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Sector movers: Beverage stocks pace gains

Tue, 13th Sep 2016 16:39

(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 interims, due out on 27 September.The figures were unlikely to "sparkle" but the August weather had been "good" and further news on its low/no sugar variants should be forthcoming, Pick told clients.Edward Munny at Jefferies also had some kind words for the sector, initiating coverage on the European beverages space, placing the likes of Diageo and Britivic at 'buy'.Munny upped his target on shares of the latter from 2,000p to 2,500p."At a time when global growth remains subdued, we see the European beverages sector offering visible structural growth," Munny wrote to clients. Oil equipment and services was at the bottom of the pile, as the International Energy Agency lowered its forecasts for global oil demand growth in 2016 and 2017.That sent Brent crude futures lower by 1.75% to $47.49 per barrel on the ICE.In other sector news, US-based Enterprise Products filed a lawsuit in Texas against Amec Foster Wheeler, claiming the company was to blame for cost overruns on a project.Steel stocks were also lower as analysts at Macquarie told clients Chinese steel manufacturers were set to become more competitive in the fourth quarter of 2016, to the detriment of those in India and Europe.In parallel, rebar futures traded on the Shanghai Futures Exchange fell by $3.90 to $339 a tonne overnight, as iron ore futures traded on the Dalian Commodity Exchange lost $1 to $59.0.

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1 Oct 2015 13:43

FTSE 250 movers: Tullow Oil rockets, but BBA Aviation crashes on broker downgrade

(ShareCast News) - London's FTSE 250 index was up 0.7% to 16,791.70 at 1525 BST on Thursday, as the broader market bounced back from recent losses and got a boost from better-than-expected UK manufacturing data. Shares in oil exploration and production company Tullow Oil rocketed after it said its l

1 Oct 2015 08:44

BROKER RATINGS SUMMARY: UBS Raises Diageo To Buy From Neutral

1 Oct 2015 07:18

LONDON BRIEFING: Miners Keep Market Rally Going

25 Sep 2015 07:45

London pre-open: Stocks to start higher after Fed's Yellen

(ShareCast News) - Stocks will start the day higher after Fed chair Janet Yellen indicated overnight the US central bank was keeping all options on the table as regards a first hike in interest rates this year. "Most of my colleagues and I anticipate that it will likely be appropriate to raise the t

25 Sep 2015 07:20

Franklin appointed to Amec Foster Wheeler board

(ShareCast News) - Cuadrilla chairman Roy Franklin has been appointed to the board of Amec Foster Wheeler, the consultancy, engineering and project management company said on Friday. Franklin is also currently chairman of Keller Group and deputy chairman of Statoil ASA and is a non-executive directo

15 Sep 2015 16:22

FTSE 250 movers: Oil services stocks gush, Stagecoach hit by living wage warning

(ShareCast News) - After hitting a six-day low in early trade, the FTSE 250 index closed the session in positive territory on the back of mining and oil & gas sector gains. Vicissitudinous platinum miner Lonmin topped the mid-cap index for the second day as platinum, which is closely linked to the c

14 Sep 2015 08:36

BROKER RATINGS SUMMARY: Jefferies Ups BHP Billiton, Cuts Antofagasta

4 Sep 2015 08:44

BROKER RATINGS SUMMARY: Exane BNP Cuts Next, Raises Kingfisher

3 Sep 2015 13:37

Amec Foster Wheeler Chief Heads Up New North Sea Efficiency Task Force

30 Aug 2015 11:38

Amec Foster Wheeler gearing up for return to Iran

(ShareCast News) - Executives at Amec Foster Wheeler, the biggest oil and gas engineer in Britain, have held talks with the foreign secretary Philip Hammond about returning to Iran. The discussions come after the nuclear agreement reached with the Iranian government earlier this year. The deal is a

28 Aug 2015 08:35

BROKER RATINGS SUMMARY: Credit Suisse Cuts Next And Raises IHG

27 Aug 2015 10:17

TOP NEWS SUMMARY: CRH Buys US's CR Lawrence For USD1.3 Billion

27 Aug 2015 10:08

UPDATE: Amec Foster Wheeler Reports Lower Interim Pretax Profit

27 Aug 2015 07:36

Amec Foster Wheeler interim profit drops amid challenging market conditions

(ShareCast News) - Oil and gas services company Amec Foster Wheeler reported a 12% fall in first-half pre-tax profit amid challenging market conditions, as it said it continues to expect a reduction in trading margins. Interim pre-tax profit fell to £73m from £83m in the same period last year, altho

27 Aug 2015 07:12

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