FTSE 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
Read moreFTSE 250 movers: Auto Trader Group surges on broker intitiation, energy stocks lower
3rd Jul 2015 13:35
Mid-caps edged lower on Friday, with weakness in the oil, mining and telecommunications sectors providing a drag on the market. As of 15:15 BST, the FTSE 250 was trading 0.4% lower at 17,595. Auto Trader Group led the risers as Exane BNP Paribas initiated coverage with an 'outperform' rating, citing
Read moreFTSE 250 movers: Jimmy Choo boosted by Barclays coverage, Synthomer lower on disappointing profits
2nd Jul 2015 13:15
Mid-caps were trading slightly higher on Thursday, though weakness in the industrial metals, transport and technology provided a drag on gains. As of 16:00 BST, the FTSE 250 was trading 0.2% higher at 17,674. Jimmy Choo was trading higher after Barclays initiated coverage on the stock with an 'over
Read moreLondon midday: Stocks rise after UK construction data, but gains limited
2nd Jul 2015 12:10
The FTSE 100 edged higher on Thursday after a strong reading of UK construction activity, though gains were limited amid ongoing uncertainty in Greece and ahead of a closely-followed report on the US labour market. The UK construction sector bounced back in June, according to a higher-than-expected
Read moreBroker tips: Serco, Smiths Group, Jimmy Choo, AstraZeneca
2nd Jul 2015 11:22
Serco's stock was extending gains on Wednesday after a well-received first-half trading update the day before, with Numis Securities providing a further boost by upgrading its recommendation from 'reduce' to 'hold'. Numis said Serco revelations that first-half trading had been a little better than e
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