EnQuest (ENQ)

Sector:

Energy Producers

Index:

FTSE Small Cap

16.12p
   
  • Change Today:
      0.12p
  • 52 Week High: 18.47
  • 52 Week Low: 12.10
  • Currency: UK Pounds
  • Shares Issued: 1,910.19m
  • Volume: 5,972,668
  • Market Cap: £307.92m

London close: Stocks at highest since September on ECB optimism, upbeat data

Date: Friday 23 Jan 2015

LONDON (ShareCast) - UK stocks pushed higher on Friday, finishing at levels not seen in over four months, lifted by improving economic data and continued optimism surrounding a massive bond-buying plan by the European Central Bank (ECB).
The FTSE 100 settled up 0.5% at 6,832.83 by the end of the session despite heavy falls in the mining sector. This was the index's first close above the 6,800 mark since 19 September 2014.

Nevertheless, nervousness ahead of Sunday's general election in Greece was limiting gains in London. Analysts at Barclays said that while the latest polls suggest a victory for the anti-austerity Syriza party, "we nonetheless do not rule out a more adverse scenario in which a second round of general elections are needed, prolonging political uncertainty, affecting the economy".


The ECB unveiled on Thursday that it would buy €60bn-worth of private and public securities each month until September 2016 in a bid to revive growth and lift the euro area out of deflation.

ECB Executive Board member Benoit Coeure said in an interview on Friday that the quantitative easing programme could be increased if it doesn't have its intended impact on inflation. He said if the rate of price rises does not reach just under 2%, "then we'll have to do more or we have to do it for longer".

Global data beats forecasts

UK retail sales registered an unexpected 0.4% rise in December, boosted by an increased demand for fuel and steady sales over Christmas. Analysts had forecast sales to decline after 1.6% growth in November following the Black Friday sales. As such, sales were up 2.3% over the quarter as a whole, the highest quarterly increase since April 2002.

Business activity growth in the Eurozone accelerated at its fastest pace in five months, according to the preliminary January purchasing managers' index (PMI) data published by Markit. The preliminary estimate of the Eurozone PMI composite output index rose from 51.4 in December to 52.2, ahead of the consensus estimate of 51.8.

Meanwhile, the HSBC/Markit Chinese manufacturing PMI edged higher to 49.8 in January from 49.6 the previous month; analysts had expected a slight dip to 49.5.

Mining stocks drop

Miners such as Glencore, Antofagasta, Randgold and BHP Billiton were trading with heavy losses as metal prices weakened. Anglo American was also falling on rumours that it is looking at offloading the Dawson and Foxleigh coal mines in Australia, while Glencore was hit by a downgrade to 'underweight' by JPMorgan Cazenove.

Heading the other way were heavyweight consumer staples stocks such as Associated British Foods, Reckitt Benckiser, Unilever and Imperial Tobacco.

Vodafone was also on the rise after UBS said at the decline in organic revenues is estimated to have eased in its third quarter. The bank forecasts a return to growth in the first quarter of next year, saying that the stock "remains one of our preferred picks in the sector".

Building materials firm CRH was extending gains made on Thursday after confirming speculation that it could buy some of Lafarge and Holmium's assets ahead of their proposed merger.

The share price of oil and gas group EnQuest surged after it renegotiated covenants on its debt facilities with lenders and reassured its financial position "remains resilient" despite the recent collapse in crude prices. The company also slashed its spending budget for this year.



Market Movers
techMARK 3,090.99 +0.76%
FTSE 100 6,832.83 +0.53%
FTSE 250 16,458.90 +0.49%

FTSE 100 - Risers
Associated British Foods (ABF) 3,080.00p +3.18%
Reckitt Benckiser Group (RB.) 5,560.00p +2.96%
CRH (CRH) 1,680.00p +2.50%
Unilever (ULVR) 2,854.00p +2.48%
Pearson (PSON) 1,349.00p +2.35%
BT Group (BT.A) 431.10p +2.35%
Imperial Tobacco Group (IMT) 3,091.00p +2.35%
Reed Elsevier (REL) 1,160.00p +2.29%
Shire Plc (SHP) 4,816.00p +2.16%
International Consolidated Airlines Group SA (CDI) (IAG) 536.00p +2.10%

FTSE 100 - Fallers
Glencore (GLEN) 249.40p -5.82%
Antofagasta (ANTO) 684.50p -4.80%
Tullow Oil (TLW) 371.30p -4.38%
Anglo American (AAL) 1,103.50p -3.62%
Rio Tinto (RIO) 2,883.00p -2.81%
Randgold Resources Ltd. (RRS) 5,420.00p -2.43%
Capita (CPI) 1,082.00p -2.17%
BG Group (BG.) 891.70p -2.11%
Fresnillo (FRES) 897.00p -1.97%
BHP Billiton (BLT) 1,425.00p -1.86%

FTSE 250 - Risers
Jimmy Choo (CHOO) 178.00p +5.95%
Interserve (IRV) 523.50p +5.57%
Balfour Beatty (BBY) 227.00p +5.29%
AO World (AO.) 288.30p +5.03%
Euromoney Institutional Investor (ERM) 1,057.00p +4.86%
SSP Group (SSPG) 277.00p +4.53%
Workspace Group (WKP) 803.50p +4.35%
St. Modwen Properties (SMP) 427.80p +4.32%
Crest Nicholson Holdings (CRST) 371.30p +4.01%
Henderson Group (HGG) 237.40p +3.94%

FTSE 250 - Fallers
Vedanta Resources (VED) 430.00p -8.43%
Centamin (DI) (CEY) 66.40p -7.91%
Hunting (HTG) 460.40p -7.90%
Acacia Mining (ACA) 290.90p -6.16%
Kaz Minerals (KAZ) 197.10p -5.65%
Telecom Plus (TEP) 1,038.00p -5.12%
Supergroup (SGP) 954.00p -4.60%
PayPoint (PAY) 890.00p -3.78%
Lonmin (LMI) 174.00p -3.12%
NMC Health (NMC) 494.80p -2.60%

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

EnQuest Market Data

Currency UK Pounds
Share Price 16.12p
Change Today 0.12p
% Change 0.75 %
52 Week High 18.47
52 Week Low 12.10
Volume 5,972,668
Shares Issued 1,910.19m
Market Cap £307.92m

EnQuest Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.42% above the market average91.42% above the market average91.42% above the market average91.42% above the market average91.42% above the market average
54.67% above the sector average54.67% above the sector average54.67% above the sector average54.67% above the sector average54.67% above the sector average
Price Trend
12.36% above the market average12.36% above the market average12.36% above the market average12.36% above the market average12.36% above the market average
45.00% above the sector average45.00% above the sector average45.00% above the sector average45.00% above the sector average45.00% above the sector average
Income
38.62% above the market average38.62% above the market average38.62% above the market average38.62% above the market average38.62% above the market average
41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average
Growth
86.55% below the market average86.55% below the market average86.55% below the market average86.55% below the market average86.55% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

EnQuest Dividends

No dividends found

Trades for 31-May-2024

Time Volume / Share Price
16:41 380,085 @ 16.12p
16:40 1,500,000 @ 15.98p
16:35 1,136,509 @ 16.12p
16:35 351 @ 16.12p
16:35 3,652 @ 16.12p

EnQuest Key Personnel

CEO Amjad Bseisu
CFO Jonathan Copus

Top of Page