Petrofac maintains full-year net profit guidance
26th Aug 2014 07:39
Oil and gas explorer Petrofac saw revenues decline to $2.5bn over the six months ended on 30 June. Operating profits on an EBITDA basis were off by 16% to $340m. Engineering, construction, operations and maintenance (ECOM) order intake stood at $7.2bn for the first half, raising the backlog 35% to
Read moreLondon midday: Stocks fall on reports of Russian trucks crossing border
22nd Aug 2014 12:11
- Russian trucks enter Ukraine without persimmon - Investors cautious ahead of Jackson Hole - Petrofac chair steps down, LSE falls - Vodafone gains on AT&T bid hopes techMARK 2,815.11 -0.17% FTSE 100 6,760.20 -0.26% FTSE 250 15,840.73 +0.01% After a subdued start, UK stocks dropped into the red by
Read moreLondon open: Stocks flat as markets await speech from Yellen
22nd Aug 2014 09:13
- Yellen in focus ahead of Jackson Hole speech - Analysts speculate over dovish/hawkish stance - Petrofac chairman to step down, LSE falls - Banks, supermarkets rise techMARK 2,819.73 -0.00% FTSE 100 6,777.60 -0.00% FTSE 250 15,841.09 +0.02% UK stocks were barely changed in early deals on Friday a
Read morePetrofac chairman steps down for "compassionate reasons"
22nd Aug 2014 07:51
Norman Murray, the chairman of three years at oilfield services group Petrofac, announced his resignation from the board on Friday. The company said that he will step down with immediate effect for "compassionate reasons". "It is with tremendous sadness that I step down from the board," Murray sai
Read moreLondon pre-open: Quiet start ahead of Yellen speech
22nd Aug 2014 07:42
Little change is expected on the FTSE on Friday morning, with City sources predicting the FTSE 100 will open around three points lower than yesterday's close of 6,777.66. While gains were seen in both the US and Asia overnight, investors in the UK look set to take a more cautious view in the lead u
Read moreFTSE 100 movers: TUI Travels gains on merger reports
14th Aug 2014 15:43
TUI Travel advanced following reports its majority owner TUI AG is pressing ahead with plans to merge the two companies. Germany-based TUI AG, which owns 55% of TUI Travel, said there was "no plan B" in the event of a failure of the proposed merger with the listed UK business. TUI AG also reporte
Read moreLondon open: Stocks flat on rate speculation ahead of Inflation Report
13th Aug 2014 09:04
- Inflation Report, rate speculation keeps markets cautious - Ukraine crisis in focus as Russian convoy heads to border - Chinese data disappoints, Japanese GDP sinks - Ex-dividend stocks fall techMARK 2,725.51 -0.10% FTSE 100 6,630.77 -0.02% FTSE 250 15,403.28 -0.40% Weak economic data from Asia,
Read morePetrofac wins $500m contract with Malaysia's Petronas
13th Aug 2014 08:27
Oil and gas services group Petrofac has won a contract with Malaysia's state-owned energy company Petronas worth over $500m. The UK-listed firm will provide engineering, procurement, construction and commissioning (EPCC) services for a refinery package in Petronas' Refinery and Petrochemicals Integ
Read moreFTSE 100 movers: Intertek, HSBC lead risers after H1 results
4th Aug 2014 15:27
Product testing, inspection and certification group Intertek saw its share price surge 7% after half-year profits beat estimates despite sales falling short of forecasts. The company said that earnings per share slipped to 61.2p in the first six months of the year, down 1.1% on the year but above th
Read moreFriday broker round-up UPDATE
25th Jul 2014 09:29
African Barrick Gold: Investec places both its target price (prev.: 212p) and its sell recommendation under review. Westhouse Securities ups target price from 250p to 285p upgrading from neutral to add. Barclays: Deutsche Bank cuts target price from 300p to 275p staying with its buy recommendation.
Read moreMonday broker round-up UPDATE
14th Jul 2014 10:11
Abcam: Numis cuts target price from 510p to 490p and stays with its add rating. ARM Holdings: Credit Suisse reduces target price from 1200p to 1125p and maintains an outperform rating. AstraZeneca: Jefferies reduces target price from 4850p to 4790p maintaining a hold recommendation. BP: Credit Su
Read morePetrofac lands contract with Kuwait Oil Company
10th Jul 2014 09:01
Oil and gas services provider Petrofac has been contracted to deliver a project worth around $700m from Kuwait Oil Company (KOC) for the engineering, construction, and commissioning of its gathering centre 29 (GC29) over a three-year period. GC29 is being constructed to support KOC's plans to incre
Read moreLondon close: TUI and housebuilders help FTSE end higher
27th Jun 2014 16:59
- FTSE closes up 22.65 at 6,757.77 - UK consumer confidence at nine-year high - Q1 GDP revised lower techMARK 2,817.88 +0.56% FTSE 100 6,757.77 +0.34% FTSE 250 15,681.46 +0.22% London-listed stocks rose in this afternoon's trading to end higher, lifted by strong consumer confidence data, a long-aw
Read moreFTSE 100 movers: TUI Travel leads the risers after merger deal
27th Jun 2014 16:12
TUI Travel shares jumped after it announced that it had agreed the terms of a merger between itself and parent company TUI AG, a move that will create the world's "number one integrated leisure tourism business". Under the terms of the agreement, TUI Travel investors would receive 0.399 new TUI AG s
Read morePetrofac launches new partnership with First Reserve
26th Jun 2014 13:30
Oil and gas group Petrofac has signed a framework agreement with infrastructure investment firm First Reserve to create PetroFirst Infrastructure Partners, which will acquire a number of existing assets from Petrofac's Integrated Energy Services (IES) division, in addition to several new energy infr
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