London close: Stocks down ahead of Fed, employment data divides
12th Sep 2012 16:32
- Ex-div stocks and miners weigh on Footsie - Germany approves ESM - All eyes turn to the Fed - Dutch elections tonight Following a stint in the blue after Germany's decision to approve the Eurozone rescue fund, the Footsie had sunk firmly into the red by the close with ex-dividend stocks and minin
Read morePetrofac gets higher-than-expected credit facility
12th Sep 2012 14:35
Shares in Petrofac crept higher on Wednesday afternoon after the oilfield services firm signed a new five-year revolving credit facility for more than it had first expected. The facility, syndicated among its existing relationship banks a smaller number of new banks, was increased from the $1bn ini
Read moreFTSE 100 movers: German ruling boosts financials
12th Sep 2012 13:48
UK banking stocks advanced after Germany's high court approved the Eurozone's new rescue fund, the European Stability Mechanism (ESM), with Lloyds, Royal Bank of Scotland, Barclays, Standard Chartered and HSBC were making gains by this afternoon. RBS was also benefiting after Liberum Capital lifte
Read moreWednesday broker round-up
5th Sep 2012 09:20
AMEC: Nomura retains buy rating and 1,240p target. Ashtead: UBS ups target from 340p to 375p, buy rating unchanged. ASOS: Oriel Securities upgrades to buy; BarCap upgrades to overweight, target lifted rom 1,800p to 2,400p. BP: Investec keeps buy rating and 460p target. BT Group: JPMorgan Cazenov
Read moreLondon close: Footsie drops 1.5 per cent as nerves take over
4th Sep 2012 16:41
- US manufacturing data disappoints - Markets nervous ahead of ECB meeting - Broker downgrades take down Vodafone, Land Secs... Disappointing manufacturing data from the US and skittishness ahead of a European Central Bank (ECB) monetary policy decision on Thursday sparked a sell-off on global stoc
Read moreFTSE 100 movers: Petrofac defies the trend
4th Sep 2012 14:36
The top-share index has been in reverse gear for most of the day, even dipping below 5700 at one point, but oilfield services group Petrofac has been defying the trend Credit Suisse turned positive on the stock. "We believe the stock has performed poorly on a lack of project awards over the summer
Read moreLondon midday: Evraz leads fallers on the FTSE 100
4th Sep 2012 11:53
- Investors in 'wait and see mode' ahead of ECB - Markets await pivotal US ISM data - Moody's lower EU outlook to 'negative' The FTSE 100 had slumped to its lowest levels of the day by Tuesday lunchtime as investors were cautious about building positions ahead of some pivotal US economic data this
Read moreBroker tips: Petrofac, REITs, Ashtead
4th Sep 2012 11:49
Following a period of weakness, Credit Suisse has upgraded its rating on the shares of oilfield services group Petrofac from 'neutral' to 'outperform' and raised its target price from 1,750p to 1,800p. "We believe the stock has performed poorly on a lack of project awards over the summer period an
Read moreBroker snap: Credit Suisse upgrades Petrofac to 'outperform'
4th Sep 2012 10:02
Following a period of weakness, Credit Suisse has upgraded its rating on the shares of oilfield services group Petrofac from 'neutral' to 'outperform' and raised its target price from 1,750p to 1,800p. "We believe the stock has performed poorly on a lack of project awards over the summer period an
Read moreTuesday broker round-up
4th Sep 2012 09:31
Ashtead: Jefferies lifts target from 360p to 320p, buy rating kept. Barclays: JP Morgan downgrades to neutral from overweight, target cut from 265p to 250p. British Land: UBS downgrades to neutral, target cut from 575p to 560p. Capital Shopping Centres Group: UBS upgrades to buy, target lifted fr
Read morePetrofac wins Mexico contract
29th Aug 2012 10:50
Oil and gas services firm Petrofac said it had won a contract to develop the Arenque contract area, offshore Mexico. The firm said the Arenque field, which is currently producing around 5,000 barrels per day, had initial oil in place of approximately 1.2bn barrels with a current recovery factor of
Read moreWednesday broker round-up -UPDATE
29th Aug 2012 09:38
888 Holdings: Investec upgrades from sell to buy target hiked from 18p to 95p. Advanced Medical Solutions: Singer Capital Markets upgrades to buy, target lifted from 80p to 82p. AstraZeneca: AlphaValue downgrades to reduce. Bunzl: Jefferies raises target from 835p to 860p, underperform rating kep
Read morePetrofac wins services contract in Iraq
14th Aug 2012 10:59
Petrofac, the international oil & gas service provider, has agreed to provide offshore operations and maintenance services for the Iraq Crude Oil Expansion Project for the country's South Oil Company (SOC) over a 12-month period. The contract, worth $100m, will follow a three-month mobilisation pe
Read moreIthaca to start drill stem test on Hurricane well
14th Aug 2012 09:56
North Sea focused oil and gas company Ithaca Energy is now beginning a drill stem test at the Hurricane appraisal well, 29/10b-8, which lies within the firm's Greater Stella Area, after tests indicated that the well has encountered hydrocarbons in both the Rogaland and Andrew sands. The test will
Read moreTuesday broker round-up
14th Aug 2012 09:29
BTG: Jefferies cuts target from 410p to 360p, hold rating kept. Capital & Counties: Jefferies initiates coverage with buy rating and 249p target. Centamin: Investec maintains buy rating and 95p target. Daily Mail & General Trust: UBS raises target from 380p to 465p, neutral rating kept. Dragon O
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