Wednesday 22 October 2014

Violence in Africa pushes Tullow shares downwards

Published 09/07/2014 | 02:30

Policemen from Kenya's General Service Unit take cover from stone-throwing youths during an anti-government rally in Nairobi

Shares in Dublin-listed Tullow fell to a three-month low as violence erupted across Kenya and Uganda.

Shares closed down 2.4pc at €10.40 in Dublin while partner exploration companies such as Afren also extended declines.

Tullow has a fifth of its assets in south and east Africa.

Armed assailants attacked a camp of police reservists yesterday and burned down nearby homes and businesses as violence escalated on Kenya's northern coast. But there were no reported deaths.

In the nearby coastal town of Lamu, residents also reported finding leaflets strewn about threatening Christians and the government.

The leaflets were signed by Somalia's al Shabaab Islamists, but the group denied it sent them.

Irish Independent

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