Petrofac Emirates JV wins first contract
16th Jul 2009 08:16
Petrofac has been awarded a 48-month gas development contract in Abu Dhabi. The international oil and gas services provider’s 50% owned joint venture, Petrofac Emirates, has received a letter of award from GASCO for the construction of the fourt natural gas liquid train at the Ruwais complex in Abu
Read moreWednesday tips round-up: Michael Page, Big Yellow, Cape
8th Jul 2009 06:44
Recruiter Michael Page issued its first-half trading update yesterday, saying that second-quarter profit fell by 45% to £83.8m. Perhaps more worryingly for investors is that it does not see things improving before the start of next year. The Independent dislikes the whole sector and believes the ris
Read moreLondon close: Stocks tread water
3rd Jul 2009 17:12
A late swoon saw Footsie relinquish virtually all of its gains, with losses on resource stocks counter-balancing gains made by banks. Barclays, Royal Bank of Scotland, HSBC and Lloyds Banking were the pick of the banking sector, despite chancellor Alistair Darling firing a warning about the re-eme
Read moreLondon afternoon: Banks lead the fight back
3rd Jul 2009 14:30
Share prices are creeping higher after yesterday's heavy falls, with banking stocks leading the fight back. Barclays, HSBA and Lloyds Banking lead the banking sector higher while insurers such as Aviva and Legal & General are also wanted. An exception to the general strength of insurers is Friends
Read moreLondon midday: Shares remain dull
3rd Jul 2009 12:02
Trading remains quiet in London, today after yesterday's excitement following dismal US unemployment figures. Friends Provident is the worst performing blue-chip as the market adjusts its share price to take account the demerger of its 52% stake in F&C Asset Management. Resource stocks are friendl
Read moreLondon close: Heavy losses for Footsie
2nd Jul 2009 16:37
Footsie closed the day nursing triple-digit losses as investors took fright following poor US monthly jobs figures. WPP was the day's worst performer as Citigroup downgraded the UK advertising firm to sell from hold, saying a continuation of the trends in the second quarter would suggest a 7.5% org
Read moreLondon afternoon: Slide accelerates after US open
2nd Jul 2009 15:00
Investors are bailing out of equities in the US ahead of the long holiday week-end in the States, prompting the decline in UK equities to pick up pace. Rio Tinto is the day's worst performer despite a strong response to its $15.2bn rights issue. Shareholders have taken up 96.97% of the shares offer
Read moreFTSE 100 movers: Miners hit by market wobble
2nd Jul 2009 14:27
Miners have run into more prpfit taking following very weak US jobs numbers. Rio Tinto, BHP Billiton and Anglo American lead the sector lower on fears that the US economy is struggling to turn around. US job losses showed unemployment rising to 9.5%, while the number of people losing their jobs ros
Read moreLondon midday: Struggle for blue chips
2nd Jul 2009 12:11
London's top stocks are struggling to make headway with the index heading back down as buyers sit on the sidelines. London Stock Exchange is the biggest faller after it announced a new pricing scheme yesterday. The stock market operator says the new tariff would have resulted in £3m worth of tradin
Read moreLondon open: Footsie starts down
2nd Jul 2009 08:18
London's top stocks have dropped in early dealings Thursday after Wall Street steadily declined from morning highs on Wednesday. Rio Tinto shareholders have taken up 96.97% of the shares offered to them as part of the miner's $15.2bn fully underwritten rights issue. The group said on Thursday it r
Read moreLondon pre-open: Drop likely as US gains slashed
2nd Jul 2009 07:42
Wall Street's steady decline from morning highs on Wednesday is likely to leave London lower in early trade. Futures prices are currently indicating an initial deficit of about 25 points. Rio Tinto shareholders have taken up 96.97% of the shares offered to them as part of the miner's $15.2bn fully
Read morePetrofac wins Omani contract
2nd Jul 2009 07:14
Oilfield support services firm Petrofac has landed a gas compression project worth in excess of $350m. Petroleum Development Oman (PDO) has awarded Petrofac a contract for the Kauther gas-field depletion-compression project. Petrofac will perform the procurement, engineering and construction of th
Read morePetrofac's North Sea field starts production
1st Jul 2009 07:37
Oil & gas facilities service provider Petrofac said production has started at its Don Southwest field in the North Sea. Petrofac Energy Developments is operator of the Don Southwest (Don SW) field with a 60% interest, with Valiant Petroleum owning the remainder. The first well in the field has alr
Read moreLondon close: US economic data hits Footsie
30th Jun 2009 16:26
It looked like another flat day for the FTSE 100 heading into the second half of the year until shares took a sharp dive following some unappetizing economic date in the US. The US Conference Board's index of consumer sentiment fell to 49.3 in June, down from a revised 54.8 in May. Economists had b
Read moreLondon afternoon: Prices drift lower
30th Jun 2009 15:24
London continues to sleepwalk to the end of the month, with prices drifting lower in light trading after Wall Street opened in negative territory. With the oil futures contract edging steadily higher, heavy fuel users such as airline British Airways and cruise operator Carnival are on the slide. I
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