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London close: Footsie buoyed by global rally

Mon, 01st Jun 2009 16:35

London's top stocks finished with stellar gains as optimism about the global economy boosted markets worldwide. Hopes of a recovering economy pushed forward commodities. Oil is near $68 per barrel, while copper climbed to $5,000 per tonne, its highest since October. Gold rose to $985 an ounce. Copper miner Xstrata finished strongly with Antofagasta, Vedanta and platinum giant Lonmin also joining in the fun.Housebuilder Taylor Wimpey is higher on another encouraging housing market update. Hometrack, the housing market analyst, said that the average house price stayed the same from April to May at £155,600, the first time in 20 months it hasn't fallen month-on-month. Defensives were down though with Centrica the biggest faller along with Drax and BAE.A sharp rally in equities from March helped investment company Alliance Trust post a slight rise in its net asset value (NAV) during the first quarter of 2009. The shares are up slightly.Not all stocks are going well though. Daily Mail publisher Daily Mail and General Trust falls back after being downgraded to 'sell' from 'hold' by Citi, though the target price has been held at 250p. Citi has boosted its full-year earnings per share forecasts for 2009 for DMGT by a quarter, but this largely reflects the 15% tax rate the group is expected to be charged in the near term.A consortium that includes services, maintenance and building group Interserve has bagged two public/private partnership education contracts in Northern Ireland. Interserve will provide facilities management services for four newly built schools. The services are valued at a combined £34m over 25 years.Electrical components maker Chloride's order book is at record levels, despite a marked slowdown in order intake in the second half of its financial year. The company announced a 28% increase in pre-tax profits to £39.8m in the year to 31 March 2009, from £31.1m the previous year. US-focused oil group Nighthawk Energy tumbled on news it and its partner Running Foxes have agreed to sell to finance group San Severina a 20% working interest in the Jolly Ranch prospect in Colorado. Nighthawk will receive $10.9m initially and a further $29m if all of the options are exercised.Mainland Europe property investor Hansteen said it is continuing to see resilience in its main markets, with net occupancy rising between 31 December and 15 May.Cake and bread maker Finsbury Food has received an early stage bid approach, the AIM-listed firm confirmed this morning. "The preliminary approach was exploratory in nature and the directors believe that there is considerable doubt that an offer will be forthcoming from this party," the company said.Specialist printing group Printing.com reported a 15% decline in full year profit as margins came under pressure, but announced a special dividend and said it is attracting a record level of new clients. Pre-tax profit fell to £2.06m for year ended 31 March 2009 from £2.42m before. Turnover during the period was up 7.3% to £14.47m.FTSE 100 - RisersXstrata (XTA) 756.00p +10.53%Vedanta Resources (VED) 1,724.00p +9.04%Liberty International (LII) 396.50p +8.19%Legal & General Group (LGEN) 65.20p +7.95%Anglo American (AAL) 1,910.00p +7.48%Thomas Cook Group (TCG) 238.25p +7.44%Cairn Energy (CNE) 2,672.00p +7.31%Old Mutual (OML) 78.40p +6.96%Aviva (AV.) 357.25p +6.80%Johnson Matthey (JMAT) 1,287.00p +6.72%FTSE 100 - FallersCentrica (CNA) 237.50p -3.46%Compass Group (CPG) 349.00p -2.24%Amlin (AML) 342.75p -2.00%BAE Systems (BA.) 335.00p -1.98%Drax Group (DRX) 480.75p -1.84%Sage Group (SGE) 187.10p -1.53%Tesco (TSCO) 359.30p -1.53%Randgold Resources (RRS) 4,346.00p -1.16%HSBC Holdings (HSBA) 552.00p -0.81%Autonomy Corporation (AU.) 1,527.00p -0.72%FTSE 250 - RisersCookson Group (CKSN) 311.50p +15.37%Talvivaara Mining Company (TALV) 377.25p +13.12%Charter International (CHTR) 596.50p +12.87%F&C Asset Management (FCAM) 88.25p +10.66%Barratt Developments (BDEV) 173.00p +9.15%John Wood Group (WG.) 307.25p +9.05%Euromoney Institutional Investor (ERM) 226.00p +8.92%Ashtead Group (AHT) 56.25p +8.70%Ferrexpo (FXPO) 176.00p +8.64%Enterprise Inns (ETI) 160.50p +8.45%FTSE 250 - FallersMicro Focus International Plc (MCRO) 368.75p -6.70%Catlin Group (CGL) 335.00p -5.63%Novae Group (NVA) 362.00p -3.47%SDL International (SDL) 320.75p -3.10%Hiscox (HSX) 315.50p -2.92%BTG (BGC) 149.00p -2.77%Pace (PIC) 195.00p -2.50%Berkeley Group Holdings Units (BKG) 866.50p -2.26%Domino Printing (DNO) 215.00p -1.83%Jardine Lloyd Thompson Group (JLT) 421.50p -1.52%
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14 Oct 2011 16:46

