1630: Close London's blue chips ended today's session in the red, hit by housebuilders amid interest rate uncertainty, declines in the States early on and nerves about the situation in Iraq. Helping to drag the housing sector lower, the day's session saw the publication of a BoE survey, which has revealed that lenders expect the rate of household loan approvals to fall significantly in the Q3. In the US, PMI showed an increase to 57.5 this month from a seasonally adjusted 56.4 in May. The FTSE 100 closed down 24.64 points at 6,800.56, having come off its intra-day low of around 6,786.65 seen this morning.
Engineer Kentz rocketed after a £1.2bn cash offer from Canadian rival SNC-Lavalin. Kentz, which provides engineering and construction services to clients in the energy and resources sectors, saw shares rise almost a third today after the company's board unanimously approved a takeover bid from Montreal-based SNC-Lavalin.
The oil equipment, services and distribution sector was rising strongly today, helped by a soaring share price of engineer Kentz after a £1.2bn cash offer from Canadian rival SNC-Lavalin.
Shares in Kentz Corporation soared by as much as a third on Monday after the energy services company received a £1.2bn cash offer from Canadian rival SNC-Lavalin.
UK stocks pared losses on Monday morning but were still trading firmly in the red by midday as ongoing tensions in Iraq continued to dampen risk appetite.
FTSE 250-listed engineering group Kentz has been awarded a $125m contract with Qatargas to work on a new wastewater facility in its liquefied natural gas (LNG) plant in Qatar.
Kentz Corp. on Tuesday announced that it has been awarded a contract for the new Sadara Petrochemical Plants being constructed in Jubail Industrial City II in the Kingdom of Saudi Arabia.
Residential property owner and manager Grainger, the country's largest, climbed after saying it registered a net asset value (NAV) increase of 12.4 per cent to reach 272p over the six months ending on March 31st. Grainger was also lifted by Numis, which upgraded the stock from 'add' to 'buy', with a target price of 278p.
Credit Suisse issued a 'neutral' rating for Coca-Cola HBC after the bottling company reported a fall in first quarter revenue and volumes.
Kentz's interim statement on Friday paints an optimistic growth picture for 2014 and beyond, according to Investec.
Engineer Kentz Corporation reported growth in order intake and backlogs in the year to date, in line with management's expectations.
Oil equipment and services stocks were hit on Friday by a profit warning from sector heavyweight Petrofac, which said that its bottom line in 2014 is likely to weaken due to lower-than-expected earnings from its Integrated Energy Services (IES) division.
Engineering and construction company Kentz announced it has won a five-year contract by Fluor Kuwait, with an estimated value of 125m dollars.
AB Foods jumps, ARM and Sports Direct fall; UK borrowing falls more than expected; Chinese manufacturing still in contraction; Eurozone business activity improves.
AB Foods jumps on Primark expansion plans; Stocks rise, but upside limited; BoE minutes, economic data ahead; Chinese manufacturing PMI contracts again.
Kentz Corporation on Tuesday announced that it has secured further work on the telecommunications contract for the Fort Hills Oil Sands Project in Canada.
Ocado, Rightmove and PayPoint were registering heavy losses on Monday as technology-focused stocks bore the brunt of the wider market sell-off. UK markets were following last week's trend in the States where high growth, 'momentum shares' fell sharply as investors booked profits after the recent surge.
Markets pull back from one-month high; Crimea unrest dampens risk appetite; Housing stocks provide a drag.
Stocks track heavy losses in US and Asia; UK markets retreat from highest close since early March; CRH rises despite rivals' merger, housebuilders fall.
Stocks to track US markets lower; Germany industrial production higher than expected; Ashley reportedly acquires 11 per cent stake in House of Fraser; Caffé Nero to open 225 new stores