London midday: Stocks hold slightly lower as Quindell craters
17th Nov 2014 12:20
UK stocks were still registering small losses come midday, weighed down by negative references out overnight from Asia, despite which miners were holding at the top of the leader board. As of 13:14 the Footsie was lower by 13 points to 6,640. Japan´s GDP contracted at a 1.6% annualised rate in the
Read moreLondon open: Weak Asian data weighs on Footsie
17th Nov 2014 08:47
UK stocks began the day slightly lower, weighed down by negative references out overnight from Asia, despite which miners were registering the largest gains early on. Japan´s GDP contracted at a 1.6% annualised rate in the third quarter, a far weaker outcome than the 2.2% rate of expansion which ana
Read moreMitie takes a hit from asset management ops
17th Nov 2014 08:06
Mitie's shares took a knock after the support service group unveiled exceptional charges of £45.7m in its asset management business and plans to exit its mechanical and electrical engineering construction operation. The stock dropped 14.3p or 4.90% to 276.9p at 09:15 in London after the company asse
Read moreThursday broker round-up.-Update
13th Nov 2014 10:21
AstraZeneca: JP Morgan raises target price from 3700p to 4100p, keeping its underweight rating. AVEVA Group: Barclays upgrades to overweight. Bellway: Credit Suisse raises target price from 1876p to 1905p and keeps a neutral rating. Bow Leven: Barclays shifts target price from 45p to 50p and retai
Read moreMitie acquires Procius for £2.3m
16th Oct 2014 09:40
Outsourcing firm Mitie Group has completed the acquisition of pre-employment screening company Procius Limited for £2.3m. Mitie said the purchase will provide the group's security management business with additional niche capability and support its business growth. "I am delighted to welcome the Pr
Read moreTuesday tips round-up: Mitie, Shell
12th Aug 2014 08:48
Management Incentive Through Investment Equity may prove to be the proverbial 'mouse that roared', writes The Times' Tempus. Yes, Mitie. Once criticised for its relative lack of exposure to central government contracts the outsourcing specialist has been quietly restructuring itself towards higher-m
Read moreLondon pre-open: Strong performance in Asia to lift blue chips
11th Aug 2014 07:50
London's blue chips are heading for a positive start to the week following an upbeat performance by Asian stocks overnight. City sources predict the FTSE 100 will open around 40 points higher than Friday's close of 6,567.36. The gains have been driven by an in line consumer price index (CPI) from
Read moreMitie makes "positive start" to year with new contracts
11th Aug 2014 07:37
- 90% of budgeted revenues for full year secured - Full year to be H2 weighted - "Good full-year organic revenue growth" expected Support services group Mitie hailed a "positive start" to the new financial year, with good organic revenue growth helped by new and expanded contracts. "We have a subs
Read moreMitie awarded seven-year NHS contract
13th Jun 2014 12:51
FTSE 250-listed outsourcing group Mitie has landed a contract with Royal Cornwall Hospitals NHS Trust (RCHT) to deliver soft facilities management services over a seven-year period. Under the contract, which has a total value of more than £90m and a possible three-year extension, the group will pro
Read moreThursday broker round-up UPDATE
5th Jun 2014 09:37
Aberdeen Asset Management: Liberum Capital initiates with a target price of 555p and a buy recommendation. Ashmore Group: Liberum Capital starts with a target price of 303p and a sell recommendation. ASOS: N+1 Singer places both its target price (prev.: 4100p) and its hold recommendation under rev
Read moreMitie extends partnership with Vodafone
4th Jun 2014 10:37
FTSE 250 outsourcing company Mitie has extended its links with the UK arm of communications giant Vodafone with a five-year property services deal. Under the contract worth more than £250m, Mitie will provide services across Vodafone's 1,500 UK sites, including shops, mobile telephone exchange si
Read moreTuesday broker round-up UPDATE
20th May 2014 07:58
Alent: UBS lowers target price from 360p to 355p and keeps a buy recommendation. APR Energy: Investec reduces target price from 1150p to 880p and stays with its hold recommendation. ARM Holdings: Goldman Sachs reduces target price from 1450p to 1400p and stays with its buy recommendation. AVEVA H
Read moreFTSE 250 movers: Rate cut sends SuperGroup sliding
19th May 2014 14:44
A recommendation cut from Oriel Securities knocked more than 5% off of SuperGroup's share price. The broker changed its recommendation to 'reduce' from 'hold', saying "we are starting to ask ourselves whether there is something more fundamental afoot" with the decline in its like-for-like sales, whi
Read moreMITIE winds down engineering business and posts higher FY profits
19th May 2014 07:46
Support services company MITIE Group said it was winding down a loss-making business as it reported higher annual profit and revenue. MITIE, which serves organisations including Network Rail, pub group Mitchells & Butlers, the British government and local councils, said it was near to closing its m
Read moreMitie renews National Rail contract following strong group performance
20th Mar 2014 08:00
Mitie, the FTSE 250 strategic outsourcing company, has been awarded a renewed contract with a base value of more than 75m pounds over a five-year period to provide integrated facilities management for Network Rail. The news came as the group gave an update on its recent performance, which it said
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