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Morning news wrap: United Utilities, Tullow Oil, Morrison Supermarkets, London Stock Exchange

United Utilities (LSE: UU) said that its subsidiary United Utilities Water has decided to accept the final determination of price limits for the period 1 April 2010 to 31 March 2015, which was laid out by Ofwat in November 2009.

Tullow Oil (LSE: TLW) said that its Tweneboa-2 exploratory appraisal well has intersected a significant combined hydrocarbon column.

Morrison Supermarkets (LSE: MRW) said sales in the 6 weeks to 3 January rose 11.2% excluding fuel.

London Stock Exchange Group (LSE: LSE) reported revenues of £154.9 million for Q3, which is 9% lower than in the equivalent period of the previous year.

In AIM, Atlantic Coal (AIM: ATC) has reached a settlement terminating its supply agreement with Pagnotti Enterprises, which is expected to save it US$10 million.

Latin American precious metal miner Minera IRL (AIM: MIRL) reported a total gold production of 33,012 ounces for 2009 at a cash cost of US$341 per ounce. Gold production in Q4 amounted to 10,259 ounces, exceeding budget by 18%, while quarterly cash operating costs were US$248 per ounce, which was 23% below budget. Gold sales for the quarter averaged US$1,107 per ounce.

Planet Payment (AIM: PPT) said total revenue for full year 2009 rose 30% to over US$47 million.

Philippines focused gold producer Medusa Mining (AIM&ASX: MML) reported a record gold production of 21,108 ounces compared to 18,054 ounces in the previous quarter at an average grade of 18.68 g/t (grammes per tonne) gold at an average cost of US$184 per ounce.

Gulfsands Petroleum (AIM: GPX), an oil and gas company with assets in Iraq, Syria and Gulf of Mexico, said its Khurbet East-14 delineation well intersected an oil column.

www.proactiveinvestors.co.uk/companies/news/12440/morning-news-wrap-united-utilities-tullow-oil-morrison-supermarkets-london-stock-exchange-12440.html



Disclosure: The author holds no positions in the company