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FTSE 250 movers: Restaurant Group sinks as revenues lift Rotork

Fri, 29th Apr 2016 14:51

(ShareCast News) - The FTSE 250 was down in afternoon trading on Friday, as investors picked their way through a raft of corporate earnings and as data showed the eurozone fell further into deflation in April.Valve maker Rotork was among the index leaders in afternoon trading, after it reported a 0.7% increase in first quarter revenues earlier in the day. Order intake rose 2.5% during the period. Currencies contributed 3.1% to offer intake and 3% to revenue, with acquisitions contributing 8.4% to order intake and 9.2% to revenue."Oil and gas remained challenging, with weakness evident in the midstream sector. Power was impacted by continued weakness in China. There was good activity in the water and industrial markets. Geographically, Latin America, parts of North America and India remained subdued," the company said.In a separate announcement, Rotork also said it was acquiring US outfit Mastergear from Regal Beloit Corporation for $25m on a cash-free, debt-free basis.Tullow Oil was another riser, as investors appeared to concentrate on rising crude prices, brushing off a research note from Investec. Analysts there reiterated their rating on Tullow's stock as 'sell', and set a target price of 70p on the stock. That implied a potential downside of 74.7% from its opening price of 276.5p. Tullow Oil's 50 day moving average is 211.03p.Shares in Restaurant Group were tumbling after the company warned over its annual profits, highlighting a further deterioration in trading conditions and announcing the departure of its chief financial officer.The company, which owns restaurants such as Garfunkel's and Chiquito, said total sales were up 4.7% in the 17 weeks to 24 April, but like-for-like sales were down 2.7%.Restaurant Group also said CFO Stephen Critoph will step down from his role with immediate effect after 11 years, adding that the search for a replacement was underway.Ophir Energy was another stock under pressure, after the firm revealed before markets opened that it had hit a serious stumbling block at the Fortuna floating liquefied natural gas project, offshore Equatorial Guinea, after it was unable to reach agreement with Schlumberger over an upstream participation arrangement."The Fortuna project workstreams are progressing towards FID. We have been reviewing a number of options and our discussions continue with other quality counterparties that can offer an attractive source of funding," said Ophir CEO Nick Cooper. FTSE 250 - RisersRotork (ROR) 192.90p 7.53%Centamin (DI) (CEY) 118.30p 5.16%Acacia Mining (ACA) 350.20p 2.07%BGEO Group (BGEO) 2,322.00p 1.71%AO World (AO.) 187.90p 1.57%Tullow Oil (TLW) 285.00p 1.28%John Laing Group (JLG) 212.60p 1.24%Evraz (EVR) 146.40p 1.17%Berendsen (BRSN) 1,191.00p 1.10%Morgan Advanced Materials (MGAM) 238.40p 1.06%FTSE 250 - FallersRestaurant Group (RTN) 279.90p -25.22%Ophir Energy (OPHR) 76.35p -16.92%IP Group (IPO) 164.30p -6.81%Sports Direct International (SPD) 389.30p -5.51%Telecom Plus (TEP) 952.50p -4.85%Barr (A.G.) (BAG) 585.00p -4.80%Cineworld Group (CINE) 516.00p -4.71%OneSavings Bank (OSB) 286.40p -4.53%Cable & Wireless Communications (CWC) 73.70p -4.22%Sophos Group (SOPH) 204.10p -4.22%

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30 Nov 2016 12:53

Broker tips: Ophir, Capita, Croda

(ShareCast News) - Ophir Energy's shares gushed higher after Canaccord Genuity upgraded the stock to 'buy' from 'hold' and lifted the target price to 105p from 80p. Canaccord cited Ophir's newly formed joint operating company (JOC) with OneLNG to develop the Fotuna gasfield offshore Equatorial Guine

30 Nov 2016 12:27

Ophir Energy rallies on Canaccord upgrade

28 Nov 2016 21:23

UPDATE 1-Mexico certifies bidders for December deep water oil auctions

(Adds comments from Zepeda, CNH president, paragraphs 9-11) MEXICO CITY, Nov 28 (Reuters) - Mexico's oil regulator announced on Monday a final list of 17 oil companies representing a dozen countries that have pre-qualified to bid on the country's first-ever deep water oil auctions, set for

