London midday: Markets bounce back ahead of US data
6th Dec 2013 11:31
- FTSE 100 rebounds from worst level in eight weeks - Oil, housing stocks provide a lift - Markets focus on non-farm payrolls ahead of Fed meeting techMARK 2,657.20 +0.34% FTSE 100 6,536.26 +0.58% FTSE 250 15,210.58 +0.35% Strong gains in oil and housing sectors were providing a lift in London on
Read moreLondon pre-open: Modest decline expected early on
3rd Dec 2013 07:26
- FTSE expected to fall around 10 points early on - Black Friday sales disappoint Stateside - UK retail sales show slow start to Christmas trading City sources predict the FTSE 100 will open around 10 points lower than yesterday's close of 6,595.33, tracking losses seen across the Pond last night a
Read morePetrofac signs co-operation deal with Nigerian oil group
3rd Dec 2013 07:20
Oilfield services group Petrofac has signed a five-year co-operation agreement with the Nigerian Petroleum Development Company (NPDC). The memorandum of understanding, signed together with African firm Taleveras Energy Resources, "support[s] NPDC's aims to further build indigenous capacity and tech
Read moreSunday newspaper round-up: UK economy, RBS, Tesco
1st Dec 2013 16:13
The Office for Budget Responsibility (OBR) will say the economy is growing at twice the rate it forecast in March, the Sunday Telegraph and Sunday Times reported. The OBR will say 2013 growth has jumped to 1.4% from the 0.6% it predicted eight months ago. Next year the economy will grow by about 2.3
Read moreSector movers: Ex-div AMEC drags oil services lower amid M&A speculation
27th Nov 2013 15:40
Heavy falls from engineering firm AMEC were weighing on the oil equipment and services sector on Wednesday after the stock went ex-dividend. New investors from today will no long qualify for AMEC's latest dividend, which usually leads to an automatic drop in price by the amount of the expected payo
Read moreFTSE 100 movers: Drinks firms dragged lower by Remy Cointreau
26th Nov 2013 14:04
Drinks makers SABMiller and Diageo declined as they tracked their European counterparts lower after French peer Remy Cointreau SA forecast a decline in annual profit. One of the Chinese metals groups bidding for Glencore Xstrata's Las Bambas copper project in Peru has dropped out of the race after
Read moreBroker tips: Tesco, Petrofac, Airlines, De Le Rue
26th Nov 2013 11:42
Deutsche Bank has cut its target price for Tesco from 405p to 386p ahead of its third-quarter trading update next week, saying that like-for-like (LFL) trends have deteriorated. "We expect Q3 LfL trends to have deteriorated in most markets versus Q2, most notably in the UK, Thailand, Ireland and Ko
Read moreBroker snap: Petrofac 'unfairly punished' for cautious guidance, says Credit Suisse
26th Nov 2013 09:16
Credit Suisse has reiterated its 'outperform' rating for oilfield services (OFS) group Petrofac, saying that the stock has been 'unfairly punished' after the cautious guidance given last week. Petrofac fell sharply on November 18th after saying that it expects "flat to modest growth" in net income
Read moreFTSE 100 movers: Airlines climb on Iran deal and broker comments
25th Nov 2013 15:06
Airlines IAG and easyJet were both higher after oil prices went into decline following the deal with Iran which eased export sanctions for the latter and significantly lowered tensions in the Middle East. Iran and the so-called P5+1 nations of Russia, China, France, Germany, the UK and the US came
Read moreLondon midday: Travel stocks lift markets higher after Iran deal
25th Nov 2013 11:18
- Markets hail Iran accord over nuclear programme - Oil, gold prices drop after Iran deal - US markets set to extend record highs techMARK 2,654.27 +0.46% FTSE 100 6,695.66 +0.32% FTSE 250 15,292.96 +0.69% News of a deal constraining Iran's nuclear programme gave equity markets a lift on Monday mo
Read morePetrofac wins lucrative contract to update Oman oil refinery
25th Nov 2013 08:25
Petrofac, the FTSE 100 international oil and gas services provider, announced Monday that its 50/50 joint venture with Korean based Daelim Industrial has been awarded a 36-month Engineering, Procurement and Construction contract by Oman Oil Refineries and Petroleum Industries. The $2.1bn contract
Read moreLondon open: Markets welcome Iran deal, travel stocks jump
25th Nov 2013 08:25
- Markets hail Iran accord over nuclear programme - Oil companies slumps, travel stocks surge - Oil, gold prices drop after Iran deal techMARK 2,661.69 +0.74% FTSE 100 6,702.01 +0.42% FTSE 250 15,314.64 +0.84% UK markets headed higher on Monday morning as investors welcomed the deal over the weeke
Read moreWednesday broker round-up UPDATE
20th Nov 2013 08:46
Afren: Liberum Capital raises target price from 197p to 232p and maintains a buy recommendation. AstraZeneca: Berenberg cuts target price from 3472p to 3430p reiterating a hold recommendation. AVEVA Group: Liberum Capital reduces target price from 2350p to 2250p and keeps its hold recommendation.
Read moreBroker tips: Aberdeen, Petrofac, easyJet
19th Nov 2013 11:38
Aberdeen Asset Management was trading in the red on Tuesday morning as the share price pulled back from its near-15 per cent surge the day before following the company's acquisition of Scottish Widows Investment Partnership (SWIP) from Lloyds. Numis Securities was also weighing on the stock after
Read moreBroker snap: UBS slashes targets for Petrofac but stays upbeat
19th Nov 2013 10:37
UBS has slashed its target price for oilfield services group Petrofac by almost a quarter after the company warned on Monday that contract delays could hamper growth in 2014 and possibly beyond. However, the bank maintained its positive 'buy' recommendation for the stock, saying that its new target
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