Thursday tips round-up: Petrofac, Mouchel, Pennon
16th Jun 2011 07:03
Petrofac shares have experienced pretty much straight-line growth over the past year and had got to a stage, with a price-earnings multiple in the high teens, which was becoming hard to justify. The company has said that by 2015 it will double the basic profits earned in 2010. The shares look high e
Read moreLondon close: Glencore drags Footsie 1% lower
15th Jun 2011 16:39
The blue chip index slipped further into the red on the back of a poor start on Wall Street as economic data disappointed. US May consumer price index came in ahead of forecasts, rising 0.2%. While the Federal Reserve Bank of New York manufacturing sector index fell to a reading of -7.79, from 11.9
Read moreLondon close: ENRC leads FTSE 100 slide
10th Jun 2011 16:26
The top share index slid below the 5,800 point mark heading into the weekend. ENRC, the Kazakh resources giant, was nursing heavy losses by the close of play. The company is set to lose a third independent board director according to reports in the Financial Times. The loss of Mehmet Dalman would
Read moreFTSE 100 movers: ENRC leads the decline
10th Jun 2011 13:54
Kazakhstan-focused miner Eurasian Natural Resources Corp is the heaviest faller on further speculation of a major boardroom shake-up, as a result of indifferences with minority shareholders. On Wednesday, the group initiated a "comprehensive review of its corporate governance" which saw four board
Read moreLondon midday: FTSE 100 still in the red
10th Jun 2011 12:02
The top share index is slightly in the red again after an earlier rally faltered. Housebuilder Bellway is in demand after it said it is well positioned to deliver operating margin and volume growth if market conditions remain unchanged following a return to a more normal reservation pattern and a h
Read moreLondon open: Stocks edge lower
10th Jun 2011 08:17
Shares have edged slightly lower on a quiet day on the company news front. Economic resilience in the southeast of England helped brewer and pub operator Fuller, Smith and Turner post a strong rise in profits in the year to 2 April. The company, whose pubs only stretch as far north as the Midlands,
Read moreLondon pre-open: Stocks to retreat after rally
10th Jun 2011 07:38
Stocks are expected to give back some gains on a typically quiet Friday on the company news front. Economic resilience in the southeast of England helped brewer and pub operator Fuller, Smith and Turner post a strong rise in profits in the year to 2 April. The company, whose pubs only stretch as f
Read morePetrofac raises stake in Nigerian oil and gas firm
10th Jun 2011 07:05
Oil and gas facilities provider Petrofac has acquired an additional 11.9% stake in Nigerian production and development firm Seven Energy International for $75m. The investment brings Petrofac's interest in the company to 24.5% (on a fully diluted basis), after the initial 12.6% stake was purchased
Read morePetrofac buys software company
18th May 2011 08:10
Oil and gas facilities provider Petrofac has bought business partner SkillsXP from Dutch company Tritanium for an initial cash consideration of €1m. A further cash consideration of up to €0.5m is payable over three years, subject to the business achieving certain agreed performance targets. The d
Read moreLondon close: Stocks give up gains
13th May 2011 17:01
Stocks ran out of puff following the US open and closed in the red giving up the gains they had posted on the back of buoyancy on Wall Street overnight. Oil services group Petrofac said it is "increasingly confident" that it will deliver profit growth in line with previous guidance after a strong p
Read moreFTSE 100 movers: Oil and metals stocks edge rise higher
13th May 2011 15:34
Commodity price-sensitive stocks were wanted today, as the prices of precious metals and oil recovered from the recent sell-off. Oil services group Petrofac is higher after saying it is "increasingly confident" that it will deliver profit growth in line with previous guidance after a strong perform
Read moreLondon midday: Thumbs up for company updates
13th May 2011 12:04
Stocks have reacted well to company updates and the FTSE 100 is in touching distance of the 6,000 point mark again. Oil services group Petrofac leads the FTSE 100 higher after saying it is "increasingly confident" that it will deliver profit growth in line with previous guidance after a strong perf
Read moreLondon open: Rally continues as updates impress
13th May 2011 08:32
Stocks have continued a rally that began ahead of the close yesterday, helped by a good performance on Wall Street last night and some well received company news. In company news, oil services group Petrofac says it is "increasingly confident" that it will deliver profit growth in line with previou
Read moreLondon pre-open: Stocks to follow Wall St. higher
13th May 2011 07:45
Wall Street's rebound yesterday on the back of a rally in commodity prices looks set to give London an early boost, with City traders predicting the blue-chip index will open around 28 points higher at 5,973. Oil services group Petrofac says it is "increasingly confident" that it will deliver profi
Read morePetrofac confident as order intake grows
13th May 2011 07:09
Oil services group Petrofac says it is "increasingly confident" that it will deliver profit growth in line with previous guidance after a strong performance so far this year. Major awards in Algeria, Iraq and Malaysia have helped bring the order intake in the year to date to $2bn (£1.2bn). A backlo
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