London pre-open: Small retreat expected after Tuesday's record highs
25th Feb 2015 07:49
UK markets were expected to pull back slightly on Wednesday as investors tread cautiously following the new all-time highs reached the previous session. City sources predict the FTSE 100 will open around eight points lower than Tuesday's record close of 6,949.63. The index also reached a new intrada
Read morePetrofac profits beat forecasts, sees recovery in oil prices
25th Feb 2015 07:04
Oil field services outfit Petrofac delivered 2014 full-year profits at the bottom end of previous guidance, although it lowered its profit forecasts for 2015 exclusively as a result of the lower oil price. Full-year 2014 revenues dipped to $6.2bn from $6.3bn in the year before. Analysts had anticipa
Read moreSector movers: Oil stocks track crude prices lower ahead of stockpile data
19th Feb 2015 15:41
Oil producers and energy services stocks were hit on Thursday by a tumble in the price of crude on the back of speculation that US government data will show that oil stockpiles rose to a record high last week. Industry group, The American Petroleum Institute, said on Wednesday that stockpiles of cru
Read morePanmure Gordon picks out "most vulnerable" UK dividends
18th Feb 2015 13:27
Panmure Gordon has warned of "storm clouds on the horizon" for income investors as corporate payouts reach "unsustainable" levels and has picked out several FTSE 350 companies where dividends appear particularly vulnerable. Although the UK economy has begun 2015 in rude health, the broker pointed ou
Read moreLondon open: Stocks unchanged ahead of Eurozone CPI, US GDP
30th Jan 2015 08:27
UK stocks opened more or less flat on Friday as investors treaded cautiously ahead of some key economic data, including consumer price figures in the Eurozone and growth estimates in the States. London's FTSE 100 was down just 0.04% at 6,808 early on. The release of the Eurozone consumer-price inde
Read moreFTSE 250 movers: Kaz Minerals surges after hitting annual targets, energy stocks fall
29th Jan 2015 15:20
Kaz Minerals topped the risers after revealing it met its annual production target for 2014 with an output of 83,500 tonnes. Kaz's new gold and copper mine at Bozymchak, Kazakhstan, made its first shipment of concentrate at the end of 2014. Dairy Crest was also trading higher after signing a thre
Read moreFTSE 250 movers: William Hill rises after beating forecasts, Afren damaged by T5 rebuttal
20th Jan 2015 13:58
Full year results from William Hill boosted share prices, as the bookmarker jumped ahead of forecasts despite falling at a fourth quarter hurdle, as football and horse racing results favoured punters. The group was forced to officially distribute the figures at 20:00 on Monday after they were accide
Read morePetrofac wins first phase of $4bn Kuwait Oil Company contract
20th Jan 2015 09:35
Oil and gas services group Petrofac has won a $4bn project for Kuwait's state oil company, having received an award notification for the first phase of the Lower Fars heavy oil development programme in the north of the country. Part of the Kuwaiti state oil company, Kuwait Oil Company (KOC) has enga
Read moreSunday newspaper round-up: Enquest, Britain's economy, Bank of England
18th Jan 2015 19:00
EnQuest is cutting spending, jobs and pay in an effort to avoid breaking the terms of its bank loans, the Sunday Times reported. The biggest independent UK North Sea oil producer's shares have fallen 80% since last summer as the price of crude oil collapsed. Investors took fright because of the comp
Read moreSector movers: Oil services hit by crude-price fall, analyst comments
9th Jan 2015 15:36
Oil equipment, services and distribution stocks were trading in the red on Friday as crude prices declined and comments from Morgan Stanley weighed on sentiment. The recent collapse in oil has hammered shares across the energy services sector over the last few months as exploration and production fi
Read moreBroker tips: Supermarkets, Oil services, Sky, Premier Foods
6th Jan 2015 12:23
After one of the worst years in living memory for investors and management in the British supermarket sector, broker Shore Capital expects expect 2015 to be another "very active and interesting" year, though the sector's nadir "may have been reached". "Given the collapse of profits over the last 12-
Read moreUBS says oil services profits at risk after crude collapse
6th Jan 2015 10:17
The outlook for the European oil and gas sector in 2015 is "not encouraging", according to UBS which cut target prices for a number of energy services stocks on Tuesday. Brent crude prices almost halved over 2014 and are currently trading at around $51-52 a barrel (bbl), a level not seen since May 2
Read moreLondon close: Santa Rally continues as UK stocks rise for sixth straight day
23rd Dec 2014 16:51
UK stocks rose again on Tuesday as the Santa Rally continued into its sixth straight day, with markets boosted by some upbeat economic data from the States. Third-quarter US annualised gross domestic product (GDP) growth was revised to 5% from an initial estimate of 3.9%, representing the strongest
Read moreLondon midday: Stocks rise but gains pared after UK GDP data
23rd Dec 2014 11:56
UK stocks rose again on Tuesday as the pre-Christmas rally continued, though gains were trimmed by lunchtime after some disappointing data. On a day lacking of corporate news, investors were also showing caution ahead of a flurry of economic indicators Stateside. Stock futures on Wall Street were on
Read moreFTSE 250 movers: Food retailers take a hit while energy stocks soar
23rd Dec 2014 09:41
Retail stocks were mixed on the day before Christmas Eve. Home Retail Group, N Brown Group and Supergroup were advancing as last-minute shoppers headed online and hit the high street. Shares in Workspace Group were rising after the company agreed a cash payment of £30m to terminate the proceeds sha
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