Friday 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
Read moreTuesday newspaper round-up: Cameron, Shadow banks, North Sea
12th Nov 2013 06:18
The government is to forge a "leaner, more efficient state" on a permanent basis, David Cameron has said, as he signalled he had no intention of resuming spending once the structural deficit has been eliminated, a clear change to claims made after the last general election. Cameron said that the gov
Read moreSunday newspaper round-up: Serco, Energy companies, Economic growth
10th Nov 2013 17:04
Serco will warn on November 14th that it will not meet forecasts for annual profits, the Sunday Times reported. The outsourcing company has been hit by Government allegations of fraud in contracts to tag prisoners. Investors had expected Serco to report annual profits of about £326m but analysts now
Read moreSerco boss Chris Hyman falls on sword after tagging scandal
25th Oct 2013 11:48
Serco said its Chief Executive Chris Hyman had resigned as it unveiled a restructure of the business and plans to beef up its board in a bid to rebuild its damaged relationship with the UK government. Hyman, who has stepped down with immediate effect, said it had become clear that the best way for
Read moreSerco wins five-year extension to Dubai Metro contract
24th Oct 2013 07:50
International services company Serco Group has signed a five-year extension to its contract with the Dubai Government Roads and Transport Authority (RTA) to continue to operate and maintain the Dubai Metro. The extension, which is valued at around £355m, also carries the opportunity to extend for a
Read moreLondon close: Stocks rally on hopes over 11th-hour deal in Washington
16th Oct 2013 16:24
Stocks swung sharply into positive territory on Wednesday afternoon with the FTSE 100 hitting a four-week high on that US leaders can come to a deal to raise the debt ceiling before tomorrow's deadline. Despite a weak start, the FTSE 100 finished up 22.48 points at 6,571.59, its highest level since
Read moreLondon midday: Stocks slip as optimism over US deal begins to fade
16th Oct 2013 11:45
London's FTSE 100 pulled back from a three-week high on Wednesday morning as a deal to avert a US default remained elusive with just one day to go before the government hits its borrowing limit. Matt Basi, Head of UK Sales Trading at CMC Markets, said that the proximity of the deadline was "giving
Read moreLondon open: US uncertainty pulls FTSE 100 back from three-week high
16th Oct 2013 08:44
UK markets opened lower on Wednesday morning, pulling back from a three-week high, as optimism over a deal in Washington to avert a default began to fade. The FTSE 100 in London was registering small losses early on after hitting 6,549 on Tuesday, its highest level since September 24th. Stocks on
Read moreWednesday broker round-up UPDATE
16th Oct 2013 08:26
Anite: Northland Capital reduces target price from 160p to 120p, while staying with its buy recommendation. Panmure Gordon cuts target price from 177p to 142p and keeps a buy recommendation. Jefferies takes target price from 160p to 110p, while leaving its buy recommendation unchanged. Canaccord Gen
Read moreSerco awarded position on 4.1bn dollar US Army contract
7th Oct 2013 14:54
Outsourcing group Serco has reportedly been awarded a position on the United States Army Communication´s 4.1bn dollar multiple award IDIQ contract. That follows a report in The Sunday Times that the company is the subject of a probe into its biggest Government contracts in the United Kingdom, incl
Read moreSunday newspaper round up: Serco, Tesco, consumer spending
6th Oct 2013 17:32
Serco is the subject of a probe into its biggest Government contracts, the Sunday Times reported. The deals include a 1.5bn pound contract to manage the Atomic Weapons Establishment, a 55m pound school inspections contract with Ofsted and services for the Child Maintenance Group. About a quarter of
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