FTSE 100 and 250 quarterly review takes effect as Hikma, Tullow Oil and Afren shuffle March 23, 2015 The shake-up revealed as a result of the quarterly review of the FTSE 100 and 250 takes effect this morning. Hikma Pharmaceuticals entered the blue-chip benchmark index, and its shares were down 2 per cent at £21.40. The pharmaceutical products manufacturer, which floated around ten years ago, has a market cap of £4.22bn. Hikma knocked out Tullow Oil [...]
FTSE 100 closes above 7,000 as Europe agrees Greece deal March 20, 2015 The FTSE 100 closed about 7,000 points this evening, ending the day at 7,022 after breaching the "psychological" barrier for the first time this afternoon as Europe agreed a further bailout deal for Greece. It's the first time the index has ever risen as high as 7,000 – in 1999 it rose to 6,750, before [...]
FTSE 100 and 250 quarterly review: Hikma, AA, Virgin Money Holdings and Imagination Technologies Group are in and Afren, Game Digital and Oxford Instruments are out March 4, 2015 The FTSE Group has released its quarterly review showing which companies have edged into the index and which have dropped out. Hikma Pharmaceuticals made its way into the FTSE 100 while Tullow Oil has fallen out of the top index. Hikma floated on the London Stock Exchange in 2005. Tullow will now join the FTSE [...]
Tullow oil set to drop out of FTSE 100 in reshuffle March 2, 2015 The FTSE 100 is set for a reshuffle later this month with Tullow Oil expected to drop out of the benchmark of the biggest companies listed on the London Stock Exchange. Meanwhile, Virgin Money and AA are likely to be added to the FTSE 250, the next 250 biggest companies after the top 100, after [...]
FTSE 100 and 250 promotions and relegations: Tullow Oil, Afren set to slip after quarterly review March 2, 2015 Tullow Oil and Afren are likely to slip out of their respective FTSE indexes after this week's quarterly review. Analysis by Société Générale said Tullow Oil could fall out of the FTSE 100. The Irish firm recently reported a £1.3bn pre-tax loss, its first in 15 years, having revealed a $2.3bn (£1.5bn) write-off in January. [...]
Tullow Oil share price falls four per cent as it unveils $2bn loss February 11, 2015 The figures Irish oil firm Tullow Oil reported a $2bn (£1.3bn) pre-tax loss, its first in 15 years, amid crumbling oil prices. This dragged its full-year revenue down 16 per cent to $2.2bn ($1.4bn). The FTSE 100 company also suspended its dividend, making no final payment in 2014, meaning shareholders received four pence per share. Its shares [...]
Tullow Oil will show impact of tough market February 8, 2015 Irish oil firm Tullow is expected to report a large loss when it reveals its full-year results on Wednesday, after what analysts have described as a “tough year”. Last month, the company announced that it had written off $2.3bn (£1.5bn) worth of assets and exploration work, following a series of difficulties over the past 12 [...]
Cairn Energy and Genel sheltered from oil prices due to cash balances February 4, 2015 London-listed Cairn Energy and Genel Energy are among the oil firms which are least exposed to oil price changes, due to a mixture of their gas price exposure and large cash balances. According to research from Morgan Stanley, if the brent crude oil price moves up or down by $10 per barrel in the long [...]
Tullow Oil writes off $2.3bn as falling oil price takes its toll January 15, 2015 The figures Africa-focused Tullow Oil has had announced it has written off billions of dollars of exploration work and assets. Tullow has written off $2.3bn and expects to cut its capital expenditure to $1.9bn. This means a downsizing of the exploration budget by $200m. Why it's interesting Oil companies are having a rough time at [...]
Tullow switches focus to combat falling oil prices November 12, 2014 LONDON-listed Tullow Oil announced yesterday that it is changing its focus to concentrate on its African assets in response to declining oil prices. The company said that given the current expectations for the oil price and reduced commercial success from offshore drilling, returns from drilling complex, deepwater wells are currently less attractive and so it [...]