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FTSE 250 movers: Tullett Prebon and ICAP acquisition talks boost market

Fri, 06th Nov 2015 13:47

(ShareCast News) - The FTSE 250 is on track to finish the week on a high, with the market up 99.55 points (0.58%) mid-afternoon Friday to 17,216.68 points.Tullett Prebon and ICAP were the biggest risers on the back of confirmation that Tullett Prebon is in discussions regarding the possible acquisition of its rival's global broking business.ICAP confirmed the sale discussions involved the global broking business's associated technology and broking platforms, including iSwap and Fusion, its associated information services businesses and certain of its joint ventures and associates.The announcement followed press reports suggesting the companies were close to announcing some form of deal following months of talks.Thomas Cook Group rebounded after falls on Thursday when the Government announced a halt on all flights between the UK and Sharm al-Sheikh.After the markets closed, Downing Street announced flights from the Egyptian resort to the UK would be permitted to fly to allow UK residents to return home, albeit with more strict security measures.Thomas Cook is one of five airlines that service the city and it is estimated 20,000 British tourists are in the area.However, everything wasn't rosy on the FTSE 250, with the market seeing Synthomer's weakness in its paper business and an uncertain latex outlook.The chemical group issued its third quarter results with strong progress reported across most operations.Management also remained confident in hitting their full-year targets - while volumes in Europe and North America were down on the paper softness, the Construction & Coatings and Functional Polymers segments were seeing further improvement.However, the market was less than impressed, with the company being the market's biggest faller.Amec Foster Wheeler also prevented the market from rising higher, after UBS and Citigroup downgraded the stock from buy to neutral.It came after having suffered heavy losses in the previous session when the oil and gas engineering services company said it was cutting its dividend by half amid tough market conditions.Citigroup said the company's "aggressive change of outlook" and move to protect the balance sheet highlights the fact the depth and length of the downturn continues to be under-appreciated by both oilfield services companies and markets.UBS said one of the key points of its investment case was Amec's above average dividend yield at around 5%, but the decision to halve the dividend in 2016 means the yield is now broadly in line with the European oil services average yield of 3.2% in 2016E and not a reason to be active buyers.FTSE 250 - RisersTullett Prebon (TLPR) 357.20p 8.64%ICAP (IAP) 474.60p 6.99%Aldermore Group (ALD) 267.20p 3.65%Thomas Cook Group (TCG) 116.00p 3.39%Jardine Lloyd Thompson Group (JLT) 876.00p 3.24%esure Group (ESUR) 262.90p 3.14%Virgin Money Holdings (UK) (VM.) 392.30p 2.67%Man Group (EMG) 167.80p 2.63%Jimmy Choo (CHOO) 152.90p 2.62%Centamin (DI) (CEY) 65.50p 2.58%FTSE 250 - FallersSynthomer (SYNT) 318.50p -5.49%Morgan Advanced Materials (MGAM) 267.30p -4.50%Amec Foster Wheeler (AMFW) 550.50p -4.09%Premier Oil (PMO) 77.00p -3.75%Petrofac Ltd. (PFC) 773.00p -3.31%Petra Diamonds Ltd.(DI) (PDL) 73.35p -3.10%Aggreko (AGK) 928.50p -2.57%Cobham (COB) 275.00p -2.14%Evraz (EVR) 80.80p -2.12%Kaz Minerals (KAZ) 112.00p -2.10%
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14 Feb 2017 07:48

Amec Foster Wheeler wins Spanish uranium project contact

(ShareCast News) - Energy services group Amec Foster Wheeler has been awarded a contract by Berkeley Energia to help develop its uranium processing plant at its Salamanca Project in western Spain. The scope of work by Amec Foster Wheeler will include engineering and procurement services to determine

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17 Jan 2017 07:50

Amec Foster Wheeler secures £35m MoD contract

(ShareCast News) - Amec Foster Wheeler has been awarded a contract worth about £35m to supply the UK Ministry of Defence with research and technology services. The work, for the MoD's Naval Nuclear Propulsion Programme, will be carried out over five years and will sustain about 70 jobs at Amec's off

