London midday: Marking time
30th Jun 2009 12:10
Leading equities are treading water on the last day of the month, quarter and half-year. Wolseley is one of the best performers after chief executive Chip Hornsby stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. Hornsby, who leaves after 27 years
Read moreSector movers: Oil service stocks in demand
30th Jun 2009 10:53
Oil services stocks are going well after Petrofac said it has made a good start to the year and is confident 2009 will be another year of strong growth. Petrofac itself is slightly in the red though. Engineer Bateman Litwin is the top riser, helped by higher oil prices, with the price of a barrel o
Read moreLondon open: Blue chips head south
30th Jun 2009 08:54
London has opened lower despite a good showing on Wall Street overnight and interest in the banks this morning. Wolseley is the best performer as chief executive Chip Hornsby has stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. Hornsby, who leaves
Read moreLondon pre-open: Flat start predicted
30th Jun 2009 07:40
Expect London to open little changed if futures prices are anything to go by after Wall Street maintained its healthy lead through to the close last night. Wolseley chief executive Chip Hornsby has stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. H
Read morePetrofac makes good start
30th Jun 2009 07:19
Oil & gas facilities service provider Petrofac said it has had a good start to the year and is confident 2009 will be another year of strong growth. In Engineering & Construction, the group said it is on course to deliver in line with expectations the $5bn of new contract awards secured in the fir
Read moreSector movers: Oil services stocks wanted
26th Jun 2009 11:28
Oil services group Petrofac, lifted yesterday by talk it may be taken over, is helping lift the oil equipment services sector higher. Velosi is top of the pile though. The oil rig safety consultant said on Wednesday that it had made a good start to 2009. Telecommunications stocks are out of favou
Read moreSector movers: Miners hit hardest
15th Jun 2009 11:01
It's a sea of red Monday as Mining heads a widespread sell-off. Lonmin has lost over 7% after shutting down its Number One furnace. The platinum miner's initial estimate is that a full repair could take around 30 days Rivals joined the retreat as metal prices tanked. Rio Tinto, Xstrata, Eurasian N
Read moreSunday tips round-up: Petrofac, Hardy Underwriting, BP
14th Jun 2009 10:33
Things just seem to be getting better and better for oil services group Petrofac says the Telegraph. The group designs, builds and operates oil and gas facilities as well as trains personnel and develops exploration and production projects. The company has more than doubled its backlog this year t
Read moreSunday tips round-up: SSE, Compass, Tate & Lyle
24th May 2009 10:17
Shares in Scottish & Southern Energy are not going to leap and make you rich. There is likely to be a slow progression in its share price. There is one reason and one reason alone to hold the shares - and that is for a steady income stream and because of its commitment to a progressive dividend, S
Read moreLondon close: Footsie ends on low note
15th May 2009 16:29
London closed lower after a lacklustre afternoon session with losses on properties and travel companies outweighing gains on miners. Shocking figures from property giant Land Securities on Wednesday still cast a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lowe
Read moreLondon afternoon: Travel companies trip Footsie
15th May 2009 14:10
London continues its gentle downward drift, with losses on properties and travel companies outweighing gains on miners. The market seems unlikely to get any sort of lift from Wall Street which is expected to open moderately weaker. Shocking figures from property giant Land Securities on Wednesday
Read moreSector movers: Petrofac lifts oil service stocks
15th May 2009 13:42
Oil services stocks are in the blue after Petrofac said it made a strong start to the year, with the oil and gas facilities provider's backlog doubling to $8.2bn at the end of April. Chairman Rodney Chase is confident 2009 will be another year of strong growth after its biggest business, engineerin
Read moreLondon midday: Rally stalls
15th May 2009 12:15
Weak properties and oils have pitched the Footsie into the red, despite the continued strength of banks and miners. Shocking figures from property giant Land Securities on Wednesday are still casting a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lower but Hammer
Read moreLondon open: Banks give Footsie a boost
15th May 2009 08:48
Banks have helped Footsie make a bright start with reports that Barclays is considering new offers for its iShares arm boosting the whole sector. Barclays may backtrack on a deal to sell its iShares unit to CVC, the private equity group, and instead offload its entire asset management division for
Read moreLondon pre-open: Rally set to continue
15th May 2009 07:41
The surge seen in London late in yesterday's trading session looks set to continue this morning, with City sources predicting the FTSE 100 will open around 17 points higher than the previous close of 4,363. Petrofac has made a strong start to the year, chairman Rodney Chase will tell shareholders a
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