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FTSE 250 movers: Oil prices help producers and service providers surge

Fri, 26th Feb 2016 15:05

(ShareCast News) - The FTSE 250 was in the black by mid-afternoon on Friday, up 173.01 points (1.05%) to 16,572.08.Oil producers and service companies featured heavily on the risers, as oil prices continued to rebound.At 1527 GMT, West Texas Intermediate was up 1.64% to $33.62, while Brent crude rose 2.60% to $36.23. That helped Tullow Oil, Petrofac and Weir Group shares rise.Petrofac was also boosted after Jefferies upgraded the company to 'buy' from 'hold' on Thursday and lifted the price target to 855p from 745p.It said the company's 2015 results emphasised the return to Petrofac's original and still core business offering, Onshore E&C, in the Middle East.On Wednesday, the oilfield services provider said its annual profit had plunged due to delays in getting production up and running at its Laggan-Tormore plant and the costs associated with it.The company said it made a net profit of $9m (£6.4m), down from $581m in 2014.Jefferies noted the overall OEC backlog was confirmed as $12.5bn and said clarification that $4.6bn of that is for revenue execution in 2017 is better than it had expected.As a result, Jefferies upped its estimate for 2017 OEC revenue by 6% to $5.6bn.Countrywide rebounded somewhat was a poor set of results on Thursday, after the UK's largest estate agency group reported a 37% drop in 2015 profits, blaming a "significantly" tougher year for the market.The group's operating profit fell to £53.8m in the 12 months to 31 December 2015 from £84.9m a year earlier as the levels of home buying remained low across the country.Earnings before interest, tax, depreciation and amortisation fell 7% to £113m."A tougher sales market coupled with our significant change agenda challenged us in maintaining our share of sales outside of London," said chief executive Alison Platt.Pre-tax profits plunged 40% to £46.7m as the group handled 8% fewer sales transactions during the year. The company also had to contend with competition from digital rivals including Purplebricks, eMoov and HouseSimple. As a result Countrywide's average sales fee fell 3%.The number of house sales exchanged fell 8% to 67,402. Yet total income rose 4% to £733.7m.Kennedy Wilson Europe Real Estate also saw a jump in tis share price, after it reported a 15% jump in full year net asset value and a hike in the dividend thanks to good progress across all of the business.In the year to the end of December, adjusted net asset value rose to £1.6bn from £1.4bn in 2014 and the portfolio value rose to £2.8bn from £1.5bn following several acquisitions.Net profit after tax came in at £259m from £78.5m and adjusted earnings per share were 47.9p compared with 25.9p in 2014.Kennedy said it had made acquisitions of £1.14bn across 217 properties and two loan portfolios, delivering a yield on cost of 7.1%.It said its £300m disposal programme was on track, with £124.4m of sales completed across 35 properties at an average exit yield of 5.7%, generating a return on cost of 22.9%.FTSE 250 - RisersTullow Oil (TLW) 159.90p 8.19%International Personal Finance (IPF) 250.20p 7.20%Petrofac Ltd. (PFC) 869.00p 6.95%Amec Foster Wheeler (AMFW) 358.50p 6.51%Weir Group (WEIR) 932.00p 5.85%Aveva Group (AVV) 1,516.00p 5.57%Countrywide (CWD) 348.20p 5.45%Kennedy Wilson Europe Real Estate (KWE) 1,109.00p 5.02%Vedanta Resources (VED) 254.50p 4.91%Michael Page International (MPI) 376.20p 4.79%FTSE 250 - FallersDignity (DTY) 2,481.00p -2.55%Allied Minds (ALM) 316.80p -2.52%Rightmove (RMV) 3,830.00p -2.17%Genus (GNS) 1,447.00p -2.16%Pennon Group (PNN) 813.50p -1.39%Domino's Pizza Group (DOM) 1,041.00p -1.33%Indivior (INDV) 162.00p -1.28%Card Factory (CARD) 339.70p -1.25%Ladbrokes (LAD) 132.60p -1.19%NMC Health (NMC) 890.00p -1.11%
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3 Sep 2018 12:13

