Weir mines for growth

Weir's (WEIR) shares experienced a minor sell-off following the release of the engineering group’s half-year results, presumably in response to a 27 per cent contraction in its oil and gas orders compared with the first half of 2018. "Oil and gas markets in North America continued to be challenging," chief executive Jon Stanton acknowledged, as refurbishment and replacement activity came down significantly. Pressure pumping markets have been oversupplied, and the market “has yet to soak up that excess capacity”, Weir says.