London pre-open: Stocks to start higher after Fed's Yellen
25th Sep 2015 07:45
(ShareCast News) - Stocks will start the day higher after Fed chair Janet Yellen indicated overnight the US central bank was keeping all options on the table as regards a first hike in interest rates this year. "Most of my colleagues and I anticipate that it will likely be appropriate to raise the t
Read moreFranklin appointed to Amec Foster Wheeler board
25th Sep 2015 07:20
(ShareCast News) - Cuadrilla chairman Roy Franklin has been appointed to the board of Amec Foster Wheeler, the consultancy, engineering and project management company said on Friday. Franklin is also currently chairman of Keller Group and deputy chairman of Statoil ASA and is a non-executive directo
Read moreFTSE 250 movers: Oil services stocks gush, Stagecoach hit by living wage warning
15th Sep 2015 16:22
(ShareCast News) - After hitting a six-day low in early trade, the FTSE 250 index closed the session in positive territory on the back of mining and oil & gas sector gains. Vicissitudinous platinum miner Lonmin topped the mid-cap index for the second day as platinum, which is closely linked to the c
Read moreAmec Foster Wheeler gearing up for return to Iran
30th Aug 2015 11:38
(ShareCast News) - Executives at Amec Foster Wheeler, the biggest oil and gas engineer in Britain, have held talks with the foreign secretary Philip Hammond about returning to Iran. The discussions come after the nuclear agreement reached with the Iranian government earlier this year. The deal is a
Read moreAmec Foster Wheeler interim profit drops amid challenging market conditions
27th Aug 2015 07:36
(ShareCast News) - Oil and gas services company Amec Foster Wheeler reported a 12% fall in first-half pre-tax profit amid challenging market conditions, as it said it continues to expect a reduction in trading margins. Interim pre-tax profit fell to £73m from £83m in the same period last year, altho
Read moreAmec selected as supplier for US Air Force in overseas deployments
26th Aug 2015 07:46
(ShareCast News) - Amec Foster Wheeler´s joint-venture with Fluor, Fluor-AMEC II, LLC, has been selected by the US Air Force as one of eight possible suppliers of support and logistical services under its Contract Augmentation Program IV (AFCAP IV) for six years starting 1 October 2015. That means i
Read moreTuesday newspaper round-up: Black Monday, Asia divergence, Apple, Shell-BG deal off?
25th Aug 2015 07:14
(ShareCast News) - A global stock market sell-off and tumbling oil prices have increased fears that some of this year's largest takeover deals are at risk of falling apart - including Royal Dutch Shell's $70bn bid for UK rival BG Group. Over the past week, the gap between the agreed price of several
Read moreAmec gets Abu Dhabi field contract extension
18th Aug 2015 07:35
(ShareCast News) - Engineering firm Amec Foster Wheeler was awarded an extension from Zakum Development Company for its UZ750 project, the company said in a release. Amec did not disclose the financial value of the contract for to redevelop the Upper Zakum field, north-west of Abu Dhabi. It had star
Read moreSector movers: Engineering, oilfield service companies keep London market in the green
23rd Jun 2015 16:32
Industrial engineering and oilfield services stocks kept the London market in positive territory on Tuesday as fears of Greece defaulting on its debt appeared to be receding. At 1545 BST, the blue chip FTSE 100 was trading up 0.34% or 23.22 points at 6,848.890 as the headline Markit/HSBC Chinese man
Read moreDeutsche Bank cuts Amec Foster Wheeler price target; margin risks drive caution
3rd Jun 2015 14:04
Deutsche Bank cut its target on Amec Foster Wheeler to 815p from 830p, noting that its trading update on Tuesday was weak, highlighting further pressure on the top line and margins. "Despite a diversified structure and ability to lean on cost savings Amec Foster Wheeler is not immune to end-market w
Read moreWednesday broker round-up
3rd Jun 2015 08:41
Tesco: JP Morgan retains underweight, lowers price target to 175p from 185p. Amec Foster Wheeler: JP Morgan maintains overweight and 905p target. Bellway: JP Morgan raises target to 2,575p from 1,150p and reiterates overweight. Barratt Developments: JP Morgan lifts target to 650p from 550p and ove
Read moreAmec Foster warns tough conditions will hit scope revenue, trading margin
2nd Jun 2015 07:53
Consultancy and engineering group Amec Foster has admitted it continues to expect the growth seen in the downstream and Middle Eastern oil & gas markets to be offset by tougher conditions elsewhere. The group, which designs and constructs processing facilities for the upstream oil and gas industry,
Read moreExane BNP upgrades AMEC to neutral
28th Apr 2015 10:29
The oil services sector has performed well recently on the back of the sharper-than-expected rebound in oil prices, but more is needed for the sector to achieve a fundamental improvement in its pricing power versus exploration and production customers, analysts at Exane BNP believe. Indeed, companie
Read moreFTSE 250 movers: Tate & Lyle hit by downgrade, energy stocks higher
22nd Apr 2015 13:28
Shares in sugar, sweetener and food ingredients group Tate & Lyle were losing their flavour after analysts at Credit Suisse lowered their rating on the stock from 'neutral' to 'underperform'. Ladbrokes was also trading lower as the bookmaker revealed operating profits were down materially due to cus
Read moreCommodities: Morgan Stanley reiterates attractive stance on Energy sector
21st Apr 2015 09:11
The decision over the weekend by the People´s Bank of China to cut its reserve requirement ratio for large financial institutional by 100 basis points, twice the usual amount, stoked demand for equities, but failed to ignite buying in industrial metals. Three-month copper futures ended the session w
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