Serco agrees amendments for Australian contract
9th Nov 2015 08:25
(ShareCast News) - Outsourcing firm Serco Group and the Australian government have reached a deal to amend the terms of a loss-making deal for Armidale Class Patrol Boats. The amendments mean the deal will now end in 2017, five years earlier than originally scheduled, after the group booked a £136m
Read moreFTSE 250 movers: Serco and Petra lift mid-caps
2nd Nov 2015 14:50
(ShareCast News) - Recovering from an initial lurch lower, the FTSE 250 index scrambled higher over the course of Monday's session, helped by optimism in some mining investors. Serco was top riser among London's mid-caps, however, as the outsourcing group was boosted by RBC Capital Markets upgrading
Read moreSerco rallies on RBC upgrade
2nd Nov 2015 12:01
(ShareCast News) - Shares in outsourcing group Serco got a boost after RBC Capital Markets upgraded the stock to 'sector perform' from 'underperform', keeping the price target at 9,500p. "Whilst risks clearly remain and the recovery will take time, for the first time in a while we see more limited d
Read moreLondon close: Stocks up as US inflation exceeds forecasts
15th Oct 2015 16:15
(ShareCast News) - The UK equity market was in positive territory on Thursday after US inflation data beat forecasts. The US consumer price index for September came in flat from a year ago, better than the 0.1% dip forecast by analysts and following a 0.2% increase in August. Compared to a month ag
Read moreFTSE 250 movers: Renishaw bounces back, Serco sapped by HSBC downgrade
15th Oct 2015 14:51
(ShareCast News) - The FTSE 250 rose steadily on Thursday, in parallel with most equity indices worldwide. By mid afternoon the UK's mid-cap index was up 0.63% at 16,671.7 points. Leading the pack was metrology and engineering company Renishaw, despite having posted a drop in sales and profit for th
Read moreThursday broker round-up
15th Oct 2015 10:40
(ShareCast News) - Serco Group: HSBC downgrades to reduce, cuts target price to 77.00p. Burberry Group: Bank of America downgrades to neutral. Target price: 1500.00p. Nomura reiterates to buy, cuts target price to 1700.00p. WH Smith: Peel Hunt Limited downgrades to add, raises target price to 1680.
Read moreFTSE 250 movers: Ocado surges on back of positive broker notes
17th Sep 2015 14:19
(ShareCast News) - The FTSE 250 index was down 20.12 points, or 0.12%, to 17,041.85 mid-trading Thursday afternoon. Leading the risers was online grocery delivery company Ocado Group, which surged today on the back of positive notes from Morgan Stanley and Deutsche Bank. Vehicle hire group North
Read moreSerco rallies on Exane and Berenberg upgrade
17th Sep 2015 10:41
(ShareCast News) - Outsourcing group Serco got a lift from a double upgrade, as Exane BNP Paribas and Berenberg turned more positive on the stock. Berenberg upgraded the stock to 'hold' from 'sell', keeping the price target at 100p, following a 30% drop in the share price in the past six months and
Read moreLondon open: Stocks climb ahead of UK jobs data
16th Sep 2015 08:30
(ShareCast News) - London stocks climbed on Wednesday before the release of the UK labour market report and the Bank of England's testimony before the Treasury Select Committee. The UK jobs report at 0930 BST is expected to show the employment change for the three months to July grew by 18,000 jobs,
Read moreSerco sells BPO division to Blackstone for £250m
16th Sep 2015 07:45
(ShareCast News) - Serco has agreed the sale of its offshore private sector Business Process Outsourcing operations to private equity funds managed by Blackstone for around £250m. The outsourcing group said the gross consideration comprises £220m in cash and a £30m loan note. Serco said proceeds fr
Read moreSunday newspaper round-up: RBS spin-off, Trinity Mirror acquisition, PR Newswire sale
13th Sep 2015 16:38
(ShareCast News) - Royal Bank of Scotland will begin marketing the initial public offer of its Williams & Glyn spin-off later this year ahead of a flotation expected in the second half of 2016. The Sunday Telegraph reported that, with Bank of America Merrill Lynch advising the lender on the process,
Read moreSerco rallies on Jefferies upgrade
8th Sep 2015 09:41
(ShareCast News) - Security and outsourcing company Serco got a boost after Jefferies upgraded the stock to 'buy' from 'hold' and lifted its price target to 157p from 145p. "Let's be clear upfront: Serco is an above average risk investment. However, the shares materially underperformed in a rising e
Read moreLondon close: UK stocks end in the red after China cuts renminbi
11th Aug 2015 16:15
(ShareCast News) - UK stocks ended Tuesday's session in the red after China's central bank devalued its currency, adding to concerns about the slowdown in the world's second largest economy. Overnight, the People's Bank of China cut the renminbi's daily fixed rate to the dollar by 1.9% to 6,228, the
Read moreBroker tips: Card Factory, Direct Line, Serco
11th Aug 2015 14:03
(ShareCast News) - Broker Peel Hunt reiterated its 'buy' recommendation for Card Factory, saying the retailer was one of its top picks for the sector, especially as it was "all systems go" for the upcoming special dividend. First-half results from the FTSE 250 group indicated a 1% acceleration in th
Read moreMerrill maintains 'neutral' stance on Serco; RBC Capital Markets says 2016 key year
11th Aug 2015 12:17
(ShareCast News) - Bank of America Merrill Lynch has maintained its 'neutral' rating on troubled outsourcing group Serco after the group posted a first-half pre-tax loss of £76.2m. The broker warned that although the group's Compass asylum detention centre operation benefited from lower UK
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