At the other end, Wood Group, the energy service company, was heavily sold after a downbeat note from UBS. The Swiss broker downgraded Wood to "neutral," saying it was trading at a 28 per cent premium. It also poured cold water on the takeover talk sparked by General Electric's takeover of Sondex this month.
"Finding credible bidders for a business as large as Wood Group is challenging," UBS said. The stock slumped 5.72 per cent to 399.
75p.
