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Share Price Information for Petrofac (PFC)

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Share Price: 10.50
Bid: 0.00
Ask: 0.00
Change: 0.00 (0.00%)
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British equities rise as travel stocks rally after China lifts travel curbs

Thu, 10th Aug 2023 17:30

China eased travel restrictions

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Better than expected U.S. CPI data

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Rio Tinto, banks stocks weigh on ex-dividend trading

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FTSE 100 up 0.4% FTSE 250 adds 0.3%

Aug 10 (Reuters) - UK stocks closed at a one-week high on Thursday boosted by travel and luxury companies as China lifted pandemic-era curbs on foreign group tours, while a moderate increase in U.S. July inflation data boosted gains.

The FTSE 100 index added 0.4% while more domestically-focused FTSE 250 stocks rose 0.3%.

Travel and leisure shares rose 1.4% as China lifted bans on group tours for more countries, including Britain.

"This is huge for travel companies, which are in desperate need of a boost as they've been severely impeded for many years now. This is another step to return to normality," said Michael Baker, head of UK premium clients, at Capital.com.

Adding to the optimism, U.S. inflation increased moderately in July amid lower costs for goods, fuelling hopes the Federal Reserve could leave interest rates on hold next month.

The personal goods index was the session's biggest gainer, rising 2.9%, led by British luxury fashion brand Burberry Group after Bernstein increased price target on the stock.

Shares of Persimmon gained over 2.2% after the UK housebuilder said it expects annual profit to be in line with expectations.

Banks stocks Barclays, Natwest Group, HSBC Holdings were down between 0.6% and 1.2% as they traded ex-dividend.

Industrial metal miners fell 1.0%, with Rio Tinto's 3.3% drop weighing on the sector as the mining company's shares traded ex-dividend.

Among the companies reporting results, Deliveroo gained 3.5% as the food delivery firm lifted its earnings guidance for current financial year.

Savills dipped 10.7% after the real estate adviser "reduced" its annual expectations as it posted a 72% slump in half-year profit.

Petrofac slipped 4.5% after UK oilfield services provider reported a half-yearly loss.

Spirax-Sarco shares fell 2.3% after it reported first-half profit and revenue below expectations. (Reporting by Siddarth S, Shreyashi Sanyal, Rupali Chaudhary and Khushi Singh in Bengaluru; Editing by Savio D'Souza, Janane Venkatraman and Jane Merriman)

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24 Nov 2022 16:27

Unite Union to hit BP UK North Sea oilfields with two-day strike

LONDON, Nov 24 (Reuters) - Employees of oil services firm Petrofac working on several of BP's British North Sea oilfields have voted for industrial action on Dec. 8 and 9 over working conditions, the Unite Union said on Thursday.

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24 Nov 2022 16:10

Unite Union to hit BP UK North Sea oilfields with two-day strike

LONDON, Nov 24 (Reuters) - Employees of oil services firm Petrofac working on several of BP's British North Sea oilfields have voted for industrial action on Dec. 8 and 9 over working conditions, the Unite Union said on Thursday.

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22 Nov 2022 17:27

Oil stocks power FTSE 100 to over two-month high

Oil stocks surge; Citi upgrades BP

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22 Nov 2022 10:28

Petrofac names Kawash new CEO as Sami Iskander steps down in March

(Alliance News) - Petrofac Ltd on Tuesday said that Chief Executive Officer Sami Iskander will leave the business at the end of March to pursue other interests.

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22 Nov 2022 09:27

Petrofac CEO to step down, shares fall

CEO Sami Iskander to step down end of March

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22 Nov 2022 08:17

Petrofac CEO to stand down

(Sharecast News) - Energy services company Petrofac said on Tuesday that chief executive Sami Iskander will leave the business at the end of March 2023 in order to pursue other interests.

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21 Oct 2022 09:38

LONDON BROKER RATINGS: HSBC cuts Asos; Berenberg likes Synthomer

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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14 Oct 2022 12:09

LONDON MARKET MIDDAY: 'Mini-budget' U-turn hopes turbocharge shares

(Alliance News) - The FTSE 100's post-US inflation rally lost a bit of steam mid-morning Friday, before picking up pace once again as hopes the UK government will reverse unpopular fiscal policy moves continue to grow.

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14 Oct 2022 09:17

LONDON BROKER RATINGS: Peel Hunt likes Petrofac; Deutsche cuts boohoo

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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24 Aug 2022 09:45

LONDON BROKER RATINGS: Unilever and Petrofac cut, Marshalls upgraded

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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18 Aug 2022 15:01

JP Morgan stays 'overweight' on Petrofac, says bid pipeline 'growing and accelerating'

(Sharecast News) - Analysts at JP Morgan reiterated their 'overweight' recommendation for shares of Petrofac following a meeting with the oilfield services outfit's management during the preceding week.

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11 Aug 2022 10:27

Petrofac posts drop in interim revenue as Covid-19 effects linger

(Alliance News) - Petrofac Ltd on Thursday reported a drop in interim revenue due to Covid-19 pandemic effects, as it remains optimistic about future opportunities.

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11 Aug 2022 09:46

LONDON BROKER RATINGS: Goldman Sachs starts Harbour Energy at 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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11 Aug 2022 07:24

Petrofac narrows losses, sees order backlog growth in H2

(Sharecast News) - Energy industry firm Petrofac narrowed losses and said it expected to grow order backlog over the full year.

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