Amec Foster Wheeler wins power generation contract
21st Apr 2015 08:00
Energy and mining engineering group Amec Foster Wheeler has won a power generation contract for a new power plant in the Philippines. The FTSE 250 company has been tasked with designing and supplying two circulating fluidized-bed (CFB) steam generators for Aboitiz Power´s new power plant. The instal
Read moreFTSE 250 movers: Vesuvius plummets on downgrade, energy stocks higher
15th Apr 2015 13:08
Shares in metal flow engineering group Vesuvius dropped sharply after analysts at JPMorgan lowered their stance on the stock from 'overweight' to 'neutral', citing weak steel production in the US. The price target was lowered to 510p from 531p previously. JD Sports was trading higher after sprinting
Read moreAmec Foster Wheeler secures nine-year deal with EDF
31st Mar 2015 08:08
Oil and gas facilities constructor Amec Foster Wheeler has won a nine-year contract with energy provider EDF Energy. Under the deal, Amec will provide project management services to all of EDF's UK nuclear power stations and technical offices in Gloucester and East Kilbride, near Glasgow. The FTSE
Read moreFriday tips round-up: LSE, Amec FosterWheeler
27th Mar 2015 17:06
The decision by Borse Dubai to get out of its stake in the London Stock Exchange can be put down to profit-taking. The LSE's shares rose 61% since 2007, easily outpacing the 15% rise seen in the FTSE All-Share over that same time frame. Nevertheless, it is always disconcerting to see a major shareho
Read moreAmec Foster Wheeler profit down on falling oil and mining markets
26th Mar 2015 08:11
Consultancy and engineering group Amec Foster Wheeler said the slump in the oil and mining markets weighed on its annual profit. The FTSE 250 group reported a 39.2% decline in pre-tax profit to £155m, while even excluding exceptional items and discontinued operations the metric fell 7.6% to £317m, a
Read moreSector Movers: Real estate and housebuilders in the green, but tobacco takes a hit
19th Mar 2015 14:35
The UK 2015 Budget continues to impact market sentiment as real estate and housebuilding stocks followed oil and gas services companies in posting an uptick in performance. In his final budget before the General Election on May 7, Chancellor George Osborne announced a series of measures considered t
Read moreSector movers: Oil stocks extend gains as Budget confirms North Sea tax breaks
18th Mar 2015 15:07
Confirmation by chancellor George Osborne of budgetary measures to ease the pain in the struggling oil industry gave energy producers and services stocks another big lift on Wednesday. The 2015 Budget, the last of the current parliament, revealed new tax allowances worth £1.3bn in total to stimulate
Read moreSector movers: Oil stocks track crude prices lower ahead of stockpile data
19th Feb 2015 15:41
Oil producers and energy services stocks were hit on Thursday by a tumble in the price of crude on the back of speculation that US government data will show that oil stockpiles rose to a record high last week. Industry group, The American Petroleum Institute, said on Wednesday that stockpiles of cru
Read more"Tough gets tougher" for oil service stocks, says UBS
4th Feb 2015 09:52
UBS has unsurprisingly predicted a weak fourth quarter for oil services companies in its preview of the sector's earnings season, saying it remains negative about the industry "as tough gets tougher". "We remain cautious on services as oil company capex delays and reductions are likely to impact ear
Read moreTuesday newspaper round-up: Sellafield, ECB stimulus, Auto Trader...
13th Jan 2015 06:46
A £9bn contract to clean up the Sellafield nuclear waste is to be torn up, the government is expected to announce, writes The Times. The early termination of the contract awarded to Nuclear Management Partners in 2008, an industrial consortium including Amec Foster Wheeler, comes as the work is take
Read moreSunday share tips: Amec, Tesco, Churchill China
11th Jan 2015 19:47
Sell shares of Amec, Danny Fortson advised in the Sunday Times. A year ago the oil services company paid £2bn in cash and shares for Swiss-listed rival Foster Wheeler. Its other option was to hand cash back to shareholders. Since then the oil price has halved, shale producers have cut spending and R
Read moreSector movers: Oil services hit by crude-price fall, analyst comments
9th Jan 2015 15:36
Oil equipment, services and distribution stocks were trading in the red on Friday as crude prices declined and comments from Morgan Stanley weighed on sentiment. The recent collapse in oil has hammered shares across the energy services sector over the last few months as exploration and production fi
Read moreUBS says oil services profits at risk after crude collapse
6th Jan 2015 10:17
The outlook for the European oil and gas sector in 2015 is "not encouraging", according to UBS which cut target prices for a number of energy services stocks on Tuesday. Brent crude prices almost halved over 2014 and are currently trading at around $51-52 a barrel (bbl), a level not seen since May 2
Read moreBroker tips: Energy services sector, IAG, Serco, Aveva
19th Dec 2014 12:11
Shares in the oil and gas services sector were hammered on Friday by comments from US bank Goldman Sachs which repeated its 'cautious' rating on the European sector in light of the recent collapse in crude prices. Goldman said: "Our analysis suggests that the European majors would need to cut capex
Read moreOil collapse to result in "painful" 2015/16 for energy services, says Goldman
19th Dec 2014 10:50
Shares in the oil and gas service industry took a battering on Friday from comments by US investment bank Goldman Sachs which repeated its 'cautious' rating on the sector's European players in light of the collapse in crude prices. On UK-listed energy services stocks, Goldman kept a 'buy' rating on
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