LSE Market News

AIM-listed Tower Resources (LSE:TRP) saw its shares tumbled down 24.5% from its previous value at 2:00 PM, London Time, after a report that no oil was found in its Ugandan asset. Why has this occurred? The Mvule-1 well, the last of the three wells under the company’s 100% interest in the EA5 licence was drilled […]

Reaction to the release of the Kier Group’s (LSE:KIE) interim report for the first six months of their fiscal year was somewhat mixed this morning. Share price was down 8.4% and 125.00 pence per share although the actual results were quite positive. Shares were trading at 1,365.00 pence on very light trading as of 1:40 […]

Europe’s largest oil company, Royal Dutch Shell, declared its firm intention to acquire the British oil explorer Cove Energy for a tag price close to a £1 billion, official statements from both companies reported on Wednesday, 22nd February. Royal Dutch Shell, through its wholly-owned subsidiary, Shell Exploration and Production (“Shell Bidco”), is offering 195 pence […]

The share price of Asian Citrus Holdings Ltd (LSE:ACHL) fell in morning trading today following an unfavourable news article about the company published today in the Hong Kong based magazine “Next”. The price per share had fallen just over 8%, or 3.38 pence per share with over 5.4 million shares traded by 1:30pm GMT. The […]

Specialist software solutions provider Innovation Group (LSE:TIG) extended its contract with one of Australia’s largest insurance company, whose entity is undisclosed. Innov[7]ation Group, a global provider of softwares applications, which is catered to the insurance industry, with an annual revenue of £175.9 million in 2011, said the contract will generate new software licences to the value...

British power company Scottish & Southern Energy (LSE:SSE) struck a deal with Shell Energy Europe for a 10-year supply of gas to commence in 2015. This is the second supply agreement SSE  has contracted for the past year, with the first one with Statoil being agreed in June 2011, which supplied 500 mcm annually for ten […]

Bowleven (LSE:BLVN) shares were steadily rising since the opening of trading fuelled by rumours of a bid by Africa’s independent oil giant Tullow Oil, hitting 86 pence a share at 11:30 GMT. But minutes after that, at exactly 11:40, Dragon Oil broke its silence and told the authorities it is them and not Tullow Oil […]

Impellam Plc (LSE:IPEL) shares were up 25p to £3.10/share this morning following the release of the company’s preliminary results for FY2011.  Trading remained light despite a very positive report. The Report By The Numbers Net profit was £24.2 million (an increase of £3.1 million over FY2010) on total revenues of £1.13 billion (an increase of […]

BAE Systems (LSE:BA.) took a significant cut in 2011 as headline sales for the year were down 14% from a year ago, citing reduction in defence spending from its major markets, the US and the UK, in what the company described as a “difficult business environment”. BAE lost about £3.121 billion worth of revenue, ending […]

The world’s third largest gold producer, AngloGold Ashanti (LSE:AGD) posted huge gains for the 2011 fiscal year with the balance sheets much healthier than the last, even taking into account a weaker last quarter. Shareholders will receive a final dividend of 200 South African cents per share for the last quarter, more than the combined […]