London open: Stocks rebound from five-week low as energy shares gain
11th Dec 2014 08:21
UK stocks edged higher on Thursday after sinking to a five-week low, though gains were only modest ahead of a data-heavy session. The FTSE 100 was up 0.3% at 6,520 early deals, helped by a small rebound in the energy sector. A three-day sell-off wiped 3.5% off the value of the Footsie and sent the
Read moreFriday tips round-up: Centrica, Babcock
21st Nov 2014 13:41
There are far too many sources of uncertainty around integrated energy company Centrica right now. The company's businesses have been hit by warm weather and declining oil and gas prices. An improvement can be expected next year, but it will be largely offset by a change in the tax regime governing
Read moreFTSE 100 movers: Miners hit by weak data, but Babcock and Johnson Matthey jump
20th Nov 2014 14:00
Mining stocks were suffering steep losses on Thursday as a wave of disappointing economic data prompted investors to scale back their appetite for risk. Figures from top metals consumer China in particular were weighing on sentiment, as its manufacturing sector stagnated in November. Rio Tinto, Angl
Read moreBroker tips: Babcock, Johnson Matthey, Great Portland Estates
20th Nov 2014 13:07
Engineering support services group Babcock International's interims were "very solid", Investec analyst John Lawson said in a research note on Thursday. "The group continues to successfully replenish its order book (an ongoing challenge for any outsourcing group) and yesterday's announcement with re
Read moreInvestec describes Babcock's interims as 'very solid'
20th Nov 2014 12:25
Engineering support services group Babcock International's interims were "very solid", Investec analyst John Lawson wrote in a research note e-mailed to clients on Thursday. Underlying revenues sped ahead at a 10% clip, up from 9% previously, while underlying group margins, at 10.2%, remained "rock
Read moreLondon midday: UK stocks fall as global PMI data dampens sentiment
20th Nov 2014 11:45
The UK stock market slumped on Thursday as a wave of disappointing economic data and speculation about a looming interest-rate hike in the States prompted investors to tread cautiously. London's FTSE 100 was down 0.7% at 6,649 by midday, with the heavyweight mining sector providing a drag as figures
Read moreBabcock International impresses as Avincis lifts interim profits
20th Nov 2014 08:05
Interim results from engineer Babcock International impressed investors after profits, earnings and cash hit or beat targets. The FTSE 100 company, which on Wednesday confirmed a major contract with the Ministry of Defence, lifted pre-tax profits 32% to £187m on revenue up 24% to £2.1bn in the six m
Read moreBabcock chosen by MoD as preferred bidder for Defence Support Group acquisition
19th Nov 2014 16:14
British defence firm Babcock International Group has been chosen by the UK Ministry of Defence (MoD) as preferred bidder for the acquisition of the Defence Support Group. Defence Support Group is the MoD agency responsible for storage, maintenance, repair and overhaul of military vehicles and equipm
Read moreMorgan Stanley upgrades 'oversold' cyclicals
7th Oct 2014 09:04
Morgan Stanley has advised clients to increase their portfolio exposure to European cyclical stocks, upgrading the "oversold" industrials sector in particular. The bank said weaker growth now seemed to be increasingly priced into cyclical stocks, with forecast price-earnings (p/e) ratios at their lo
Read moreLondon midday: Stocks in the red as ECB rate decision edges closer
2nd Oct 2014 11:29
UK stocks were starting to come off their earlier losses around midday, having fallen sharply early on ahead of the European Central Bank (ECB) rate decision. At the midday point, the FTSE was 13.95 points lower at 6,543.57. Although the ECB is not expected to adjust its current rate, there was spe
Read moreBabcock signs deal with MoD
1st Oct 2014 07:43
Babcock International has signed a maritime support delivery framework (MSDF) with the Ministry of Defence (MoD). Under the £2.6bn agreement, which replaces the warship support modernisation initiative contracts, Babcock will continue to provide services at HMNB Clyde and HMNB Devonport to March 202
Read moreOil, Life Insurance and Banking would pay steepest price for independence, Liberum says
18th Sep 2014 12:54
In a research note published on Thursday afternoon Liberum explains to clients that in the event of Scotland voting in favour of independence then the worst affected sectors would be: Oil, Life Insurance and Banking. The analysts base their call on what happened following the mini-scare of 8 Septemb
Read moreFTSE 100 movers: AB Foods continues to feel impact of lower sugar prices, FX
8th Sep 2014 15:01
Food, ingredients and retail group Associated British Foods was a big faller despite reiterating its guidance for profit growth in the year to 13 September despite the continued impact of lower sugar prices and currency movements. AB Foods said that strong profit performances from the Primark and gr
Read moreBabcock JV awarded contact to manage nuclear sites
1st Sep 2014 14:15
Cavendish Fluor Partnership, a joint venture between Fluor Corporation and Cavendish Nuclear, a subsidiary of Babcock International, has been formally awarded a contract to manage 12 UK nuclear sites. The agreement, under which it will also manage the sites' respective decommisioning programmes, co
Read moreBabcock scores five-year training contract with Armed Forces
1st Aug 2014 08:43
Engineering support services organisation Babcock has landed a new five-year contract to supply and support training to the Armed Forces across six Defence College of Technical Training schools. The value of the deal, including relocation and options to extend for two single year periods, is expec
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