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

London Stock Exchange
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Share Price: 197.50
Bid: 196.50
Ask: 197.80
Change: 1.20 (0.61%)
Spread: 1.30 (0.662%)
Open: 197.80
High: 199.90
Low: 195.00
Prev. Close: 196.30
WG. Live PriceLast checked at -

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LONDON MARKET OPEN: Randgold Lifts Miners; Imagination Tech Hits ARM

Mon, 08th Feb 2016 08:33

LONDON (Alliance News) - Stocks in London opened higher Monday morning, with Randgold Resources one of the top gainers in the FTSE 100 after saying 2015 was "one of the best years in the company's history" despite experiencing a large drop in profit as it continued to battle the downturn in the market.

The gold miner, which traded up 2.9%, reported a USD260.8 million pretax profit in 2015, falling from USD353.0 million a year earlier, as revenue experienced slipped slightly USD1.00 billion from USD1.08 billion - but the miner is expecting a ramp up in production and lower cash costs during 2016.

Production and costs in the year were in line with expectations, as Randgold set a new production record of 1.2 million ounces, up 6% from 2014, whilst cash costs were down 3% year-on-year to USD679 per ounce. Sales were broadly in line with production.

However, gold prices were also much lower in 2015, averaging USD1,152 per ounce compared to USD1,264 per ounce in 2014.

Despite the fall in profit, Randgold upped its dividend for 2015 by 10% to 66.0 cents per share from 60.0 cents per share last year.

The strong results helped to push up the share price of fellow blue-chip gold miner Fresnillo, which traded up 1.8%.

The FTSE 100 traded up 0.4% at 5,872.23, the FTSE 250 was flat at 16,003.38 and the AIM All-Share was down 0.1% at 689.06.

In Europe, the French CAC 40 was down 0.2% and the German DAX 30 traded flat.

In Asia, the Nikkei 225 index in Tokyo ended up 1.1%. In China, the Shanghai stock market is closed for the entire week to celebrate Chinese New Year, while the Hong Kong market is closed until Thursday.

Elsewhere in London, broker changes were moving stocks in the FTSE 250. Poundland Group traded up 4.3%, making it the best performer in the FSTE 250. The discount retailer was upgraded by Deutsche Bank to Buy from Hold.

The bank also upgraded Carpetright, which was still untraded just after the open, up to Buy from Hold, and downgraded WH Smith, down 1.6%, to Hold from Buy.

John Wood Group, down 2.9%, and Amec Foster Wheeler, down 2.1%, were both amongst the worst mid-cap performers after the oil services companies were downgraded by Goldman Sachs and Nomura. Goldman Sachs added John Wood to its 'Conviction Sell List', while Nomura cut Amec to Neutral from Buy.

Imagination Technologies Group was the biggest faller in the FTSE All-Share, down 8.0%, after it detailed restructuring plans, including the sale of its consumer electronics business Pure, as it said Chief Executive Hossein Yassaie has stepped down with immediate effect.

Additionally, the chip designer said that it now expects to report a loss before interest and tax for its full year to end-April, as conditions in the semiconductor sector have "not improved" since its last update in December.

The company said that since it reported its first-half results in December, market conditions have not improved, and the slowdown in the semiconductor sector has continued, compounded by uncertainty over future trading prospects in China.

The downbeat tone of Imagination Technology's results weighted on larger-cap peer ARM Holdings, which was the worst performer in the FTSE 100, down 2.4%,.

Still ahead in the economic calendar, the eurozone Sentix Investor Confidence survey is at 0930 GMT and US labor market conditions index is at 1500 GMT.

By Neil Thakrar; neilthakrar@alliancenews.com; @NeilThakrar1

Copyright 2016 Alliance News Limited. All Rights Reserved.

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23 Feb 2023 08:29

Wood Group shares rally on unsolicited Apollo approach

MILAN, Feb 23 (Reuters) - Wood Group shares rallied more than 30% on Thursday after the British energy services provider said it had received and then rejected three unsolicited takeover proposals from U.S. private equity group Apollo Global Management.

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22 Feb 2023 17:49

Wood Group rejects takeover offer from Apollo

(Sharecast News) - Wood Group said on Wednesday that it has rejected three unsolicited, preliminary and conditional takeover proposals from Apollo Global Management.

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22 Feb 2023 17:37

TOP NEWS: John Wood rejects GBP1.6 billion Apollo takeover approach

(Alliance News) - John Wood Group PLC on Wednesday said it has rebuffed three unsolicited proposals for a takeover by Apollo Global Management Inc.

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26 Jan 2023 09:44

LONDON BROKER RATINGS: RBC cuts Ocado; Bernstein cuts easyJet

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

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23 Jan 2023 09:06

TOP NEWS: Endeavour Mining meets output guidance and lifts returns

(Alliance News) - Endeavour Mining PLC said its production in 2022 was at the top end of its outlook, while shareholder returns were almost double its minimum target.

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18 Jan 2023 10:39

Morgan Advanced Materials names former SSE CEO as chair designate

(Alliance News) - Morgan Advanced Materials PLC on Wednesday named former John Wood Group PLC chair and SSE PLC chief executive officer Ian Marchant as its new chair.

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18 Jan 2023 09:47

LONDON BROKER RATINGS: Bank of America and Oddo BHF cut Whitbread

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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12 Jan 2023 11:27

John Wood trading in 2022 in line with guidance; expects revenue fall

(Alliance News) - John Wood Group PLC on Thursday said results for 2022 were in line with guidance.

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12 Jan 2023 08:15

Wood Group ends year in line with guidance

(Sharecast News) - John Wood Group said in an update on Thursday that its results for 2022 were in line with guidance for revenue, adjusted EBITDA and net debt.

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5 Jan 2023 13:14

Vesuvius names John Wood's Mark Collis as new chief financial officer

(Alliance News) - Vesuvius PLC on Thursday appointed John Wood Group PLC's Mark Collis as its new chief financial officer.

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16 Dec 2022 09:14

LONDON BROKER RATINGS: Barclays cuts Bunzl to 'underweight'

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

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16 Dec 2022 08:42

LONDON MARKET OPEN: Stocks lower as central banks keep hiking rates

(Alliance News) - Stock prices in London opened lower on Friday morning as investors digested a slew of interest rate decisions from a number of major central banks.

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16 Dec 2022 07:53

LONDON BRIEFING: BT to combine units; Rio Tinto completes acquisition

(Alliance News) - Stocks in London are set to open higher on Friday as investors digest a series of central bank interest rate decisions in the past two days.

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12 Dec 2022 12:20

Jefferies upgrades Wood Group to 'buy'

(Sharecast News) - Jefferies upgraded Wood Group on Monday to 'buy' from 'hold' and hiked the price target to 190p from 150p.

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