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London Close: Footsie enjoys pre-Christmas surge

Fri, 23rd Dec 2011 12:45

Footsie has battled its way above 5500, and there are just a handful of the top-share index's constituents that are not participating in the advance, including banking titans Lloyds, Standard Chartered, HSBC and Royal Bank of Scotland.Hopes that the US recovery is gathering pace and that it might, perhaps, drag Europe along with it in its slipstream has put a smile on the face of investors. A slight black spot, however, has been the monthly bank lending figures which have revealed a weakening in both mortgage lending and lending to businesses. The figures from the BBA also showed unsecured borrowing, like credit cards and overdrafts also fell in November.As well, the Office for National Statistics (ONS) reported that service sector output contracted at a 0.7% on month rate of change in October.All of the above indicators contributed to a fall in 10 year gilt yields to below 2% for the first time. M&A activityAmong the FTSE 250 members, property group London and Stamford is on the up after it said it has sold 17 warehouses for £265m, a figure which exceeds the valuation figure for the portfolio as at 30 September 2011. Incontrast, Perform, the digital media firm specialising in sports content, if off the pace after it said it has acquired two related German businesses: Spox Media and mediasports Digital. The two businesses are being acquired for an initial cash consideration of €3.65m, with a maximum deferred cash consideration of €12.35m payable. More FTSE 250 actionAmlin, the insurance company, has increased its coverage against hurricanes and earthquakes in the US and wind-storm peril in Europe through a $150m bond. The deal has seen Bermudian company Tramline Re take on the re-insurance contract then package it up into "principle-at-risk" three-year variable rate notes or bonds. The proceeds from these notes will make up the collateral for Tramline Re's obligations to Amlin.Out in the UK section of the North Sea, there has been good news for Antrim Energy and Premier Oil. Antrim Energy, the Canadian oil company, says it has drilled a successful sidetrack well to assess the Erne discovery, an asset it jointly owns with Premier Oil. Antrim says the work on Erne has "de-risked" other drilling in the region.Blacks getting ready to fold up its tentsThe situation is looking very bleak for Blacks Leisure, the outdoor clothing retailer which looks to be in a death spiral. The company has given up looking for a saviour, and seems resigned to selling off bits of the company piecemeal. Blacks says it is no longer in an offer period - i.e. no one is interested in buying the company - but it continues to hold discussions with a number of selected parties with a view to concluding the sale of trade, assets and brands of the company in January 2012.It warns, however, that "it is most unlikely that any value will be attributable to the ordinary shares."Another tiddler getting hammered is drugs developer SkyePharma, after its Flutiform asthma treatment ran into further regulatory delays. FTSE 100 - RisersTullow Oil (TLW) 1,378.00p +2.53%Reed Elsevier (REL) 515.50p +2.38%CRH (CRH) 1,255.00p +2.37%SABMiller (SAB) 2,237.50p +2.19%Pearson (PSON) 1,217.00p +2.18%National Grid (NG.) 616.00p +2.16%BP (BP.) 460.00p +2.15%Severn Trent (SVT) 1,482.00p +1.93%Antofagasta (ANTO) 1,222.00p +1.92%Polymetal International (POLY) 1,130.00p +1.89%FTSE 100 - FallersLloyds Banking Group (LLOY) 25.61p -0.91%Standard Chartered (STAN) 1,379.00p -0.72%Intertek Group (ITRK) 1,936.00p -0.26%Eurasian Natural Resources Corp. (ENRC) 628.00p -0.24%HSBC Holdings (HSBA) 487.90p -0.13%Serco Group (SRP) 469.40p -0.11%FTSE 250 - RisersRegus (RGU) 84.55p +5.69%Kenmare Resources (KMR) 45.05p +5.50%Supergroup (SGP) 526.00p +4.78%Homeserve (HSV) 295.20p +4.02%DS Smith (SMDS) 193.50p +3.31%Misys (MSY) 234.40p +3.21%London & Stamford Property Ltd. (LSP) 108.10p +3.05%Caledonia Investments (CLDN) 1,375.00p +2.77%Soco International (SIA) 295.80p +2.67%Centamin Egypt Ltd. (CEY) 85.20p +2.53%FTSE 250 - FallersCarpetright (CPR) 480.00p -5.51%Ocado Group (OCDO) 56.10p -4.92%Perform Group (PER) 205.30p -2.24%Kier Group (KIE) 1,328.00p -2.06%Rathbone Brothers (RAT) 1,000.00p -1.96%Brown (N.) Group (BWNG) 227.50p -1.81%Rank Group (RNK) 125.10p -1.26%Renishaw (RSW) 922.00p -1.23%Interserve (IRV) 315.00p -1.19%Provident Financial (PFG) 924.50p -1.18%--jh
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15 Nov 2013 10:11

