Petrofac Ltd. (PFC)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE Small Cap

12.50p
   
  • Change Today:
      0.12p
  • 52 Week High: 51.80
  • 52 Week Low: 10.50
  • Currency: UK Pounds
  • Shares Issued: 522.05m
  • Volume: 1,135,592
  • Market Cap: £65.26m
  • RiskGrade: 428

London close: Stocks manage to finish above the waterline

By Josh White

Date: Monday 29 Apr 2024

LONDON (ShareCast) - (Sharecast News) - London markets showed resilience on Monday, finishing in the green as investors looked to the start of the US Federal Reserve's policy meeting.

The FTSE 100 edged up by 0.09% to 8,147.03, while the FTSE 250 saw more robust growth, climbing by 1.31% to reach 20,084.79.

In currency markets, sterling was last up 0.46% on the dollar to trade at $1.2551, while it increased 0.24% against the euro to change hands at €1.1710.

"As US markets have so often demonstrated, record highs tend to beget more record highs," said IG chief market analyst Chris Beauchamp.

"It's not often that the FTSE 100 can demonstrate this, but UK investors can certainly be forgiven for revelling in the current strong run.

"Of course, it is still lagging behind a number of its peers in terms of its return for the year so far, but the procession of new highs should continue to attract fresh flows to the UK market."

Data shows annual rise in UK house prices

In economic news, fresh industry data revealed a significant rise in UK house prices over the past year, driven notably by a burgeoning demand for smaller residential properties.

According to research from Halifax, annual property price growth hit 1.9% in February, reaching £282,430.

That marked a noteworthy recovery from October's low of -4.1%.

However, Halifax noted considerable discrepancies in price growth across different property types.

While prices of flats and terraced houses soared by 2.7% and 2.6%, respectively, semi-detached properties experienced a more modest increase of 1.7%.

On the continent, economic sentiment faced challenges across both the eurozone and the wider EU in April, according to survey data, coupled with a downturn in employment expectations.

The European Commission's Economic Sentiment Indicator (ESI) recorded a slight decline in both regions, with the EU slipping 0.3 points to 96.2 and the euro area dropping 0.6 points to 95.6.

Similarly, the Employment Expectations Indicator (EEI) witnessed a more pronounced decrease in both areas, declining 0.5 points to 101.7 in the EU and 0.7 points to 101.8 in the eurozone.

Additionally, preliminary data indicated a modest uptick in German inflation for April, primarily attributed to a rise in food prices, juxtaposed with less-than-expected declines in energy costs.

Consumer prices, harmonised on an EU basis, increased by 2.4% in April compared to 2.3% year-on-year in March.

Expectations for Eurozone inflation, due on Tuesday, anticipated no change at 2.4%, with cuts forecast for June.

Frasers in the green, Petrofac tumbles

On London's equity markets, Frasers Group jumped 3.08% after announcing an £80m share buyback initiative.

Prudential added 1.58%, propelled by robust results from Asia-Pacific insurer AIA Group.

Similarly, Anglo American saw a significant uptick of 3.54% following reports indicating a potential improved offer from BHP Group after its initial proposal was rejected.

Hipgnosis Songs Fund registered a modest increase of 0.96% as it agreed to terms on a £1.2bn takeover by private equity investor Blackstone, amidst an ongoing battle with rival Concord.

Insurer Beazley rose 2.19%, after reporting first-quarter results in line with guidance, with insurance written premiums growing at high single digits, instilling optimism among investors.

On the downside, JD Sports Fashion faced a 2.5% decline after Barclays downgraded the shares and adjusted the price target downwards.

The downgrade followed the retailer's recent acquisition of US rival Hibbett for $1.1bn.

Outside the FTSE 350, Petrofac experienced a notable downturn, plummeting by 29.33%.

The company announced a delay in the publication of its full-year results and indicated the possibility of converting a significant portion of its existing debt to equity, prompting concerns among investors.

Reporting by Josh White for Sharecast.com.

