Scots Stocks: Wood Group Falls On Industry Fears Despite Scots Firm's Rosy Forecast

Summary

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OIL services company Wood Group released yet another positive trading statement but fell on a day that oil continued to fall on expectations of large stockpiles in the US. Wood said it was increasingly confident of strong growth for the year, benefiting from increasing oil and gas spending and improving power markets round the world. However, shares fell 6.25p to 320p while oil tanker provider Abbot was hit harder, down 8.5p to 267.25p.

Mortgage lender HBOS also suffered despite continuing a share buyback programme, as a knock-on from Northern Rock's profit warning and the chance of another rate rise. The Edinburgh-based blue-chip dropped 25p to 978p, a ten-month low, while RBS fell 12p to 629p.

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Scots Stocks: Wood Group Falls On Industry Fears Despite Scots Firm's Rosy Forecast

Forth Ports lost recent gains ...

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