Lamprell reports loss, overhaul announced
28th Aug 2012 07:41
Lamprell, a provider of engineering services to the international oil & gas and renewable industry based in the UAE, reported a half yearly loss and suspended its dividend payment following contract supply delays and a series of contract issues. The oil rig engineer, which has issued a string of pr
Read moreLamprell completes first jack-up rig for NDC
24th Aug 2012 07:48
Energy markets-focused engineer Lamprell has announced the completion of construction and delivery of the Makasib jack-up rig to Abu Dhabi's National Drilling Company (NDC). The rig, which has a contract value of $168m, is the first of a total of six rigs being built for NDC by Lamprell. It wei
Read moreFriday broker round-up -UPDATE
27th Jul 2012 09:54
African Minerals: Goldman Sachs upgrades to buy. AG Barr: Investec reiterates buy recommendation and 485p target; Shore Capital downgrades to hold; N+1 Brewing downgrades to hold. AstraZeneca: Nordea downgrades to sell. Barclays: Investec maintains buy rating and 240p target. BG Group: UBS cuts
Read moreLamprell once again issues profit warning
26th Jul 2012 16:08
Shares in energy markets-focused engineer Lamprell plunged over 30 per cent on Thursday after it announced that as a result of additional costs arising from the delayed deliveries of the Windcarrier 1 and 2 projects, the loss at the half year is expected to be around 45m dollars. In addition, an e
Read moreLamprell scores another contract from Seajacks
17th Jul 2012 08:41
Lamprell, a provider of diversified engineering and contracting services to the onshore and offshore oil and gas and renewables industry, has received a new contract award from Seajacks. The contract, which is valued at $120.9m, is for the design, construction and delivery of a Seajacks modified Gu
Read moreSector movers: Oil services stocks gain on broker comments
3rd Jul 2012 15:40
The oil equipment, services and distribution sector was one of the best performing categories on Tuesday afternoon with Petrofac and AMEC among the stocks providing a lift. Petrofac, which specialises in the design of hydrocarbon processing plants, was up over 1% after Liberum Capital upgraded its
Read moreMonday broker round-up - UPDATE
18th Jun 2012 08:20
Anglo American: UBS cuts target from 3,260p to 3,100p, buy recommendation maintained. Barclays: AlphaValue downgrades from buy to add, target kept at 230.2p; Nomura keeps neutral rating and 268p target. British American Tobacco: Citigroup retains buy rating. Essar Energy: Citigroup initiates cove
Read moreLondon close: All eyes turn to Greece
15th Jun 2012 16:52
London's top-share index peaked at 5,523 shortly after 10:00 and even fell into the red in the afternoon session just after 15:00 before rallying to close with a modest gain. The fast start was prompted by two things, both relating to banks. The first was reports that central banks stand ready to
Read moreFTSE 250 movers: Lamprell rises on news of new Chairman
15th Jun 2012 15:16
Lamprell was a high riser after it moved quickly to replace Jonathan Silver, who announced earlier this month his intention to give up the Chairman role to become Deputy Chairman. The new guv'nor is industry veteran John Kennedy who, until US conglomerate General Electric took it over, was Chairman
Read moreLondon midday: More QE could be on the way
15th Jun 2012 12:12
After a bright start on the back of the initiative announced last night to get British banks lending, equities have moved into consolidation mode ahead of this Sunday's big election in Greece. Meanwhile, the failure of last week's Spanish banking hand-out to put an end to the Eurozone crisis appear
Read moreLondon open: Banks buoyed by BoE initiative
15th Jun 2012 09:23
London's leading shares have opened firmer, encouraged by reports that the world's central banks stand ready to act should financial markets freeze up next week in the wake of Greece's general election on Sunday. Global monetary authorities are ready in the event that liquidity is required to ensur
Read moreLondon pre-open: FTSE to rise on reports of central bank action
15th Jun 2012 07:33
City sources predict the FTSE 100 will open up 28 points from yesterday's close of 5,467, boosted pushed higher by reports that central banks are possibly planning coordinated action if required after this coming weekend's Greek elections. With votes scheduled in Greece, Egypt and France this week
Read moreEx-Wellstream Chairman takes the chair at Lamprell
15th Jun 2012 07:04
Struggling specialist engineering services provider Lamprell has named industry veteran John Kennedy as its new non-executive Chairman. The group moved fast to replace Jonathan Silver after he decided he is too busy to carry on in the role and moved to the position of Deputy Chairman. Kennedy was
Read moreWednesday tips round-up: Lamprell
13th Jun 2012 07:13
Management of oil rig maker Lamprell has lost a large chunk of its credibility. Its record of substantial mis-steps over the past few months has been extraordinary - and very costly for its shareholders. Last week, the company issued its second profit warning in a matter of weeks. This was made wors
Read moreBroker tips: Tesco, Lamprell, Ashtead
11th Jun 2012 11:19
Nomura has reiterated its buy recommendation and 430p target price for supermarket giant Tesco, saying that while still early days, there was 'incremental progress evident' in the group's first-quarter statement. "Although Tesco's recovery to a market rate of growth remains work-in-progress, we bel
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