LSE Market News

The Bank of England has named the banks and financial institutions that took part in a new lending scheme  UK’s central bank formulated to boost the cash-starved British economy.  Whilst they were named, it is up to these institutions how to allocate the funds. Five of the six biggest lenders in the British market, namely: […]

RBS (LSE:RBS) Group CEO Stephen Hester presented a progress report on the restructuring process of the bank at a conference in London.  He concluded that RBS “is nearing the point of becoming a recovered bank, and well on the way to becoming a good bank.” His PowerPoint presentation demonstrated milestones reached, and objectives yet to reach […]

Oil and gas explorer Cairn Energy (LSE:CNE) authorised another sale of a portion of its interest in Cairn India Limited, in line with the company’s mandate of being an exploration and development company. As announced earlier today, the independent oil and gas inked a deal to complete an on-market sale of 8% of its shareholdings […]

Like all gold juniors Ortac Resources (LSE:OTC) has had a fairly miserable year in share price terms. But that does not reflect what has happened on the ground. I tipped this stock at 0.775p in September 2010 and at 0.605p today the company is valued at just £14 million. For reasons I shall explain below […]

“See the guy at the end of the bar?  Did ya notice that he has taken nary a sip?  See how his head is leaning over his glass?  Look closer.  He’s not drinking.  He’s just crying. You see, he bought shares in Bumi (LSE:BUMI) about a-year-and-a-half ago.  Put his life savings in, as I understand, […]

Independent oil and gas producer Bayfield Energy Holdings plc (LSE:BEH) renegotiated its crude oil sales contract with state-run oil company, Petrotrin, in Trinidad and the selling price to be used will now be based on Brent Crude, dropping the existing West Texas Intermediate (WTI) crude marker. The contract, signed in 2009 in relation to Bayfield’s […]

New Zealand – focussed oil and gas explorer Kea Petroleum plc (LSE:KEA) said its first exploration well in the country this year is a commercial discovery, more than a month after oil and gas was discovered. In a statement today, Kea confirmed there was “no confining boundaries” observed during initial build up and the maximum […]

JJB Sports (LSE:JJB) shares have just been suspended. Administrators have been appointed and the company says that while assets can, and will, be sold shareholders will get nothing. Nil. Rien. Zippo. Surely everyone can understand that? I warned here several times ( 6th Sept and 17th Sept) that this would happen and that a) if […]

You will be aware of my concerns about AIM listed Sefton Resources (LSE:SER) shares in which traded at 95p in 2001 and are 1.55p today. The company has yet to comment or issue legal proceedings about my article of Friday which invited it and its chairman Jim Ellerton to explain why successive RNS statements were […]

Theatrical agency Reach4Entertainment (LSE:R4E) has been one of my worst tips ever. 81p in 2007 – when the company was called First Artist has become 3.5p today. My former colleagues at a site I shall not mention decided to shoot the dog after interims on 12th September. Unlike them I have spoken to chairman David […]