Market Commentary - Housing, Infrastructure, Construction and Services 8th June 2017
The proposed offer by Elis for Berendsen has been increased to the equivalent of 1250p (plus 11p of dividend), from 1180p and at 6.35pm yesterday it was announced that it is now recommended by the acquiree’s board. Two macro pieces of news are worth considering. The Halifax Building Society yesterday indicated that house prices are growing at the slowest rate for four years at 3.3%, which is believable and consistent with other monitors of house prices. The OECD stated the UK needs to take steps to counteract the adverse impact of Brexit and slowing real growth in real household incomes; the recommended steps included more borrowing.
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Porcupine Basin attracts Total
Total is the latest major oil company to move into the Porcupine Basin offshore Ireland, a region that has been generating interest across the industry. It has entered into two separate agreements with Providence Resources and Sosina Exploration that will give it the option to farm into Frontier Exploration Licence FEL 2/14 as well as securing a 50% WI and operatorship of Licensing Option 16/27. FEL 2/14 is the location of the upcoming 53/6-A Druid/Drombeg well which is due to spud at the end of this month and was highlighted in our ‘Wells to watch 2017’ report. Click here for report LO 16/27 is to the north of Druid/Drombeg and contains the Avalon prospect.Providence has also agreed an option to farm out a further 20% of LO 16/27 to Cairn.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 7th June 2017
Galliford Try, Workspace and St Modwen have news this morning. Yesterday we attended Morgan Sindall’s Capital Markets Day. The upwards moves yesterday were unconvincing, befitting the uncertainty we know exists
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 6th June 2017
VP plc, WYG, Countrywide and Fulcrum Utility Services grab the headlines in the HICS sector this morning. There were few upwards moves in the HICS universe yesterday. The downwards moves were more numerous but they were small indicating the ebb and flow of trading rather than big changes.
Read more...Edison Emerging Markets Gas Conference 2017
Companies presenting at this year’s conference include: Ophir Energy, Canacol Energy, Green Dragon Gas, SDX energy and Aminex.
Whilst most market commentators expect oil demand to continue to grow over the next twenty years, oil is expected to lose its dominance as the largest component of primary energy supply with cleaner sources such as gas, hydro and renewables accounting for c.40% of supply by 2035.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 5th June 2017
Telford Homes provides the news today with an announcement that it has signed a development agreement with US build to rent specialist Greystar to deliver 894 new homes on two sites at Nine Elms. There is some new news planned for this week with Fulcrum Utility Services having finals on Tuesday and Morgan Sindall has a site visit. On Wednesday Mears has its AGM and Halifax Building Society is due to release its monthly price index; St Modwen is also due to make an update on election day and on Friday there is no planned news.
Read more...INtel vs. ARM - Silver Bullet pt. II
Implementation and performance will be everything.
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