London close: Stocks jump on US data as Syria concerns recede
29th Aug 2013 17:03
Markets finished strongly on Thursday, rebounding after recent falls as concerns over an impending Western intervention in Syria eased slightly and US growth estimates were revised higher. One of London's largest constituents, Vodafone, was providing a lift on the FTSE 100 today on hopes that it ca
Read moreFTSE 100 movers: Vodafone, Melrose Industries, WPP
29th Aug 2013 14:08
Vodafone Group was the top riser on the FTSE 100 after confirming it was in talks with Verizon Communications to sell its stake in their Verizon Wireless venture. Melrose Industries surged after the engineering turnaround specialist revealed revenue more than doubled in the first half, boosted by i
Read moreBroker tips: Serco, Travis Perkins, Pearson
29th Aug 2013 11:42
Investec admits that Serco reported a decent set of interim results on Thursday, but chose to stay on the cautious side and maintained its 'sell' recommendation ahead of a tough second half for the outsourcing company. Analyst Gideon Adler said: "We continue to view Serco as a business well diversi
Read moreLondon midday: Stocks rise, Vodafone surges on Verizon talks
29th Aug 2013 11:41
The FTSE 100 was registering decent gains on Thursday morning as markets rebounded from recent falls, helped by M&A activity surrounding one of the index's largest constituents, Vodafone, as well as some well-received results from blue chips Melrose and WPP. Markets have been hit this week by conce
Read moreBroker snap: Serco rated 'sell' as Investec sees better value elsewhere
29th Aug 2013 11:21
Investec admits that Serco reported a decent set of interim results on Thursday, but chose to stay on the cautious side and maintained its 'sell' recommendation ahead of a tough second half for the outsourcing company. Shares in the FTSE 100 firm were down a whopping 13.35% at 525.55p by mid-mornin
Read moreLondon open: Stocks rebound after recent falls, Vodafone jumps
29th Aug 2013 08:36
Strong gains from Vodafone, WPP and Melrose gave markets in London a boost this morning, as stocks rebounded after some recent falls. Markets have been under pressure this week on concerns about a potential Western military intervention in Syria in response to last week's alleged chemical weapons a
Read moreRecord contract wins boost Serco revenue
29th Aug 2013 07:52
Serco Group reported a 'strong financial performance' for the first half of the year, but dampened spirits after the same day admitting to misreporting data on one of its contracts with the Ministry of Justice. The group posted a 10.5% rise in half year adjusted pre-tax profit to £127.1m (2012 H1:
Read moreThursday newspaper round-up: Vodafone, Brazil, Serco...
29th Aug 2013 07:47
The Telegraph writes that Verizon has resumed discussions about buying Vodafone's stake in their US joint venture for over 100bn dollars. The paper cites City analysts as saying that the deal could create an 'unrivalled war chest' for the UK telecoms group for making acquisitions, wiping off debt an
Read moreLondon pre-open: Small rebound expected early on
29th Aug 2013 07:26
UK markets are expected to open slightly higher on Thursday, following in the footsteps of a decent finish on Wall Street the night before following weakness earlier on in the week. Markets have been pressured lower in recent days on concerns about a potential Western military intervention in Syria
Read moreSerco Group discovers 'misreporting of data' - UPDATE
29th Aug 2013 07:03
Serco Group on Thursday confirmed that the UK Ministry of Justice (MoJ) has called police over the misreporting of data by 'a small number of employees' associated with Serco's Prisoner Escort and Custody Services (PECS) contract. Serco will be able to retain the contract if, after a period of thr
Read moreThursday tips round-up: Serco, Hikma Pharmaceuticals, Goals Soccer Centres
22nd Aug 2013 07:31
The future for outsourcing outfit Serco is now uncertain as the Government calls for a detailed review of all contracts and profit margins are expected to slide. However, its update on trading in the second quarter was good. With long-term government contracts comes steady cash flow, and Serco has b
Read moreSerco wins US health contract
5th Aug 2013 07:25
Services company Serco Group has scored a contract from the US Department of Health and Human Services Centers for Medicare & Medicaid Services (CMS) to provide processing support for new health benefit exchanges. Serco said it will deliver and manage labour to review, verify and process applicatio
Read moreLondon close: Stocks end slightly lower
26th Jul 2013 18:14
The Footsie ended the day slightly in the red following a weak start on Wall Street and with a similar pattern to yesterday´s emerging, with equities in core European countries such as the UK and Germany on the back foot while periphery equities tended to outperform. The top flight index finish
Read moreLondon midday: Banks, miners provide a lift after China data
15th Jul 2013 11:42
Cyclical stocks welcomed in-line gross domestic product (GDP) figures from China on Monday morning with the FTSE 100 nearly hitting seven-week highs early on. London's benchmark index started the new week trading near the 6,600 level; the last time the FTSE 100 closed higher was on May 30th. Gains
Read moreFTSE 100 movers: Aberdeen, Resolution lead financials higher
12th Jul 2013 14:08
Financial stocks were performing well on Friday with asset manager Aberdeen and insurance group Resolution leading the way after positive comments from analysts. UBS reiterated its 'buy' rating for Aberdeen and added the stock to its 'most preferred' list, saying that the recent share price falls h
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