28 Nov 2016 20:53

CORRECTED-Mexico certifies bidders for December deep water oil auctions

(Corrects paragraph 6 to add additional certified company, Inpex; adds stock symbols missing from paragraphs 5 and 6) MEXICO CITY, Nov 28 (Reuters) - Mexico's oil regulator announced on Monday a final list of 17 oil companies representing a dozen countries that have pre-qualified to bid on

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

16 Nov 2016 17:04

Final investment decision on Tanzania LNG plant still 5 yrs away -Statoil

By Katharine Houreld DAR ES SALAAM, Nov 16 (Reuters) - The final investment decision on a Tanzania's $30 billion onshore liquefied natural gas (LNG) export terminal will not be made for at least five years and possibly much longer, said Oystein Michelsen, Statoil's Tanzania country manager.

1 Nov 2016 09:38

Ophir says does not need partners for upstream floating LNG project in Equatorial Guinea

By Ed Stoddard CAPE TOWN, Nov 1 (Reuters) - Ophir Energy can go ahead with its Fortuna floating liquefied natural gas project off Equatorial Guinea with or without new partners because the cost estimates have halved to around $450 million, a senior executive said on Tuesday. "The capi

30 Sep 2016 10:06

Friday broker round-up

(ShareCast News) - Vodafone: UBS reiterates buy with a target price of 310p. British Land: HSBC reiterantes buy, 738p target. Ophir Energy: Deutsche Bank keeps at neutral with a 95p target. Homeserve: UBS reiterates neutral with a 610p target. Intercontinental Hotels: Credit Suisse keeps at outpe

30 Sep 2016 08:27

BROKER RATINGS SUMMARY: Split View On Capita As Two Raise, Three Cut

16 Sep 2016 10:54

Friday broker round-up

(ShareCast News) - Admiral Group: Berenberg reiterates hold with a target price of 1804p. Vodafone: Barclays reiterates overweight, 260p target. Next: HSBC keeps at hold with a 4485p target. Asos: JP Morgan reiterates overweight with a 5400p target. Moneysupermarket: RBC stays at outperform with

22 Aug 2016 16:00

Tanzania's President Magufuli orders officials to speed up LNG project

By Fumbuka Ng'wanakilala DAR ES SALAAM, Aug 22 (Reuters) - Tanzanian president John Magufuli ordered officials on Monday to speed up long-delayed work on a planned liquefied natural gas (LNG) plant, saying implementation of the project had taken too long. BG Group, recently acquired b

10 Aug 2016 10:11

Wednesday broker round-up

(ShareCast News) - Ibstock: Jefferies reiterates buy with a target price of 190p. Legal & General: Barclays maintains equal-weight with a 194p target. Glencore: UBS reiterates buy with a 220p target. Booker: HSBC stays at neutral with a 200p target. Spire Healthcare: Berenberg reiterates buy with

29 Jun 2016 08:48

BROKER RATINGS SUMMARY: Merrill Lynch Upgrades Burberry To Buy

21 Jun 2016 14:46

Barclays names Ophir Energy 'top-pick', upgrades Premier Oil

(ShareCast News) - Analysts at Barclays re-jigged their recommendations on European Exploration and Production companies in order to take into account the recent rise in crude oil prices and improved investor sentiment regarding companies´ ability to execute to plan operationally. In the process

6 Jun 2016 17:06

UPDATE 1-Equatorial Guinea says Schlumberger walked away from Fortuna project

(Updates with quote, details) CAPE TOWN, June 6 (Reuters) - Equatorial Guinea's energy minister on Monday said Schlumberger had walked away from the country's Fortuna floating liquefied natural gas (FLNG) project but he also said he was confident it would be successful. Fortuna, Afric

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FTSE 250 movers: Restaurant Group sinks as revenues lift Rotork

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