Wood Group steady despite project delays
12th May 2010 08:15
Wood Group says not much has changed since its 2009 results announcement at the beginning of March, and the energy sector services firm thinks 2010 will be in line with expectations. "We are continuing to deliver a robust overall performance from our production support related activities, and the
Read moreLondon close:Equities advance on broad front
20th Apr 2010 17:11
London brought its two day losing streak to an end today, despite a mixed reception to the day's major company announcements and a disappointing set of inflation figures. A sharp rise in fuel costs was responsible for much of the acceleration in the inflation rate, which climbed to 3.4% from 3% in
Read moreLondon afternoon: Tesco heads small band of fallers
20th Apr 2010 14:13
The blue-chip index shuffled sideways over the lunch time session with not even expectations of a firm opening on Wall Street encouraging buyers to commit further. Earlier in the day sentiment had received a knock from worse than expected inflation data. A sharp rise in fuel costs was responsible f
Read moreWood Group wins BP Shetland contract
18th Mar 2010 12:03
Oil giant BP has reappointed oil services group Wood Group to provide engineering, modification and maintenance to its Sullom Voe Terminal in Shetland. The contract, worth about £25m, will last for three years, with two one-year extension options. Wood Group said the contract would secure employme
Read moreBroker tips: Michael Page, Amec, Wood Group...
5th Mar 2010 12:50
Michael Page fell back Friday following a mixed response to an 85% slump in profits at the recruiter last year. KBC Peel Hunt says adjusted profit before tax of £21.1m, down from £140m in 2008, was slightly ahead of expectations. "The balance sheet remains robust and the company maintains an exc
Read moreBroker snap: Nomura still keen on Amec
5th Mar 2010 12:07
Nomura has cut its target price on engineer Amec but still prefers the stock over fellow engineering-focused company Wood Group. The broker notes that Amec's full year report disappointed the market and has cut its target price on the stock to 915p from 950p. 'On our numbers, there is little to di
Read moreLondon close: Insurers left behind
2nd Mar 2010 17:07
A firm start on Wall Street gave fresh heart to UK equities, with financial stocks to the fore, with the notable exception of insurers. Ahead of results tomorrow Standard Chartered was wanted in a buoyant banking sector while elsewhere in the financial sector property groups such as SEGRO and Hamme
Read moreLondon afternoon: Footsie consolidates gains
2nd Mar 2010 14:13
Leading shares consolidated gains over the lunchtime session though it remains a bad day to be invested in the insurance sector. Insurer Prudential is under the cosh again as investors bale out ahead of an expected monster cash call to finance the group's acquisition of AIG's Asian assets. RSA In
Read moreLondon midday: Banks bounce back
2nd Mar 2010 12:08
Although base metal miners have reversed course and are now heading south the FTSE 100 index has added to early gains, helped by a surge in interest in banking shares. Ahead of results tomorrow Standard Chartered is leading the banking sector higher. Part-nationalised lenders Royal Bank of Scotland
Read moreLondon open: Steady start for Footsie
2nd Mar 2010 08:40
Footsie has edge higher in early dealings following a strong showing from Wall Street yesterday. After recent slew of results from the Footsie heavyweights it is the mid-caps day Persimmon completed 8,976 house sales last year and the housebuilder has seen a 7% increase in sales and steady prices s
Read moreDevelopment slowdown hits Wood Group
2nd Mar 2010 08:05
Oil services firm Wood Group pointed to a sharp reduction in development activity as it posted a fall in profits in 2009. The Aberdeen-based group posted a pre-tax profit of $264.8m for the year, down from $384.1m the previous year as revenues fell to $4.92bn from $5.24bn. Wood said a 'robust perf
Read moreSector movers: Forth Ports sinks after warning
18th Dec 2009 10:54
Forth Ports is weighing on the industrial transportation sector. The port operator said it expects full year results to be at the lower end of expectations due to weak trading in its Nordic recycling division and in its container services operations at Tilbury port near London. A recovery in the s
Read moreFTSE 250 movers: Upbeat statement powers Aggreko
18th Dec 2009 10:50
Temporary power supplier Aggreko leads the way after saying trading has been better than expected during the last three months of the year, leaving 2009 operating profit up by more than a quarter. Punch Taverns is the heaviest faller. The pub group is still under the cosh after a gloomy trading sta
Read moreFriday tips round-up: Savills, Wood Group, McBride
18th Dec 2009 06:42
Savills, the upmarket property company, produced a reverse profits warning yesterday, saying its earnings would be appreciably ahead of expectations. Notwithstanding 50 % top rates and supertaxes on bankers' bonuses, it seems the top end of the property market is holding up rather nicely. The share
Read moreLondon close: Banks spooked by higher capital call
17th Dec 2009 16:34
Banks sank on a call for tougher capital requirements and coupled with a weak mining sector it meant a poor day in London. Lloyds Banking took a pasting, while Standard Chartered and Barclays were also among the worst performers. The Basel Committee of central bankers and supervisors called for st
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