Thursday 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 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
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