London midday: Stocks give up weak start
12th Aug 2011 12:25
London's leading share index is posting strong gains now, in line with mainland European bourses following the short selling ban. France, Italy, Spain and Belgium have banned short-selling of financial stocks in an attempt to prevent further slides in banking stocks' share prices. Barclays and oth
Read moreLondon open: Oil stocks drag Footsie into the red
12th Aug 2011 08:39
Shares picked up after a steep decline in the opening minutes, but the FTSE 100 was still trading 0.7% down by 08.39am, as London looks set to experience another day of volatile trade. Oil-related stocks were on the fall in early trade as the price of Brent Crude fell 0.85% to $107.10 per barrel a
Read moreLondon close: Footsie bounces after morning sell-off
9th Aug 2011 16:45
Following another steep decline in early trading, the Footsie clawed its way back, surging nearly 400 points since the mid-morning to finish 1.89% higher. The blue chip index closed up 96 points. All eyes are on the Federal Reserve's monetary policy meeting, with markets eagerly waiting to hear of
Read moreFTSE 100 movers: black gold trumped by gold gold
14th Jul 2011 15:33
Mexican precious metals miner, Fresnillo, led the charge today after announcing record production of both gold and silver in the second quarter of 2011. The news that the company was 'deeply concerned' by the deaths of several workers at its operations during the period didn't dent investor confide
Read morePetrofac signs two MOUs with Petronas
13th Jul 2011 11:17
Oilfield services provider Petrofac has signed two memoranda of understanding (MOU) with Malaysian state-run company Petronas. One of the agreements record the undertaking by both the companies to accelerate production from block PM304, offshore Peninsular Malaysia, which includes Cendor and West
Read moreMarathon extends Petrofac's North Sea contract
12th Jul 2011 08:36
US oil firm Marathon Oil, which has been working with oilfield services provider Petrofac in the North Sea since 2005, has extended the UK company's services contract by four years. Starting in August 2011, Petrofac will deploy its engineering, construction, operations and maintenance services und
Read moreLondon close: Rally continues as Greek fears ease
30th Jun 2011 16:38
The rally continued Thursday, helping the top share index move back towards the 6,000 point mark it had been flitting around from the beginning of the year until the escalation of the Greek debt crisis. The Greek parliament's second vote on the proposed new austerity measures provided further chee
Read moreSector movers: Lloyds lifts banks, Petrofac weighs on oil services
30th Jun 2011 14:14
Banking giant Lloyds rose nearly 9% on Wednesday afternoon after revealing the details of its strategic review, providing a lift to the banking sector, which was broadly higher. Lloyds is aiming to shed a further 15,000 jobs and cut its presence in foreign markets by half. Other notable aims includ
Read moreFTSE 100 movers: Lloyds jumps 9% to lead the risers
30th Jun 2011 14:02
Lloyds was the high riser of the day, gaining nearly 9% as of 14:00 on Thursday afternoon, after revealing the details of its strategic review. The group is aiming to shed a further 15,000 jobs and cut its presence in foreign markets by half. Other notable aims include an investment programme in n
Read moreLondon midday: Lloyds leads the charge
30th Jun 2011 12:02
The top share index is in positive territory again, with Lloyds Banking Group leading the charge after revealing the details of its strategic review. Lloyds, the part-nationalised high street behemoth, is aiming to shed a further 15,000 jobs and cut its presence in foreign markets by half. The ann
Read moreLondon open: Lloyds leads the rise after review
30th Jun 2011 08:37
Lloyds Banking Group was the high riser of the morning after revealing the details of its strategic review. The Footsie opened up near the 5,900 mark, a level not seen since the start of the month. Lloyds, the part-nationalised high street behemoth, is aiming to shed a further 15,000 jobs and cut i
Read morePetrofac on track to grow profits by 15%
30th Jun 2011 07:41
Petrofac, the provider of facilities solutions to the oil and gas industries, said it is on course to deliver its target of at least 15% like-for-like net profit growth in 2011. During the first half ended 30 June, the group had an order intake of $2.1bn, including new awards in Algeria, Malaysia a
Read morePetrofac JV wins Sharjah rig gig
29th Jun 2011 14:15
BP subsidiary, BP Iraq, has chosen Petrofac and its joint venture partner, China Petroleum Engineering & Construction Corporation (CPECC), to handle inspection, maintenance and repair duties at the Rumaila oil field in Southern Iraq. The oilfield services giant said the one-year contract is worth
Read moreWeek Ahead: HMV, Petrofac, Wood Group
24th Jun 2011 17:32
Thursday is the big day for company trading updates next week, as is often the case, with Greene King, HMV, Petrofac and Debenhams set to update the market that day. HMV Group may only be a small cap company these days but, as the short seller's favourite weapon of choice over the last year or so,
Read moreBoard overhaul at Cairn
16th Jun 2011 07:46
The end of an era is imminent at oil firm Cairn Energy as chairman Norman Murray is set to step down from the board at the beginning of July, with current chief executive Sir Bill Gammell moving up to replace him. Simon Thomson, currently the Legal and Commercial director of Cairn, will succeed Gam
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