London midday: FTSE 100 turns lower
14th Feb 2011 12:13
The top share index is slightly under pressure now though there is some excitement among oil-related stocks in the mid-cap index. Shares in John Wood have roared ahead after the oilfield services group said it is returning money to shareholders, and is to pay out $1.7bn after it agreed to sell it
Read moreLondon open: Egypt gives early boost
14th Feb 2011 08:45
The departure of Egypt's president Hosni Mubarak and gains on Asian markets have given Footsie an early lift. Miners are going well after strong trade figures from China. Xstrata and Rio Tinto lead the sector higher. Reports that China's inflation numbers tomorrow may be better than expected has a
Read moreLondon pre-open: Egyptian afterglow still evident
14th Feb 2011 07:46
The boost given to stock markets by the departure of Egypt's president Hosni Mubarak is still evident, with London set to open the week on a firm footing. City traders expect the FTSE 100 index to open around 20 points higher. Engine maker Rolls-Royce has won a $2.2bn (£1.4bn) contract with Emirate
Read moreWood to return $1.7bn after well support sale
14th Feb 2011 07:11
Oil services specialist Wood Group is to return $1.7bn to shareholders after it agreed to sell its Well Support division to US giant GE for $2.8bn cash. Net proceeds are estimated at $2.6bn. For the year ended 31 December 2010, the Well Support Division had revenues of $947.1m and underlying earnin
Read moreFTSE 250 movers: Imagination Tech rises higher
14th Dec 2010 15:09
Chipmaker Imagination Technologies is on the rise after it announced, alongside its half year results, that it would buy Caustic Graphics for $27m to bring 3D graphics to mobile phones. Imagination posted record half-year revenues and profits after strong growth from both licensing and royalties. A
Read moreFTSE 250 movers: Acquisitions excite investors
13th Dec 2010 16:59
Acquisition activity lifted the market higher Monday led by Yule Catto & Co, John Wood Group and Wellstream Holdings. Shares in chemicals group Yule Catto leapt ahead as it unveiled the acquisition of German group PolymerLatex for €157m (£133m) and promised big efficiency benefits from the deal. A
Read moreLondon close: One-month high for Footsie
13th Dec 2010 16:33
More than £2bn of merger and acquisition activity got pulses racing in City dealing rooms, combining with strong miners and gains on Wall Street to send London to its highest in a month. Oilfield services group Wood Group is forking out $955m (£607m) for rival PSN, which it will merge with its prod
Read moreLondon afternoon: Footsie maintains lead
13th Dec 2010 15:04
Blue chips are trading not far off their best levels of the day, still led by mining stocks and supported by a decent start on Wall Street. A rash of merger and acquisition activity over here is replicated in the US, getting investors in buying mood in the absence of any major economic news. Oilfi
Read moreLondon midday: Shares still ahead
13th Dec 2010 12:10
Shares remain buoyant, with oilfield services stocks in the spotlight amid some well-received news from the sector. Wood Group expects results this year to be slightly ahead of expectations. The Aberdeen-based firm saw continued progress at most of its key divisions. Its engineering unit secured a
Read moreLondon open: Healthy start for blue chips
13th Dec 2010 08:42
London has made decent progress in early dealings with oil services groups lifting the mood. Wood Group expects results this year to be slightly ahead of expectations. The Aberdeen-based firm saw continued progress at most of its key divisions. Its Engineering unit secured a number of awards durin
Read moreLondon pre-open: Decent start predicted
13th Dec 2010 07:34
London is expected to make decent progress in early dealings with futures pointing to gains of about 30 points for Footsie from its Friday close of 5,813. Oilfield services firm Wood Group expects results for the year to 31 December 2010 to be slightly ahead of expectations. The Aberdeen-based firm
Read moreWood Group pays over £600m for PSN
13th Dec 2010 07:13
Oilfield services firm Wood Group is buying rival PSN for $955m (£607m) as it beefs up its global reach. PSN will be merged with Wood's production facilities business, creating Wood Group PSN. It will be run by PSN's chief executive Bob Keiller who'll also join the board. The firm was formed in Ma
Read moreLondon close: Higher finish for sluggish Footsie
10th Dec 2010 16:40
Footsie limped into the blue heading into the weekend after a day in which foreign economic news was the main point of interest. Miners were the centre of attention after strong Chinese import figures demonstrated the Asian economic powerhouse's thirst for commodities. Imports jumped to 37.7% from
Read moreLondon afternoon: Footsie still sluggish after mixed US start
10th Dec 2010 15:18
A mixed start on Wall Street has failed to lift Footsie out of its early sluggishness. Miners are going well though, after strong Chinese import figures demonstrated the Asian economic powerhouse's thirst for commodities. Imports jumped to 37.7% from 24.2%. Vedanta, Fresnillo and ENRC are among th
Read moreLondon midday: Miners advance after China export data
10th Dec 2010 12:09
Traders will be looking ahead to the US open for guidance now on a sluggish day on the equity markets. The mining sector is a strong performer, after strong Chinese import figures demonstrated the Asian economic powerhouse's thirst for commodities, sending metals prices higher. Imports jumped to 37
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