ENERGY services heavyweight Wood Group attracted attention yesterday after positive broker comment.
Shares in the Aberdeen-based firm, the FTSE-100's newest entrant, rose 1.1 per cent or 4.75p to 434.25p as Arden Partners slapped a "buy" recommend
ation on the stock.
Analysts said they had promoted Wood to one of their core oil service sector buys following recent price weakness.
Elsewhere in the sector, Cairn Energy eased 1.7 per cent to 3,080p despite this week's decision by the Indian government to approve a plan for Cairn India to recover the costs of a key oil pipeline from oil revenues.
ABN Amro, which rates Cairn as a "buy", said the issue had been "rumbling on for some" and news of a resolution was "positive for sentiment". Dana Petroleum rose 3.4 per cent to 1,788p as ABN brought back its recommendation on the oil explorer a notch to "add" following this week's full-year results.
The broker stressed that sentiment was expected to remain positive ahead of further drilling news.
Food casings manufacturer Devro advanced 2.2 per cent to 83.25p after it told investors at its annual meeting that management expectations for full-year profits were unchanged.
The full article contains 217 words and appears in The Scotsman newspaper.