Investec Ups Countrywide Holding Stake To 12.50% From 5.75% (ALLISS)

LONDON (Alliance News) - Countrywide PLC said Monday that Investec Asset Management Ltd upped its stake in the company to 12.50%.Prior to the deal, Investec held a 5.75% interest in the at

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30 Aug 2018 16:27

Hosking Partners Builds 5.5% Interest In Countrywide (ALLISS)

LONDON (Alliance News) - Countrywide PLC said Thursday Hosking Partners LLP now holds a 5.5% stake in the estate agent.Hosking Partners' holding in Countrywide prior to the transaction

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30 Aug 2018 10:35

Countrywide Admits 1.40 Billion Shares After Placing And Open Offer (ALLISS)

LONDON (Alliance News) - Countrywide PLC said Thursday it issued a total of 1.40 billion shares after a placing and open offer.Earlier this month, the estate agent announced a placing to of

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28 Aug 2018 14:10

Countrywide shareholders approve £140m cash call

(Sharecast News) - Countrywide shareholders approved a £140m emergency fundraising at the estate agency owner's annual general meeting on Tuesday.

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21 Aug 2018 16:02

UK Shareholder Meetings Calendar - Next 7 Days

Wednesday 22 AugustCollagen SolutionsJames LathamParagon 23 AugustFulham 24

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21 Aug 2018 08:25

Countrywide Receives Acceptances For 72% Of Open Offer Shares (ALLISS)

LONDON (Alliance News) - Countrywide PLC said Tuesday it received acceptances for 72% of shares under an open offer launched at the beginning of August.Earlier this month, the estate agent

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20 Aug 2018 08:57

Countrywide Withdraws Proposal To Change Remuneration Policy (ALLISS)

LONDON (Alliance News) - Estate agent Countrywide PLC said on Monday it has withdrawn its proposals to adopt a new remuneration policy.This followed a meeting with Countrywide's major a

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8 Aug 2018 12:36

Wednesday broker round-up

(Sharecast News) - Spire Healthcare Group: Berenberg downgrades to sell with a target price of 120p.

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8 Aug 2018 10:56

Credit Suisse slashes Countrywide target after heavily discounted placing

(Sharecast News) - Analysts at Credit Suisse upgraded Countrywide to 'neutral' on Wednesday, but slashed its target price on the London-listed firm from 77p all the way down to 17.2p.

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5 Aug 2018 14:44

Sunday share tips: Countrywide, Hollywood Bowl, BP

(Sharecast News) - A round-up of share tips from the Sunday newspapers, including Countrywide in the Sunday Times, Hollywood Bowl in the Sunday Telegraph and BP in the Mail on Sunday.

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2 Aug 2018 16:10

UPDATE: Countrywide Continues To Sink Upon Completion Of Fundraising (ALLISS)

LONDON (Alliance News) - Countrywide PLC on Thursday it completed a GBP140 million fundraising to support its reorganisation plans after swinging to loss in the first half of 2018.The agent

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2 Aug 2018 11:42

Countrywide Sinks As It Swings To Loss And Announces Fundraising (ALLISS)

LONDON (Alliance News) - Countrywide PLC on Thursday announced a restructuring plan and GBP140 million fundraising after it swung to loss in the first half of 2018 driven by the opening pipeline a

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2 Aug 2018 08:47

Countrywide seeks £140m to shore up finances

(Sharecast News) - Countrywide announced plans to raise £140m from investors to strengthen its finances after the estate agent lost more than £200m in the first half.

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24 Jul 2018 12:44

Countrywide delays cash call and interims, says H1 earnings 'slightly' better than guidance

(Sharecast News) - Estate agent Countrywide said on Tuesday that its adjusted earnings for the six months to 30 June were a little better than it had previously guided and that it was pushing back the cash call it announced last month and the issue of its interim results.

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24 Jul 2018 10:27

WINNERS & LOSERS SUMMARY: Investors Toast Fevertree 40% Dividend Hike

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------Royal up HSBC

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