UK Corporate Announcements Bunzl announces an H1 revenue of £2.61bn up 7% and an adjusted pre-tax profit of £165.1m and sees continued good growth ahead Cairn Energy reports an H1 net cash position of $927m and states it is re-balancing its business to deliver growth Yule Catto announces H1 pre-tax profit of £56m on sales of £603m and…
As widely predicted, its bad news (yet again) for the consortium of Range Resources, Red Emperor and Horn Petroleum drilling in Puntland, Somalia this morning. The RNS is as follows, The Shabeel North well has reached a total depth of 3,945 meters, penetrated 149 meters of interbedded sands and shales of the Triassic…
The 2008 financial crisis caught investors well and truly off-guard, decimating equity valuations across the globe to the tune of trillions, toppling the US & Western European housing markets, destroying millions of jobs & finally, infecting sovereign debt markets. Central banks and governments around the world have since made huge efforts trying to put their…
Monday, August 27, 2012 UK Reporting:- None Detailed S&P 500 Reporting:- Tiffany & Co, Q2, 0.733 S&P 500 Ex Dividends (gross):- Mattel Inc, MAT, (.31) Euro Stoxx 600 Reporting:- Seadrill Ltd, Q2, 0.775, Unione di Banche Italiane SCPA, S1, 0 Economic Data:- 00:01 UK Hometrack Housing Survey, -0.1% previous 09:00 UK German August IFO, 102.6 exp. 103.3 previous…
I came across an interesting perspective on South Falklands oil explorer, Borders and Southern, following the announcement of the estimated 190 million barrels recoverable of gas condensate announced last week. See article from seekingalpha,com below. The article highlights many of the issues facing Borders over coming months: 1. There is a very high cost of…
As has been much reported on this blog, the balance of power within the computer industry continues to shift away from the decades old desktop PC model underpinned by Microsoft Windows. The hardware technology power houses of the past such as Dell and Hewlett Packard are struggling to find their way in a world…
It’s not often that the stock market offers up a second bite at a nice juicy cherry. However, EMED mining is proving to be just one of those – allied with Management who, it seems, are now presenting investors with a possible gift this summer. Back in July we posted a blog (see here…
News headlines this morning caught my eye that apparently gold traders are the most bullish they have been in 9 months. From Bloomberg – Gold traders are the most bullish in nine months after investors’ bullion holdings expanded to a record on mounting speculation that central banks will do more to bolster economic growth. Twenty-nine…
Bullard, Fed St Louis Governer The release of the FED Minutes from the latest open market committee meeting on Wednesday gave a boost to equities across the pond but the optimism didn’t last for long as the Saint Louis Federal Reserve President, James Bullard, seemed to play down the odds of further FED stimulus in…
The objections to investing in Kurdistan have centred on the political tensions between the Kurdistan Regional Government and the central Baghdad government. Baghdad has continually sought to assert that deals done in Kurdistan are against the constitution and hence illegal, and has blacklisted companies signing PSCs in Kurdistan. However, of the top 10 oil and gas companies by market…
