Wood Group confident of meeting full-year expectations
4th Oct 2013 07:35
Oil and gas services company John Wood Group said it is confident of achieving growth in the full year in line with expectations. Its Wood Group Engineering business is anticipated to deliver a 10% to 15% rise in earnings before interest, tax and amortisation (EBITA) in fiscal year 2013. In Upstr
Read moreWood Group's Straughen to step down next year
10th Sep 2013 10:54
Mike Straughen, the Group Director of Wood Group Engineering, has announced that he plans to retire from the board next year. As a result, Straughen, who joined the board in 2007, has been asked to take oversight of the group's HSE activities in the interim, joining the Safety & Assurance committe
Read moreLondon close: Markets finish lower despite late rally
28th Aug 2013 17:05
Markets rallied in afternoon trade on Wednesday, helped by dovish remarks from Bank of England (BoE) Governor Mark Carney and a decent start on Wall Street, but stocks still finished in the red as escalating concerns about Syria continued to dampen sentiment. The FTSE 100 finished down 10.91 points
Read moreLondon midday: Stocks fall as oil rises on Syria turmoil
28th Aug 2013 11:27
Stock markets were once again hit by concerns over rising tensions between Syria and the West on Wednesday morning, as surging oil prices look to pose a threat to global economic growth. West Texas crude futures were trading at a two-year high of $112.24 a barrel this morning while Brent crude jump
Read moreLondon open: Stocks slip as Syrian turmoil hits risk appetite
28th Aug 2013 08:21
The FTSE 100 dropped firmly into the red on Wednesday morning as escalating tensions between Syria and the West spurred a reduction in risk appetite amongst investors. UN weapons inspectors are expected to return to a site in Damascus near where the suspected chemical weapons attack happened last w
Read moreLondon midday: Upbeat data helps stocks rebound from six-week low
22nd Aug 2013 11:41
Better-than-expected data from China and the Eurozone sparked a rebound on equity markets on Thursday morning with the FTSE 100 bouncing off a six-week low despite an underwhelming set of minutes from the Federal Reserve last night. London's benchmark index snapped a three-day losing streak today a
Read moreBroker tips: Wood Group, IMI, Wolseley
22nd Aug 2013 11:04
HSBC has downgraded its stance on Wood Group from 'overweight' to 'neutral' and cut its target price from 900p to 860p, citing a 'more benign medium-term outlook' for the energy services firm. While the bank doesn't think the stock's valuation is demanding, it says that it sees a more balanced risk
Read moreBroker snap: HSBC downgrades Wood Group on 'benign' outlook
22nd Aug 2013 09:11
HSBC has downgraded its stance on Wood Group from 'overweight' to 'neutral' and cut its target price from 900p to 860p, citing a 'more benign medium-term outlook' for the energy services firm. While the bank doesn't think the stock's valuation is demanding, it says that it sees a more balanced risk
Read moreLondon open: Stocks rise as Chinese data offsets Fed uncertainty
22nd Aug 2013 08:38
London's FTSE 100 rebounded strongly from a six-week low on Thursday morning, snapping a three-day losing streak, after economic data showed a surprise return to growth in Chinese manufacturing activity. The HSBC/Markit flash purchasing managers' index (PMI) for the Chinese manufacturing sector imp
Read moreLondon close: Taper concerns hit stocks ahead of Fed minutes
21st Aug 2013 16:50
London's benchmark index dropped one per cent on Wednesday as investors trimmed positions and took cover ahead of the risk event of the week, the minutes of the Federal Open Market Committee (FOMC) meeting due out later this evening. The FTSE 100 ended 62.62 points lower on the day at 6,390.84, a f
Read moreFTSE 100 movers: IHG leads fallers after going ex-div
21st Aug 2013 13:43
Holiday Inn and Crowne Plaza owner InterContinental Hotels Group was a heavy faller on Wednesday, dropping over six per cent after going ex-dividend, meaning that new investors won't be able to get their hands on the company's latest dividend payment. A number of other heavyweight stocks also went
Read moreWednesday tips round-up: India, James Fisher&Sons, Wood Group
21st Aug 2013 07:32
Given the tidal wave of speculative money being pulled out of India and other emerging markets, the wonder, if anything, is that the Mumbai market has not fallen further, writes The Times´s Tempus. However, in the short-term Indian shares look deeply vulnerable and vehicles which invest in the sub-c
Read moreLondon close: Markets finish lower despite late rally
20th Aug 2013 16:39
Markets slumped to a six-week low on Tuesday as investors trimmed positions and scaled back risk appetite ahead of minutes of the latest US policy meeting due out tomorrow. The FTSE 100 dropped to an intraday low of around 6,400 early on after a series of disappointing corporate earnings, but ralli
Read moreFTSE 100 movers: Wood Group, CRH, Miners
20th Aug 2013 15:03
Wood Group was in the bottom spot after it warned problems with its Canadian business would have an impact on earnings growth. The group said it was scaling back its full-year EBITA growth guidance for its engineering division from 15% to 10-15%, reflecting some project delays and further weakenin
Read moreSector movers: Oil-services sector falls as Wood Group disappoints
20th Aug 2013 14:25
The oil-services sector was out of favour on Tuesday, pulling back after a sharp rise the day before, as disappointing results from blue-chip firm Wood Group dampened sentiment. Wood Group, one of the largest companies in the sector with a market capitalisation of around £3.4bn (as of yesterday's c
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