Petrofac expects growth after recommencing In Salah project
16th May 2013 08:03
Petrofac expects modest growth in net profits this year following the rephasing of its In Salah project in Algeria. The British oil services firm was forced to temporarily evacuate staff from the In Salah southern filed following a terrorist attack in January. The company excepts to recommence full
Read moreLondon close: Stocks hit by fears over growth, US earnings
17th Apr 2013 16:50
Fears over economic growth and a raft of disappointing earnings in the States weighed heavily on global markets on Wednesday, while a number of heavyweight stocks going ex-dividend dampened the FTSE 100 in London. Bank of America (BofA) was the first major US bank to miss forecasts this earnings se
Read moreFTSE 100 movers: Tullow Oil dives on drilling plans
17th Apr 2013 14:47
Tullow Oil saw its shares drop significantly after its joints venture partner Northern Petroleum gave an update on one of its wells at its joint venture project in French Guiana. Following an announcement by Northern Petroleum, the company confirmed that the GM-ES-3 well, which to-date has had no si
Read moreLondon midday: FTSE 100 on track for fourth straight loss
17th Apr 2013 11:39
A number of heavyweight stocks going ex-dividend assured that London's FTSE 100 index was in the red for a fourth consecutive day on Wednesday, while concerns over the global economy continued to weigh on sentiment. Global growth fears have hit markets over the last few days after a surprise slowdo
Read moreLondon open: Ex-div stocks sink markets early on
17th Apr 2013 08:47
The FTSE 100 was in the red for the fourth straight day on Wednesday as a number of ex-dividend stocks provided a drag on London's benchmark index. Global growth concerns have weighed on markets over the last few days after a surprise slowdown was reported in China in the first quarter. These fears
Read morePetrofac wins 3.7bn dollar contract
11th Apr 2013 11:33
Oil and gas service provider Petrofac has secured a share of a 3.7bn dollar contract to help develop oil field facilities for the Abu Dhabi National Oil Company. The contract was awarded to a consortium in which the FTSE 100 company's Petrofac Emirates joint venture is a major part. The share of
Read moreLondon midday: Stocks rise, M&A speculation boosts Vodafone
2nd Apr 2013 11:36
The FTSE 100 had gained one per cent by Tuesday lunchtime as traders made up for lost time following a long four-day weekend for the Easter holidays. Telecoms giant Vodafone was leading the risers on London's benchmark index on the back of speculation that it could be involved in the biggest M&A d
Read morePetrofac awarded 500m-dollar offshore project in Abu Dhabi
2nd Apr 2013 11:29
FTSE 100-listed Petrofac has been awarded an engineering, procurement, installation and commissioning contract by Abu Dhabi Marine Operating Company (ADMA-OPCO) for the Satah Al Razboot (SARB) Package Three Project in offshore Abu Dhabi. The group reported that the $500m competitively tendered con
Read moreLondon close: FTSE 100 breaches 6,500 despite mixed data
11th Mar 2013 16:30
The FTSE 100 breached the psychological barrier of 6,500 on Monday afternoon, hitting fresh five-year highs, though gains were only slight given a barrage of mixed economic data released earlier in the session. The fact that a number of benchmark indices around the globe are trading at (or close to
Read moreLondon midday: Markets cautious after mixed economic data
11th Mar 2013 11:46
The FTSE 100 was trading within a narrow range on Monday morning as traders remained cautious following a barrage of mixed economic data over the past few days. With indices across the globe trading at (or close to) record highs, markets are appearing to pause for breath after a strong run so far t
Read morePetrofac awarded Deepwater project offshore Mexico
11th Mar 2013 10:37
FTSE 100-listed oilfield services group Petrofac's Engineering and Consulting Services business, in partnership with Doris Engineering of Houston, has been awarded a project management contract by Petróleos Mexicanos (PEMEX) for technical assistance and supervision for the Lakach project offshore Me
Read moreThursday broker round-up UPDATE
7th Mar 2013 07:25
Admiral: Nomura raises target price from 1350p to 1493p keeping a buy recommendation. African Barrick Gold: Nomura cuts target price from 435p to 200p and downgrades from neutral to reduce. Aggreko: Investec increases target price from 1750p to 1940p upgrading from hold to buy. Anglo American: No
Read moreThursday broker round-up UPDATE
28th Feb 2013 07:19
AZ Electronic Materials: Goldman Sachs moves target price from 440p to 450p and retains a buy recommendation. Bovis Homes Group: Deutsche Bank shifts target price from 667p to 679p, while downgrading to hold. British American Tabacco: Investec places its target price (previously 3350p) and buy rec
Read moreThursday tips round-up: Petrofac, Bwin.party
28th Feb 2013 06:27
To be fair, order intake of oil service companies is usually volatile and it is hard to forecast when billion-dollar contracts will land. But Petrofac is more exposed than most. Many of its customers are the national oil companies of the Middle East, where bureaucracy and delay seem to be getting wo
Read moreLondon close: Stocks rebound after upbeat US housing data
27th Feb 2013 17:08
Continuing upbeat data from the US housing sector boosted the FTSE 100 in afternoon trade on Wednesday, as stocks tracked Wall Street indices higher. Stocks sank yesterday (FTSE 100 down 1.3%, Cac 40 down 2.7% and FTSE MIB down 4.9%) in the wake of the Italian elections which revealed growing suppo
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