Petrofac ups divi as profits rise
24th Aug 2009 07:05
Oil services group Petrofac lifted its dividend for the six months to June 30 as revenues and profits rose in spite on the sharp drop in oil prices from the same period the previous year. It will pay out 10.7 cents a share, compared with 7.5 cents for the previous half year period. Pre-tax profits
Read moreLondon close: US optimism lifts blue chips
13th Aug 2009 16:32
Optimism over the state of the US economy, fuelled by yesterday's statement from the Federal Reserve helped Footsie post good gains. Miners were in demand. Kazakhmys led the mining sector higher, with Xstrata, Lonmin, ENRC, Rio Tinto, Vedanta, and Antofagasta also going well. Anglo American is
Read morePetrofac updates on Don Development
10th Aug 2009 08:00
Petrofac, oil & gas facilities service provider, gave an update on the status of its Don Development project and said its now expects gross oil production this year will amount to between 3m-5m barrels. "The range in this estimate accounts for potential weather-related interruption to remaining we
Read moreLondon close: Footsie ends at 10-month high
3rd Aug 2009 16:16
Blue chips closed at their highest since early October as investors piled into heavyweight miners and the big banks, although the index failed to hold above 4,700. Oil services specialist Petrofac was in pole position after UBS upgraded the shares to 'buy' and its target price to £10. Crude prices
Read moreLondon afternoon: Banks dominate as Footsie rises
3rd Aug 2009 14:50
Footsie is still well in the blue with HSBC and Barclays leading the way and a decent start on Wall Street helping the mood. HSBC posted a profit before tax of $5bn during the period, down from $10.2bn a year ago, but just ahead of forecasts. It said it is 'pleased' with the results. Barclays deli
Read moreBroker snap: Petrofac contracts cheer UBS
3rd Aug 2009 12:41
UBS likes the look of Petrofac's strong pipeline of contract bids and upgrades its rating on the oil services group to 'buy' from 'neutral'. Recent Petrofac contracts include a 48-month gas development contract in Abu Dhabi and a gas compression project in Oman worth in excess of $350m. UBS has li
Read moreLondon close: Meek end to bumper week
31st Jul 2009 16:23
Blue chips ended a near-record breaking week on a low note. Footsie closed down sharply after disappointing second quarter consumer spending figures in the US. Insurers lead the market lower ahead of the sector's results season. Standard Life, Old Mutual, RSA Insurance, Friends Provident and Leg
Read moreLondon afternoon: US consumer spending casts pall
31st Jul 2009 14:10
The Footise dropped sharply after disappointing second quarter consumer spending figures in the US. Insurers lead the market lower ahead of the sector's results season. Standard Life, Old Mutual, RSA Insurance, Friends Provident and Legal & General are the worst performers among life assurance s
Read moreLondon midday: Equities move sideways
31st Jul 2009 12:06
Leading shares remain mixed but with a slight bias to the upside, helped by improved sentiment towards travel stocks. British Airways is a bright spot after making some positive noises to accompany its first quarter results. "While traffic volumes are down considerably compared to last year, they h
Read moreFriday tips round-up: Autonomy, Mothercare, Petrofac
17th Jul 2009 06:47
Autonomy's numbers were undoubtedly impressive: pre-tax profits were up a record 64% on this time last year, earnings per share leapt 61%, and revenues jumped 55%. The chief executive Mike Lynch said the group would rather be cautious on the future and build expectations as the year goes on, but w
Read moreLondon close: Footsie continues winning week
16th Jul 2009 16:36
London made it four positive sessions in a row Thursday as some better banks and strength at Petrofac offset largely weaker miners and a big drop at Autonomy. There was little help from Wall Street though, which was trading flat when the City shut up shop. The FTSE 100 has made up about 260 points
Read moreLondon afternoon: Advance gains momentum
16th Jul 2009 15:08
Footsie looks set to make it four days of rises in a row, with a firmer start on Wall Street giving an additional boost in the afternoon session. Risers outnumber fallers by three to one but among the fallers is data search software firm Autonomy, despite registering its 25th consecutive quarter of
Read moreLondon midday: Market rises but Autonomy disappoints
16th Jul 2009 11:53
London's blue-chip index has limped back into positive territory, despite weakness from the heavily weighted mining sector. Data search software firm Autonomy has registered its 25th consecutive quarter of year-on-year growth. Citigroup thought the results were "solid" and took "most of the bear a
Read moreFTSE 100 movers: Autonomy still favoured despite share slide
16th Jul 2009 11:15
Shares in Autonomy are the worst performers today after a poor reception to its second quarter figures. Revenues in the three months to 30 June rose to $195.2m from $125.7m a year earlier, while adjusted profit before tax, which excludes various charges, climbed to $89.6m from $50.8m. Broker UBS
Read moreSector movers: Petrofac lifts oil equipment stocks
16th Jul 2009 11:08
Only two oil equipment and services stocks are in the blue but their gains are enough to lift the whole sector. One of these is Petrofac, which has been awarded a 48-month as development in Abu Dhabi. The international oil and gas services provider's 50% owned joint venture, Petrofac Emirates, has
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