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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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21 Dec 2021 12:00

Oman's gas project for block 10 in Saih Rawl filed is expected to reach production of 0.5 bln cubic feet per day - ministry

Cairo, Dec 21 (REUTERS) - Oman's energy ministry said on Tuesday that the gas project for block 10 in the Saih Rawl gas field is expected to reach production of 0.5 billion cubic feet of gas per day.It added on Twitter that the project start up is...

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21 Dec 2021 09:41

UPDATE 2-European shares rebound from Monday sell-off as energy stocks, miners jump

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* ING to quit French retail banking business* Sanofi's $1 bln Amunix buyout to add to drugmaker's pipeline* European chipmakers rise on Micr...

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20 Dec 2021 11:27

Britain consults on climate checks for new oil and gas licences

LONDON, Dec 20 (Reuters) - Britain on Monday called for views on potential checks for new oil and gas licences to assess whether projects are in line with the country’s climate commitments.Britain has a target to reach net zero emissions by 2050 a...

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20 Dec 2021 09:54

UPDATE 2-UK shares fall as Omicron concerns hit commodity, travel stocks

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Standard Chartered fined $61.51 mln for regulatory lapses* Oil, metal prices fall as Omicron fuels demand worries* FTSE 100 down 1.0%, FTSE...

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17 Dec 2021 17:04

LONDON MARKET CLOSE: FTSE 100 outperforms Europe as Omicron cases rise

LONDON MARKET CLOSE: FTSE 100 outperforms Europe as Omicron cases rise

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17 Dec 2021 16:35

UPDATE 4-Brazil's oil auction raises $2 billion as Total, Shell pile in

(Adds comments from analyst, TotalEnergies)By Gram Slattery, Marta Nogueira and Sabrina ValleRIO DE JANEIRO, Dec 17 (Reuters) - France's TotalEnergies , Royal Dutch Shell, Malaysia's Petronas and Qatar Energy on Friday scooped up big offshore field...

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17 Dec 2021 16:35

UPDATE 3-Brazil's offshore field raise $2 billion as Total, Shell pile in

(Adds details on production, updates share prices)By Gram Slattery, Marta Nogueira and Sabrina ValleRIO DE JANEIRO, Dec 17 (Reuters) - France's TotalEnergies , Royal Dutch Shell, Petrobras, Malaysia's Petronas and Qatar Energy scooped up big offsho...

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17 Dec 2021 16:35

UPDATE 2-Total, Shell pile into Brazil's offshore fields in $2 billion sale

(Adds details on bids, adds analyst comment)By Gram Slattery, Marta Nogueira and Sabrina ValleRIO DE JANEIRO, Dec 17 (Reuters) - TotalEnergies SE , Royal Dutch Shell PLC, Petrobras, Petronas and Qatar Energy scooped up two blockbuster offshore fiel...

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17 Dec 2021 16:35

UPDATE 1-Foreign oil firms pile into Brazil's offshore fields in $2 billion sale

(Updates with results of auction)By Gram Slattery, Marta Nogueira and Sabrina ValleRIO DE JANEIRO, Dec 17 (Reuters) - Petrobras, Petronas, TotalEnergies SE, Royal Dutch Shell and Qatar Energy scooped up two blockbuster offshore fields in Brazil on ...

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17 Dec 2021 11:24

Just Eat adds Asda to platform, first UK partnership in grocery sector

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17 Dec 2021 11:00

Top oil majors set for 2nd shot at coveted Brazil 'pre-salt' offshore fields

By Gram Slattery, Marta Nogueira and Sabrina ValleRIO DE JANEIRO, Dec 17 (Reuters) - The world's top oil majors will compete in Brazil on Friday for the chance to snatch up some of the world's most coveted offshore oilfields, a test of the nation'...

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17 Dec 2021 09:52

IN BRIEF: Smart Metering extends exclusivity agreement with Shell

IN BRIEF: Smart Metering extends exclusivity agreement with Shell

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17 Dec 2021 07:59

Just Eat strikes first British grocery deal with Asda

AMSTERDAM, Dec 17 (Reuters) - Just Eat Takeaway.com said on Friday it had struck a deal with British supermarket group Asda to sell groceries through its delivery platform.The deal, Just Eat's first with a major British supermarket chain, comes a...

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17 Dec 2021 07:51

LONDON MARKET PRE-OPEN: UK retail sales up; Johnson Matthey sells unit

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16 Dec 2021 22:13

UPDATE 3-Royal Dutch Shell confirms delay in sale of Texas refinery to Mexico's Pemex

(Adds bakground from Pemex source)By Stefanie Eschenbacher and Erwin SebaMEXICO CITY/HOUSTON, Dec 16 (Reuters) - Royal Dutch Shell on Thursday confirmed a Reuters report that the sale of its controlling interest in a Texas refinery to Mexican state...

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