FirstGroup sees strong growth in UK Rail
2nd Oct 2012 07:07
FTSE 250 transport firm FirstGroup said that trading in the first half has been in line with its expectations with strong growth being seen in the company's UK Rail division. UK Rail like-for-like (LFL) passenger revenues are expected to rise by 8.1% in the six months to September 30th. On August 1
Read moreLondon pre-open: Slight declines expected on FTSE
29th Aug 2012 07:34
City sources predict the FTSE 100 will open down six points from yesterday's close of 5,776, as hopes of further stimulus action from central banks offsets worries over global growth. Tuesday proved to be a subdued first day back after the bank holiday weekend, as investors await market direction.
Read moreFirstGroup casts Virgin as sore loser
29th Aug 2012 07:09
FirstGroup has accused Virgin Rail Group of being a sore loser over the West Coast rail franchise, which the Department for Transport (DfT) has awarded to FirstGroup, noting that Virgin's legal challenge to the selection process came only after Virgin had lost out in its bid to retain the franchise.
Read moreVirgin Rail begins review proceedings over rail contract
28th Aug 2012 15:28
Virgin Rail Group, the joint venture of transport company Stagecoach and Richard Branson's investment vehicle Virgin Group, has begun court proceedings seeking a review of the decision by the Department for Transport to award the new InterCity West Coast rail franchise to a subsidiary of FirstGroup.
Read moreMonday broker round-up -UPDATE
20th Aug 2012 08:17
AstraZeneca: JPMorgan Cazenove downgrades to underweight, target lifted from 2,800p to 2,970p. Balfour Beatty: JPMorgan Cazenove downgrades to neutral. Barclays: Citigroup reiterates buy and 330p target price. ENRC: Credit Suisse downgrades to neutral, target cut from 500p to 450p. FirstGroup: J
Read moreFriday broker round-up
17th Aug 2012 09:22
Afren: Goldman Sachs downgrades to neutral. Borders & Southern Petroleum: Goldman Sachs downgrades to neutral. Coastal Energy: Goldman Sachs upgrades to buy. CRH: Credit Suisse downgrades to underperform. ENRC: Nomura cuts target from 500p to 400p, reduce rating kept. Faroe Petroleum: Goldman S
Read moreLondon close: Footsie down on mining weakness
15th Aug 2012 16:54
- MPC hints at further QE - UK jobless rate improves in July - ENRC leads miners lower Stocks held on to early losses on Wednesday afternoon, meaning that the FTSE 100 was trading within a narrow range for most of today's session with heavy falls in the mining sector keeping the index firmly in the
Read moreBranson attacks government 'insanity' over rail contract - UPDATE
15th Aug 2012 15:44
It's not been a great few days for Sir Richard Branson after his Virgin Trains business lost its prestigious West Coast rail contract to rival firm FirstGroup, prompting the business magnate to attack the government's 'insanity'. The billionaire described Virgin's bid as strong and deliverable, ad
Read moreFTSE 250 movers: FirstGroup falls despite contract win
15th Aug 2012 14:28
Transport firm FirstGroup was a heavy faller despite winning the West Coast franchise, awarded by the Department for Transport. The contract runs from December 2012 to 2026 and has annual revenues of around £900m for FirstGroup. Panmure Gordon said this morning that while this is a "significant fr
Read moreLondon midday: Footsie stays lower despite jobless data
15th Aug 2012 11:38
- MPC in wait-and-see mode - UK jobless rates falls more than expected - StanChart, Resolution lead the risers UK equities were stuck in the red by Wednesday lunchtime as minutes from the latest rate-setting meeting at the Bank of England dampened expectations that the Monetary Policy Committee (MP
Read moreBroker snap: West Coast win already priced in at FirstGroup
15th Aug 2012 10:57
Panmure Gordon has upped its target price for FirstGroup after the West Coast win for the transport group but has maintained its 'hold' recommendation for the stock. The West Coast franchise, awarded by the Department for Transport, runs from December 2012 to 2026 and has annual revenues of around
Read moreWednesday broker round-up
15th Aug 2012 09:47
AB Foods: UBS raises target from 1,330p to 1,400p, buy rating unchanged. AVEVA: Jefferies ups target from 1,800p to 2,300p, buy recommendation maintained. Balfour Beatty: Investec maintains sell rating and 210p target. CLS Holdings: Peel Hunt ups target from 639p to 720p, hold rating kept. CRH:
Read moreFirstGroup beats Stagecoach in West Coast franchise battle
15th Aug 2012 07:15
The share price of transport provider FirstGroup has risen by almost a third over the last month, suggesting it was favourite to win the lucrative InterCity West Coast rail contract, and so it has proved. FirstGroup will take over the contract from December 9th of this year and operate the service
Read moreTuesday tips round-up: Mitie, FirstGroup, Eckoh
14th Aug 2012 07:02
After 25 consecutive years of growth outsourcing firm Mitie is highly valued but some in the City are wondering if the price has got ahead of itself, notes Tempus in The Times. Monday's trading statement indicates that all remains well. Mitie concedes that the world is in a difficult place, but rep
Read moreMonday broker round-up
13th Aug 2012 08:16
AMEC: HSBC cuts target from 1,280p to 1,275p, overweight rating kept. Aviva: Exane BNP Paribas downgrades to neutral. British American Tobacco: Nomura keeps buy rating and 3,390p target. British Land: JPMorgan Cazenove ups target from 560p to 610p, overweight rating kept. BSkyB: Nomura maintains
Read more