Wood Group (J) Share News (WG.)

Evraz, the steel, mining and vanadium group, was recovering well a day after proposing that a covenant be removed relating to $577m of outstanding guaranteed notes due 2015. The miner is seeking to remove a covenant requiring the company to maintain the net leverage ratio at or below a specified level. The statement from the company stressed that it is not actually in breach of this covenant nor any others, but the market still took fright at the news. Fellow mining stocks, as well as banks, were performing relatively well today despite the macroeconomic uncertainty, with Kazakhmys, Xstrata, RBS and Barclays among the best performers. GKN was also a strong riser, boosted in part by reports that it has revised its Memorandum of Understanding (MOU) with Shanghai Aircraft Manufacturing Company and formed a deal over manufacturing development and intellectual property rights. Oil giant BP rose after announcing that it is close to resolving claims with US regulators relating to the Gulf of Mexico oil spill in 2010. The resolutions are expected to represent the largest criminal penalty in history. Meanwhile, oilfield services firm Wood Group sank after Nomura named it as one of the "top 'reduces' for 2013." The broker said that the stock is trading at a 24% premium to the sector average which is "unwarranted given undifferentiated business model and limited upside to EPS." Utilities company Pennon Group is the worst performer now after saying its recycling revenues in the first half are expected to be £18.8m lower than those from the same period last year.Life insurer Resolution tanked after a somewhat mixed update, saying that new business profitability is continuing to improve, but that its international business is "below par" and it will incur higher costs from IT updates. Barclays Capital reduced its target price on AMEC from 1,350p to 1,320p, and retained its underweight rating.FTSE 100 - RisersEvraz (EVR) 225.00p +3.50%Royal Bank of Scotland Group (RBS) 283.90p +2.23%Kazakhmys (KAZ) 670.00p +1.36%Barclays (BARC) 240.75p +1.30%Xstrata (XTA) 959.40p +1.23%GKN (GKN) 204.40p +0.84%Admiral Group (ADM) 1,069.00p +0.66%IMI (IMI) 940.50p +0.59%BP (BP.) 427.50p +0.41%CRH (CRH) 1,115.00p +0.36%FTSE 100 - FallersPennon Group (PNN) 615.50p -8.13%Wood Group (John) (WG.) 792.50p -5.65%Resolution Ltd. (RSL) 229.60p -4.13%International Consolidated Airlines Group SA (CDI) (IAG) 161.00p -3.30%Amec (AMEC) 1,026.00p -2.84%Kingfisher (KGF) 275.80p -2.54%Petrofac Ltd. (PFC) 1,514.00p -2.39%Rolls-Royce Holdings (RR.) 852.50p -2.12%Marks & Spencer Group (MKS) 371.00p -1.96%Prudential (PRU) 854.00p -1.95%NR