Antrim Energy Shares Plummet Despite Its First Ever Quarterly Profit

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25 Oct 2013 11:24

UK WINNERS & LOSERS: Partial Sell-Off Again Sees Centamin Rise As Nyota Falls

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25 Oct 2013 10:29

STOCKS NEWS EUROPE-UK small caps up slightly more than blue-chips

Britain's small cap equity indexes rise to slightly outpace gains on the blue-chip index. The FTSE Small Caps Index and junior-listed FTSE AIM All Share Index are both up by 0.2 percent in mid-session trade, with the blue-chip FTSE 100 index up by 0.1 percent. The FTSE 250 Mid Caps I

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25 Oct 2013 09:33

MARKET COMMENT: UK Shares Trade Flat, UK GDP In Line, German Data Weak

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25 Oct 2013 08:24

Antrim shares jump as Causeway and Cormorant production resumes

Canada-based oil and gas company Antrim Energy said oil production at the Causeway and Cormorant East Fields in the North Sea had restarted. It follows the completion of maintenance work on the North Cormorant platform. Antrim, which has a 35.5% interest in the Causeway field and 8.4% interest in

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25 Oct 2013 07:22

Antrim Energy Says Production To Rise At Causeway Field

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2 Jul 2013 15:05

Antrim says new technology puts small N.Sea oil field back on track

By Sarah Young LONDON, July 2 (Reuters) - Small North Sea explorer Antrim Energy said new technology had allowed it to revive plans to start oil production at a field it previously abandoned as unviable, sending its shares up 45 per cent and raising hopes other such fields could be develope

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2 Jul 2013 11:20

STOCKS NEWS EUROPE-UK small caps fall 0.1 percent mid-session

The FTSE AIM index falls 0.1 percent, outperforming a 0.4-percent drop from the midcaps, while lagging the FTSE Small Cap index which trades flat. AIM-listed exploration and production firm Antrim Energy jumps 46 percent in brisk trade after the UK Department of Energy and Climate Change a

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15 May 2013 13:53

Antrim Energy fails to impress despite reduction in Q1 losses

Antrim Energy shares dropped by nearly a third after the AIM-listed exploration and production company revealed its working capital declined sharply in the first quarter of the year - and despite significantly reduces its losses for the period. At the quarter-end the group had a working capital de

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14 May 2013 11:54

Antrim Energy's farm out deal with Kosmos Energy approved

Antrim Energy's farm out deal with Kosmos Energy has been given the green light by the Irish government. The two will now apply to the Minister of State at the Department of Communications, Energy and Natural Resources for the licensing option 11/5 to be converted into a 15-year frontier explorati

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1 Feb 2013 09:32

Antrim Energy pulls withdraws from Fionn Field subarea

AIM-listed exploration and production company Antrim Energy has elected to opt out of the Fionn Field development in the North Sea, according to an operational update issued by the company on Friday. The company, which has interets offshore in the UK North Sea, Ireland and Tanzania, stated that the

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1 Feb 2013 07:55

Friday broker round-up UPDATE

Afren: HSBC shifts target price from 190p to 200p, while reiterating an overweight rating. Antofagasta: Exane BNP reduces target price from 1500p to 1350p maintaining an outperform rating. Antrim Energy: Westhouse Securities lowers target price from 70p to 65p and reiterates a buy recommendation.

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16 Jan 2013 17:36

CORRECTED-UPDATE 2-Antrim's oilfields shut after leak in UK Brent pipeline system

(Corrects paragraph 8 to say oil prices hit a high of $110.84, not $111) * Production halted at Causeway, Cormorant East fields * Analyst estimates production could be halted by a week * Antrim shares fall as much as 4 percent By Krithika Krishnamurthy Jan 16 (Reuter

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16 Jan 2013 15:35

UPDATE 1-Antrim's 2 fields shut after leak in UK Brent pipeline system

* Production halted at Causeway, Cormorant East fields * Analyst says impact on Antrim could be minor * Antrim shares fall as much as 4 percent By Krithika Krishnamurthy Jan 16 (Reuters) - Antrim Energy Inc said two of its oil fields in the North Sea went off production following a leak in an oil p

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16 Jan 2013 09:17

Antrim Energy: potential hydrocarbon leak on Cormorant Alpha platform

Antrim Energy has announced that the export infrastructure system used by the Causeway Field and Cormorant East Field in the UK Northern North Sea is currently unavailable due to a potential hydrocarbon leak on the Cormorant Alpha platform. All production and associated pipeline infrastructure ass

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