London midday: UK stocks extends gains as markets track Wall Street higher
19th Dec 2014 11:07
UK stocks extended their winning streak into the fourth day on Friday as a welcome, albeit late, Santa Rally kicked in following the recent sell-off. The FTSE 100 was trading 0.3% higher at 6,486 by noon and has now gained nearly 5% since Tuesday. "He left it late this year, but Santa finally provi
Read morePeel Hunt slashes Serco target, reiterates 'sell' due to expensive valuation
19th Dec 2014 10:06
Peel Hunt has slashed its target price for Serco by nearly half to take into account a proposed rights issue by the outsourcing group and kept a 'sell' rating on the stock. However, the broker said that the company's amendment of its financial covenants and a successful conclusion to the prisoner es
Read moreLondon open: FTSE rises for fourth day as late Santa Rally kicks in
19th Dec 2014 08:27
UK stocks rose for a fourth straight day on Friday following massive gains on Wall Street the night before, with the Dow Jones index registering its biggest one-day gain in three years. London's FTSE 100 was up 0.6% at 6,506 in early deals and has now risen by over 5% since Tuesday. Mike van Dulken
Read moreLondon pre-open: Stocks expected to surge after gains on Wall Street
19th Dec 2014 07:39
UK stocks were expected to rise strongly again on Friday after an impressive performance on Wall Street, with the Dow Jones index registering its biggest one-day gain in three years. City sources predict the FTSE 100 will open 70 points higher than Thursday's close of 6,466. The UK index has now ris
Read morePolice clear Serco of wrongdoing on prisoner escort contract
19th Dec 2014 07:34
Support services group Serco said on Friday that police and prosecutors would not be bringing charges against the company in relation to a probe into its UK government contract to move prisoners from custody to courts. Serco said the Crown Prosecution Service had accepted the City of London Police's
Read moreLondon midday: UK stocks rise, but gains only modest after sell-off
10th Dec 2014 12:12
Stimulus hopes in China gave UK stocks a small boost on Wednesday though sentiment was still fragile after a global equity rout sent London's stock market to a one-month low the previous session. The FTSE 100 was up just 0.1% at 6,539. The index dropped over 2% to settle at 6,529.47 on Tuesday, its
Read moreSerco renews five-year contract with Australian immigration authorities
10th Dec 2014 09:01
Outsourcing giant Serco has renewed a five-year contract with an Australian government agency to provide on-shore immigration detention services The contract, which takes immediate effect, has an approximate value of £1bn, according to the the country's Department of Immigration and Border Protectio
Read moreWednesday newspaper round-up: StanChart, G4S/Serco, Oil services firms
10th Dec 2014 07:00
According to The Guardian, Standard Chartered is under fresh scrutiny from US regulators. The bank's two-year deferred prosecution agreement imposed two years ago for US breaching sanctions towards Iran has been extended for three years. US authorities, who have already fined the bank over £400m, ar
Read moreSerco wins £70m home office contract
24th Nov 2014 15:16
The Home Office has awarded outsourcing group Serco a £70m contract to continue managing an immigration centre over the next eight years. The contract will commence 26 April 2015 and will offer an extension option for a further three years. Serco has operated the centre since December 2006. The Yar
Read moreTrifast execs make tidy sum through share option sale
21st Nov 2014 15:59
The chairman and boss of fastenings group Trifast have both raised £1.08m each after selling shares issued under the company's 2009 share option plan. Executive chairman Malcolm Diamond and chief executive Jim Barker, who have both been with the company for over three decades, were issued 1m shares
Read moreBroker tips: Easyjet, Serco, Oil stocks
21st Nov 2014 12:26
Broker Liberum has lifted its target price for budget airline Easyjet from 1,650p to 1,725p and repeated its 'buy' recommendation, hailing the company's effort to adapt to an "inflationary world". Analyst Gerald Khoo said while non-fuel unit cost inflation is set to rise, Easyjet's so-called 'lean'
Read moreCredit Suisse downgrades Serco to 'underperform', slashes target price
21st Nov 2014 11:16
Credit Suisse has lowered its rating for UK outsourcing group Serco from 'neutral' to 'underperform' and more than halved its target price for the stock, saying that the shares are "too expensive". The downgrade follows Serco's unscheduled strategic update and profit warning last week, as it propose
Read moreSerco's chairman Lyons steps down amid profit warning
17th Nov 2014 08:25
Serco's chairman Alastair Lyons has resigned from the troubled British outsourcing company. Lyons, who has been chairman since 2010, said while his colleagues asked him to stay it was his intention to step down once a new strategy and direction for the business were in place. "I am, therefore, taki
Read moreWednesday broker round-up UPDATE
12th Nov 2014 09:07
Aberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.
Read moreTuesday broker round-up UPDATE
11th Nov 2014 09:55
AdEPT Telecom: WH Ireland moves target price from 170p to 185p, keeping its buy recommendation. Northland moves target price from 165p to 175p and maintains a buy recommendation. Betfair: JP Morgan raises target price from 1175p to 1350p and upgrades from neutral to overweight. BHP Billiton: JP Mor
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