London open: Stocks fall ahead of Greek debt-swap
6th Mar 2012 08:33
- IIF warns of 1trn euro damage to Eurozone. - Fresnillo bucks sector trend to rise after results. - Defensives in demand. With just a couple days to go before the Greek debt-swap deadline, investors were in a cautious mood as the Footsie slipped lower in early trading on Tuesday. Europe is awaiti
Read moreRevenues up by a fifth at Wood Group
6th Mar 2012 07:21
Wood Group's strategy to focus more on its positions in engineering, production facilities support and gas turbine services seems to be paying off, after the group reported strong growth in both profits and revenues in 2011. Profit from continuing operations before tax and exceptionals increased 62
Read moreTuesday preview: Wood Group and Betfair
5th Mar 2012 18:41
Oilfield services behemoth Wood Group is set to release full year results, hot on the heels of sector peer Petrofac, which pleased the market with its figures on Monday. The market is expecting Wood to produce profit before tax of £251.3m on revenue of £4.1bn. Earnings per share are tipped to rise
Read moreWood Group wins Premier Oil contract
27th Feb 2012 08:56
Wood Group, the FTSE 250 enineering firm, has been awarded a major North Sea contract by Premier Oil to deliver integrated operations and maintenance support services to the Balmoral floating production vessel. The contract, estimated to be worth around £250m, will see Wood Group provide managed on
Read moreWood Group secures contract extension with Shell
21st Feb 2012 07:43
Wood Group, the FTSE 250 enineering firm, has secured a contract extension from Shell in the UK to deliver midstream engineering and construction services to two gas plants. The two-year contract, which includes an option for a further two-year extension, is worth £75m and is effective from April
Read moreWood Group wins California contract extension
16th Feb 2012 08:00
Engineering firm Wood Group has been awarded a five-year operations and maintenance contract extension by Sacramento Power Authority (SPA) for the operations and maintenance of their SPA CoGen III facility in California. The extension, worth $25m, brings the life of the contract to a total of 10 y
Read moreSector movers: Oil services stocks jump as crude rises
9th Feb 2012 16:05
Oil equipment, services and distribution stocks were on the rise today, tracking oil prices higher. Brent crude was up 0.47% at $117.75 in mid-afternoon trade on the IntercontinentalExchange on news that Greek leaders have finally reached an agreement over austerity measures. While many say that th
Read moreFTSE 250 movers: SVG Capital rockets 20%
20th Dec 2011 16:13
The big mover of the day was private equity firm SVG Capital, which jumped over 20% after revealing that it return up to £170m to shareholders via share buy-backs and tender offers as part of a new investment strategy. SVG reported that it had strengthened its balance sheet with cash balances stan
Read moreWood Group bags Gulf of Mexico deep water contract
20th Dec 2011 07:35
Mustang, a company owned by FTSE 250 engineering firm Wood Group, has won a contract for a deep water production facility in the Gulf of Mexico. The customer, US outfit Anadarko Petroleum, expects the site to produce 80,000 barrels of oil per day and 450 million standard cubic feet of gas per day.
Read moreLondon close: Financials lead the way higher
15th Dec 2011 16:56
Footsie limped back above the 5,400 level in thin trade, with financial stocks leading the way. OLD MUTUAL SURGES AFTER DISPOSAL South African savings and insurance group Old Mutual was the best performing blue-chip after announcing that it is to sell its Nordic business Skandia AB for £2.1bn in
Read moreFTSE 250 Movers: International Personal Finance in last place
15th Dec 2011 15:07
Doorstep lending firm International Personal Finance (IPF) was in the bottom spot of the FTSE 250 index after it revealed that global economic volatility has taken its toll on the firm's profit and loss account in 2011. The group highlights the significant unpredictability in foreign exchange (FX)
Read moreLondon midday: Old Mutual and miners provide a lift
15th Dec 2011 11:46
The Footsie held on to gains by lunchtime, breaking through the 5,400 level, with strong gains for Old Mutual and the miners lifted London's blue chip index 0.6% higher. In domestic news, the volume of UK retail sales fell by 0.4% in November compared to the month before, according to the latest da
Read moreContract losses hit Wood Group
15th Dec 2011 07:56
Shares in oilfield support services giant Wood Group dropped after the firm admitted international performance for the year ended 31 December will be below expectations. The fall comes as a result of losses on two Wood Group Production Facilities contracts, which the firm was keen to emphasise have
Read moreLondon close: Merkel comments weigh, Footsie pares gains
13th Dec 2011 16:21
London's blue chip index experienced a boost on Tuesday afternoon, helped by a strong Spanish bond auction and a better-than-expected German confidence survey. However, stocks began to retreat late on after some worrying comments from Angela Merkel and rumours of disruption to oil exports in the Per
Read moreSector movers: Petrofac jumps, oil services stocks up
13th Dec 2011 15:28
Petrofac jumped higher on Tuesday afternoon, providing a lift to the oil equipment, services and distribution sector, with constituents making average gains of 3.89%. The FTSE 100 oilfield services firm rose after saying that it expects to deliver like-for-like (LFL) profit growth in 2011 of at lea
Read more