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FTSE 250 movers: Oil stocks gush ahead while Cranswick loses out

Mon, 05th Dec 2016 15:30

(ShareCast News) - The FTSE 250 index rose 0.13% to 17,457.33 in the late afternoon.Oil prices continued their steady advance following OPEC's decision to cut its production by 1.2m barrels a day, propping up shares in Tullow Oil, Vedanta Resources (VR) and Petrofac on Monday. Goldman Sachs maintained its 'buy' recommendation for VR and kept its price target at 1,300p. Citibank on the other hand maintained its rating for VR at 'Neutral/High Risk' but upped its price target to £9.30 from £6.60.Copper miner Kaz Minerals enjoyed a boost from a 2.90% jump in copper prices. Separately, analysts at Citi rated the miner at 'Buy' with a price target of £4.50. "Following the restructuring in 2014, the group has an entirely new investment proposition for the market with high growth, low cost, long life, cash generating company," they said.The yellow metal on the other hand fell by 1.41% sending shares in gold miner Centamin down.Cranswick was on the back foot as Numis downgraded its stock to 'hold' from 'add' and cut the target price to 2,311p from 2,536p. While the company last week revealed a strong set of first half results, Numis noted the market's increased wariness of consumer-related stocks.Inter-dealer money broker Tullett Prebon was also downgraded by HSBC to 'hold' from buy' but raised the target price to 480p from 460p, sending its shares lower."While still having above-consensus forecasts, we now see relatively limited upside of 8% for the shares despite several earnings upgrades in the past several months and therefore downgrade shares to Hold," said HSBC.G4S gave back some of the gains from last week when it was rated 'neutral' by Goldman Sachs with a price target of 258p. On Friday, it announced that it had agreed to sell its Israeli arm G4S Israel to private equity firm FIMI Opportunity Funds for an estimated net consideration of 425 million new Israeli Sheqel (£88m) in cash.RisersVedanta Resources (VED) 884.00p 4.49%Kaz Minerals (KAZ) 390.90p 4.16%Tullow Oil (TLW) 325.80p 3.56%Computacenter (CCC) 753.00p 3.36%Carillion (CLLN) 253.00p 3.31%Aldermore Group (ALD) 222.70p 3.29%Morgan Advanced Materials (MGAM) 290.10p 3.24%Debenhams (DEB) 58.10p 3.20%Laird (LRD) 142.50p 3.19%Petrofac Ltd. (PFC) 809.50p 2.53%FallersEuromoney Institutional Investor (ERM) 1,100.00p -4.26%G4S (GFS) 233.90p -3.78%Grafton Group Units (GFTU) 513.00p -3.57%Fisher (James) & Sons (FSJ) 1,620.00p -3.51%Centamin (DI) (CEY) 125.70p -3.01%Cranswick (CWK) 2,166.00p -2.91%Kennedy Wilson Europe Real Estate (KWE) 967.00p -2.57%Tullett Prebon (TLPR) 436.20p -2.57%Pennon Group (PNN) 773.50p -2.46%Aberdeen Asset Management (ADN) 265.80p -2.42%
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Volcan Declares Compulsory Acquisition Of Vedanta Resources

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13 Sep 2018 17:01

Vedanta Resources Subsidiary Discovers Hydrocarbon In Krishna-Godavari

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3 Sep 2018 10:49

Vedanta Resources To Delist In October As Volcan Offer Unconditional (ALLISS)

LONDON (Alliance News) - Volcan Investments Ltd said on Monday that it cash offer for FTSE 250 India-focused miner Vedanta Resources has become unconditional in all respects.Volcan, which

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31 Aug 2018 12:49

Vedanta Confirms Appointment Of Former AngloGold Ashanti Boss As CEO

LONDON (Alliance News) - Mining company Vedanta Resources PLC on Friday confirmed that Srinivasan Venkatakrishnan has commenced his appointment as chief executive officer with immediate in April,

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29 Aug 2018 09:11

Vedanta Resources Awarded 41 Oil And Gas Contracts In India

LONDON (Alliance News) - Vedanta Resources PLC said on Wednesday it has been awarded 41 exploration blocks in sedimentary basins across India at a total bid cost of USD551 million.The were

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29 Aug 2018 08:29

Vedanta's Indian subsidiary awarded 41 exploration blocks

(Sharecast News) - Vedanta Resources announced on Wednesday that Vedanta Limited, in which it indirectly holds a 50.1% stake, has been successfully awarded 41 exploration blocks in sedimentary basins throughout India under the Indian Open Acreage Licensing Policy (OALP), at a total aggregate bid cost of $551m.

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6 Aug 2018 08:08

Vedanta sees numbers slide in several areas in first quarter

(Sharecast News) - Vedanta Resources posted its production and financial results for the first quarter on Monday, with average gross oil and gas production rising 4% year-on-year to 195 kboepd.

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31 Jul 2018 12:45

Vedanta Resources Reports Rise In Indian Unit's Earnings

LONDON (Alliance News) - Vedanta Resources PLC said Tuesday that its Indian unit Vedanta Ltd reported a strong rise in first quarter adjusted earnings and revenue on the back of record volumes in

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Vedanta directors recommend Agarwal buy-out offer

(Sharecast News) - Vedanta Resources has agreed to be taken private by founder and major shareholder Anil Agarwal for a price equivalent to 825p per share.

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31 Jul 2018 08:56

TOP NEWS: Vedanta Resources Recommends Buyout By Chairman Agarwal

LONDON (Alliance News) - Vedanta Resources PLC confirmed Tuesday it has reached an agreement for a cash offer for the rest of its shares from majority shareholder Volcan Investments which already

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30 Jul 2018 17:50

Vedanta Resources Extends Takeover Deadline For Major Shareholder

LONDON (Alliance News) - Mining company Vedanta Resources PLC said Monday it has extended the deadline for its possible acquisition by majority shareholder Volcan Investments Ltd.The was to

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