Numis upgrades Serco after "encouraging" first half
2nd Jul 2015 09:21
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
Read moreLondon open: Stocks open flat on uncertainty ahead of Greek referendum
2nd Jul 2015 09:11
UK stocks opened broadly flat on Thursday morning as fading optimism about a Greek debt deal and an upcoming US jobs report gave investors reasons to be cautious. The FTSE 100 was down 0.07% at 6,603.96 early on. After showing signs of conceding ground on Wednesday and offering to meet most of the
Read moreLondon close: Stocks rebound as investors digest Greek rumours
1st Jul 2015 16:19
UK stocks bounced strongly on Wednesday after hitting a new five-month low the previous day as investors continued to digest the latest news flow from Greece, after Athens became the first developed economy to default on a debt repayment to the IMF. The FTSE 100, which settled at its lowest since 12
Read moreFTSE 250 movers: Serco gains as profit beats expectations, Premier Oil slips on weak oil prices
1st Jul 2015 13:06
Mid-caps gained on Wednesday, championed by strong performances in the construction, telecommunications and property sectors. As of 15:00 BST, the FTSE 250 was trading 1.2% higher at 17,740. Outsourcer Serco topped the risers, after first-half profits came in better than expected, although manageme
Read moreLondon midday: Stocks surge on Greek deal hopes, but uncertainties remain
1st Jul 2015 12:07
Decent gains in the banking and travel sectors gave UK stocks a boost on Wednesday as sentiment was buoyed by hopes of a possible bailout deal in Greece. According to reports, Greek Prime Minister Alexis Tsipras will accept all his creditors' bailout conditions that were on the table last weekend, w
Read moreLondon open: FTSE rebounds after sell-off as Greece defaults
1st Jul 2015 08:25
UK stock markets advanced on Wednesday morning, bouncing back after a Greece-inspired sell-off pushed the FTSE 100 to a new five-month low the previous session. As expected, Greece defaulted on its €1.6bn repayment to the IMF on Tuesday night, with the institution officially declaring that Athens wa
Read moreLondon pre-open: Stocks to bounce despite Greek default on IMF loan
1st Jul 2015 07:47
UK stocks are expected to bounce off a five-month low on Wednesday despite Greece becoming the first developed economy to default on a repayment to the IMF. City sources predict the FTSE 100 will open 42 points higher than Tuesday's close of 6,520.98, its lowest finish since 12 January. The IMF on
Read moreSerco interim numbers on target but lack of progress on BPO unit sale
1st Jul 2015 07:11
Profits in the first half of the year at Serco were flat compared to the same period last year but "a little better" than predicted, though management have not altered their expectations for the full year. After a very difficult 2014, the FTSE 250-listed outsourcing company is focusing on rationalis
Read moreSunday newspaper round-up: Government supplier clampdown, UK banks' Fifa fears, Lloyds sale
31st May 2015 15:58
Companies that supply services to the government are going to feel the screw tightened on them as the Cabinet Office clamps down, the Sunday Times said. The office has begun to demand its biggest contractors, which include BAE Systems, Babcock, Serco and G4S, to report on revenue and profit margins
Read moreFriday tips round-up: IAG, Serco
29th May 2015 16:53
IAG saw profits nearly double last year and they are expected to rise sharply again in 2015, but the company may face a raft of headwinds over the coming year. For starters, the acquisition of Aer Lingus has yet to close. Even if it does, regulators might still ask IAG to divest slots at Heathrow. I
Read moreSerco completes sale of Great Southern Rail
29th May 2015 07:57
Outsourcing group Serco has completed the sale of "luxury" long-distance rail service Great Southern Rail for £2.5m to Australian private equity firm Allegro. The FTSE 250 group, which issued two profit warnings in 2014, had originally announced the deal on 30 March, citing the need to narrow its fo
Read moreFTSE 250 movers: Paypoint surges on strong profits, Synergy Health hit by waning takeover speculation
28th May 2015 13:10
UK stocks were subdued on Thursday, following weak economic data and continued investor uncertainty on Greek developments. Sector-wise, strong performances from technology and retail was outweighed by weakness in telecommunications and mining. As of 15:00 BST, the FTSE 250 was trading 0.012% lower a
Read moreSerco appoints Roy Gardner as new non-executive chairman
28th May 2015 08:03
International service provider Serco said on Thursday that it has named Sir Roy Gardner as its new non-executive chairman. Gardner, who is the former chairman of Compass Group, will join the board on 1 June and take over from current chairman Alastair Lyons on 1 July. Chief executive officer Rupert
Read moreSerco in talks to sell Indian division
19th May 2015 12:39
Struggling outsourcing group Serco is on the verge of completing the sale of its Indian unit to CVC Capital Partners for approximately £250m. According to Sky News, advisers to the FTSE 250 group have begun negotiations to sell Intelenet, an India-based process outsourcing operation to Philippine se
Read moreFTSE 250 movers: Miners lower, WH Smith continues higher on franchise partner offers
17th Apr 2015 13:33
Mining stocks were trading lower, a result of widespread fluctuation in metal prices and Credit Suisse revealing that industrial metals performed poorly in March. Evraz, Vedanta Resources and Petra Diamonds were all in the red. Serco Group dipped as Fitch Ratings warned that the general election wou
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