Broker tips: Petrofac, M&S, Travis Perkins
17th Oct 2014 12:44
Liberum has maintained its cautious stance for oilfield services group Petrofac, but said that the company's third-quarter update on Friday should reassure investors. The broker reiterated its 'hold' rating and 1,112p target price for the stock. However, it said: "The market generally expected Petro
Read moreLondon midday: Oil stocks boost markets as sentiment recovers, Rolls-Royce drops
17th Oct 2014 11:41
UK stocks staged a partial recovery on Friday following a turnaround in sentiment on Wall Street, with oil producers leading the upside after a bounce in oil prices from their recent lows. The FTSE 100 was up 0.8% at 6,245 by midday. On the face of it, a 0.8% gain on the FTSE 100 would otherwise be
Read moreLiberum reassured by Petrofac update, but stays on the fence
17th Oct 2014 10:24
Liberum has maintained its cautious stance for oilfield services group Petrofac, but said that the company's third-quarter update on Friday should reassure investors. Petrofac said it is on track to hit its net profit target of $580m-600m this year, though this remains down on $650m in 2013 after a
Read moreLondon open: UK stocks attempt to rebound after recent falls
17th Oct 2014 08:25
UK stock markets recovered slightly on Friday morning as investors looked for bargains in the aftermath of recent volatility, which sent equities to a 16-month low the previous session London's FTSE 100 index was up 0.7% at 6,242 in early deals. Rolls-Royce and Travis Perkins were both trading in th
Read moreLondon pre-open: UK stocks to open lower ahead of central bank speeches
17th Oct 2014 07:40
Thanks to a weak performance from Japan and a mixed picture in the US overnight, London-listed stocks are expected to move lower once again at Friday's opening bell. City sources predict the FTSE 100 will open around 10 points below Thursday's close of 6,195.91. US stocks rebounded on Thursday on b
Read morePetrofac retains profit guidance after steady third quarter
17th Oct 2014 07:03
Oilfield services group Petrofac said it is on track to hit profit targets this year, as its backlog improved over the third quarter and net debt reduced. The group's backlog expanded to $21.2bn by 30 September, up from $20.3bn at 30 June, helped by growth in the Engineering, Construction, Operation
Read moreSector movers: Cyclicals slump, defensives rise as risk appetite wanes
10th Oct 2014 14:06
Cyclical sectors such as mining and oil services were bearing the brunt of the market sell-off on Friday as fears about a global economic slowdown prompted investors to scale back risk appetite. Mining heavyweights such as Antofagasta, Glencore, Fresnillo and BHP Billiton were all under pressure as
Read moreFTSE 100 movers: Oil giants sit at opposite ends of footsie
8th Oct 2014 15:39
Oil stocks Petrofac and Tullow were at polar ends of the FTSE on Wednesday. ITV climbed after Credit Suisse said the broadcaster might return cash to shareholders and rated the stock 'outperform' with a target price of 270p. Aerospace and automotive group GKN was in the red after Bank of America Me
Read moreLondon close: Ebola and economic woes hit stocks
7th Oct 2014 16:22
London shares were on their sickbed on Tuesday as investors fretted about the Ebola virus and disappointing economic data, although takeover activity buoyed miners. The FTSE 100 Index closed 68.07 points adrift at 6495.58 as a fresh case of Ebola in Spain hit shares in airlines and travel compani
Read moreTuesday broker round-up UPDATE
7th Oct 2014 09:45
African Minerals: Canaccord Genuity lowers target price from 20p to 15p with a hold recommendation. Aggreko: Exane initiates with a target price of 1500p and an underperform rating. Amec: Liberum Capital cuts target price from 1035p to 908p staying with its sell recommendation. Antofagasta: Canacc
Read moreFTSE 100 movers: BG Group climbs after receiving windfall of $350m
6th Oct 2014 14:51
Gas explorer BG Group climbed on the news it has received a windfall of $350m from Egypt as part of a government drive to pay outstanding debts to the energy industry. BG said the payment resulted from Cairo raising funds specifically to help repay debts to the oil and gas sector. Tesco cheered with
Read moreSector movers: Basic resource shares slide on dollar strength
6th Oct 2014 13:53
Oil and basic resource stocks bore the brunt of selling on Thursday, as markets continued to react to the better-than-expected economic data trickling in from the States with the concomitant robustness in the US dollar which that entails. US durable goods orders declined 18.2% in August following a
Read moreLondon close: FTSE ends little changed after turbulent day
29th Sep 2014 17:01
After sliding early on, the FTSE surfed some choppy waves before climbing in the final two hours of trade to end little changed, down just 2.79 points at 6,646.60. "Stocks suffered another setback today with investors concerned over the uncertainty and possible repercussions of demonstrations in Hon
Read moreBroker tips: Pearson, Balfour Beatty, Petrofac
29th Sep 2014 16:27
Publishing group Pearson has its long-term attractions but faces immediate trading and execution risks, with the resulting trade-off more than reflected in its current valuation, Westhouse Securities believes. Hence, the current share price offers a profit-taking opportunity when compared to these a
Read moreCredit Suisse ups Petrofac to 'outperform'
29th Sep 2014 10:19
Shares of oilfield services firm Petrofac have been de-rated too far while the outlook is still robust, even when accommodation is made for some of the company's weaknesses. The stock is now at a four-year low, near 1,000p, and trading on 8.2 times' the estimated 2015 price-to-earnings multiple. Tha
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