Join our Investor Webinar on the 3rd December 18:00-19:30, with speakers from Sunda Energy and Blencowe Resources. Please register here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksWood Group (J) Share News (WG.)

Share Price Information for Wood Group (J) (WG.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 50.70
Bid: 51.20
Ask: 51.25
Change: -2.95 (-5.50%)
Spread: 0.05 (0.098%)
Open: 53.50
High: 54.40
Low: 50.70
Prev. Close: 53.65

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: Pound rises amid talks of US interest rate cuts

Tue, 20th Aug 2024 12:04

(Alliance News) - Stock prices in London took a hit going into Tuesday afternoon, with eyes on the trajectory of US interest rates.

The FTSE 100 index was down 55.96 points, 0.7%, at 8,300.98. The FTSE 250 was down 44.06 points, 0.2%, at 21,113.41, and the AIM All-Share was down 1.37 points, 0.2%, at 775.22.

The Cboe UK 100 was down 0.8% at 829.05, the Cboe UK 250 was down 0.3% at 18,496.27, and the Cboe Small Companies was down 0.2% at 16,826.52.

In European equities on Tuesday, the CAC 40 in Paris was up marginally, while the DAX 40 in Frankfurt was down 0.1%.

In economic news, the eurozone's consumer price inflation rate sped up slightly in July, official data confirmed Tuesday.

According to Eurostat, the rate of inflation in the single currency area picked up to 2.6% in July, from 2.5% in June, taking inflation back to where it stood in May.

On a monthly basis, consumer prices were flat between July and June. They had risen 0.2% in June from May.

Across the Atlantic, investors are keen to scrutinise the Fed's minutes, which are scheduled for release on Wednesday.

The Jackson Hole central bank economic symposium in Wyoming will get underway on Friday, bringing together central bankers and finance ministers, and academics and financial market players from around the world.

"Growing expectations of potential interest rate cuts by the Federal Reserve could continue to weigh on the dollar. Traders are increasingly betting on a 25-basis point cut in September, with the market pricing in a total of three rate cuts by the end of the year," said Tickmill's Joseph Dahrieh.

"However, some caution could remain as traders anticipate the Federal Reserve's Chair Jerome Powell's upcoming speech at the Jackson Hole symposium, where further clarity on the Fed's monetary policy direction is expected."

The pound was quoted at USD1.3004 at midday on Tuesday in London, higher compared to USD1.2980 at the equities close on Monday. The euro stood at USD1.1079, up against USD1.1063.

However, against the yen, the dollar was trading at JPY146.40, higher compared to JPY146.55.

Stocks in New York were called to open mixed. The Dow Jones Industrial Average was called down marginally. The S&P 500 index and the Nasdaq Composite are both called up 0.1%.

In the FTSE 100, oil majors BP and Shell were down 2.0% and 2.2%, respectively.

"Hopes of a ceasefire in Gaza and continuing concerns about Chinese demand combined to drive oil prices to their lowest levels since the beginning of August and that put index heavyweights BP and Shell under pressure," said AJ Bell's Danni Hewson.

"While oil did dip below USD76 around the beginning of August it has consistently traded above USD80 per barrel for much of this year. If oil prices remain at these levels it could help reduce inflationary pressures and give central banks more room to make interest rate cuts."

Brent oil was quoted at USD77.77 a barrel at midday in London on Tuesday, down from USD79.33 late Monday.

Also taking a hit at midday on Tuesday was BT. The London-based telecommunications operator was down 6.8%.

In the FTSE 250, John Wood rose 0.8%. It backed guidance despite first-half losses ballooning, just weeks after a Dubai suitor walked away from a GBP1.56 billion proposed takeover.

In the six months to June 30, the Aberdeen-based oilfield and engineering services firm said its pretax loss from continuing operating was USD961.7 million, widened from a USD26.0 million loss a year prior.

John Wood said this primarily reflects an impairment of goodwill of USD815 million and USD140 million of charges related to the exit of lump sum turnkey and large-scale engineering, procurement & construction work.

First half revenue fell 4.8% to USD2.84 billion from USD2.99 billion.

On London's AIM, Shuka Minerals plummeted 44%.

The mining company said it has been served an initial drawdown notice for GBP500,000 for general working capital purposes. explained that this is pursuant to the GBP2 million unsecured convertible note instrument with AUO Commercial Brokerage LLC.

"AUO has advised the company that its investment capital is currently tied up in ongoing transactions which have taken longer to conclude than they initially anticipated, and accordingly it does not have access to the requested initial CLN drawdown funds," Shuka said.

Gold was quoted at USD2,522.10 an ounce, up against USD2,503.87.

Still to come on Tuesday's economic calendar, there is inflation data from Canada at 1330 BST.

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
11 Nov 2024 16:57

London close: Stocks maintain gains ahead of UK jobs data

(Sharecast News) - London markets closed higher on Monday, with Croda International among the leaders after the specialty chemicals company reported a strong third-quarter sales update.

Read more
7 Nov 2024 16:59

LONDON MARKET CLOSE: Stocks mixed as BoE cuts with Fed set to follow

(Alliance News) - The FTSE 100 ended lower on Thursday, while mid-caps jumped, as investors weighed election outcomes, central bank decisions and a slew of earnings.

