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Reports that the Libyan situation might be resolved through mediation rather than violence sent UK shares sharply higher. The Arab League is said to be considering a proposal to end the fighting in Libya sending oil prices higher. Heavy oil users such as airline International Consolidated Airlines
Read moreFootsie has 6,000 within its sights once more as stocks bounce back strongly on hopes that the Libyan situation might be resolved. Reports that the Arab League is considering a proposal to end the fighting in Libya have boosted sentiment, and has sent the price of oil into reverse. Heavy oil users
Read moreCanamens BNG is not making the final payment to AIM-quoted oil and gas explorer Roxi Petroleum for the purchase of BNG Ltd, which has a stake in exploration interests in Kazakhstan. This could impact the longer-term development of the interests because more cash will be needed to develop them. Th
Read moreFootsie closed lower after an afternoon rally, following a downgrade of Japan's credit weighting by ratings agency Standard & Poors, fizzled out. Life insurers moved to the top of the pile led by Old Mutual, Prudential and Aviva. Mining stocks did well after the US Federal Reserve indicated yesterd
Read moreOil and gas exploration and production group Regal Petroleum has entered into a conditional sale and purchase agreement with Apache East Ras Budran Corporation LDC in respect of its 25% non-operated interest in the East Ras Budran Concession in Egypt. Apache is currently Regal's partner in the conc
Read moreLast month's snow has cost no-frills regional airline Flybe about £6m in lost revenue on cancelled flights and cost for delays, diversions and additional de-icing. The company, which floated in London in December, said almost 2,000 flights were cancelled - 16% of the planned flying programme - alth
Read moreRoxi Petroleum, the Kazakhstan-focused oil and gas company, has received approval from the authorities for the sale of its 40% stake in Galaz to LG International. The decision will trigger the payment by LG of $15.6m to Roxi subsidiary Galaz Energy (GEBV) as well as access to further funding of $1
Read morePre-tax losses narrowed at Hambledon Mining in the half year to June 30 as the Kazakhstan-focused gold miner ramped up production. Pre-tax losses narrowed to £179,000 from £1.1m over the same six month period the previous year, as revenues rose to £7.22m from £5.67m. Gold production from its Seki
Read moreAmbrian has started coverage of pan-African resources firm Mwana Africa with a 'buy' stance and risked net asset value of 30p a share. That follows an audited resource and reserve that the company says confirms the economic viability of its plan to restart the Trojan mine. Now that the report is c
Read moreIrish ingredients and cheese group Glanbia said it is on track for a very strong performance relative to last year in the first half of 2010. The Irish dairy ingredients business has returned to profitability but the Irish consumer products division has had a tough first half. On the US cheese and
Read moreLONDON (Dow Jones)--Roxi Petroleum Plc (RXP.LN), an Central Asian oil and gas company with a focus on Kazakhstan, announced Wednesday Well 806, on the South Yelemes structure, is due to spud within the next two weeks. MAIN FACTS: -This appraisal well is targeted to encounter Jurassic hydroca
Read moreHopes of Footsie making it eight days of rises in a row were dashed at the death. Leaders outnumbered laggards among FTSE 100 stocks but with BP giving up the gains of the morning after a downgrade from debt ratings agency Moody's the blue-chip index ended marginally easier on the day. BP, for once
Read moreLONDON (Dow Jones)--Roxi Petroleum PLC (RXP.LN) said Friday that Hyunsik Jang (aged 53) has joined the Board of the Company as Chief Operating Officer with immediate effect. MAIN FACTS: -Duncan McDougall has stepped down from the Board of the Company with immediate effect to pursue his other
Read moreHopes of Footsie making it eight days of gains in a row were revived over the lunch-time session as the blue-chip index moved back into positive territory. Mining stocks are having a major say in Footsie's direction, with precious metals miners Fresnillo and Randgold to the fore. BP is higher desp
Read moreFootsie has now dipped into the red as the early rally by the miners faded away, though BP continues to recover. News that the net cash requirement for the public sector came in at £11.96bn, against expectations of £20.25bn has had little benefit. The accruals-based measure of public sector net bor
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