MARKET TALK: Qinetiq Ballot Vote Offers A Short-Term Boost

28th Jun 2010 07:28

0628 GMT [Dow Jones] Qinetiq Group's (QQ.LN) announcement that a UK workforce ballot has resulted in an overall vote in favor of proposed changes to the terms of their employment will be a boost to the share price, says an analyst. Says Qinetiq needed a majority vote for the changes, as this is essential for the group's 24-month restructuring plan. However, suggests that upside may be limited as structural uncertainties remain. Overall, says restructuring will be expensive and could be difficult. Awaits further definition of the strategy from the company. Shares closed on Friday at 117p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 28, 2010 02:28 ET (06:28 GMT)