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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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10 Dec 2021 12:17

LONDON MARKET MIDDAY: Stocks lower ahead of key US inflation report

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10 Dec 2021 10:41

Shell shareholders vote for move to Britain -preliminary results

AMSTERDAM, Dec 10 (Reuters) - In a preliminary result, Royal Dutch Shell shareholders on Friday voted in favour of a plan to move the company's headquarters and its tax home to Britain.Chairman Andrew Mackenzie announced the preliminary results, ...

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10 Dec 2021 10:17

Siccar Point CEO says Cambo oilfield project paused after Shell exit

LONDON, Dec 10 (Reuters) - Siccar Point CEO Jonathan Roger said on Friday that Royal Dutch Shell's decision last week not to progress the Cambo oilfield project in the British North Sea means the development will have to be paused.Siccar, which ow...

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10 Dec 2021 10:08

UPDATE 1-Royal Dutch Shell shareholders expected to approve move to London

* If approved, Shell's move expected in early 2022* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Updates with colour from meeti...

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10 Dec 2021 00:25

UPDATE 2-Royal Dutch Shell shareholders back plan to shift to London

* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Recasts with shareholder vote)By Toby Sterling and Ron BoussoROTTERDAM/LONDON, D...

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9 Dec 2021 13:37

S.Africa energy minister defends Shell's planned seismic blasting on Wild Coast

* S.Africans protest against oil search in pristine stretch* Area home to whales, penguins, dolphins, seals* Objectors want Africa to stay poor, Gwede Mantashe saysBy Tim CocksJOHANNESBURG, Dec 9 (Reuters) - South Africa's energy minister defended o...

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9 Dec 2021 10:10

UPDATE 2-European shares fall again on Omicron worries

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Deutsche Bank skids after DoJ violation report* Defensive sectors cap losses* Investors eye U.S. CPI data due Friday (Updates to close)By ...

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6 Dec 2021 16:58

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

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6 Dec 2021 12:16

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

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6 Dec 2021 12:13

UPDATE 4-BP says Brent benchmark reform should include U.S. oil, dump Brent

(Adds background)By Julia PayneLONDON, Dec 6 (Reuters) - BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have eva...

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5 Dec 2021 13:57

S.Africans protest against Shell oil exploration in pristine coastal area

By Siyabonga SishiPORT EDWARD, South Africa, Dec 5 (Reuters) - South Africans took to their beaches on Sunday to protest against plans by Royal Dutch Shell to do seimsic oil exploration they say will threaten marine wildlife such as whales, dolphi...

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3 Dec 2021 16:05

UK shareholder meetings calendar - next 7 days

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3 Dec 2021 14:31

Nigeria's Bonga oil export terminal in maintenance until next week - Shell

LONDON, Dec 3 (Reuters) - Nigeria's Bonga crude oil export terminal is undergoing planned maintenance until next week, operator Shell said on Friday.Bonga is typically one of the larger export streams from Africa's largest oil producer. It was sch...

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3 Dec 2021 12:06

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

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3 Dec 2021 10:19

Shell wins court case to start seismic surveys offshore South Africa

CAPE TOWN, Dec 3 (Reuters) - A South African high court on Friday struck down an urgent application brought by environmentalists to stop oil major Royal Dutch Shell starting seismic surveys to explore for petroleum systems off the eastern seaboar...

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