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Sector movers: Oil-related sectors retreat as Aerospace & Defence flies

Thu, 28th Jul 2016 16:42

(ShareCast News) - FTSE indices were mixed heading towards the closing bell on Thursday, with the blue-chip index helped south by oil stocks undermined by crude's weakness and Royal Dutch Shell's second-quarter shocker."An unsurprisingly indecisive session in Europe has seen the likes of the FTSE largely flat-lining as traders reduced their risk overnight ahead of the week's risk event from the Bank of Japan," said Joshua Mahony, market analyst at IG."Commodities have enjoyed a particularly volatile second half of this week, with crude continuing to tumble heavily on a global supply glut alongside evidence that fund managers are heavily shorting crude prices," he said.In the Oil & Gas Producers sector, Shell's second-quarter profits adjusted for one-offs and inventory changes, dived 72% to $1.05bn due to lower oil prices and narrower refining margins.Sibling sector Oil Equipment, Services and Distribution was down as the market react to a rise in US inventories on Wednesday, and fears the black liquid faces a demand cliff amid a chronic global glut.Within the Healthcare grouping, Smith & Nephew revealed its interim profits were hit by forex headwinds. Pre-tax profits fell to $453m, from $481m.Looking to the upside, Aerospace & Defence was on the front foot behind Rolls-Royce as it said first-half pre-tax losses came in at £2.15bn from a £310m profit last year.This was largely a result of a revaluation of the company's US-dollar hedge book after sterling's recent collapse in the wake of the UK's vote to quit the European Union.In the same sector, BAE Systems booked a first-half net profit of £418m, from £398m a year ago as revenues rose to £8.7bn, from £8.4bn.The company said the UK's decision to leave the EU would lead to a period of uncertainty but did not anticipate any material near-term trading impact on business.Fixed-Line Telecommunications received a boost as BT Group confirmed an encouraging start to its financial year. In the June quarter, adjusted pre-tax profit was £802m, up 16%.Astrazeneca guided the Pharmaceuticals & Biotechnology mob north as it posted first-half results on Thursday, despite operating profit sliding 24% to $1.341bn, with core operating profit dropping 14% to $2.999bn.Among the metals diggers filling out the Mining sector, Anglo American narrowed its first-half pre-tax loss to $364m, from $1.92bn, and said it was on track to achieve its net-debt target of less than $10bn at end-2016.It and other miners benefited as safe-haven gold rose after the US Federal Reserve held its key interest rate last night, and as traders looks to Bank of Japan's policy meeting on Friday.Against the backdrop, BHP Billiton said the Samarco dam disaster in Brazil would hit full year profits by an extra $1.1bn-$1.3bn.Top performing sectors so far todayAerospace and Defence 4,721.13 +4.31%Fixed Line Telecommunications 4,727.91 +3.07%Pharmaceuticals & Biotechnology 14,676.79 +1.89%Software & Computer Services 1,969.49 +1.68%Mining 11,723.69 +0.87%Bottom performing sectors so far todayElectricity 9,141.01 -4.31%Health Care Equipment & Services 7,664.86 -3.00%Oil Equipment, Services & Distribution 13,416.41 -2.74%Automobiles & Parts 6,747.66 -2.47%Oil & Gas Producers 7,321.46 -2.40%
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7 Jan 2022 08:17

LONDON BRIEFING: Shell warns on cash outflows but continues buybacks

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7 Jan 2022 07:57

LONDON MARKET PRE-OPEN: Shell says buybacks to continue "at pace"

LONDON MARKET PRE-OPEN: Shell says buybacks to continue "at pace"

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7 Jan 2022 07:49

Shell to proceed with share buyback 'at pace' despite weaker oil performance

(Sharecast News) - Royal Dutch Shell said its $7bn share buyback programme would continue "at pace" despite weaker oil product sales due to the Omicron Covid variant and forex headwinds in Turkey.

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7 Jan 2022 07:27

UPDATE 3-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds share price)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue "at pace" a $7 billion share buyback largely funded from t...

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7 Jan 2022 07:27

UPDATE 1-Shell to continue $7 bln buyback programme 'at pace'

(Adds detail)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COV...

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7 Jan 2022 07:27

UPDATE 2-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds details, graphics)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue its $7 billion share buyback programme after selling ...

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7 Jan 2022 07:10

Shell to continue $7 bln buyback programme 'at pace'

LONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COVID-19 variant.(Reporting b...

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6 Jan 2022 23:48

U.S. court rejects laundromat owners' bid to block sale of Texas oil refinery to Mexico's Pemex

By Stefanie EschenbacherHOUSTON/MEXICO CITY, Jan 6 (Reuters) - A U.S. court on Thursday tossed out a request from two laundromat owners to block Mexican state oil company Petroleos Mexicanos (Pemex) from acquiring majority control of a Texas oil r...

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6 Jan 2022 12:16

UPDATE 2-Key Kazakh oil fields pump despite protests

(Updates with Shell, details, background)By Ron Bousso and Rowena EdwardsLONDON, Jan 6 (Reuters) - Oil production at Kazakhstan's top three fields is continuing even as some contractors gathered outside the largest Tengiz field in support of protes...

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6 Jan 2022 12:00

Shell-backed U.S. solar developer raises $775 million in equity

By Nichola GroomJan 6 (Reuters) - Silicon Ranch Corp, the U.S. solar project developer backed by Royal Dutch Shell, on Thursday said it raised $775 million in equity capital from new and existing investors.The announcement comes as renewable energ...

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5 Jan 2022 09:54

UPDATE 2-Commodity-linked stocks lift UK's FTSE 100 after dull start

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Ocado, LSEG, Ferguson gain as brokerages raise share ratings* Gains in oil majors offset risk-off sentiment* FTSE 100 up 0.2%, FTSE 250 of...

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4 Jan 2022 17:00

LONDON MARKET CLOSE: Stocks start 2022 in style as airlines fly higher

LONDON MARKET CLOSE: Stocks start 2022 in style as airlines fly higher

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4 Jan 2022 12:04

LONDON MARKET MIDDAY: Bright start to 2022 as travel stocks take off

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3 Jan 2022 13:26

U.S. refiner HollyFrontier warns of lower than expected throughput

Jan 3 (Reuters) - U.S. oil refiner HollyFrontier Corp's fourth-quarter throughput will be lower than forecast, hit by weather and turnaround setbacks at refineries in Washington, New Mexico and Oklahoma, the company warned on Monday.Flooding in B...

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31 Dec 2021 13:08

LONDON MARKET CLOSE: Muted finish as FTSE 100 rallies 14% in 2021

LONDON MARKET CLOSE: Muted finish as FTSE 100 rallies 14% in 2021

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