Petrofac on track to hit full-year profit targets
18th Dec 2012 07:07
Oilfield services giant Petrofac has reiterated its target of achieving net profit growth of at least 15 per cent this year, saying that operations continue to perform in line with expectations. The group, which said in October that it had seen "high levels of bidding activity" going into the fourt
Read moreTuesday preview: Petrofac to see if steady rise can continue
17th Dec 2012 16:40
With the Christmas holidays getting closer, corporate results and updates are a little thin on the ground this week, though Petrofac is scheduled to report on fourth-quarter trading on Tuesday morning. Shares in the oil and gas engineering company have risen steadily recently - the stock is up 13%
Read morePetrofac wins two contracts to work on refinery in Saudi Arabia
4th Dec 2012 13:16
FTSE 100 oilfield services giant Petrofac has scored two engineering, procurement and construction contracts for work on Saudi Aramco's Jazan Refinery and Terminal project. Under the contacts, which are worth a combined total of $1.4bn, the company's Saudi Arabia office will lead the project manag
Read moreThursday Broker round-up UPDATE
15th Nov 2012 07:21
AMEC: Nomura raises target price from 1240p to 1340p, buy rating remains unchanged. Barclays Capital reduces target price from 1350p to 1320p, underweight rating kept. Atkins (WS): Investec reduces target price from 727p to 700p, hold recommendation maintained. Barr AG: UBS raises target price fro
Read moreLondon open: Stocks edge higher ahead of US elections
6th Nov 2012 08:32
Stock markets across Europe opened tentatively on Tuesday morning as the world gears up for the presidential elections across the Pond later today. While all eyes will likely be on the US today, investors had plenty to distract them this morning in London, with a barrage of trading updates and res
Read moreLondon pre-open: Rise expected ahead of US Presidential Election
6th Nov 2012 07:28
City sources predict the FTSE 100 will open up by 18 points from yesterday's close of 5,839, tracking US stocks higher, although trading is likely to be relatively thin ahead of the US election results. Although the result of the election is to be announced today, the exit polls won't be published
Read morePetrofac and Bowleven team up to develop Cameroonian asset
6th Nov 2012 07:07
FTSE 100 oilfield services giant Petrofac has entered into a 'strategic alliance' with AIM-listed oil and gas group Bowlevento develop the latter's Etinde Permit, offshore Cameroon, which will see Petrofac invest up to half a billion dollars. Petrofac will provide engineering capability to Euroil,
Read moreLondon midday: BG and Barclays provide a drag on the Footsie
31st Oct 2012 11:48
- BG drops nearly 20 per cent after cutting guidance - Barclays disappoints with Q3 results - US markets to re-open following two-day closure After a stable start, the FTSE 100 had dropped into negative territory by Wednesday lunchtime, with heavy falls from BG Group and Barclays providing a drag o
Read moreLondon close: Stocks decline after Caterpillar earnings
22nd Oct 2012 16:28
- Caterpillar disappoints with guidance - Kenny-Merkel statement apparently overinterpreted -DPA - BP falls after confirming Rosneft deal After a brief stint in positive territory, UK stocks fell into the red by the close on Monday after some disappointing guidance for US economic bellwether Caterp
Read moreFTSE 100 movers: Miners rise on improved Eurozone outlook
22nd Oct 2012 15:25
Mining and banking stocks were among the best performers on the improving outlook for the Eurozone, with Anglo American, Fresnillo, Antofagasta, Vedanta, and Glencore all rising higher. Barclays and Lloyds were also doing well, boosted by news of a decent outcome for Spanish Prime Minister Mariano
Read moreMonday broker round-up - UPDATE
22nd Oct 2012 08:19
888 Holdings: Morgan Stanley ups target from 125p to 130p, overweight rating kept. Aggreko: Jefferies cuts target from 2,800p to 2,535p, buy rating kept; HSBC downgrades to underweight, target cut from 2,350p to 1,750p; JPMorgan Cazenove cuts target from 2,360p to 2,165p, neutral rating kept; Barcl
Read moreLondon open: Stocks flat with US earnings and EU summit in focus
19th Oct 2012 08:31
- Sentiment dampened by Microsoft and Google - EU summit in focus - Aggreko, Bunzl and financials provide a drag Worse-than-expected results from some US blue chips and the EU summit were in the spotlight on Friday morning, keeping UK stocks flat early on. "European equities are trading lower this
Read moreBacklog building up at Petrofac
19th Oct 2012 07:17
Oilfield support services Petrofac said it is experiencing high levels of bidding activity, which should see its backlog pile up over the coming months. Group backlog at the end of September was $9.4bn, up from $8.9bn at the end of June. Of this, Engineering, Construction, Operations & Maintenance
Read moreFriday broker round-up
5th Oct 2012 08:19
Anglo American: AlphaValue upgrades from add to buy. Betfair: Panmure Gordon cuts target from 1,000p to 977p, buy rating kept. BHP Billiton: AlphaValue downgrades from add to reduce. Burberry: Morgan Stanley upgrades to overweight, target kept at 1,190p; UBS keeps neutral rating and 1,170p target
Read morePetrofac bags sub-station contract in Kuwait
27th Sep 2012 07:29
Petrofac, the international oil & gas service provider, has been awarded a lump-sum engineering, procurement and construction (EPC) contract by the Kuwait Oil Company (KOC) for a new power distribution network in North Kuwait. The project was awarded following a competitive tender and will be comp
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