Shares in small cap oil and gas firms Aminex (AEX:AIM) and Solo Oil (SOLO:AIM) are riding high after a big upgrade to the estimated natural gas resources at their Ntorya development in Tanzania.An independent audit of the asset (75%-owned by Aminex and 25% by Solo) carried out by RPS Energy identified 1.87 trillion cubic feet of gas-initially-in-place.This is up 12-fold on the previous...

US businesses under pressureCommercial bankruptcy filings in the US jumped 29% in the first half of 2016 prompting more worries of an economic slowdown in the country. In June, commercial filings increased 35% year-on-year, the eighth consecutive month the series has increased, according to a report by the American Bankruptcy Institute. (WC)Australia clamps down on gamblingA ban on greyhound...

A rebound in resources stocks is helping to recover some of the previous session's losses with the FTSE 100 up 0.61% at 6128.73 this morning.Online second hand car marketplace Auto Trader (AUTO) is down 1.7% to 384.7p as directors and management sell shares following the expiry of their lock-up period post the company's IPO. Between them chief executive Trevor Mather and finance director Sean...

UK equities continue yesterday's rally away from three-year lows as a plethora of resources, retail and financials press ahead in early deals. There's also better news from China as the world's second biggest economy shows a trade surplus widening to 382.05 billion yuan in December from 343.10 billion in November, beating analysts' forecasts of 338.80 billion yuan.Exports rose unexpectedly by...

As we write crude oil prices remain highly volatile. Despite a big bounce in the last week prices are some way below the highs of recent years. A surfeit of supply and question marks over demand as global stocks see-saw on China-inspired panic the contributing factors. This is reflected in the performance of the FTSE All Share Oil & Gas sector which has fallen 21.9% year-to-date.Thereby...

UK stocks rally strongly in early trade on Tuesday bolstered by optimism surrounding Greece's proposed debt plan, while rising commodity prices give resource shares a boost. The benchmark FTSE 100 index shoots 82 points higher, or 1.2%, to 6,865, with oil and mining sectors leading the charge.The new government in Greece is hoping to push through a debt swaps deal in exchange for a new wave of...

UK stocks make solid gains in early deals Thursday, matching the strong progress of Wall Street overnight after the Federal Reserve calmed nerves over monetary policy tightening. The benchmark FTSE 100 index is trading roughly 50 points higher, or 0.7%, at 6,389, its third straight trading session of gains, easing investors concerns after the recent sell-off on falling oil prices and other...

London's FTSE 100 stays weak, reversing 45.68 points to 6,286.15 following yesterday's rebound, as volatility in global markets continues. One standout blue chip performer is Dixons Carphone (DC.), which sparks up 3.7% to 442.5p as better-than-expected maiden figures following the summer merger of Carphone Warehouse and PC World-to-Currys owner Dixons Retail drives upgrades.Excluding merger...

UK stocks snap a five-day winning streak on Wednesday that had sparked the FTSE 100 to a six-week high, as investors turn cautious over a swathe of corporate earnings and await the Bank of England's (BoE) Inflation Report. News of massive fines across the UK banking sector also drag on the Footsie. The benchmark FTSE 100 index drifts 26 points lower to 6,601, having closed at 6,627.4 on...

UK markets continue to slide on Tuesday as gains across the mining sector are offset by gloomy corporate newsflow, led by upmarket fashion brands Burberry (BRBY) and Mulberry (MUL:AIM), and from recruiter Michael Page (MPI). The benchmark FTSE 100 index loses 30 points in early trading, down to 6,337, testing 2014 lows.Fashion brand Burberry slides 5% to £14.05 as chief executive Christopher...

Bombed-out grocer Morrisons (MRW) is marked up 3.75p (2.1%) to 180.35p on relief its interim results statement contains no further nasty surprises. The UK's fourth biggest supermarket chain confirms full-year guidance of a slump in taxable profits to between £325 million and £375 million after unveiling poor first-half figures. These show a 7.4% decline in like-for-like sales amid the UK...

A decline in like-for-like sales at fashion retailer Supergroup (SGP) is nowhere near as bad as feared in the first quarter, helping the stock to lead the FTSE All-Share leaderboard with a 10% jump to £11.51. The update reveals another quarter of double-digit sales growth across retail and wholesale and flags ongoing internationalisation of the Superdry brand.Insurer and wealth manager...

Turnaround stories are highly desired by investors with an appetite for risk. Get your timing right and stocks can soar in value once the market realises problems have been fixed. Because the stock market is forward looking, prices can start to re-rate ahead of a company confirming its recovery is in full swing. But that doesn't necessarily mean you've missed the boat. The challenge is...

UK drug giant AstraZeneca (AZN) drops 13.9% to £41.49 on the company rejectinga third and final £55 a share bid from Pfizer (PFE:NYSE). This latest offer values the Cambridge-based company at £69 billion. The US outfit cannot make another bid for at least six months.Centaur Media (CAU) falls 7.5% to 65p after a weak trading update raises risks over its earnings forecasts. We take a closer...

Tanzania-focussed oil firm Aminex (AEX:AIM) could be poised for a turnaround in its fortunes as fresh funds provide a route to maiden production in 2015 and prompt a better understanding of the potential of its assets in the highly prospective Ruvuma basin.The group plans to raise £10 million through a placing and open offer (30 Jan) although the transaction still requires the approval of...

Alight on Acal marginInvestors will hope for comment on a recovery in profit margins when Acal (ACL) issues a trading update tomorrow (7 Feb). The distributor has sold non-core operations and focused on higher-margin electronics. Positive economic figures on manufacturing in the UK and Europe suggest a favourable market backdrop. (DC)Aim high with AminexEast African oil play Aminex's (AEX:AIM)...

Among the London market's main risers on Wednesday is Barclays (BARC), which is buoyed 3.6% to 275.7p as it reports a £2.8 billion statutory taxable profit for the nine months to 30 September, up from £962 million a year ago. The bank, which says it will review how its currency trading operated over recent years, has decided against increasing its compensation pot for mis-selling payment...

Bovis Homes (BVS) rises 3.4% to 805p after lifting half-year pre-tax profit by 19% to £18.6 million and raising the dividend by a third. Average sales prices increased by 15% to £188,500, ahead of the group's expectations.Oil services group Kentz (KENZ) is now in play after receiving two separate takeover approaches, sending its shares up 25% to 595p. Both Amec (AMEC) and M&W have expressed...

Growth in online shopping is helping to boost profits at UK Mail (UKM). The delivery group jumped 10.9% to 510p after reporting a 37% rise in pre-tax profit to £17.8 million. The market also liked news that UK Mail would invest in 'significantly increased automation' across its network as this should be a strong driver for volume growth and improved profit margins.Shares in soft drinks...

London's blue-chip benchmark, which has had a storming start to 2013, was off 5.9 points at 6,717.2 by lunchtime on Monday, a session in which bus and train operator FirstGroup (FGP) proved one of the market heaviest fallers.Shares in the Aberdeen-based transport group shed 20% to 179p after it announced proposals for a £615 million rights issue at a hefty discount in a bid to reduce its...