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German tech firm Aixtron came top of the pile as Markit, the financial information firm, yesterday released its review of the most short-sold European companies due to announce results in the coming week. Aixtron, a perennial target for short sellers, saw its shares out on loan rise by 19 per cent in the last month [...]
Two companies are on track to be promoted to the FTSE 100 this week as the UK’s main stock indices undergo a reshuffle. Residential property development companies Barratt Developments and Taylor Wimpey are both in line to be moved on to the FTSE 100 index from their current position on the FTSE 250. The FTSE 100 [...]
FTSE 100 oil producers plummeted this afternoon as the Opec group of oil-producing companies, who met today in Vienna, announced its decision not to curb oil production, despite falling prices. Tullow Oil and BG Group were among the biggest fallers, closing down 7.76 per cent and 6.15 per cent respectively, while Petrofac closed down 5.95 per [...]
Shares in oil and gas services firm Petrofac fell by more then 26 per cent yesterday after the company issued a profit warning, citing the impact of falling oil prices. Petrofac also blamed delays and operational issues at many of its projects as it reset its expected 2015 profit to $500m (£318m) from the previous [...]
BRITAIN’S top share index edged lower yesterday, weighed down by a slump in Petrofac after it predicted low net profits, but M&A talk kept it near a two-month high. Smith & Nephew and Friends Life were said to be likely subjects for bids, and BT confirmed it might expand into mobile communications. The benchmark FTSE [...]
Shares in Petrofac plunged by almost 25 per cent in mid-morning trading after it issued a profit warning, saying it expects profits next year to be more than a quarter lower. The oil giant said that although it expected net profit to fall to the "lower end" of its $580m-$600m (£370m-£383m) guidance this year, it [...]
BRITAIN’S top equity index yesterday climbed to its highest closing level in nearly two months, with oil and gas services company Petrofac buoyed by positive broker comments. However, supermarkets J Sainsbury and Tesco underperformed after weak sales data. The FTSE 100 index ended up 0.1 per cent, or 7.90 points, at 6,830.66 points. Petrofac rose [...]
NET PROFIT at oil services provider Petrofac fell by a huge 44 per cent during the first half of 2014, though the company said it expected a much stronger second half would keep it on course to meet full-year profit targets, as it also revealed record order levels. During the first half of the year [...]
Oil and gas services firm Petrofac has said that its operations in Iraq, which represents less than five per cent of expected revenues for this year, have not been significantly impacted by the recent wave of violence sweeping many parts of the country. The company's operations are mainly concentrated in the south and east of [...]
Petrofac, the energy services firm, has seen its shares plunge over 17 per cent this morning, after warning its net profit for this year will fall by as much as 11 per cent. A disappointing performance by its Integrated Energy Services (IES) division will see profit fall to between $580m and $600m. Petrofac had said [...]
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