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1 Dec 2016 17:07

LONDON MARKET CLOSE: Strong Pound Hits FTSE 100; Oil Rally Continues

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25 Nov 2016 20:13

FTSE 250 movers: Paragon Group jumps, AMEC sinks

(ShareCast News) - Paragon Group led to the upside on the back of a positive endorsement from broker Jefferies. Analyst Phil Dobbin said: "Paragon is evolving from a securitized non-bank lender to a more diversified retail funded banking group. We believe that the company has the ability to gain mar

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17 Nov 2016 13:00

Thursday broker round-up

(ShareCast News) - Kingfisher: HSBC reiterates hold with a target price of 380p. Astrazeneca: Berenberg reiterates buy with a 55p target. Aggreko: Jefferies stays at hold with a 750p target. Easyjet: Barclays reiterates equal-weight rating with a 1000p target. Amec Foster Wheeler: UBS keeps at ne

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15 Nov 2016 16:00

FTSE 250 movers: Oil services stocks bounce, Kaz knocked off high

(ShareCast News) - The FTSE 250 index was on the up again on Tuesday, rising almost 0.5% to over 17,550 by mid-afternoon as oil-related stocks inflated on hopes of more oil price gains. Oil service companies Petrofac and Wood Group were among the top risers, with engineer Amec Foster Wheeler a

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9 Nov 2016 10:03

Macquarie ups Amec Foster to 'neutral'

(ShareCast News) - Macquarie upgraded Amec Foster Wheeler to 'neutral' from 'underperform' but cut the price target to 400p from 420p, with the stock now sufficiently de-rated after last month's disappointing trading update. "In our view, the time has come to close out underweight positions and we u

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1 Nov 2016 12:25

Broker tips: Centamin, Ladbrokes Coral, Amec Foster Wheeler

(ShareCast News) - Numis on Tuesday lowered its recommendation on Centamin to 'hold' from 'add' and left its target price at 170p following the recent rally in the share price. Centamin on Monday said it expects 2016 gold production to be towards the upper end of its guidance of between 520,000 and

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1 Nov 2016 10:29

WINNERS & LOSERS SUMMARY: Standard Chartered Sold As Profit Misses

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1 Nov 2016 08:54

Amec Foster retreats on Barclays downgrade

(ShareCast News) - Amec Foster Wheeler was under the cosh on Tuesday as Barclays downgraded the stock to 'equalweight' from 'overweight' and cut the price target by 17% to 500p. Barclays pointed out that the group is currently undergoing a much deeper introspection than previously expected, in a mar

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31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

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27 Oct 2016 08:35

Amec Foster postpones Capital Markets Day, still to decide on funding structure

(ShareCast News) - Amec Foster Wheeler reaffirmed its expectations for full-year trading even as it forecast further slowing in Oil&Gas and solar activity in 2017, while raising its forecast for year-end net debt, sending its shares crashing. The company also announced proposed investments and a red

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19 Sep 2016 12:57

Credit Suisse starts Petrofac and Wood Group at outperform

(ShareCast News) - Markets were already looking ahead to European oilfield services companies emerging fitter and leaner from the worst downturn in exploration and production in over a generation, analysts at Credit Suisse said. "Unlike 2009, this downturn has been sufficiently long to spur behaviou

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13 Sep 2016 16:39

Sector movers: Beverage stocks pace gains

(ShareCast News) - Defensive issues took over from cyclicals, with beverage stocks climbing to the top of the leaderboard on the back of positive broker commentary. Analyst Charles Pick at Numis bumped up his recommendation on shares of AG Barr from 'hold' to 'add' ahead of the company's next set of

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13 Sep 2016 12:35

Enterprise Products files lawsuit against Amec Foster Wheeler

(ShareCast News) - Amec Foster Wheeler said on Tuesday that Enterprise Products has filed a lawsuit in the Harris County Court, Texas alleging that it is responsible for cost overruns and delays on Enterprise's propane dehydrogenation (PDH) unit in Mont Belvieu. "The contract we signed with Enterpr

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