London close: Higher finish amid euro optimism

The top share index closed off earlier highs but still buoyant ahead of the weekend amid optimism after Thursday's vote by Slovakia to expand the Eurozone' rescue fund lifted sentiment. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF

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14 Oct 2011 12:18

London midday: Stocks rise after Slovak vote

The top share index is buoyant after Thursday's vote by Slovakia to expand the Eurozone' rescue fund lifted sentiment. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF), was approved by Slovak MPs, two days after they voted against the

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14 Oct 2011 10:43

Clipped wings at Nighthawk

Nighthawk, the US-focused oil development and production company, has been unable to proceed with its planned acquisition of Running Foxes Petroleum. The firm had planned to acquire both its working interest and the operatorship of the Jolly Ranch project, but said market conditions prevented the m

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8 Sep 2011 10:34

Nighthawk names Gutteridge non-exec chairman

Nighthawk Energy announced its latest addition to the US focused oil development and production firm with the appointment of Stephen Gutteridge as non-executive chairman. Gutteridge, who has over 30 years working in the oil and energy industries, starts with immediate effect. He has previously work

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19 Jul 2011 09:32

Nighthawk names new COO

US-focused oil producer Nighthawk Energy has appointed Charles "Chuck" Wilson as its chief operating officer, adding another new member to its executive management team in three months. In May, Richard Swindells joined Nighthawk's board of directors as the chief financial officer. Wilson, who has

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9 May 2011 13:59

Nighthawk Energy announces new CFO

US-focused oil company, Nighthawk Energy, has announced that Richard Swindells will join its board of directors as chief financial officer. Swindells will join from investment bank Ambrian Partners, where he acts as broker and nominated adviser to a number of oil and gas and other resources compani

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28 Apr 2011 15:23

Reserves at Nighthawk's Colorado project disappoint

Shares in US-focused oil group Nighthawk Energy took a dive on Thursday after it revealed low initial reserve numbers at its 50%-owned Jolly Ranch Project in eastern Colorado, US. The group said that proved reserves have only been attributed for two wells from the Cherokee formation (Craig 4-4 and

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8 Mar 2011 16:53

London close: FTSE 100 rallies to flat finish

The FTSE 100 rallied strongly to close flat after a volatile. Traders were unsure how to react to continuing violence in Libya and indications from Opec that the cartel will lift oil production. The oil price eased, but so did metals, which dealt a blow to the mining sector, particularly precious m

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8 Mar 2011 14:34

London afternoon: Miners drag down Footsie

Mining stocks are weighing heavily on Footsie as the price of gold and copper moved lower today. Precious metal miners Randgold Resources and African Barrick are the big fallers in the sector, but even copper miner Antofagasta is under the cosh, despite announcing it is to pay a huge special divid

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8 Mar 2011 11:59

Jolly Ranch progress cheers Nighthawk

Shares in Nighthawk Energy jumped after the US-focused oil group reported progress at its Jolly Ranch project in Colorado. Three wells at the project have been completed and two are undergoing a period of test production. Nighthawk added that another well, which has been on long-term test producti

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8 Feb 2011 14:28

Small caps round-up: Ark Therapeutics, Hambledon, Nighthawk ...

Drug developer Ark Therapeutics has sold the majority of its wound care business to Crawford Healthcare for up to £2.7m, comprising £0.77m upfront and up to £1.93m in milestone payments. The value of the gross assets being sold was put at £1,153,000 as at 30 June 2010. The losses on ordinary activi

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24 Jan 2011 15:56

Nighthawk surges after simulation study

Shares in oil development and production company Nighthawk Energy gushed higher Monday after an upbeat trading update revealed a significant increase in estimated oil in place at the Cherokee and Atoka shale formations on its Jolly Ranch prospect. The company said that the reservoir simulation mode

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29 Nov 2010 15:22

Nighthawk to take write-downs as it focuses on Jolly Ranch

Oil explorer Nighthawk Energy has decided to focus exclusively on its 50%-owned Jolly Ranch prospect in Colorado after completing a strategic review. The Company's interest in the Revere waterflood projects will be assigned to Running Foxes Petroleum, the operator, as of 1 January 2011 in return fo

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29 Nov 2010 13:20

Broker tips: Trinity Mirror, Iomart, Nighthawk Energy

The share price of newspaper group Trinity Mirror is down by a half over the last year and a third over the last month, prompting broker Panmure Gordon to suggest that the timing might be right for the group to embark on a share buy-back programme. The broker thinks that buying back the shares wou

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29 Nov 2010 12:46

Broker snap: Plenty of upside left at Nighthawk

Oil explorer Nighthawk Energy has announced the results of its strategic review and it did not take long for the market to look at the size of the write-downs the company announced and slice around a fifth of the value from the company's share price. Resource sector specialist Westhouse Securities

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