Thursday broker round-up
25th Jun 2015 16:55
ARM Holdings: Credit Suisse upgrades to outperform with a target of 1,300p. Admiral Group: Citi downgrades to sell with 1,335p target. Antofagasta: Stifel initiates at hold. Bellway: Jefferies upgrades to buy and raises target to 2,997p from 2,542p. LSE Group: RBS upgrades to outperform. Petrofa
Read moreFTSE 250 movers: Petrofac boosted by upgrade, DS Smith higher on profit growth
25th Jun 2015 13:30
Mid caps inched higher on Thursday, as losses posted by construction, mining and engineering stocks were eclipsed by gains in the technology and real estate sectors. As of 15:00 BST, the FTSE 250 was trading 0.15% higher at 17,950. Petrofac topped the risers after Nomura upgraded the stock to 'buy'
Read moreBroker Tips: Petrofac, Entertainment One, Admiral, Sage, Debenhams, Elementis
25th Jun 2015 10:43
Petrofac shares rose 3.2% on Thursday after Nomura upgraded the stock to 'buy' from 'neutral' and raised the price target to 1,130p from 765p. The broker said the valuation was undemanding in the context of an incrementally positive Middle East outlook and improved risk/reward of Integrated Energy S
Read morePetrofac shares rally on Nomura upgrade to 'buy'
25th Jun 2015 08:25
Petrofac shares rose 3.2% on Thursday after Nomura upgraded the stock to 'buy' from 'neutral' and raised the price target to 1,130p from 765p. It said the valuation was undemanding in the context of an incrementally positive Middle East outlook and improved risk/reward of Integrated Energy Solutions
Read moreWednesday share tips: Petrofac, Ladbrokes
24th Jun 2015 16:03
The latest trading update from oil field services firm Petrofac showed that losses at its North Sea LagganÂTormore project were now estimated to be $50m higher. That resulted from labour unrest with its associated delays and costs and came on top of another $650m in unexpected charges to date. Howev
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 moreFTSE 250 movers: Ladbrokes surges on merger talks, Jimmy Choo hit by legal threat
23rd Jun 2015 13:30
Mid caps were on the up on Tuesday, as weakness in the industrial metals sector was eclipsed by strength in oil, telecommunications and engineering stocks. As of 15:15 BST, the FTSE 250 was trading 0.6% higher at 18,010. Ladbrokes shares jumped after the bookie chain confirmed it was in merger talk
Read moreLondon midday: Broker upgrades and data lift UK stocks as Greek hopes rise
23rd Jun 2015 12:05
Better-than-expected economic data and improving optimism surrounding Greece strengthened stock markets on Tuesday morning, with sentiment also lifted by a raft of broker upgrades. The FTSE 100 was trading 0.25% higher at 6,842.53 by midday with Sports Direct, Smith & Nephew, Johnson Matthey, Diageo
Read moreLondon open: Stocks continue to advance on Greek hopes
23rd Jun 2015 09:08
UK stocks advanced again on Tuesday morning, extending the strong rally seen the previous session as hopes over a short-term funding deal for Greece continued to increase. The FTSE 100 was up 0.18% at 6,837.85 after a 1.7% jump on Monday. Optimism surrounding Athens picked up on Monday following a
Read moreLondon pre-open: Stocks to pause after previous surge, Greece in focus
23rd Jun 2015 07:54
UK stocks are expected to open flat on Tuesday morning after a surge the previous session as investors await further developments on Greece. City sources predict the FTSE 100 will open five points lower than Monday's close of 6,825.67. Hopes over a short-term funding deal for Athens increased on Mo
Read morePetrofac hit by further costs on Shetlands gas project
23rd Jun 2015 07:26
Oilfield services outfit Petrofac has said it mostly performed in line with expectations in the first half, though development of a flagship project in the Shetland Islands will incur further costs. Construction on the Laggan-Tormore project is substantially complete and the company is now in the fi
Read moreLondon pre-open: Weak start expected as Greek fears intensify
19th Jun 2015 07:42
UK stocks are expected to dip slightly on Friday morning as investors react to the latest disappointment in Greek debt talks, after finance ministers failed to come up with cash-for-reforms deal in Luxembourg. City sources predict the FTSE 100 will open six points lower than Thursday's close of 6,70
Read morePetrofac awarded contract renewals worth $400m
19th Jun 2015 07:20
Petrofac's offshore project & operations business unit has won repeat orders for operations and maintenance work worth around $400m on the UK Continental Shelf (UKCS). The largest award will see it provide operations and maintenance teams for CNR International across its North Sea assets for the nex
Read morePetrofac upgraded to 'buy' by UBS
12th Jun 2015 12:51
UBS upgraded Petrofac to 'buy' from 'neutral' and raised the target price to 1,100p from 775p. "The company has delivered sector-leading onshore engineering & construction margins and we believe the order intake outlook is relatively better than other areas of oil services," said the bank. It also
Read moreFTSE 250 movers: Petrofac higher on new contract, miners retreat
11th Jun 2015 13:27
Mid caps were performing well on Thursday afternoon, led by strength in the construction, insurance and technology sectors. As of 1445 BST, the FTSE 250 was trading 0.47% higher at 18,114. Oil and gas industry services provider Petrofac surged after landing a four-and-a-half year contract with Petr
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