12 Jan 2015 08:56
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Don't have an account? Click here to register.Sector Movers: Real estate and housebuilders in the green, but tobacco takes a hit
Thu, 19th Mar 2015 14:35
The UK 2015 Budget continues to impact market sentiment as real estate and housebuilding stocks followed oil and gas services companies in posting an uptick in performance.In his final budget before the General Election on May 7, Chancellor George Osborne announced a series of measures considered to be price positive for shares in both sectors.In a bid to appease those wanting to get on the property ladder, Osborne put forward plans for an ISA for first-time buyers which would see the government add 25% on top of the amount saved by potential homebuyers.Housebuilder Crest Nicholson led the way on Thursday morning on the back of posting a 10% rise in its sales rate on an annualised basis. The company's shares rose by over 4% to 443p. Its rivals also benefited from the feel good factor with Barratt Developments up 0.28% to 530p, Bovis Homes up 0.57% to 967.50p, and Taylor Wimpey up 0.59% to 154.10p at 15:15 GMT. Overall, the home & household good sector saw an uptick of 1.03% or 147.86 points to 14,465.29.On a related note, real estate services provider Savills posted a 21% increase in pre-tax profit to £84.7m, as revenue rose 19% to £1.08bn. The company's shares were trading 4% higher at 809p at 15:15 GMT. Additionally, rival Countrywide saw its shares rise 3.74% to 554.50p while Foxtons saw a 6.1% uptick 208.75.Oil and gas services companies with exposure to the North Sea carried positivity over from Wednesday into Thursday's trading session despite ongoing turmoil in the oil markets. On Wednesday, the Chancellor said the petroleum revenue tax (PRT) would be slashed from 50% to 35% to support investment in older fields. The supplementary charge will also be cut from 30% to 20% and backdated to January. It follows an earlier reduction from 32% to 30% announced in Osborne's Autumn Statement last December.The move provides a shot in the arm for oil equipment and services companies. The sub-sector index came in at 18,403.95 points up 354.14 points of 1.91%, with key players Amec, Petrofac, Lamprell and Wood Group all trading in the green.However, going the other way, tobacco was the worst performing sector of day plummeting 3.13% or 1,398.54 points to 43,215.41. Blue chips British American Tobacco came in at 3651p down 3.82% or 145p while Imperial Tobacco shed 54p or 1.69% to 3148p. The UK government's decision to introduce plain cigarette packaging is said to be denting sentiment, even though a legal challenge from the industry is thought to be on the cards.Leading Sectors:Oil Equipment, Services & Distribution 18488.07 +429.26 +2.38%Real Estate Investment Trusts 3404.05 +46.19 +138%Household Goods & Home Construction 14,503.56 +186.13 +1.30%Oil & Gas Producers 7047.18 +86.36 1.24%Mining 13839.04 +147.87 1.08%
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12 Jan 2015 08:47
UPDATE 1-Rig maker Lamprell expects 2015 revenue below current view
(Adds details, share movement) Jan 12 (Reuters) - Rig-maker Lamprell Plc said the slump in oil prices hurt its ability to secure new business, and that it expected its revenue for this year would be about 10 percent below current expectations. Shares in the British company fell as muc
Read more12 Jan 2015 07:40
Rig maker Lamprell expects 2015 revenue below current view
Jan 12 (Reuters) - British rig maker Lamprell Plc said revenue for 2015 would be about 10 percent below current expectations as the slump in oil prices hurts its ability to secure new business. "While short-term tendering activity will continue at a pace required to meet current demand, ou
Read more10 Dec 2014 15:43
Sector movers: Energy stocks tank as oil-price plunge intensifies
Stocks in the oil producing and oil services sectors were hit by renewed selling pressure on Wednesday as crude prices dropped to fresh five-year lows. A weaker demand forecast from OPEC and a surprise increase in US crude inventories were weighing heavily on oil prices in afternoon trade, with Bren
Read more2 Dec 2014 07:54
Lamprell sells Middle East oil services business for $3m
Oil services group Lamprell is off-loading a non-core Middle East service business for $3m. Lamprell is selling Litwin PEL, an engineering and contracting company that serves the oil and gas, chemical and petrochemical industries in Abu Dhabi, to the Nauvata group of companies. The sale of Litwin,
Read more28 Nov 2014 14:03
Sector movers: Oil services bear the brunt of OPEC decision as outlook sours
Oil-related stocks were continuing to feel the impact from a recent plunge in crude prices on Friday, though companies in the energy-services sector were bearing the brunt of the selling pressure. The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday not to scale back their pr
Read more24 Nov 2014 15:11
Sector movers: Petrofac profit warning sinks oil services stocks, OPEC meeting eyed
A profit warning from blue-chip oilfield services group Petrofac rattled the oil services, equipment and distribution sector in London on Monday, with stocks falling by an average 10%. There was nervousness ahead of a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC) on Thu
Read more21 Nov 2014 14:18
BUZZ-Bears on alert as OFS deal chatter gets louder
** More shorts could be squeezed out as M&A buzz around OFS cos hots up ** Some short covering has already been at work since announcement of Halliburton /Baker Hughes deal & Technip's offer to buy CGG, analysts say ** Amec Foster Wheeler & Petrofac 3rd & 4th most borrowed stocks on F
Read more13 Nov 2014 09:50
12 Nov 2014 09:07
Lamprell gets $365 mln rig contract from Abu Dhabi's NDC
Nov 12 (Reuters) - British rig maker Lamprell Plc received a new contract worth about $365 million from Abu Dhabi's National Drilling Co for two jackup drilling rigs. Lamprell's shares rose as much as 5.8 percent to 150.25 pence in morning trade. National Drilling also has the right
Read more21 Oct 2014 10:37
BUZZ-Lamprell: Up 7 pct on completion of second drill rig
** The drilling rig maker's shares up as much as 7.1 pct after it said finished construction of a second jack-up drilling rig in the Caspian Sea ahead of schedule. ** The company said the completion of the rig, which is expected to be delivered over the next month, enables it to release con
Read more21 Oct 2014 08:35
Lamprell expects windfall from rig completion
Oil services group Lamprell expects a financial windfall after completing construction of a second oil and gas rig for an unidentified client. Lamprell said it had finished building the Caspian Sea jackup drilling rig, the "Mercury", ahead of time, which meant it would be able to release contingenci
Read more