FTSE 100 movers: Petrofac down on underwhelming results
27th Feb 2013 15:42
Oilfield services group Petrofac was a big faller after underwhelming with a nine per cent rise in revenue and 17 per cent increase in net profit in 2012. The firm´s plans to invest around $1bn in capital outlays over the next five years displeased some analysts. Eurasian Natural Resources Corpora
Read moreLondon midday: Sentiment still fragile after inconclusive Italian elections
27th Feb 2013 11:28
Markets across Europe were staging a slight rebound on Wednesday but sentiment was still fragile as political instability in Italy spread fears that the Eurozone crisis could drag on for some time yet. Stocks sank yesterday (FTSE 100 down 1.3%, Cac 40 down 2.7% and FTSE MIB down 4.9%) in the wake o
Read moreLondon open: Markets claw back after sell-off
27th Feb 2013 08:40
Stock markets rebounded slightly on Wednesday morning following a sell-off the day before after the disappointing outcome to the national elections in Italy. Equities across Europe were sold off yesterday in the wake of the Italian elections which revealed growing support for anti-austerity parties
Read moreFull year revenue up nine per cent at Petrofac
27th Feb 2013 07:25
Revenue rose nine per cent at FTSE 100-listed oilfield service company Petrofac in the year ended December 31st. The company reported that its revenue rose to $6.3bn from $5.8bn a year earlier while net profit rose 17% to $632m from $540m in 2011. Earnings per share (diluted) increased by 17% to 1
Read moreLondon midday: Markets subdued as focus turns to the BoE
13th Feb 2013 11:22
London's FTSE 100 index was still in negative territory by Wednesday lunchtime, albeit well off its intraday low, as all eyes turned to the Bank of England (BoE) and the release of its three-monthly inflation report. While Governor Sir Mervyn King admitted that output has been broadly flat for the
Read moreBroker tips: Petrofac, Imagination Tech, Telecity
13th Feb 2013 10:59
Oilfield services group Petrofac was performing well on Wednesday morning, helped by an upgrade by UBS from 'neutral' to 'buy'. "We think Petrofac has a solid business model within the onshore engineering & construction (E&C) end market. While Saipem's [Italian peer] warning may have cast doubt on
Read moreBroker snap: UBS upgrades Petrofac to 'buy'
13th Feb 2013 10:20
Oilfield services group Petrofac was performing well on Wednesday morning, helped by an upgrade by UBS from 'neutral' to 'buy'. "We think Petrofac has a solid business model within the onshore engineering & construction (E&C) end market," the broker said. "While Saipem's [Italian peer] warning may
Read moreLondon open: Stocks open lower ahead of inflation report
13th Feb 2013 08:27
UK stocks opened moderately lower ahead of the Bank of England's (BoE's) inflation report due out at 10:30, as well as a number of important economic indicators elsewhere. "European stock markets are largely mixed Wednesday, staying in a tight range as traders tread carefully ahead of the G-20 meet
Read moreWednesday broker round-up UPDATE
13th Feb 2013 07:47
API Group: Numis shifts target price from 70p to 67p downgrading to hold. Barclays: Morgan Stanley raises target price from 386p to 400p keeping an overweight rating. Credit Suisse increases target price from 250p to 290p, while leaving its neutral rating unchanged. JP Morgan ups target price from
Read moreTuesday broker round-up UPDATE
12th Feb 2013 07:24
AMEC: Exane BNP initiates with a target price of 1140p and an underperform rating. Anglo American: Goldman Sachs increases target price from 1500p to 1550p, while keeping a sell recommendation. Barclays: Nomura reiterates reduce. Charles Stanley reiterates hold. Investec reiterates buy, with price
Read moreLondon open: Markets lack direction early on
11th Feb 2013 08:37
The FTSE 100 opened flat on Monday morning with volumes thin as Asian markets close for the Lunar New Year holidays. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed. "At
Read moreMonday broker round-up UPDATE
11th Feb 2013 07:41
Aquarius Platinum: Deutsche Bank shifts target price from 82p to 83p keeping a buy recommendation. AstraZaneca: JP Morgan cuts target price from 2970p to 2750p and retains an underweight rating. Avation: WH Ireland ups target price from 120p to 140p, while its buy recommendation is kept. Bellway:
Read moreLondon close: Stocks fall as focus turns to Friday's US jobs report
31st Jan 2013 16:41
Equities were extending losses on Thursday after yesterday's shock contraction in the States, as markets braced for another busy day on the economic calendar tomorrow. "Traders were unwinding positions earlier on January's phenomenal rally which sees major share markets at multi-year highs," said m
Read moreFTSE 100 movers: AstraZeneca hit by falling revenue
31st Jan 2013 15:48
Pharmaceutical titan AstraZeneca dropped after reporting that full-year revenue fell 15 per cent due to a loss of exclusivity on several brands. The company also said that it would not buy back any shares in 2013 "in order to maintain the flexibility to invest the business". Oil giant Royal Dutch
Read moreLondon close: Footsie slips after surprise US contraction
30th Jan 2013 16:57
After a decent start, London's FTSE 100 index slipped into the red in the afternoon session, as disappointing gross domestic product (GDP) figures from the US dampened risk appetite. Mining stocks bore the brunt of the selling today, pulling the resource-heavy Footsie down from the four-and-a-half-
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