Morgan Stanley expects more capex cuts in Oil&Gas, downgrades Rotork
6th Apr 2016 13:41
(ShareCast News) - Cuts to capital expenditure budgets in the Oil&Gas space had only just begun and were beginning to filter through from the 'Upstream' segment into Mid and Downstream activities, Morgan Stanley said. There had been about $90bn of recent deferrals announced, the broker pointed out.
Read moreMoody's cuts Weir's credit rating as weak oil weighs on end markets
29th Feb 2016 15:40
(ShareCast News) - Moody's downgraded the long-term ratings of engineer Weir Group to Baa3 from Baa1, keeping the outlook at negative. The ratings agency said Weir was battling a severe downturn in its mining and oil and gas end markets due to "unprecedentedly low" base metals and oil prices, which
Read moreFTSE 250 movers: Oil prices help producers and service providers surge
26th Feb 2016 15:05
(ShareCast News) - The FTSE 250 was in the black by mid-afternoon on Friday, up 173.01 points (1.05%) to 16,572.08. Oil producers and service companies featured heavily on the risers, as oil prices continued to rebound. At 1527 GMT, West Texas Intermediate was up 1.64% to $33.62, while Brent crude
Read moreThursday newspaper share tips: Current housing climate makes Barratt a good deal
25th Feb 2016 11:14
(ShareCast News) - The Times' Tempus believed the success of Barratt Developments, especially in the current housing climate, is a good reason to 'buy'. The FTSE 100 construction group generated £295m pre-tax profit in the six months to the calendar year end, an increase of 40.3% on revenues that ro
Read moreWeir Group posts 46% decline in pre-tax profit
24th Feb 2016 07:10
(ShareCast News) - Unprecedented market challenges saw revenue and earnings take a tumble at Weir Group in the year to 1 January. The FTSE 250 engineering group, which published its annual results on Wednesday, saw revenue slide 21% on a reported basis to £1.92bn, from £2.44bn. On a constant currenc
Read moreSunday share tips: Weir Group, Centrica, Constellation Healthcare
21st Feb 2016 15:14
(ShareCast News) - Sell shares in Weir Group, said the Sunday Times 'Inside the City' column. The Glaswegian pumps and valves manufacturer enjoyed the boom of the US fracking industry while its shares topped £25 for most of 2014, they entered 2015 at less than £18 and exited at £10. The shale tale i
Read moreFTSE 250 miners: Metals and oil stocks rebound
12th Feb 2016 15:08
(ShareCast News) - The FTSE 250 was in the black on Friday, with the index up 231.28 points (1.52%) to 15,410.08 by mid-afternoon. Miners featured at the top of the risers list as metal prices rebounded, with shares in Vedanta Resources up nearly 8% as a result. The company also said it is cutting
Read moreFTSE 250 movers: Market turns on US job data
5th Feb 2016 15:43
(ShareCast News) - The FTSE 250 was still in the green mid-afternoon on Friday by 10.29 points (0.06%) at 6,097.02, but the second-tier market was tracking downwards. Just Eat led the risers after it revealed it had ordered four online takeaway food businesses in Spain, Italy, Brazil and Mexico for
Read moreFTSE 250 movers: IMI downgrade sees market dip into red
25th Jan 2016 15:11
(ShareCast News) - The FTSE 250 was flip-flopping between the black and the red on Monday, with the second-tier market relatively flat by mid-afternoon, down just 9.12 points (0.06%) to 16,118.87. IMI took the biggest hit after Credit Suisse downgraded the engineer from 'neutral' to 'underperform' a
Read moreFTSE 250 movers: Oil prices help market stay mostly in the black
13th Jan 2016 15:23
(ShareCast News) - The FTSE 250 was in the black for most of Wednesday, before a sharp fall late in the afternoon sent it into the red. The second-tier market was down 2.79 points (0.02%) to 16,685.12 under an hour before the market was due to close. Oil and gas producers and service providers were
Read moreSaudi Arabia to keep up pressure on high-cost producers, oil futures slump
30th Dec 2015 13:25
(ShareCast News) - Saudi Arabia would not let up the pressure on high-cost oil producers in a bid to maintain its share of the market, the country's energy minister said on Wednesday. "We will satisfy the demand of our customers. We no longer limit production. If there is demand, we will respond. We
Read moreFTSE 250 movers: Oil prices weigh on market
11th Dec 2015 15:25
(ShareCast News) - With only two weeks to Christmas, the FTSE 250 wasn't feeling very festive on Friday after it fell 159.12 point (0.93%) to 16,921.13 by mid-afternoon. Oil stocks weighed on the second-tier market as oil prices hit new lows on Friday. Brent hit a seven-year low at $38.84, while Wes
Read moreHSBC downgrades Weir as oil and gas markets deteriorate
1st Dec 2015 14:55
(ShareCast News) - HSBC downgraded Weir to 'reduce' from 'hold' and slashed the price target to 1,000p from 1,300p after what it saw as a further deterioration in conditions in oil and gas markets. It also pointed to a strong decline in aftermarket order intake and low oil prices taking a toll on th
Read moreFTSE 250 movers: Drax powers ahead but Sophos slumps on stake sale
1st Dec 2015 14:16
(ShareCast News) - London's FTSE 250 index was up 0.5% to 17,507.03 at 1435 GMT, tracking the broader market as investors cheered news that Britain's big banks had passed the Bank of England's stress tests. Shares in Drax powered ahead after the European Commission approved the UK government's suppo
Read moreFriday broker round-up
13th Nov 2015 09:23
(ShareCast News) - Spire Healthcare Group: JP Morgan Cazenove downgrades to neutral, cuts target price to 310.00p. Weir Group: Deutsche upgrades to buy, bumps down target price to 1360.00p. Imi: JP Morgan Cazenove downgrades to neutral, reduces target price to 930.00p. SABMiller: Berenberg Bank do
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