THE FTSE 100 yesterday closed the week on a high, up 35.4 at 5636.6p.
Aug 30 2008 by Peter McCusker, The Journal
The advance of the oil services sector yesterday continued unabated as both Petrofac and Wood Group topped the FTSE 100 winners’ list.
Wood Group, which jumped 21.5p to close at 476.5p, confirmed on Thursday a tie-up with Rolls-Royce for the servicing of Malaysian oil giant Petronas’s oil turbines.
Both Wood Group and Petrofac, relative newcomers to the main index have seen consistent growth in their share price, witnessed yesterday as Petrofac rose 31.5p to close at 653p.
Yesterday also saw strong gains for Thomas Cook after the firm revealed it is in discussions with both Tui Travel and Lufthansa about a possible merger of their low-cost and charter carriers. Although Tui and Lufthansa have been investigating merger options for the last few months, it would appear Thomas Cook is new to the table. TUI Travel closed 2.25p up at 211p, while Thomas Cook gained 7.75p to close at 229p.
Ian McElroy Investment Manager Barclays Wealth
