LSE Market News

Solo Oil Drilling Report Stirs Activity

08 Feb 2012 @ 02:10
Solo Oil Plc (LSE:SOLO) released an updated drilling report this morning for its Ntorya-1 exploration well.  The Ntorya-1 well is in the Ruvuma Basin in Tanzania. The company announced that the well has been drilled to a depth of 2,500 metres, but without reaching sandstone reservoirs as expected.  A prior drilling report released less than […]

Glencore-Xstrata Merger Creates a New Powerhouse

07 Feb 2012 @ 20:20
Glencore International and Xstrata announced  a “merger of equals” to create a major natural resources group to form a combined market equity of market value of US$90 billion. The merger, according to Ivan Glastenberg, Chief Executive Officer of Glencore (LSE:GLEN) and a Non-Executive Director of Xstrata, will create a “new powerhouse in the global commodities […]

Ferrex Shares Rise on Positive Mining Reports

07 Feb 2012 @ 02:51
Ferrex Plc (LSE:FRX) published a Resource Drilling update on its operations in Africa prompting a share price increase of 18.07% on volume of 4,005,513 by late-morning trading. Update on Operations Dave Reeves, Ferrex Managing Director, summarised the positive report saying that two projects in particular, the Nayega Manganese Project in Togo and the Malenane Iron […]

London Mining Expands on Operations

02 Feb 2012 @ 03:26
Iron ore producer London Mining (LSE:LOND) sends off its’ first ship loaded with 49,656 wet metric tonnes (“wmt”) of iron ore from their Marampa Mine in Sierra Leone, which is bound for Europe. This is the first of the three shipments scheduled to deliver London Mining’s produce, with the second ship bound for China and the third to be provided to Glencore, […]

Carecapital Stocks Up 145% At AGM

01 Feb 2012 @ 02:41
CareCapital Group (LSE:CARE) shares rose a stellar 145% today following the release of their annual trading update for presentation at the company’s Annual General Meeting today. Operations Update Although previously approved by the shareholders, the commentary in the Trading Update regarding the November 2011 sales of their entire German operations portfolio laid a solid foundation...

Carpetright Shares Decline Following Interim Management Statement

31 Jan 2012 @ 22:54
Shares of Carpetright took an 8% dip today upon publication of the company’s Interim Management Statement for the 3rd Quarter, which ended on January 21, 2012. Report Details The folowing information is taken directly from the Interim Management Statement Group sales were down 3.8% for the Quarter. UK sales were down 4.8% for the Quarter. […]

Matra Petroleum Production on Hold

31 Jan 2012 @ 02:51
Matra Petroleum (LSE:MTA) announced today that drilling plans for some of its operations will be delayed for 4-6 weeks due to circumstances beyond its own control. Update on Operations The company cited weather conditions, specifically, snow accumulation and spring melting in the area of the Sokolovskoe mining field for potential delays in commissioning and startup […]

RBS succumbs to Public Pressure

31 Jan 2012 @ 02:03
Royal Bank of Scotland Group (LSE:RBS) Chief Executive Officer Stephen Hester will no longer receive his £970,000 worth of RBS shares bonus. The decision came after the Labour Party leader Ed Miliband declared they will rouse the House of Commons to a vote over the controversial remuneration package. The news first broke out on Thursday, […]

BP will Pay Compensatory Damages Rules US Judge

28 Jan 2012 @ 03:12
BP (LSE:BP.) will have to shoulder compensatory damages claimed by third parties against its’ contractor, Transocean, in relation to the 2010 oil spill incident on the Gulf of Mexico. Judge Carl Barbier of the US District Court in New Orleans ruled yesterday in a 30-page document, that BP is to indemnify Transocean for their part […]

RBS Executive Receives Hostile Public Reception for Hefty Bonus

27 Jan 2012 @ 20:36
Royal Bank of Scotland (LSE:RBS) CEO, Stephen Hester bonus of £963,000 in shares has come under scrutiny from various parties. To the anger of many Britons, the board of directors of the state-owned bank awarded Mr. Hester with the annual bonus which a majority of ordinary workers struggle to earn in a lifetime. The move […]
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