|Bid||140.95 x 0|
|Ask||141.10 x 0|
|Day's range||137.70 - 142.65|
|52-week range||137.70 - 254.60|
|Beta (3Y monthly)||1.27|
|PE ratio (TTM)||15.34|
|Earnings date||12 Feb 2020|
|Forward dividend & yield||0.04 (2.52%)|
|1y target est||3.24|
Shares in some London-listed oil and gas producers including Tullow Oil , Premier Oil and Cairn Energy fell on Thursday after the main opposition Labour Party pledged to raise taxes on the sector if it wins a Dec. 12 election. It added it would safeguard jobs and skills that depend on the offshore oil and gas industry. Tullow shares were down 1.4%, falling to their lowest since 2016, Premier shares fell 1.9% and Cairn shares 1.3% by 1219 GMT.
Both OPEC and the IEA released key reports this week, both of which pointed to some major worries for the oil cartel, yet oil markets seem not to have noticed
Premier Oil said on Thursday production would come in at the top end of its forecast range this year, driven by its flagship North Sea Catcher field, and that it would cut debt by more than the $300 million previously promised. As the industry struggled with weak oil prices following a slump in 2014, Premier's debt climbed. Now it is looking to bring the figure down to under $2 billion by selling its stake in the offshore Zama field in Mexico.
* U.S. futures point to weaker Wall Street open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Decent GDP growth path is not too far away as the chances of a resolution of Brexit-induced uncertainty is likely and a sizeable fiscal impulse is on the horizon, Goldman Sachs economists say. With Conservatives being favourites to return to power, Goldman Sachs believes clarity on the UK's terms of exit should emerge faster than under a Labour government.
* U.S. futures point to weaker Wall Street open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Amid trade war fatigue, European stock markets are once again driven (down about 0.6% at the moment) by Trump commenting on the negotiations with China. Alain Bokobza, head of global asset allocation at SocGen told us during a chat on Tuesday afternoon that reading markets on the short term was more than tricky.
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
* STOXX 600 hit July 2015 high at yesterday's close Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Madrid is lagging the market as investors brace for more instability after the Socialists and the far-left Podemos party formed a government pact that still lacks majority, following an inconclusive general election - the second this year. The IBEX is down 1.6% and the STOXX is falling 0.8% -- a gap that at a first glance isn't too scaring.
London's main bourse retreated on Wednesday as traders grew weary of mixed trade signals from U.S. President Donald Trump, while mid-caps slid on the back of weak economic data and a plunge in Tullow Oil. The more internationally-exposed FTSE 100 fell 0.2%, trimming some early losses as exporter stocks such as Diageo and AstraZeneca benefited from a weaker pound. The jump in exporter shares also helped the bourse outperform the broader European benchmark index.
European shares retreated from four-year highs on Wednesday, as ambiguity over a U.S.-China trade deal and intensifying unrest in Hong Kong kept investors at bay, while Spanish stocks underperformed as Rome braced for more political uncertainty. The pan-European STOXX 600 index fell 0.2% with trade-sensitive autos and miners hurt as a much awaited speech by U.S. President Donald Trump gave scant clues on the progress of a trade deal with China.
Tullow Oil cut its outlook for production and cash flow because of persistent problems in Ghana, while revealing that the quality of oil recently discovered in Guyana was heavy in nature, sending its shares down more than 20%. Commenting for the first time on the oil discovered in Jethro-1 and Joe-1 in the South American country, Tullow said on Wednesday it was categorized as heavy crude, with high sulphur content, which would make developing it much harder than if it were medium or light crude. Analysts at Jefferies said the production downgrade was bad enough, although to some extent expected, but the additional news from South America about the crude quality made it worse.
The Tullow Oil (LON:TLW) share price has risen by 1.42% over the past month and it’s currently trading at 210.2p. For investors considering whether to buy, hol8230;
It is still too early to give a new timeline on a final green light for investment in Uganda's first oilfields, Tullow Oil Chief Executive Paul McDade said on Wednesday, reiterating Tullow's plan to sell down its stake. "We will not (make an) FID (final investment decision on) the project at the current equity," McDade told Reuters. Tullow's plan to sell another stake in its 230,000 barrel per day project in Uganda to France's Total and China's CNOOC , already partners in the fields, was called off in August due to a tax dispute with the Ugandan authorities.
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The Tullow Oil (LON:TLW) share price has risen by 8.35% over the past month and it’s currently trading at 227.3p. For investors considering whether to buy, hol8230;
Tullow Oil plans to drill three or more oil exploration wells in Guyana next year, Chief Executive Officer Paul McDade said on Monday after the firm's second offshore oil discovery in the South American country. Following the Jethro-1 discovery last month, London-listed Tullow announced it had also hit oil at the Joe-1 well in the Orinduik block. Tullow shares were trading more than 8% higher at 16:30 GMT (12:30 p.m. EDT), also supported by a sharp rise in crude oil prices following a weekend attack on Saudi Arabia's production facilities.