Wednesday broker round-up UPDATE
3rd Jul 2013 09:16
Aberdeen Asset Management: Bank of America reduces target price from 410p to 360p maintaining an underperform rating. ARM Holdings: UBS upgrades to buy from neutral, keeps target price at 970p. Cineworld: Investec ups target price from 347p to 360p and keeps a buy recommendation. N+1 Singer moves
Read moreLondon close: Stocks erase losses after late US-inspired rally
2nd Jul 2013 16:34
A strong start on Wall Street helped the FTSE 100 erase its earlier losses on Tuesday, though markets still ended flat ahead of some key 'risk events' expected later on in the week. After hitting an intraday low of 6,268 earlier on, London's benchmark index rallied strongly in afternoon trade to fi
Read moreSerco receives contract worth up to 1.25bn dollars with US Dept. of Health
2nd Jul 2013 15:11
Outsourcing specialist Serco Group has confirmed that it may potentially have been awarded a contract by the United States Department of Health and Human Services' Centers for Medicare and Medicaid Services. Under the terms of the same it would support the federally-facilitated marketplace and sta
Read moreFTSE 100 movers: Serco, Burberry, Antofagasta
2nd Jul 2013 13:44
Serco Group climbed the FTSE ladder following reports the British outsourcing company won a 1.25bn dollar contract with the US Department of Health. Under the 12-month agreement, Serco will handle applications for health plans, medicaid and other insurance programmes. The company may also be benefit
Read moreLondon midday: Markets pull back ahead of key risk events
2nd Jul 2013 11:32
The FTSE 100 was trading firmly lower on Tuesday morning with profit-taking evident after a strong performance over the past week, as investors gear up for central-bank meetings and key US data later in the week. London's benchmark index jumped 1.5% yesterday as it continued to rebound strongly af
Read moreFTSE 100 movers: Serco gains on growth forecast
28th Jun 2013 12:59
Public services outsourcing company Serco Group led the FTSE 100 race on Friday after saying it expects to report strong revenue growth in its full-year results. Schroders edged higher as the asset manager was upgraded by analysts at BNP Paribas to an 'outperform' rating in a research report on Fr
Read moreLondon midday: Markets rangebound after recent gains
28th Jun 2013 11:23
The FTSE 100 erased early gains by Friday lunchtime with markets rangebound on the last day of trading before the end of the second quarter, with traders pausing for breath after strong gains seen over the past three sessions. Since hitting a five-month low of 6,029 on Monday, the benchmark index h
Read moreBroker tips: Vodafone, Serco, SABMiller
28th Jun 2013 10:51
Deutsche Bank has upgraded its rating for Vodafone from 'hold' to 'buy', saying that a takeover of Kabel Deutschland (KDG) could push the British telecoms group towards potential value crystallisation. "We think a KDG deal, consistent with our convergent thesis, is likely the tipping point for a Ve
Read moreBroker snap: Investec cautious about second half at Serco
28th Jun 2013 10:16
Investec has maintained its 'sell' rating and 550p target price for outsourcing group Serco in spite of a well-received trading update on Friday, saying that it is concerned about trading going into the second half. The company announced a broadly in-line second-quarter update, with top-line outper
Read moreLondon open: Gains extended into fourth day
28th Jun 2013 08:38
The FTSE 100 looked set to deliver its fourth consecutive day of gains on Friday, as it begins the final day of trading in the second quarter in a positive fashion. Since hitting a five-month low of 6,029 on Monday, the benchmark index has rebounded strongly over the past few sessions, gaining nea
Read moreLondon pre-open: FTSE 100 expected to consolidate recent gains
28th Jun 2013 07:32
The FTSE 100 is expected to open flat to slightly higher on Friday morning as markets head into the final trading day of the second quarter. City sources predict the FTSE 100 will open up around six points from yesterday's close of 6,243. The index has delivered solid gains over the past three con
Read moreSerco reassures on profits as margins lower but sales higher - UPDATE
28th Jun 2013 07:01
Public services outsourcing group Serco has said that slightly lower profit margins and higher revenues will mean that full-year profits remain in line with expectations. The FTSE 100 company revealed that it is likely to report strong organic revenue growth ahead of expectations for the first half
Read moreSerco extends transport contracts in Hong Kong
7th Jun 2013 07:07
Public services outsourcing group Serco has won the contract to operate and maintain toll roads in Hong Kong as it looks to push further into the transport sector. Beginning in September, the contract is worth HK$960m (£79.3m) over a minimum six-year base period to manage, operate and maintain the
Read moreBroker tips: AstraZeneca, Serco, GKN
4th Jun 2013 11:03
Panmure Gordon has retained its 'hold' rating and 3,200p target price for biopharmaceuticals group AstraZeneca, saying that the news of the pull-out from fostamatinib should remind investors of the risks that the business carries. "Today's news of another phase III product opportunity slipping away
Read moreBroker snap: HSBC downgrades Serco, sees muted growth for outsourcers
4th Jun 2013 10:05
HSBC has retained its cautious view on UK public-sector outsourcers and has downgraded its rating for Serco from 'neutral' to 'underweight'. In a sector review, the broker said that the overall level of public-sector contract awards over the past six months has been "weak" and its analysis suggests
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