Resources sector engineer AMEC Foster Wheeler (AMFW) is the winner this morning, +15% thanks to a £2.2bn all-share offer from peer Wood Group (WG). This offsets a poor (albeit in-line) set of 2016 results, trading profits hit by lower oil prices weighing on the key Oil & Gas market. The deal appears beneficial for both…
The UK’s Banks may not be among this week’s UK Index winners but technical signals and supportive messages from some major financial institutions means we can find reason to be bullish on the sector’s near-term prospects. What is it we are focusing on? What makes us consider Barclays, HSBC, Lloyds, RBS and Standard Chartered as…
We’ve been hearing about it non-stop for months on end. First the Supreme Court case, now the House of Lords. But finally, next week should see the end of the debate as Prime Minister Theresa May is expected to officially announce the UK’s intention to leave the European Union. Looking back, the day after the…
10 Mar CityWire But others questioned whether the deal would lead to a truly independent Openreach. ‘Is this simply a legal fudge on an existing subsidiary to get everyone off its back?’ said Mike van Dulken, head of research at Accendo Markets. ‘Does the fact that shares in competitors Sky, Vodafone and TalkTalk have barely moved suggest doubts…
BT is the blue-chip winner this morning, its shares +4% on headlines news that it has bowed to regulatory pressure and competitor criticism, agreeing to legally separate Openreach, its network that serves as the backbone of the UK’s physical telecommunications network. The deal gives Openreach its own board (majority independent) and control of assets, and…
Insurer Aviva (AV.) is the darling blue-chip this morning after a 6% bullish breakout to test 22-months highs of 545p. The fuel for this is not so much solid 2016 financial results, although these are what have enabled management to entice in fresh bulls with an attractive 12% dividend hike and the promise of additional…