London close: Rising travel and retail stocks offset losses from energy sector
28th Nov 2014 16:26
A slight recovery in oil prices wasn't enough to ease the pressure on the energy sector on Friday, though stocks in London erased losses by the end of trade as shares in the travel and retail sectors jumped. "Clearly firms with a focus on consumer spending will be indirect beneficiaries of increase
Read moreSector movers: Oil services bear the brunt of OPEC decision as outlook sours
28th Nov 2014 14:03
Oil-related stocks were continuing to feel the impact from a recent plunge in crude prices on Friday, though companies in the energy-services sector were bearing the brunt of the selling pressure. The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to scale back their pr
Read moreLondon midday: Crude stabilises but oil stocks continue to slide
28th Nov 2014 11:43
The UK stock market dropped on Friday as shares in the energy sector dropped after the recent slump in crude on concerns about a global oversupply of oil. Oil producers and energy services stocks were extending losses made the previous session with crude prices set to register their steepest weekly
Read moreLondon open: FTSE 100 falls as energy stocks extend losses after OPEC meeting
28th Nov 2014 08:41
Despite already having plunged the previous session, stocks in the energy sector were under further selling pressure on Friday in the aftermath of the OPEC meeting, pushing the FTSE 100 firmly into the red. The Organization of Petroleum Exporting Countries decided on Thursday not to scale back their
Read moreSector movers: Oil stocks tank as OPEC reportedly maintains target, crude extends losses
27th Nov 2014 14:36
Concerns about falling oil prices hammered stocks in the energy sector on Thursday, with shares extending losses on reports that the Organization of Petroleum Exporting Countries (OEPC) has held off from scaling back production at its meeting in Vienna. Brent futures for January delivery were down 3
Read moreLondon midday: FTSE flat as energy shares slump ahead of OPEC meeting
27th Nov 2014 11:33
Heavy falls in the energy sector kept a lid on gains for the FTSE 100 on Thursday as investors awaited the outcome of a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna. London's benchmark index was up just 0.06% at 6,733 by midday. The index has traded broadly s
Read moreLondon open: Investors await pivotal OPEC meeting, Brent drops
27th Nov 2014 09:12
The UK stock market opened flat on Thursday as investors awaited a jam-packed day full of economic data, policymaker speeches and a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC). London's FTSE 100 index was down 0.1% at 6,722 in early deals. While US markets will be cl
Read moreLondon midday: UK stocks rise but gains limited by Kingfisher, resource stocks
25th Nov 2014 11:31
UK stocks edged higher on Tuesday, though gains were being limited by falls in the heavyweight resources sector and a drop in the share price of DIY retailer Kingfisher. The FTSE 100 trading 0.1% higher at 6,737 by midday, though was underperforming stocks across Europe with the STOXX Europe 600 ind
Read morePetrofac hit by Credit Suisse downgrade after profit warning
25th Nov 2014 09:22
Credit Suisse has cut its recommendation on Petrofac from 'outperform' to 'neutral' in the aftermath of a profit warning from the oilfield services group that sent shares tumbling on Monday. Petrofac said that 2014 net profit would come in at the lower end of the guided $580m-600m range and fall to
Read moreLondon open: Oil and mining stocks limit gains on FTSE
25th Nov 2014 08:22
Falling oil and mining stocks and a poorly-received update from Kingfisher were limiting gains on the FTSE 100 on Tuesday morning, as investors awaited a wave of global economic data. London's benchmark index was trading just 0.1% higher at 6,737 within the opening hour. The Footsie had dropped 0.3
Read moreTuesday tips round-up: Petrofac, Miners
25th Nov 2014 07:12
As an investment alternative Petrofac is fit for purpose, if you're a gambler of course. Yes, there is the decline in the oil price to contend with, but the root of the problem lies in its energy services division, which was supposed to be the engine for growth. An integral part of its business mode
Read moreLondon close: UK stocks retreat from two-month high as Petrofac, miners fall
24th Nov 2014 16:23
A wave of M&A news failed to give UK markets a boost on Monday as investors took profits after stocks hit their highest in two months the previous session. The FTSE 100 finished 0.3% lower at 6,730 with a massive drop in the share price of oilfield services firm Petrofac and weakness in the mining s
Read moreFTSE 100 movers: Petrofac shares slide on profit warning
24th Nov 2014 16:05
Petrofac's share price dropped by a quarter after the group scaled back its profit assumptions, saying that depressed oil prices and the timing of deliveries will result in a weaker bottom line. The company said net profits for 2014 will be at the lower end of the guided $580m-600m range, but would
Read moreSector movers: Petrofac profit warning sinks oil services stocks, OPEC meeting eyed
24th Nov 2014 15:11
A profit warning from blue-chip oilfield services group Petrofac rattled the oil services, equipment and distribution sector in London on Monday, with stocks falling by an average 10%. There was nervousness ahead of a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC) on Thu
Read moreLondon midday: UK stocks treading water after recent gains, Petrofac shares tank
24th Nov 2014 11:32
After finishing the previous session at a two-month high, UK stocks were treading water on Monday as investors paused for breath. The FTSE 100 was down just six points, or 0.09%, at 6,744.94 by midday, with Petrofac providing a drag on the blue-chip index after a profit warning. Shares in the oilfie
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