London pre-open: Markets to extend losses following sell-off
6th Jun 2013 07:57
Markets are expected to open lower on Thursday following a dramatic sell-off the day before as traders continue to show caution ahead of the all-important US jobs report tomorrow. City sources predict the FTSE 100 will open down four points from yesterday's close of 6.419. The index dropped a total
Read moreWood Group wins contract with Dow Chemical Company
6th Jun 2013 07:07
Multinational oil and gas services company Wood Group has landed a contract with The Dow Chemical Company for construction of an ethylene unit in Texas. The group will provide services for construction of around 140 miles of ethane, ethylene, propane and propylene pipelines, associated interconnect
Read moreLondon midday: Miners buoy markets ahead of US GDP
30th May 2013 11:21
The FTSE 100 was making meagre gains on Thursday morning as sentiment remained fragile following the sell-off the day before, with investors taking caution ahead of some key economic indicators. Global economic concerns sent London's top-tier index down 2.0% on Wednesday after the OECD slashed its
Read moreBroker tips: Tesco, Wood Group, Tate & Lyle
30th May 2013 10:55
JPMorgan Cazenove has downgraded its rating for supermarket giant Tesco from 'overweight' to 'neutral' and slashed its target price from 425p to 390p, saying that sector fundamentals are weighing on the investment case. The broker said that the basis for its move was to be "more consistent with ou
Read moreBroker snap: Morgan Stanley upgrades Wood Group to 'overweight'
30th May 2013 10:15
Shares in Wood Group were performing well on Thursday morning after Morgan Stanley upgraded its rating on the stock from 'equal weight' to 'overweight' despite taking a more cautious view on the wider oil services sector. The broker lowered its sector view on the whole to 'in-line', saying that it
Read moreLondon close: Stimulus hopes drive triple-digit gains for FTSE 100
28th May 2013 16:49
While hopes have now faded for a long-term continuation of stimulus measures in the US, speculation surrounding continued monetary easing in Europe and Japan sparked a huge surge on equity markets on Tuesday. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter par
Read moreLondon midday: Stocks bounce back after recent sell-off
28th May 2013 11:20
UK markets were registering impressive gains on Tuesday morning with hopes of continued monetary easing in the Eurozone lifting sentiment as stocks bounced back following last week's sharp sell-off. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last
Read moreLondon open: Stocks surge as markets play catch up after long weekend
28th May 2013 08:30
UK markets surged in early trading on Tuesday with traders wasting no time in playing catch up as they returned to their desks following the three-day weekend. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last week on fears of a scaling back of stim
Read moreLondon pre-open: Strong gains expected after long weekend
28th May 2013 07:25
Following last week's heavy losses, markets are expected to open with strong gains on Tuesday morning as traders in the UK and US return to their desks after a long weekend. City sources predict the FTSE 100 will open up over 60 points from Friday's close of 6,654. Senior Market Analyst Michael He
Read moreWood Group wins contract extension
28th May 2013 07:04
FTSE 100 energy services giant Wood Group has announced that its PSN business (WGPSN) will continue to provide duty holder and asset management services to the Hummingbird Spirit floating storage offloading production (FPSO) vessel, under a new contract extension from Teekay. Beginning April this
Read moreWood Group Chairman sells 250,000 shares
23rd May 2013 16:24
The Chairman of Wood Group has traded in 2.1m pounds-worth of shares in the group. Allister Langlands sold, on behalf of his wife, 250,000 shares 846p each. The deal was announced on the same day the FTSE 100 energy services giant announced its PSN business has scored a contract to deliver oper
Read moreLondon pre-open: FTSE 100 set to plunge after Bernanke speech
23rd May 2013 07:10
City sources predict the FTSE 100 will open down 125 points from yesterday's close of 6,840, after US Federal Reserve Chairman Ben Bernanke delivered his highly-anticipated speech to Congress last night. He said tightening monetary policy or raising interest rates too soon would hinder recovery in
Read moreWood Group PSN awarded five-year contract in Gulf of Mexico
23rd May 2013 07:01
Wood Group, the FTSE 100 energy services giant, has announced its PSN business has scored a contract to deliver operations and maintenance services to Hess Corporation's Baldpate production platform in the deepwater Gulf of Mexico, under a new five-year agreement. The company will also provide the
Read moreFTSE 100 movers: Aviva leads the way higher on turnaround strategy
16th May 2013 14:39
Insurance group Aviva, was leading the risers after it said it is delivering on its turnaround strategy. The company's pro-forma value of new business, a key measure of its growth, was up 18% in the first quarter at £191m from £162m the year before, driven by improved profitability in UK life insu
Read moreWood Group upbeat despite delays in GTS business - UPDATE
15th May 2013 08:07
Wood Group, the FTSE 100 energy services giant, has reported group progress in the year-to-date and said at its annual general meeting that it is confident of achieving full year performance in line with expectations. However, Wood Group GTS is currently behind plan, although this is anticipated to
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