London afternoon: Stocks dive deeper
29th Jun 2010 14:27
Expectations of a triple-digit fall on the Dow Jones index when Wall Street opens has added to London's woes. As in London, US investors are concerned that China's economy is not likely to grow at the rate previously anticipated. US based research group the Conference Board said overnight that its
Read moreMARKET TALK: Collins Stewart Downgrades Petrofac To Hold
25th Jun 2010 10:10
0910 GMT [Dow Jones] Collins Stewart downgrades Petrofac (PFC.LN) to hold from buy after recent outperformance in the past month. Notes the company's latest interim management statement points to good backlog growth in 2H '10 but thinks this was already expected by the market. As a result of the rec
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
25th Jun 2010 10:10
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0910 GMT [Dow Jones] Collins Stewart downgrades Petrofac (PFC.LN) to hold from buy after recent outperformance in the past
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
25th Jun 2010 07:43
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0643 GMT [Dow Jones] UBS raises Petrofac (PFC.LN) target price to 1375p from 1350p following the company's 1H update. Says it
Read moreMARKET TALK: UBS Raises Petrofac Target Price
25th Jun 2010 07:43
0643 GMT [Dow Jones] UBS raises Petrofac (PFC.LN) target price to 1375p from 1350p following the company's 1H update. Says it showed continued confidence in the successful growth of the business. The bidding pipeline remains strong and performance on existing contracts is in line with management's e
Read moreFriday tips round-up: Petrofac, DS Smith, Micro Focus
25th Jun 2010 06:55
The big bet for Petrofac this year is on Turkmenistan. The oil and gas services company is already seen by the market as a safe haven while fallout from BP's disaster in the Gulf of Mexico buffets oil stocks. Its share price-earnings ratio is set to be about 17 times this year dropping to 14 next.
Read moreLondon close: Footsie sinks to two-week low
24th Jun 2010 16:42
An afternoon rally fizzled as Wall St opened lower sending Footsie close to its low for the day. Miners were a poor market all day and ENRC, Kazakhmys, Lonmin, Fresnillo and Xstrata were the big losers on fears of a double-dip recession. Elsewhere in the resource sector oil giant BP said the low
Read moreLondon afternoon: Utilities in demand
24th Jun 2010 14:23
Leading shares continued to pare losses over the lunch time session and though the Footsie remains in negative territory, much of that us due to the weakness of mining stocks. ENRC, Kazakhmys, Lonmin, Fresnillo and Xstrataare the big losers in the sector as concerns about Europe's debt crisis resu
Read moreLondon midday: Stocks off the bottom
24th Jun 2010 12:06
Leading stocks are off their lowest levels but the Footsie remains in the red with little hope of a boost in sentiment from Wall Street, where US stocks are expected to open moderately lower. Mining stocks are out of favour after an initially bright start. Early enthusiasm for miners was engendere
Read more2nd UPDATE: Petrofac Performing In Line, Sees FY Backlog Growth
24th Jun 2010 11:28
(Adds analyst comment.) By Iain Packham Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Oil and gas services company Petrofac Ltd. (PFC.LN) said Thursday that operations are performing in line with expectations and it anticipates order backlog to end the year higher than the $8 billion it s
Read moreUPDATE: Petrofac Performing In Line, Sees FY Backlog Growth
24th Jun 2010 09:15
(Rewrites throughout, adds Finance Director comment and detail.) By Iain Packham Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Oil and gas services company Petrofac Ltd. (PFC.LN) said Thursday that operations are performing in line with expectations and it anticipates order backlog to end
Read moreLondon open: Stocks in the red
24th Jun 2010 08:49
Having posted quick gains at the start, London's top stocks have reversed into the red. Miners are the main instigators for the decline with 9 out of the top ten fallers from the sector. Kazakhmys, Rio Tinto, Eurasian Natural Resources and Fresnillo are the biggest decliners so far. BP said the lo
Read moreLondon pre-open: Early rise expeced
24th Jun 2010 07:40
Footsie is expected to move ahead in early dealings following a late rally in the US last night. BP has issued yet another update on the oil leak, saying the lower marine riser package (LMRP) cap containment system was successfully re-attached on its blow-out well in the Gulf of Mexico. Yesterday,
Read morePetrofac results on track
24th Jun 2010 07:28
Oilfield support services group Petrofac is on track to meet full-year expectations and said it has made good progress on the first phase of its Turkmenistan project. Based on orders secured to date, total backlog is expected to be about $6.9bn at 30 June (31 December 2009: $8.1bn), comprising $5.5
Read morePetrofac Performing In Line, Sees Backlog $6.9B At June 30
24th Jun 2010 07:17
LONDON (Dow Jones)--Petrofac Limited (PFC.LN), an oil and gas services company, said Thursday that backlog is expected to finish the year higher than it began with a June 30 forecast of $6.9 billion compared with $8.1 billion at Dec. 31, 2009. MAIN FACTS: -Operations performing in-line with
Read more