Friday broker round-up UPDATE
20th Dec 2013 09:12
African Barrick Gold: Canaccord Genuity takes target price from 125p to 195p upgrading from hold to buy. Ashmore Group: UBS raises target price from 390p to 430p upgrading from neutral to buy. BAE Systems: JP Morgan cuts target price from 380p to 355p and maintains its underweight rating. UBS lowe
Read moreLondon close: Stocks surge to two-and-a-half-week high after Fed taper
19th Dec 2013 16:31
- FTSE 100 at highest since December 2nd after Fed taper - Fed scales back stimulus, gives guidance on rates - Carnival jumps late on after FY results - Pharmaceutical and life insurance stocks rise techMARK 2,735.02 +1.40% FTSE 100 6,584.70 +1.43% FTSE 250 15,589.95 +1.45% UK stocks surged to a t
Read moreFTSE 250 movers: Serco rallies on UK government deal
19th Dec 2013 14:43
Serco gained after the support services group reached a 68.5m-pound deal with the UK government over its troubled electronic tagging contract. Serco, which has faced a probe into allegations of over-charging for tagging criminals, has agreed a full and final settlement with the Ministry of Justice
Read moreG4S referred to Serious Fraud Office again
19th Dec 2013 13:39
The government has again referred security group G4S to the Serious Fraud Office after a review of outsourcing contracts due to suspected over-charging. As well as several issues identified in a cross-government report into contracts between G4S and rival Serco, a Ministry of Justice audit of G4S c
Read moreSerco reaches 68.5m pounds deal with UK over tagging
19th Dec 2013 13:30
Support services group Serco has reached a 68.5m pounds deal with the UK government over its troubled electronic tagging contract, lifting its shares. Serco, which has faced a probe into allegations of over-charging for tagging criminals, has agreed a full and final settlement with the Ministry of
Read moreBroker tips: GlaxoSmithKline, Serco, Britvic
19th Dec 2013 12:23
Jefferies has maintained its 'hold' rating for GlaxoSmithKline (GSK) after Denmark approved the sale of a generic copy of its top-selling inhaled lung drug, Advair. "Sandoz/Vectura's EU branded generic of Advair/Seretide was anticipated, though the timing was uncertain. Confirmation of its approval
Read moreLondon midday: Markets jump one per cent after Fed taper
19th Dec 2013 12:01
- Fed tapers monthly asset purchases by 10bn dollars - Markets rise, Wall Street hits record high - Annual growth of UK retail sales misses estimates techMARK 2,732.70 +1.31% FTSE 100 6,556.63 +0.99% FTSE 250 15,576.80 +1.37% UK markets had held on to their gains by Thursday lunchtime as investors
Read moreBroker snap: Panmure Gordon sees upside at Serco
19th Dec 2013 11:43
Panmure Gordon has kept a 'buy' rating for troubled outsourcing outfit Serco despite a disappointing trading update on Thursday, saying consensus estimates for this year are unlikely to change. Serco, which is facing a probe into allegations of overcharging for tagging criminals, said it expected f
Read moreLondon open: Fed taper sparks 'Santa Rally' as stocks jump
19th Dec 2013 08:17
- Fed cuts monthly bond buying to 75bn dollars - Commits to near-zero rates, depending on inflation - Pharma peers AstraZeneca, GSK making gains techMARK 2,727.60 +1.12% FTSE 100 6,553.38 +0.94% FTSE 250 15,550.52 +1.20% UK markets opened around one per cent higher on Thursday morning in the after
Read moreLondon pre-open: Strong start expected after Fed taper
19th Dec 2013 07:40
UK markets are expected to jump on Thursday morning as investors react to the Federal Reserve's move to scale back quantitative easing, ending months of uncertainty for financial markets worldwide. City sources predict the FTSE 100 will open up 52 points from yesterday's close of 6,492.08. Both th
Read moreThursday preview: Troubled Serco and Carnival report
18th Dec 2013 15:49
Serco is expected to deliver a "cautious" pre-close trading statement on Thursday following a lack of new contract wins in the second half due to tight government spending, according to Numis. The broker slapped a 'hold' rating on the outsourcing group on Wednesday, saying the British government se
Read moreSerco Group terminates loss-making contracts
13th Dec 2013 07:47
International service company Serco Group said it will end two loss-making contracts following a review of its clinical health operations. The contacts, together with a third loss-making contract, will lead to a total non-cash exceptional charge of £17m. The group is ending its contract early with
Read moreCapita to take on G4S and Serco's prisoner tagging contracts
12th Dec 2013 13:45
Outsourcing group Capita is to take on the electronic prisoner tagging contracts from G4S and Serco on a temporary basis. The Ministry of Justice announced that Capita would take over the delivery of electronic monitoring from April 2014 as it continued discussions with preferred bidders for newer
Read moreThursday tips round-up: Royal Mail, United Utilities, Serco
28th Nov 2013 08:32
Reality checks are always useful. Despite what the bulls would have you believe Royal Mail's latest interim revenues were just two per cent higher and those in the main UK parcel and letter delivery business up by only one per cent. As well, the at first glance attractive nine per cent increase in p
Read moreLondon pre-open: Cautious gains expected on FTSE ahead of data
27th Nov 2013 07:29
City sources predict the FTSE 100 will open around six points higher than yesterday's close of 6,636.22, balancing expectations for a data-heavy session. This follows a cautious approach seen over in the US last night ahead of the end of a shortened week on Wall Street with markets celebrating the T
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