London 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
Read moreSerco 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 more