FTSE 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 morePetrofac and Tecnicas Reunidas reportedly chosen for $4.7bn Saudi projects
15th Sep 2015 12:26
(ShareCast News) - London-listed Petrofac and Spain's Tecnicas Reunidas have reportedly been chosen for contracts worth as much as $4.7bn to build the Fadhili gas plant in Saudi Arabia for state oil giant Saudi Aramco. Reuters cited an industry source as saying that the companies received a letter o
Read moreFTSE 250 movers: Hunting, Petrofac, Aldermore, OneSavings Bank
27th Aug 2015 15:57
(ShareCast News) - The oil patch was on fire on Thursday as crude futures jumped on both sides of the Atlantic in the wake a much stronger than expected reading on the rate of growth in US gross domestic product. As of 16:30 front month Brent crude futures were up by 6,14% on the ICE at $45.96 per b
Read moreBroker tips: Petrofac, Betfair, WPP
27th Aug 2015 14:11
(ShareCast News) - Petrofac was given a shot in the arm by Societe Generale on Thursday, as the bank upgraded its stance on the stock to 'buy' from 'hold'. "We are taking advantage of yesterday's announcement of Schlumberger's acquisition of Cameron to upgrade Petrofac," it said. "We see the Schlum
Read morePetrofac surges on Societe Generale upgrade
27th Aug 2015 11:21
(ShareCast News) - Petrofac was given a shot in the arm by Societe Generale on Thursday, as the bank upgraded its stance on the stock to 'buy' from 'hold'. "We are taking advantage of yesterday's announcement of Schlumberger's acquisition of Cameron to upgrade Petrofac," it said. "We see the Schlum
Read moreFTSE 250 movers: M&A lights fire under oil equipment stocks
26th Aug 2015 16:46
(ShareCast News) - Shares in Paddy Power and Betfair surged on Wednesday as they announced they have agreed in principle to a possible merger that would create one of the world's largest public online betting and gaming companies by revenue. OneSavings Bank reported a sharp jump in profitability, wi
Read morePetrofac earnings slip 10% but backlog strengthens
25th Aug 2015 07:51
(ShareCast News) - Petrofac's first-half earnings slipped despite strong revenues, leaving City analysts divided on whether the oil engineer's results were a hit or a miss. Despite the havoc in the oil sector, the FTSE 250 company, which provides engineering services across the upstream and downstre
Read moreFTSE 250 movers: Aveva rockets on Schneider takeover, oil stocks lower
20th Jul 2015 14:05
(ShareCast News) - Mid-caps inched higher on Monday as a raft of positive broker sentiment offset tumbling oil and metal prices. As of 14:30 BST, the FTSE 250 was trading 0.32% higher at 17,814. Shares in Aveva were up by more than a quarter after engineering design firm Schneider Electric said it
Read morePetrofac rallies on $780m Kuwait pipeline contract win
10th Jul 2015 07:18
Shares in oil and gas services provider Petrofac rallied after the company said it has been awarded a $780m contract from Kuwait Oil Company for its manifold group trunkline in the north of the country. Petrofac said the lump-sum engineering, procurement and construction project, is integral to KOC'
Read moreLondon close: Markets slip with investors nervous ahead of crucial weekend for Greece
26th Jun 2015 16:28
UK stocks finished firmly lower on Friday as Greece entered crunch time in its debt negotiations with creditors, with officials heading towards a pivotal weekend for Athens and the Eurozone. The FTSE 100 fell 54.12 points (-0.8%) to 6,753.70, with ARM Holdings and a host of mining stocks providing a
Read moreFTSE 250 movers: OneSavings higher on Investec comments, Wood Group hit by downgrade
26th Jun 2015 14:27
Mid caps were in the red on Friday, as gains made by retailer and telecommunications stocks were overshadowed by Greece's looming critical weekend. As of 15:30 BST, the FTSE 250 was trading 0.7% lower at 17,829. OnseSavings Bank led the risers as Investec gave the stock a 'buy' rating and a price t
Read moreBroker tips: GlaxoSmithKline, Astrazeneca, Hikma, Shire, Petrofac, ARM Holdings
26th Jun 2015 11:39
HSBC initiated coverage of the European pharmaceuticals, saying the re-rating over the last few years looks set to continue. In terms of UK stocks, it initiated GlaxoSmithKline at 'buy' with a 1,700p price target, and AstraZeneca and Hikma Pharmaceuticals at 'hold' with 4,640p and 1,936p price targe
Read moreLondon midday: Stocks drop ahead of weekend Greek debt talks
26th Jun 2015 11:28
UK stocks were trading firmly in the red on Friday as investors showed their nerves ahead of a crucial weekend for Greece, as debt talks go down to the wire. The FTSE 100 was trading 0.84% lower at 6,750.63 by midday, with just six constituents trading in positive territory. "Like most of these in-
Read moreFriday broker round-up
26th Jun 2015 10:11
ARM Holdings: Bernstein downgrades to underperform. GlaxoSmithKline: Liberum ups view to hold from sell. HSBC initiates coverage at buy with 1,700p target. AztraZeneca: HSBC initiates coverage at hold with 4,640p target. Qinetiq: UBS downgrades to sell from neutral. Meggitt: UBS raises view to ne
Read moreDeutsche Bank downgrades Petrofac to 'sell'
26th Jun 2015 09:44
Deutsche Bank has lowered its stance on oilfield services group Petrofac from 'hold' to 'sell' and cut its target price from 890p to 875p, suggesting that the recent rise in the stock was "unwarranted optimism". Shares have risen 15% on hopes that Engineering and Construction (E&C) activities are pa
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