Read more
7 Nov 2024 10:36

TOP NEWS: Wood Group plunges as calls on probe after write-off woe

(Alliance News) - John Wood Group PLC shares tumbled on Thursday as the firm said it has turned to Deloitte to perform an independent review after exceptional contract write-offs.

Read more
7 Nov 2024 09:35

Wood Group announces independent review, shares crater

(Sharecast News) - Wood Group shares were in freefall on Thursday as the oil services firm announced the launch of an independent review of its business that could lead to restatements and said third-quarter trading in its Projects segment was "disappointing".

Read more
31 Oct 2024 14:52

UK earnings, trading statements calendar - next 7 days

Friday 1 November 
no events scheduled 
Monday 4 November 
Empiric Student Property PLCQ3 Results
Kingspan Group PLC Trading Statement
Kosmos Energy LtdQ3 Results
Ryanair Holdings PLCHalf Year Results
Tuesday 5 November 
Asos PLCFull Year Results
Associated British Foods PLCFull Year Results
Coca-Cola Europacific Partners PLCTrading Statement
EnSilica PLCFull Year Results
International Workplace Group PLCTrading Statement
Smiths News PLCFull Year Results
TI Fluid Systems PLCQ3 Results
TP ICAP Group PLCTrading Statement
Weir Group PLCTrading Statement
Wednesday 6 November 
Beazley PLCTrading Statement
Braemar PLCHalf Year Results
Conduit Holdings LtdQ3 Trading Statement
Domino's Pizza Group PLCTrading Statement
dotdigital Group PLCFull Year Results
JD Wetherspoon PLCTrading Statement
Lancashire Holdings LtdQ3 Results
Marks & Spencer Group PLCHalf Year Results
MaxCyte IncQ3 Results
Morgan Sindall Group PLCTrading Statement
OSB Group PLCTrading Statement
Persimmon PLCTrading Statement
TBC Bank Group PLCQ3 Results
Totally PLCHalf Year Results
Wise PLCHalf Year Results
Thursday 7 November 
Auto Trader Group PLCHalf Year Results
BT Group PLCHalf Year Results
Burford Capital LtdQ3 Results
CRH PLCQ3 Results
Derwent London PLCQ3 Results
Helios Towers PLCQ3 Results
Hikma Pharmaceuticals PLCTrading Statement
Hiscox LtdTrading Statement
Howden Joinery Group PLCQ3 Results
IMI PLCQ3 Results
ITV PLCTrading Statement
J Sainsbury PLCHalf Year Results
John Wood Group PLCQ3 Results
National Grid PLCHalf Year Results
Rolls-Royce Holdings PLC Trading Statement
RS Group PLCHalf Year Results
Tate & Lyle PLCHalf Year Results
Taylor Wimpey PLCTrading Statement
Trainline PLCHalf Year Results
Urban Logistics REIT PLCHalf Year Results
Vanquis Banking Group PLCTrading Statement
Wheaton Precious Metals CorpQ3 Results
Wizz Air Holdings PLCHalf Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
15 Oct 2024 15:39

London close: Stocks finish lower as oil prices sink

(Sharecast News) - London markets ended Tuesday in negative territory, driven primarily by a sharp decline in energy stocks following a drop in oil prices.

Read more
6 Sep 2024 09:40

LONDON BROKER RATINGS: Deutsche Bank cuts Dalata Hotel to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday:

Read more
28 Aug 2024 11:48

LONDON MARKET MIDDAY: Stocks turn red as subdued sentiment continues

(Alliance News) - Stock prices in London were lower at midday on Wednesday, as dwindling retail sales failed to boost sentiment in a muted day for the market ahead of Nvidia's second quarter results later.

Read more
28 Aug 2024 09:01

John Wood makes two sales as part of disposal programme

(Alliance News) - John Wood Group PLC on Wednesday said it has signed for the sale of its stake in Ethos Energy Group Ltd and CEC Controls Co Inc.

Read more
28 Aug 2024 08:43

LONDON MARKET OPEN: Stocks slip in slow start before Nvidia results

(Alliance News) - The FTSE 100 opened higher on Wednesday, amid a muted start for London equities, ahead of Nvidia results after the closing bell later in the day.

Read more
28 Aug 2024 07:37

LONDON BRIEFING: FTSE 100 seen higher ahead of data from Europe

(Alliance News) - The FTSE 100 was called higher on Wednesday morning, ahead of a handful of data from Europe, and as UK Prime Minister Keir Starmer meets with German Chancellor Olaf Scholz in Berlin to discuss a new partnership.

Read more
28 Aug 2024 07:16

Wood Group agrees sale of EthosEnergy, CEC Controls for $165m

(Sharecast News) - Wood Group said on Wednesday that it has agreed the sale of two businesses for around $165m as part of its programme to dispose of non-core businesses.

Read more
20 Aug 2024 16:59

LONDON MARKET CLOSE: Oil price hurts FTSE and investors dial out of BT

(Alliance News) - Falling oil prices which knocked share prices of index heavyweights, BP and Shell, plus a sharp drop in BT, weighed on London's blue-chip index on Tuesday.

Read more
20 Aug 2024 15:33

London close: Stocks finish lower as oil prices retreat

(Sharecast News) - London's stock markets ended the day in negative territory on Tuesday, pressured by declines in energy stocks as oil prices fell.

Read more

Track Your Investments

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.