London open: FTSE edges higher on latest Greek reports, ahead of US retail sales
11th Jun 2015 08:23
UK stocks were little changed in early trade, but were seen moving marginally higher after initial losses. The FTSE 100 had inched five points higher to 6,835.39 by 09:00. With little out in the way of European data, investors will likely be paying close attention to the situation with Greece follo
Read moreLondon pre-open: Greece continues to be in focus, US retail sales on agenda
11th Jun 2015 07:30
London's blue chips are expected to ignore strong gains seen in the US and Asia overnight, as investors await further details of reports that Germany is weighing up a pay-per-reform deal with Greece. City sources expect the FTSE 100 will start the day around 11 points lower than Wednesday's close of
Read morePetrofac awarded four-and-half-year deal worth $900m
11th Jun 2015 07:17
Oil and gas industry services provider Petrofac has landed a four-and-a-half year contract with Petroleum Development Oman (PDO) to provide services for its Yibal Khuff project. The total contract value is expected to be around $900m, with around one-quarter of the revenues relating to professional
Read moreFTSE 250 movers: Vedanta surges on takeover hints, Pets at Home lower on stake cut
9th Jun 2015 13:17
Mid caps were trading in the red on Tuesday, as construction, insurance and technology stocks put in weak performances. As of 15:00 BST, the FTSE 250 was trading 0.2% lower at 17,842.09. Vedanta Resources topped the risers as the company's response to media speculation that it could merge its subsi
Read moreLondon midday: Bond jitters weigh on stocks
4th Jun 2015 11:54
UK stocks edged lower following recent volatility in sovereign debt markets and amid mixed reports on the progress made at a meeting between Greek Prime Minister Alexis Tsipras and the head of the European Commission, Jean Claude Juncker. As of 12:21 the FTSE 100 was lower by 95.23 points to 6,855.2
Read moreLondon open: European bond yields keep rising, stocks down
4th Jun 2015 08:48
Stocks began the morning moving lower amid mixed reports regarding the progress made at a meeting between Greek Prime Minister Alexis Tsipras and the head of the European Commission, Jean Claude Juncker. As of 08:55 the FTSE 100 was lower by 87.36 points to 6,863.10. A large drop in Chinese stocks
Read morePetrofac renews revolving credit facilities on almost same terms
4th Jun 2015 08:12
Petrofac successfully extended and amended a syndicated revolving five-year credit facility. The size of the funding facility was maintained by lenders at $1.2bn and would run to 2020, with the oil explorer being granted the option to extend it twice, for an additional year each time - if its credit
Read moreSector Movers: Oil, retail stocks plus chatter on Vodafone inches London market higher
21st May 2015 15:58
Oil and gas, petrochemicals and retail stocks drove the FTSE 100 higher on Thursday as chatter about Vodafone's rumoured tie-up with Liberty Global went into overdrive. At the close of trading, the blue chip index came in at 7,013.47 points up 0.09% as Vodafone shares continued to advance on specula
Read moreFriday broker round-up
8th May 2015 10:42
IMI: JP Morgan reiterates overweight. ITV: Westhouse Securities reiterates add and 288p target. Aviva: Canaccord Genuity reiterates buy and 600p target. Randgold Resources: Credit Suisse reiterates neutral and 5,050p target. UBS stays at buy with 5,600p target. Provident Financial: Canaccord Genu
Read moreS&P downgrades Petrofac's debt rating after profit warning
22nd Apr 2015 17:30
Ratings agency Standard and Poor's downgraded its rating on Petrofac's long-term debt in light of the company's latest announcement of cost overruns. On 21 April the oil field services firm warned that it would book an additional £130m provision on its Laggan-Tormore project in the Shetlands as a re
Read moreFTSE 250 movers: IPF surges after dodging fine, property stocks higher
21st Apr 2015 13:46
International Personal Finance (IPF) was boosted as the home-credit group escaped a fine from Poland's consumer protection authority. After an investigation into fee structures, the Polish Office of Consumer Protection and Competition agreed to waive the fine if IPF's Provident Polska implement a ne
Read moreTuesday broker round-up
21st Apr 2015 13:18
Tullow Oil: Deutsche Bank reiterates hold and keeps target price at 370p. Tesco: Citi reiterates neutral and 235 target price. BHP Billiton: Barclays reiterates overweight and lifts target to 3,500p from 3,300p. Rio Tinto: Barclays downgrades to equalweight and lower target to 2,850p from 3,350p.
Read moreLondon close: Chinese stimulus lifts stocks despite ongoing Greek uncertainty
20th Apr 2015 16:35
Stocks rebounded on Monday after as measures by policymakers in China to boost bank lending helped to repair sentiment after recent losses, despite ongoing uncertainty in Greece. London's FTSE 100 finished the session 0.82% higher at 7,052.13, with mining stocks leading the rise on increased hopes f
Read moreFTSE 250 movers: Petrofac hit by gas plant losses, Victrex lifted by upgrade
20th Apr 2015 13:51
Oilfield services outfit Petrofac dropped after saying it expects to recognise a further loss of $195m in 2015 for the Laggan-Tormore gas plant project on Shetland. The company, which had already recognised a $230m loss on the project in 2014, told investors earlier this year that it did not foresee
Read moreLondon midday: Chinese stimulus boosts miners, IHG gains
20th Apr 2015 11:26
Stimulus measures to spur bank lending in China gave UK stock markets a boost on Monday morning, with mining shares leading the charge after a sell-off the previous session. London's FTSE 100 was up 0.7% at 7,041.74 by midday, pulling back after hitting a high of 7,067.84 early on. The index droppe
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