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Pin to quick picksPetrofac Share News (PFC)

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Share Price Information for Petrofac (PFC)

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Share Price: 10.50
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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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8 Mar 2024 07:38

Petrofac secures $200m contract with Turkemengas

(Sharecast News) - Petrofac said on Friday that it has been awarded a three-year operations contract from Turkemengas at the Galkynysh Gas Field, in Turkmenistan.

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5 Mar 2024 14:18

Petrofac progresses talks and non-core asset sales amid ongoing review

(Alliance News) - Petrofac Ltd on Tuesday said "active" discussions are progressing with its stakeholders as part of its ongoing review of its strategic and financial options.

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5 Mar 2024 10:00

Petrofac's creditor talks continue as firm looks to strengthen balance sheet

(Sharecast News) - Petrofac has said that work to bolster its balance sheet is ongoing as it continues to have active discussions with stakeholders and lenders for performance guarantees in order to fund ongoing work.

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20 Dec 2023 17:12

UK's FTSE 100 touches near 7-month high as BoE rate cut bets gain traction

FTSE 100 up 1.0%, FTSE 250 adds 1.6%

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20 Dec 2023 17:11

LONDON MARKET CLOSE: Stocks in festive mood after inflation surprise

(Alliance News) - Stocks in London soared on Wednesday, outperforming European peers, after a sharp drop in the annual rate of UK inflation fuelled hopes for interest rate cuts next year.

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LONDON MARKET MIDDAY: Stocks sparkle thanks to UK inflation data

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20 Dec 2023 10:43

Petrofac shares soar on "healthy" trading and new Hitachi deal

(Alliance News) - Petrofac Ltd on Wednesday announced a mixed but robust performance this year, and announced a new contract with Hitachi Energy.

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20 Dec 2023 10:19

SMALL-CAP WINNERS & LOSERS: Petrofac soars on USD1.4 billion contract

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20 Dec 2023 09:11

UK's Petrofac secures performance guarantees, boosting shares

Dec 20 (Reuters) - Petrofac said it received a performance guarantee for the first contract with Dutch electricity firm TenneT and agreed terms for its ADNOC Gas deal, sending the oilfield services provider's shares up as much as 59% on Wednesday.

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