SOC.DU - SUBSEA 7 S.A. DL 2

Dusseldorf - Dusseldorf Delayed price. Currency in EUR
9.47
+0.03 (+0.30%)
At close: 5:07PM CET
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Previous close9.44
Open9.41
Bid0.00 x 0
Ask0.00 x 0
Day's range9.41 - 9.53
52-week range7.83 - 12.02
Volume300
Avg. volume0
Market capN/A
Beta (3Y monthly)N/A
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Megamerger Could Create The Next Deepwater Oil Giant
    Oilprice.com

    Megamerger Could Create The Next Deepwater Oil Giant

    Offshore oilfield service companies Saipem and Subsea 7 could be considering a merger, a deal that would create a new deepwater drilling giant

  • Reuters - UK Focus

    LIVE MARKETS-Mystery solved: sterling’s latest highs explained

    * BT falls after Labour nationalisation plan Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. The cause was probably the fact that two Brexit Party leaders announced, just before candidate nominations closed at 16.00 GMT, that they were not going to run in the UK's Dec. 12 election. The Brexit Party candidates for Hove and for Dudley North endorsed the Conservatives candidates instead.

  • Italy’s Saipem to Consider Combining With Rival Subsea 7
    Bloomberg

    Italy’s Saipem to Consider Combining With Rival Subsea 7

    (Bloomberg) -- Saipem SpA is considering a combination with rival Subsea 7 SA in what could rank as one of the European oil services industry’s biggest-ever deals, people with knowledge of the matter said.The Italian company is pursuing a potential transaction with Norway-listed Subsea 7 as it seeks to bulk up and weather an industry downturn, according to the people, who asked not to be identified because the information is private.Subsea 7, which has a market value of about $3.3 billion, rose as much as 8.4% in Oslo trading Friday for the biggest advance in more than two years. Saipem jumped as much as 5.3%. Both companies later pared their gains.Saipem, whose biggest shareholder is Italian energy giant Eni SpA, is valued at about $4.9 billion. No final decisions have been made, and there’s no certainty the deliberations will lead to a transaction, according to the people.Subsea 7 and Saipem have held talks about a merger in previous years, though they failed to reach an agreement, the people said. Representatives for Saipem, Subsea 7 and Eni declined to comment.Falling Oil PricesThe price of Brent crude has fallen about 28% from its October 2018 peak, which has driven companies in the sector to try and bulk up to cut costs, diversify and become more competitive. Oil services providers, which supply energy explorers and producers with equipment and expertise, have been hit hard by the drop in crude prices, as their clients have cut spending on everything from drilling rigs to support platforms.The recovery for the service companies from the depths of crude’s crash that started in 2014 has been slower than anticipated. Offshore rig company Northern Drilling Ltd. canceled a deal to buy a new drillship in October while Prosafe SE, which provides accommodation vessels, has struggled. TechnipFMC Plc, formed by the combination of two service providers during the downturn, last month signaled challenges for some of its units.Subsea 7, led by Chairman Kristian Siem, made a failed attempt last year to take over McDermott International Inc. for $2 billion. Since then Subsea 7 has made some smaller acquisitions in its effort to expand through dealmaking, buying technology provider 4Subsea in October for an undisclosed sum.General Electric Co. merged its oilfield-services arm with Baker Hughes Co. in 2017. John Wood Group Plc acquired Amec Foster Wheeler Plc for almost $3 billion in stock the same year.Saipem isn’t the only company from the Italian energy industry seeking growth abroad. This year, Eni and OMV AG acquired a $5.8 billion stake in Abu Dhabi National Oil Co.’s refining unit. Since 2000, Eni has racked up 10 acquisitions each worth at least $1 billion.(Adds background in the seventh paragraph. A previous version of this story was corrected to show Eni and OMV’s investment was in the refining unit of Adnoc.)\--With assistance from Kiel Porter.To contact the reporters on this story: Ed Hammond in New York at ehammond12@bloomberg.net;Daniele Lepido in Milan at dlepido1@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.netTo contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, ;Liana Baker at lbaker75@bloomberg.net, ;Rebecca Penty at rpenty@bloomberg.net, Rakteem Katakey, James HerronFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-A correction coming?

    * UK financial sector suffers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Global markets are in cruise mode but their complacency is likely to make equity markets vulnerable to correction in the short term, UniCredit says. With sliding earnings estimates for 2020 and valuation levels limiting further upside, UniCredit expects an increasing likelihood that profit-taking will occur.

  • Reuters

    Offshore services firm Subsea 7 eyes 2020 rebound, shares jump

    Offshore services provider Subsea 7 cut its 2019 revenue outlook on Thursday but predicted a rebound next year as demand for oilfield services and from renewable energy providers is set to increase, boosting its shares almost 6%. Subsea 7 now expects a slight decline in revenue this year from 2018, while it had previously expected it to remain unchanged. Subsea 7's order backlog, a key indicator of future activity, rose to $4.92 billion (£3.83 billion) at the end of the third quarter from $4.59 billion (£3.57 billion) three months prior.

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