Serco hit by tough markets in first half
29th Aug 2012 07:04
Outsourcing group Serco was hit by tough markets and reorganising costs in the first half but said it expected a strong showing in the second. Revenue was up 4.3% to £2.3bn, with adjusted pre-tax profit down 17.4% to £102.1m. Organic revenue, which strips out acquisitions and currency effects, dro
Read moreWednesday preview: Antofagasta, Serco, 888, Paddy Power
28th Aug 2012 16:25
Chilean copper miner Antofagasta must have been thanking its lucky starts it operates in South America rather than South Africa, given the trials and tribulations the likes of sector peers Lonmin and Aquarius Platinum have been suffering lately. The group already updated the market at the beginning
Read moreBroker tips: StanChart, Serco, AstraZeneca
8th Aug 2012 12:46
Credit Suisse has retained its cautious stance on under-fire lender Standard Chartered on the back of its struggles with US regulators in regards to its alleged dealings with the Iranian government. StanChart trades at 1.3 times full-year tangible net asset value for a 14-15% return on tangible equ
Read moreBroker snap: UBS downgrades Serco to 'neutral'
8th Aug 2012 12:42
UBS has downgraded its rating for Serco from 'buy' to 'neutral' following a strong run in the shares of the international outsourcing group. The broker said that it remains upbeat about the UK/Europe and Global Services businesses but uncertainty in the US is likely to remain in the short term. "S
Read moreWednesday broker round-up
8th Aug 2012 09:57
AstraZeneca: Jefferies raises target from 2,975p to 3,100p, hold rating kept. Avon Rubber: Investec reiterates hold rating and 315p target. BTG: Jefferies maintains hold rating and 410p target. Cobham: Jefferies reiterates buy recommendation and 230p target; Investec keeps sell rating and 200p ta
Read moreMonday broker round-up
6th Aug 2012 08:26
AstraZeneca: UBS ups target from 3,500p to 3,600p, buy rating kept. Berkeley: Investec raises target from 1,500p to 1,560p, buy rating kept. Catlin: Nomura reiterates buy rating and 506p target. Centrica: Deutsche Bank downgrades to hold from buy, target cut from 365p to 320p. Falkland Oil and G
Read moreLondon close: Stocks surge despite US data
2nd Jul 2012 16:44
- Markets eye BoE and ECB policy decisions - US ISM data disappoints - Chinese, UK PMIs beat expectations The FTSE 100 finished near its best levels of the day on Monday as investors shrugged off disappointing US economic data and looked ahead to upcoming policy decisions in Europe and the UK with
Read moreFTSE 100 movers: Aviva rises on restructuring
2nd Jul 2012 16:01
Shares in Aviva leapt on Monday following reports which emerged over the weekend which are saying the insurance giant is set to sell or wind down between 10 and 15 of its 58 businesses. Barclays, the bank which last week was given a £290m fine for manipulating interbank lending rates, was another
Read moreLondon midday: Footsie advances as Barclays rebounds
2nd Jul 2012 11:41
- Better-than-expected manufacturing data from Asia - Eurozone jobless rate at all-time high - UK manufacturing PMI beats forecasts London's blue-chip index held on to gains on Monday morning with Barclays leading the risers as it continues to rebound after last week's sharp falls. Economic data f
Read moreLondon open: Asian data lifts stocks early on
2nd Jul 2012 08:30
- Chinese, Japanese data comes in better than expected - RBS falls on Libor issues - Barclays Chairman resigns London's blue chips edged higher on Monday morning after manufacturing data in China and Japan boosted sentiment. China's purchasing managers' index (PMI) fell from 50.4 to 50.2 last mont
Read moreSerco offloads German business
2nd Jul 2012 07:11
Serco, the international services company, has signed an agreement to dispose of most of its operations in Germany in a transaction with the local management team. On June 29th, most of the business was transferred in return for net nil cash consideration. Serco Germany was originally established
Read moreLondon close: Global stocks surge after EU agreements
29th Jun 2012 16:30
- Major breakthrough at EU summit - Equity markets rocket across the globe - Another banking scandal hits Barclays London blue chips rallied on Friday on the back of developments at the EU summit overnight, as analysts hailed the agreements as a major breakthrough. The agreements include: the Euro
Read moreLondon midday: Summit developments catch markets by surprise
29th Jun 2012 12:01
- EU leaders announce measures to combat crisis - Spanish, Italian bond yields tumble - Banks involved in another scandal Markets across Europe celebrated this morning what most experts consider to have be surprising 'breakthrough' agreements from the first day of the European Council summit. The
Read moreLondon open: Stocks jump on summit developments
29th Jun 2012 08:45
- EU leaders make break-through agreements - FSA reveals another banking scandal - Banks rise after yesterday's sell-off The FTSE 100 surged in early trading on Friday on the back of developments at the EU summit after European leaders issued a joint statement after the first day of discussions. L
Read moreLondon pre-open: FTSE to soar after EU agreement
29th Jun 2012 07:37
City sources predict the FTSE 100 will open up 102 points from yesterday's close of 5,493, after the EU made a surprise agreement to allow banks to use the Eurozone's bailout funds to boost the region's struggling banks. Following more than 12 hours of discussions in Brussels, the 'breakthrough' dea
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