Serco sells off transport maintenance and technology units
27th Nov 2013 07:09
FTSE 250 outsourcing company Serco has completed the sale of its London streets maintenance and UK transport technology business to Cubic Corporation. The disposal, for £43.5m, is in line with the group's "proactive portfolio management involving an ongoing assessment of operations against their fi
Read moreLondon close: FTSE closes slightly lower after data-heavy week
22nd Nov 2013 16:48
- FTSE down seven points, 19 on the week - German GDP in-line - Former Co-op Bank Chairman arrested - TUI sinks on share sale - AstraZeneca rises on recommendation from EMA techMARK 2,642.04 +0.25% FTSE 100 6,674.30 -0.11% FTSE 250 15,187.68 +0.26% The final session of the week saw the FTSE end se
Read moreSerco's Stafford quits as government does u-turn on prison contract
22nd Nov 2013 12:41
Scandal-hit services company Serco Group saw its share price rise on Friday after it was announced its head of UK and Europe, Jeremy Stafford, was to quit. The group is attempting to re-build its damaged relationship with the UK government after a recent embarrassing debacle involving electronic t
Read moreBroker tips: Antofagasta, Sainsbury, Serco
22nd Nov 2013 12:20
Copper miner Antofagasta faces higher treatment and refining charges (TC/RCs) for 2014, and cost increases. Yes, the balance sheet is strong, but the company will have to invest heavily for several years. As well, softening earnings will limit the scope for special dividends, explain analysts at In
Read moreBroker snap: Near-term challenges baked into price at Serco
22nd Nov 2013 11:26
Analysts at Credit Suisse today moved to raise their recommendation on shares of Serco to outperform from neutral on the back of the "apparently improving political and press sentiment over recent days" and the 17 per cent fall in its share price in the year-to-date. In their opinion the decline i
Read moreLondon open: FTSE lifted by US data, German GDP in-line
22nd Nov 2013 08:20
- US jobless claims provide boost - German GDP in-line - Co-op Bank's former Chairman arrested techMARK 2,650.47 +0.57% FTSE 100 6,703.20 +0.33% FTSE 250 15,190.43 +0.28% Stocks were off to a generally good start this morning, buoyed by yesterday's US weekly jobless claims report, which revealed
Read moreFriday broker round-up UPDATE
22nd Nov 2013 08:04
African Barrick Gold: Westhouse Securities upgrades to neutral with a target price of 170p. Antofagasta: Investec cuts target price from 737p to 716p and keeps a sell recommendation. Bank of Georgia: Numis raises target price from 2101p to 2662p and maintains a buy recommendation. Canaccord Genuit
Read moreFriday newspaper round-up: WTO, Serco, National Grid
22nd Nov 2013 07:24
Negotiators are poised to seal the first global trade deal for more than a decade, in a rare victory for the World Trade Organisation, whose struggle to secure an international pact has increasingly threatened its relevance. The US and powerful developing-nation players, including China and India, h
Read moreBroker tips: Centrica, Serco, Ultra Electronics
15th Nov 2013 11:31
Credit Suisse has cut its target price and reiterated its 'underperform' rating for British Gas owner Centrica, saying there are 'no major positives in sight' after the group's reduction in full-year forecasts. The bank said: "For us, the biggest concern is that 2014 organic growth has dropped to a
Read moreBroker snap: Jefferies still positive on Serco despite profit warning
15th Nov 2013 10:51
Jefferies has lowered its price target for government services group Serco after the firm's profit warning this week, but maintained its 'buy' rating saying that the subsequent share-price drop was an 'overreaction'. Serco said on Thursday that it had experienced some delays in previously anticipat
Read moreFriday broker round-up UPDATE
15th Nov 2013 07:38
Amlin: Berenberg raises target price from 398p to 434p, but still recommends selling. Barclays cuts target price from 481p to 453p and retains an overweight rating. Antofagasta: Numis raises target price from 750p to 850p and reiterates a hold recommendation. AstraZeneca: Liberum Capital upgrades
Read moreLondon close: Fed's Yellen sparks gains on hopes of continued stimulus
14th Nov 2013 16:28
- Yellen comments in focus as taper speculation picks up - Corporate earnings come in mixed - Economic data weakens in UK, Eurozone techMARK 2,649.23 +0.90% FTSE 100 6,666.13 +0.54% FTSE 250 15,257.93 +0.51% Markets were able to shrug off some disappointing economic data on Thursday as hopes over
Read moreFTSE 250 movers: Ophir Energy jumps after disposal, Serco drops
14th Nov 2013 15:35
Africa-focused oil explorer Ophir Energy saw its share price surge on Thursday after the company announced that it is selling its 20 per cent interest in Tanzanian Blocks 1, 3 and 4 to Pavilion Energy for 1.28bn dollars. Heading the other way was Serco which tumbled as the service company warned p
Read moreSerco warns on profits after UK public sector delays - UPDATE
14th Nov 2013 09:47
- FY profits guidance lowered to flat YoY - Currency effect another 1-2 per cent - FY 2014 also expected to be lower Serco Group's shares tumbled as the service company warned profits would be hit by contract delays with the UK government and currency movements. Issues with the company's contracts
Read moreThursday broker round-up UPDATE
14th Nov 2013 09:21
Afren: Goldman Sachs moves target price from 260p to 270p and retains its strong buy recommendation. APR Energy: Citi raises target price from 1250p to 1350p reiterating a buy recommendation. Atkins: Investec places both its target price (prev.: 1025p) and its reduce rating under review. Babcock
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