Broker snap: RBS upgrades Petrofac
10th Mar 2010 11:04
Royal Bank of Scotland (RBS) has mulled over the record numbers announced by oil and gas plant provider Petrofac and determined that they warrant an upgrade in the broker's rating of the stock. RBS has upgraded the stock from 'hold' to 'buy' and beefed up its price target to 1230p from 1025p after
Read moreTuesday tips round-up: Capita, Bovis, Tullett Prebon
9th Mar 2010 06:43
Recent full-year results from Capita were decidedly mixed - with the market particularly concerned about a slowdown in organic growth at the company in 2009 and 2010. However, the dire state of the British Government's finances mean the opportunities for this outsourcing business over the next few
Read moreLondon close: Shares end with small gains
8th Mar 2010 17:14
London's top stocks ended the day with small gains after trading in a very tight range all day as shares paused for breath following last week's good gains. Oil fabrications giant Petrofac was one of the day's major bright spot after it made a bit more than expected last year, with after tax profit
Read moreLondon afternoon: Footsie still seeking direction
8th Mar 2010 14:56
Footsie continues sitting around the 5,600 point mark as shares pause for breath following last week's good gains. Oil fabrications giant Petrofac is today's major bright spot after it made a bit more than expected last year, with after tax profit up 37%, and hiked the dividend by an impressive 41%
Read moreFTSE 100 movers: Petrofac continues its rise
8th Mar 2010 14:46
It is a mixed day for the Footsie with financials heading the better performers, although there are also financial and property companies included in the poorer performers. Oil services provider Petrofac continues to rise following last week's news of the demerger of its oil and gas exploration as
Read moreBroker snap: Petrofac demerger clouds picture
8th Mar 2010 12:44
Petrofac was the best performing blue-chip stock on Monday morning after the oil fabrications giant reported results that were ahead of expectations. In mid-December the company had indicated that net income for 2009 would be at least $330m and it comfortably beat that figure with net income of $35
Read moreLondon midday:Stuck in neutral
8th Mar 2010 12:21
The market trod water throughout the morning session in the absence of any economic data or corporate news to set the pulses raising. Oil fabrications giant Petrofac is today's major bright spot after it made a bit more than expected last year, with after tax profit up 37%, and hiked the dividend b
Read moreLondon open: Footsie edges higher
8th Mar 2010 08:24
Footsie has edged past the 5,600 point mark in early dealings, having already reached that level for the first time in 18 months late last week. Oil fabrications giant Petrofac made a bit more than expected last year, with after tax profit up 37%, and hiked the dividend by an impressive 41%. Profit
Read moreLondon pre-open: Strong start expected
8th Mar 2010 07:39
Footsie is expected to move higher in early dealings having hit 5,600 points for the first time in 18 months at the end of last week. Oil fabrications giant Petrofac made a bit more than expected last year, with after tax profit up 37%, and hiked the dividend by an impressive 41%. Profit after tax
Read morePetrofac delivers record numbers
8th Mar 2010 07:03
Oil fabrications giant Petrofac made a bit more than expected last year, with after tax profit up 37%, and hiked the dividend by an impressive 41%. Profit after tax jumped to $363m from $265m in 2008, slightly better than expected, while the pre-tax figure rose 25% to $447.5m. Revenue increased by
Read moreLondon close: Footsie suffers hiccup
4th Mar 2010 16:40
The blue chip index failed to stretch its winning streak to a fifth session, falling for the first time this week on negative results reaction and downbeat miners. It held above 5,500 all day despite coming close just after trade began and towards the end of play. Engineering and project managemen
Read moreLondon afternoon: Stocks are becalmed
4th Mar 2010 14:13
It's been an up and down day for the blue-chip index although the Footsie has rarely strayed far from its overnight level. As expected, the Bank of England has held interest rates at 0.5% and taken no further action on quantitative easing (QE) amid conflicting signals over the state of the UK econo
Read moreLondon midday: Footsie drifting sideways
4th Mar 2010 12:13
Footsie is trading sideways after the Bank of England decided on no change to its stance on interest rates and quantitative easing. UK interest rates stay at 0.5% and the QE programme at £200bn. On the company front, results are dominating. Engineering and project management firm Amec is worst of t
Read moreLondon open: Footsie struggles early on
4th Mar 2010 08:30
A four-day winning streak could end Thursday after a poor start following last night's late sell-off on Wall Street, weaker miners and some disappointing company results. Engineering and project management firm Amec is worst of the blue chips as investors react badly to a 3% slip in revenues, or 12
Read moreLondon pre-open: Wall Street casts a shadow
4th Mar 2010 07:40
After the late sell off in New York yesterday London shares look set to open lower, with the FTSE 100 tipped to threaten a move back below 5500 after closing at 5533 last night. Corporate news flow from the big names is mostly good, however. Leisure group Whitbread has issued another upbeat tradin
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