London open: Mining stocks lift FTSE on PBoC stimulus
20th Apr 2015 09:07
UK stocks rose strongly on Monday morning as markets rebounded after a heavy sell-off the previous session, as sentiment recovered over the weekend following stimulus measures in China. "The markets were buoyed this morning by the news that China's central bank has taken fresh, if tentative, steps i
Read moreLondon pre-open: Stocks to rebound after Chinese stimulus
20th Apr 2015 07:51
UK stocks are expected to rebound slightly on Monday morning after heavy losses the previous session, amid stimulus measures and increased uncertainty in Greece. City sources predict the FTSE 100 will open 24 points higher than Friday's close of 6,994.63. Friday's close below 7,000 was the index's
Read morePetrofac hit by further £130m loss on Shetland gas project
20th Apr 2015 07:36
Oilfield services outfit Petrofac has said it expects to recognise a further loss of $195m (£130m) in 2015 for the Laggan-Tormore gas plant project on Shetland. The company, which had already recognised a $230m loss on the project with client Total in 2014, told investors earlier this year that it d
Read moreSector Movers: Mining, oil stocks recover from pre-Easter slump
7th Apr 2015 12:51
Natural resources shares led the London market with mining companies reversing pre-Easter declines in the first day of trading after the festive period. At 15:55 BST on Tuesday, the FTSE 100 was trading up 1.93% or 131.79 points at 6965.25. Mining companies lifted the market, being among the best pe
Read moreFTSE 250 movers: Mitie dips on profit warning, Serco higher on railway sale
31st Mar 2015 13:22
Outsourcing services group Mitie fell after warning that it expects full-year profits to be pushed slightly lower than forecast by margin pressures in the homecare and social housing businesses. Petrofac was in the red following a downgrade from Canaccord Genuity who dropped their rating from 'buy'
Read moreBroker tips: Kingfisher, Antofagasta, Meggitt, Petrofac
31st Mar 2015 11:40
Analysts were largely very impressed by the strategic vision nailed to the wall by Kingfisher's new chief executive Véronique Laury as she lifted the lid on some less impressive full-year numbers. Brewin Dolphin's Nicla Di Palma said the new strategy makes sense, with the new focus on capital discip
Read morePetrofac now "up with events", as Canaccord downgrades to 'hold'
31st Mar 2015 11:30
Canaccord Genuity has cut its rating for oilfield services group Petrofac from 'buy' to 'hold' after an "impressive run" in the stock over recent months. The broker acknowledged that Petrofac's results in February were well-received by the market "and importantly management has been clear that it is
Read moreFTSE 250 movers: Centamin surges on strong dividend, energy stocks higher
23rd Mar 2015 12:52
Profits at gold miner Centamin more than halved in 2014, as higher production was offset by increased output costs and lower commodity prices, yet the stock surged after the company's maiden dividend smashed analysts' expectations on the back of stronger cash generation. Other miners were also tradi
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: Tax break hopes drive energy stocks higher ahead of UK Budget
17th Mar 2015 14:42
Hopes about tax breaks in the North Sea energy industry were providing stocks in the oil producing and services industry with a much-needed boost on Tuesday, even as the price of crude continued to tumble. Danny Alexander, chief secretary to the Treasury, signalled that North Sea oil and gas produce
Read moreSector movers: Oil stocks drops as IEA warns of further crude declines
13th Mar 2015 15:51
A fall in oil prices was hitting shares in the energy sector on Friday after the International Energy Agency (IEA) warned that crude may have further to fall. In its monthly report, the Paris-based institution said that the partial rebound that occurred at the start of the year seems to have paused
Read moreSector movers: Energy stocks hammered as crude falls, risk appetite declines
10th Mar 2015 15:22
Every sector on London's stock market was either flat or trading in the red on Tuesday afternoon, with energy stocks bearing the brunt of the sell-off as risk appetite collapsed. "Rising share prices are few and far between on the FTSE 100 this afternoon, thanks to a heady cocktail of worries that h
Read moreUK mining and energy stocks slump on rising USD and declining commodity prices
10th Mar 2015 11:45
Mining and energy stocks slumped on the FTSE 100 index in London on Tuesday as commodity prices continued to erode on the back of a strengthening US dollar and persistent concerns over the health of the Chinese economy. Midday in London, shares in mining stocks slumped with Kaz Minerals down 4.9%, B
Read morePetrofac CFO buys shares following better-than-expected interim results
27th Feb 2015 15:52
Petrofac's financial officer increased his stake in the group two days after the oilfield services group released a good set of full-year results. Tim Weller bought 20,000 new shares for at 874p each, spending a total of £174,800 in the transaction. Weller now holds 97,146 shares, which represent 0
Read moreFTSE 250 movers: Petrofac beats analysts' expectations, AO World and Supergroup drop
25th Feb 2015 14:21
Petrofac topped the risers as profits came in above analysts' expectations, albeit towards the bottom of the company's own guidance. Chief executive Ayman Asfari said the company was well positioned to deal with the oil industry's declining prices, as the group ended the year with a record-breaking
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