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Share Price Information for Petrofac (PFC)

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Share Price: 10.50
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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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30 May 2022 16:16

IN BRIEF: Europa Oil & Gas and i3 sign services contract for Serenity

Europa Oil & Gas Holdings PLC - oil and gas exploration, development, and production in UK, Ireland and Morocco - and i3 Energy PLC - oil and gas producer in the UK and Canada - i3 enters three-year contract with Petrofac Facilities Management Ltd for the subsidiary of Petrofac Ltd to provide well engineering, operations management and operator services for drilling of Serenity appraisal well. Serenity is located on its UK North Sea license P2358 block 13/23c, for which i3 is the operator and Europa holds a 25% working interest. i3 says well slot is secured for commencement date between August 15 and September 15 this year.

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27 May 2022 10:06

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26 May 2022 12:54

Petrofac warns of "small" loss in E&C business as costs pile up

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26 May 2022 09:11

Petrofac shares slip as E&C unit tipped for small loss this year

(Sharecast News) - Shares in Petrofac slipped on Thursday after the company said its engineering & construction operation would report a small loss this year.

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23 May 2022 15:57

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6 May 2022 08:36

CORRECT: LONDON BRIEFING: BA parent set to restore 2019 capacity

(Correcting IAG pretax and after-tax losses.)

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6 May 2022 08:16

LONDON BRIEFING: British Airways parent set to restore 2019 capacity

(Alliance News) - International Consolidated Airlines Group on Friday said demand for travel is recovering strongly in line with its previous expectations as the British Airways parent posted a narrowed first-quarter loss.

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5 May 2022 15:11

IN BRIEF: Petrofac wins decommissioning contract in Gulf of Mexico

Petrofac Ltd - Jersey-based services provider to the energy industry - Wins "sizeable" decommissioning contract in alliance with Promethean Decommissioning Co, a pure-play decommissioning operator. The two companies will decommission the South Pass 60, South Pass 6 and East Breaks 165 fields, offshore Gulf of Mexico. PDC appoints Petrofac as the decommissioning services provider, with the estimated value of the contract to be USD200 million. The companies also select US company Danos as offshore services provider.

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5 May 2022 11:05

SMALL-CAP WINNERS & LOSERS: Reach sinks as Ukraine war stifles growth

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5 May 2022 07:43

Petrofac secures $200m decommissioning contract

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3 May 2022 10:51

SMALL-CAP WINNERS & LOSERS: Card Factory surges on swing to profit

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3 May 2022 09:30

LONDON BROKER RATINGS: HSBC upgrades M&G and St James's Place to buy

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3 May 2022 07:00

Berenberg upgrades Petrofac to 'buy'

(Sharecast News) - Analysts at Berenberg upgraded oilfield services provider Petrofac from 'hold' to 'buy' on Tuesday, stating the group was now "emerging into the light".

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