Thursday broker round-up
28th May 2015 09:44
Direct Line: JP Morgan upgrades to overweight. Admiral: JP Morgan reiterates underweight. TUI: JP Morgan stays at overweight with 1,275p target. RSA: JP Morgan ups target to 451p from 433p, keeps at neutral. SAGA: JP Morgan raises target to 207p from 185p but remains at neutral. De La Rue: JP MOrg
Read moreFTSE 250 movers: Aveva surges on acquisition rumours, Inmarsat hit by delays
18th May 2015 12:35
UK stocks erased early gains as Greek concerns and a lack of economic data stoked investor uncertainty. Sector-wise, retailers and insurers delivered the biggest drag, while energy, mining and tech stocks provided a welcome boost. As of 2:00, the FTSE 250 was trading flat, just 9 points lower at 18,
Read moreMitie reports broadly flat pre-tax annual profit on back of restructuring
18th May 2015 08:09
Mitie reported a 0.7% increase in annual pre-tax profit to £114.1m as the British outsourcing and energy services company underwent a major restructuring. The group sold off its mechanical and electrical engineering construction and asset management businesses to focus on its more profitable facilit
Read moreFTSE 250 movers: Mitie hit by minimum wage dispute, Enterprise Inns higher on expansion plans
13th May 2015 13:16
UK stocks rebounded on Wednesday, driven by the Bank of England pushing back rate-hike predictions and a dip in unemployment. Sector-wise, property, energy and engineering stocks extended gains, while travel and utilities dipped. As of 03:30, the FTSE 250 was trading 193 points, or 1.09% higher at 1
Read moreMitie to face HMRC talks over minimum wage allegations
13th May 2015 12:51
Outsourcing services group Mitie has been called up by the HMRC to answer allegations the company has not been paying care worker staff the UK minimum wage in England and Wales. A number of employees of Mitie's MiHomecare business, one of the country's largest providers of home care, had told Corpor
Read moreLondon close: FTSE plunges 1.7% as investors take profits ahead of quarter-end
31st Mar 2015 16:31
Sharp falls from mining and tobacco stocks sent the FTSE 100 to its lowest close in two and a half weeks on Tuesday as investors used some weak economic data as an excuse to rebalance their books before the quarter-end. After briefly trading in the green early on, the Footsie finished had plunged 1.
Read moreFTSE 250 movers: Mitie dips on profit warning, Serco higher on railway sale
31st Mar 2015 13:22
Outsourcing services group Mitie fell after warning that it expects full-year profits to be pushed slightly lower than forecast by margin pressures in the homecare and social housing businesses. Petrofac was in the red following a downgrade from Canaccord Genuity who dropped their rating from 'buy'
Read moreLondon midday: FTSE drops sharply to two-week low at quarter-end
31st Mar 2015 12:11
After a brief stint in positive territory, UK stocks dropped sharply into the red by Tuesday lunchtime as concerns about the Eurozone outweighed upbeat data closer to home. London's FTSE 100, which rose initially to a high of 6,910.07, had sunk over 1% to 6,819.82 by midday. The index has not closed
Read moreMitie warns on profits but optimism grows for de-risked future
31st Mar 2015 09:27
Although it had encouraging news about several sizeable contract wins, outsourcing services group Mitie has warned that it expects full year profits to be pushed slightly lower than forecast by margin pressures in the homecare and social housing businesses. In a broadly positive statement, Mitie, wh
Read moreSunday share tips: Mitie, UK Mail, Vodafone
18th Jan 2015 18:44
Mitie's shares have fallen but not as fast as those of outsourcing rivals such as Serco and Balfour Beatty, Danny Fortson pointed out in the Sunday Times. Matthew Earl, a former City analyst who writes a blog, criticised Mitie for buying companies to compensate for its own slow progress and for the
Read moreMitie extends facilities management deal with Lloyds Banking Group
2nd Dec 2014 07:47
Support services group Mitie has extended a five-year deal of undisclosed value with Lloyds Banking Group for another eight years. Mitie said the extended deal, which began in 2012 and will now stretch to the end of 2022, will allow it to continue to manage the bank's entire UK branch and office est
Read moreTuesday tips round-up: Reckitt Benckiser, MITIE Group
18th Nov 2014 16:59
Reckitt Benckiser has opted for the simplest of formulas to de-merge Reckitt Benckiser Pharmaceuticals, which is laudable. Investors will get one share in the new Indivior for each Reckitt Benckiser share previously held. Yet that does not necessarily mean that much value will be generated. The comp
Read moreTuesday broker round-up
18th Nov 2014 09:42
Aggreko: HSBC raises target price from 1550p to 1650p and maintains a neutral rating. Al Noor Hospitals: Citi initiates with a target price of 1240p and a buy recommendation. Barclays: Credit Suisse ups target price from 230p to 250p and keeps a neutral rating. Bodycote: JP Morgan cuts target pric
Read moreFTSE 250 movers: Keller Group fails to impress with interim statement
17th Nov 2014 15:55
Keller Group dropped sharply despite the group delivering a trading update in line with expectations for the period from 1 July to 16 November. However, investors were concerned by the difficult conditions in European markets and weakness in Australia. Mitie's shares took a knock after the support s
Read moreSell Mitie as costs mount up, says Peel Hunt
17th Nov 2014 12:56
Broker Peel Hunt is advising investors to sell shares in Mitie after the support services group announced more one-off costs. Mitie said on Monday that it booked exceptional charges of £45.7m after assessing remaining risk on the design and build contracts left in its asset management business. The
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