FTSE 100 movers: Contract wins caps strong year for Petrofac
30th Dec 2010 16:22
Big contracts continue to roll in at Petrofac with the fabrications group now chosen to develop the SEPAT offshore early production system on the East coast of Peninsular Malaysia. Petronas Carigali has awarded Petrofac the contract, which is worth approximately $280m. First oil is expected before
Read moreLondon midday: Traders go 'cold turkey' on shares
30th Dec 2010 12:23
Traders are regarding UK shares with all the enthusiasm of someone being offered another round of cold turkey sandwiches, as the lull between Christmas and New Year continues. Fallers outnumber risers by around two to one among Footsie constituents, with miners reflecting the mixed picture. Silver
Read morePetrofac wins $280m Indonesian contract
30th Dec 2010 09:17
Big contracts continue to roll in at Petrofac with the fabrications group now chosen to develop the SEPAT offshore early production system on the East coast of Peninsular Malaysia. Petronas Carigali has awarded Petrofac the contract, which is worth approximately $280m. First oil is expected before
Read moreFriday tips round-up: LSE, Petrofac...
24th Dec 2010 06:43
The pending merger of Bats Global Markets of the US and Chi-X looks like the end of an interesting if, with the benefit of hindsight, doomed experiment. The question now is what effect will it have on the LSE's revenues to have one real rival, with a market share of maybe a third in FTSE 100 stocks,
Read moreFTSE 100 movers: BSkyB on the up
22nd Dec 2010 13:19
British Sky Broadcasting is higher after Business Secretary Vince Cable had to give up the right to make the decision on Rupert Murdoch's bid for the satellite broadcaster. Cable was stripped of his power to rule on News Corporation's takeover of BSkyB after telling undercover reporters he had "de
Read moreFTSE 100 movers: Retailers fall on weather worries
20th Dec 2010 12:18
Retailers are in decline over worries that shoppers may not be able to reach the stores to spend money because of the snow. Next is the largest faller with Marks & Spencer also down on the day. British Airways has been hit by cancelled flights and the closure of airports. Oil services provider
Read moreLondon close: Banks hold back Footsie
17th Dec 2010 17:03
Shares failed to haul themselves into the blue on a busy day's trading, as worries over the Irish economy spooked banking stocks. Ratings agency Moody's has slashed its credit rating on Ireland by five notches to Baa1 from Aa2 citing concerns over banking liabilities and economic prospects. Lloyd
Read moreLondon afternoon: Downbeat banks hold back Footsie
17th Dec 2010 15:05
Shares remain uncertain as the weekend approaches, with banks holding the leading share index back amid continuing eurozone worries. Ratings agency Moody's has slashed its credit rating on Ireland by five notches to Baa1 from Aa2 citing concerns over banking liabilities and economic prospects. Me
Read moreLondon midday: Stocks retreat
17th Dec 2010 12:49
The leading index broke above 5,900 for a short time, but now finds itself stuck in the red as AstraZeneca and the banks offset gains in the property sector. The Bank of England has warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields c
Read moreLondon open: Flat start for blue chips
17th Dec 2010 08:43
London has started slowly despite the late gains on Wall Street overnight with some gloomy comments from the Bank of England unsettling the mood. The Bank warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields continued to rise. Lloyds an
Read moreLondon pre-open: Flat start expected
17th Dec 2010 07:31
A flat start is expected in London, despite gains on Wall Street last night. A surge in activity in the fourth quarter enabled temporary power and temperature control specialist Aggreko to nudge its full-year profit estimates higher. It now expects a pre-tax profit of around £305m for 2010, up from
Read morePetrofac happy with bullish profit prediction
17th Dec 2010 07:05
Petrofac, the oilfield services provider, thinks net profit for 2010 will be up by a fifth, in line with expectations, while the year-end order backlog should be a new record. In a statement ahead of full-year results due on 7 March, the company said it should match the $416.3m profit forecast by a
Read morePetrofac gets onboard Gateway storage project
6th Dec 2010 07:21
Oilfield services provider Petrofac has snapped up a 20% interest in UK gas storage outfit, Gateway Storage. The cash consideration could be up to £33m over time, and will be funded from Petrofac's cash resources. The consideration will be split into a fixed upfront payment and additional contingen
Read morePetrofac gains Nigerian foothold
25th Nov 2010 16:59
Oil services provider Petrofac has entered into an alliance with Nigerian oil company Seven Energy International. The deal is part of Petrofac's strategy to gain a presence in Nigeria, the tenth largest oil producer in the world. Having a local partner will help. Petrofac is paying $100m for a 1
Read moreLondon close: Footsie rallies to narrow losses
12th Nov 2010 16:47
Footsie recovered from an early slump to close just a few points lower as well-received company updates nearly cancelled out losses in the mining sector. Miners were big fallers on disappointment with the outcome at the G20 meeting and the possibility of a currency free-for-all. Talk that China is
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