas has started drilling at its prospect in Arran, located in the Acadia Parish, Louisiana. Drilling at the well, known as Marion Baker-1, started on Saturday. The company is expecting to find hydrocarbon bearing reservoir sections.
Production up for UK Coal January 17, 2011 UK Coal has said that its coal production figures to 25 December 2010 were up for the year, but that it expected to post a loss on property disposals. The company said that production had risen from 7m tonnes to 7.2m tonnes, with fourth-quarter production jumping to 2.3m tonnes from its 2009 total of 1.6m [...]
6,000 could be the FTSE’s magic number January 17, 2011 PLATO said: “A good decision is based on knowledge and not on numbers,” yet we are forever hearing about psychological barriers in financial markets. One of the worst offenders is the 6,000 number on the FTSE 100. Friday saw the index close above it, so almost inevitably the City spent yesterday speculating on whether or [...]
INVESTORS GIVEN CAUSE TO CHEER January 17, 2011 CFD MARKET STRATEGIST, GFT EUROZONE investors had cause to cheer last week as bond auctions in Portugal, Spain and Italy went better than expected. As the auctions approached, their success looked pretty much guaranteed thanks to the efforts of the European Central Bank (ECB), along with promises of support from China and even chronically-indebted Japan. [...]
Running out of time to deal with Spain’s banks’ losses January 17, 2011 AS THE one-time American defence secretary Donald Rumsfeld once so famously observed, it is not enough to say that we don’t know everything. In fact, we can break down the things we don’t know into categories. Some things we know we don’t know: known unknowns. Others, we don’t know we don’t know: unknown unknowns. From [...]
THE TIPSTER January 17, 2011 INDUSTRIAL giant General Electric reports its fourth quarter earnings on Friday. The company is often seen as something of a barometer for the global economy as a whole but the share price still remains somewhat depressed from the highs of 2007. Demand from emerging economies will continue to lend support to sectors such as its [...]