Market Movers

FTSE 100 (UKX) 8,147.03 0.09%
FTSE 250 (MCX) 20,084.79 1.31%
techMARK (TASX) 4,595.72 1.00%

FTSE 100 - Risers

Entain (ENT) 818.20p 4.34%
Anglo American (AAL) 2,750.00p 4.05%
Smith (DS) (SMDS) 351.60p 3.41%
Frasers Group (FRAS) 820.50p 3.08%
Beazley (BEZ) 657.50p 3.06%
Prudential (PRU) 742.60p 2.60%
Phoenix Group Holdings (PHNX) 496.20p 2.31%
St James's Place (STJ) 444.80p 2.16%
Smurfit Kappa Group (CDI) (SKG) 3,500.00p 2.10%
Airtel Africa (AAF) 112.10p 2.09%

FTSE 100 - Fallers

JD Sports Fashion (JD.) 116.90p -2.70%
Ashtead Group (AHT) 5,974.00p -2.13%
B&M European Value Retail S.A. (DI) (BME) 517.00p -2.05%
Centrica (CNA) 131.05p -1.98%
Convatec Group (CTEC) 253.20p -1.78%
NATWEST GROUP (NWG) 302.50p -1.59%
London Stock Exchange Group (LSEG) 8,796.00p -1.54%
InterContinental Hotels Group (IHG) 7,912.00p -1.52%
Rolls-Royce Holdings (RR.) 414.80p -1.50%
Croda International (CRDA) 4,635.00p -1.45%

FTSE 250 - Risers

Playtech (PTEC) 514.00p 14.10%
Future (FUTR) 650.00p 6.73%
Helios Towers (HTWS) 99.40p 5.41%
Baltic Classifieds Group (BCG) 236.50p 5.11%
Dr. Martens (DOCS) 76.30p 4.95%
Essentra (ESNT) 177.00p 4.24%
Hargreaves Lansdown (HL.) 784.60p 3.92%
Bakkavor Group (BAKK) 119.50p 3.91%
Mobico Group (MCG) 54.85p 3.78%
Oxford Instruments (OXIG) 2,260.00p 3.67%

FTSE 250 - Fallers

Moonpig Group (MOON) 151.00p -2.33%
Coats Group (COA) 80.70p -1.47%
Smithson Investment Trust (SSON) 1,374.00p -1.01%
TI Fluid Systems (TIFS) 143.00p -0.97%
Howden Joinery Group (HWDN) 879.50p -0.96%
4Imprint Group (FOUR) 6,220.00p -0.96%
Impax Environmental Markets (IEM) 385.50p -0.77%
Cranswick (CWK) 4,260.00p -0.70%
NB Private Equity Partners Ltd. (NBPE) 1,632.00p -0.61%
Travis Perkins (TPK) 761.50p -0.59%

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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Petrofac Market Data

Currency UK Pounds
Share Price 12.50p
Change Today 0.12p
% Change 0.97 %
52 Week High 51.80
52 Week Low 10.50
Volume 1,135,592
Shares Issued 522.05m
Market Cap £65.26m
RiskGrade 428

Petrofac Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
5.43% above the market average5.43% above the market average5.43% above the market average5.43% above the market average5.43% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Price Trend
48.11% below the market average48.11% below the market average48.11% below the market average48.11% below the market average48.11% below the market average
40% below the sector average40% below the sector average40% below the sector average40% below the sector average40% below the sector average
Income
1.74% below the market average1.74% below the market average1.74% below the market average1.74% below the market average1.74% below the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
72.01% below the market average72.01% below the market average72.01% below the market average72.01% below the market average72.01% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 5
Sell 0
Strong Sell 1
Total 7
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Petrofac Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 25-Apr-19
Paid 18-Oct-19 24-May-19
Amount 12.70¢ 25.30¢

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 30,248 @ 12.50p
16:35 4,594 @ 12.50p
16:35 1,264 @ 12.50p
16:35 11,160 @ 12.50p
16:35 371 @ 12.50p

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