London close: Stocks fall as post-Olympic blues set in
13th Aug 2012 17:07
- Global equities finish broadly lower - GDP growth a concern in Japan and China - Greek GDP beats expectations Mixed news from the Eurozone and concerns over growth in Asia sent most stock markets across the globe into the red on Monday. "As the post-Olympic blues set in, European markets appeare
Read moreSector movers: COLT lifts telecoms higher
13th Aug 2012 16:13
COLT was making decent gains on Monday afternoon, lifting the telecoms sector higher after a bolt-on acquisition of a UK cloud computing specialist, beefing up its presence in the small to medium enterprises (SME) market. Colt has completed the purchase of Fidelity Telecom Limited, a privately-own
Read moreFTSE 100 movers: Petrofac and the miners provide a drag
13th Aug 2012 15:26
Oilfield services firm Petrofac was leading the fallers on the Footsie on Monday afternoon despite reporting a strong first half as investors turned cautious on the pace of growth going forward Earnings per share were up 32% to 94.8c, with pre-tax profits rising to $412.5m, from $300m the year befo
Read moreLondon midday: Global growth fears weigh on stocks
13th Aug 2012 11:40
- Mood dampened by slowdown in Japan, China - Germany could block aid to Greece - Summer rally loses momentum UK stocks were broadly unchanged by Monday lunchtime as the recent rally in global equity markets began to fade with worries about Asian economic growth weighing on sentiment. The Japanes
Read moreBroker tips: Petrofac, Glaxo, ENRC
13th Aug 2012 11:11
Petrofac may have announced that it is on track to hit its full-year guidance but Investec has maintained its 'hold' rating and 1,500p target price on the stock, saying that it is 'still worrying about the future'. "Although 1H12 contract wins have just kept the order book on track (only a 4% decli
Read moreBroker snap: Visibility a concern at Petrofac, says Investec
13th Aug 2012 10:20
Petrofac may have announced that it is on track to hit its full-year guidance but Investec has maintained its 'hold' rating and 1,500p target price on the stock, saying that it is 'still worrying about the future'. The interim results were slightly ahead of expectations, but with a bit more caution
Read morePetrofac disappoints investors
13th Aug 2012 09:04
Oil and gas services group Petrofac reported a strong first half but investors punished the firm for not giving them even more. The company stuck with its prediction of full year net profit growth of at least 15% in 2012. But investors judged the company harshly, pushing shares in the FTSE 100 fir
Read moreLondon open: Japanese slowdown weighs on stocks
13th Aug 2012 08:16
- Petrofac leads fallers early on - Japanese GDP growth misses forecasts - Germany could block aid to Greece The FTSE 100 fell slightly in early trade on Monday on concerns over the global economy after Japanese growth figures disappointed. The Japanese economy grew by just 0.3% in the second quar
Read moreLondon pre-open: Quiet start expected for the Footsie
13th Aug 2012 07:20
London's benchmark index is expected to open a little lower on Monday morning in the absence of any new developments over the weekend. City sources are predicting that the FTSE 100 will open around eight points lower from Friday's close of 5,847. "A quiet start to the trading week is expected toda
Read morePetrofac has strong first half
13th Aug 2012 07:03
Oil and gas services group Petrofac reported a strong first half driven by growth across all its markets. The company stuck with its prediction of full year net profit growth of at least 15% in 2012. Earnings per share were up 32% to 94.8c, with pre-tax profits rising to $412.5m, from $300m the ye
Read morePetrofac wins Saudi contracts
24th Jul 2012 10:43
Petrofac, the international oil and gas service provider, has been awarded two contracts for a big petrochemical expansion project in Rabigh, Saudi Arabia. The projects - scheduled to start within three years - are some of the first major awards made by Saudi Arabia's national oil company, Saudi A
Read moreApache extends North Sea contract with Petrofac
20th Jul 2012 15:41
Oil and gas services group Petrofac has been awarded an engineering and construction contract by Apache North Sea. The three-year contract, for the provision of onshore engineering and both onshore and offshore construction services, has two optional one-year extensions and is worth £100m per annum
Read moreThursday broker round-up
19th Jul 2012 09:43
Afren: JP Morgan Cazenove reiterates overweight. Avocet: Westhouse Securities upgrades to buy. Barclays: Goldman Sachs upgrades to neutral, target cut from 250p to 220p. BG Group: Credit Suisse downgrades from outperform to neutral, target cut from 1,660p to 1,500p. British American Tobacco: Inv
Read moreLondon close: US data, stimulus hopes drive gains
3rd Jul 2012 16:35
- US factory data beats forecasts - Stimulus hopes drive gains for equity markets - Barclays choppy after CEO, COO departures Following a tentative start, the FTSE 100 surged in afternoon trade on the back of some strong factory-order data in the US. Hopes that central banks from across the globe
Read moreSector movers: Oil services stocks gain on broker comments
3rd Jul 2012 15:40
The oil equipment, services and distribution sector was one of the best performing categories on Tuesday afternoon with Petrofac and AMEC among the stocks providing a lift. Petrofac, which specialises in the design of hydrocarbon processing plants, was up over 1% after Liberum Capital upgraded its
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