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

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

London Stock Exchange
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Share Price: 196.60
Bid: 196.70
Ask: 197.00
Change: -1.30 (-0.66%)
Spread: 0.30 (0.153%)
Open: 202.00
High: 202.00
Low: 195.50
Prev. Close: 197.90
WG. Live PriceLast checked at -

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Sector movers: ARM lifts tech stocks, Wood Group boosts oil services

Thu, 10th May 2012 16:27

The technology hardware and equipment sector was performing strongly today with heavyweight constituent ARM Holdings providing a lift. The FTSE 100 chip designer was gaining over 4% in afternoon trade riser after Bernstein upgraded its rating on the stock from underperform to market perform and raised its target price from 460p to 490p. Meanwhile, Seymour Pierce initiated coverage on ARM today with a buy recommendation.Oil equipment and services stocks were also on the up, after a strong trading update from engineering group Wood Group, which said it has seen growth across all its divisions in the first half of its financial year although downstream operations (building refineries to process oil and gas) are being hit by lower expenditure in the US. Today's update makes clear there is a plethora of upstream projects with several of the construction majors including Daewoo, Chevron and Samsung working with Wood Group. Wood Group PSN - which provides engineering support to existing facilities - is seeing "robust activity levels" while the turbines division, Wood Group GTS , is seeing "good" growth in underlying earnings. Shares rose 5.5%.The sector may also have been helped higher by a report by the Organization of the Petroleum Exporting Countries (OPEC) which said it is pumping oil at levels not seen since the summer of 2008.OPEC said that global oil demand would grow by 900,000 barrels a day (bpd) in 2012, above its previous estimate of 800,000bpd growth. "Given the stabilisation of the US economy and the shutdown of the Japanese nuclear power plants, world demand has - at least, for the short term - stopped its decline and has begun to show growth," it said.Sector peers Petrofac and AMEC were performing strongly this afternoon.Top performing sectors so far todayTechnology Hardware & Equipment 709.93 +5.75%Oil Equipment, Services & Distribution 25,236.75 +2.89%Industrial Transportation 2,374.75 +2.48%Electronic & Electrical Equipment 3,261.31 +2.39%Life Insurance 4,064.57 +1.83%Bottom performing sectors so far todayFixed Line Telecommunications 2,411.71 -2.57%Household Goods & Home Construction 6,820.60 -2.12%Personal Goods 22,010.84 -1.72%Tobacco 35,820.64 -1.13%Beverages 11,309.71 -1.00%BC
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TOP NEWS: John Wood gets "fourth and final" Sidara takeover bid

(Alliance News) - John Wood Group PLC on Wednesday confirmed that Dar Al-Handasah Consultants Shair & Partners Holdings Ltd has made another cash takeover offer.

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Sidara raises proposed buyout offer for UK's Wood Group for third time

May 29 (Reuters) - Dubai-based engineering and consulting firm Sidara on Wednesday raised its proposed takeover offer for John Wood Group for the third time, saying that was its "final offer" for the British oilfield services and engineering company.

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Sidara makes final takeover approach to Wood Group at 230p a share

(Sharecast News) - Wood Group said on Wednesday that it was evaluating a fourth and final "unsolicited, preliminary and conditional" takeover proposal from Dubai-based engineering and consulting firm Sidara at 230p a share.

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