London open: Stocks give up gains
9th May 2011 08:28
Stocks have fallen back after Friday's surge, with company updates sending shares in both directions. Energy supplier Centrica is an early struggler after saying it expects profits growth in 2011 to be more subdued than previously anticipated due to the new tax regime on UK oil production. The incr
Read moreLondon pre-open: Profit takers hold sway
9th May 2011 07:39
After Friday afternoon's surge on the back of better than expected US jobless data investors looks set to be quick to bank profits at the start of the new week. City traders expect London's blue-chip index to open almost 30 points lower at around 5,947. Energy supplier Centrica expects profits grow
Read moreSerco pipeline gives comfort
9th May 2011 07:13
Outsourcing giant Serco is drawing comfort from its £29bn pipeline of identified opportunities despite some short-term headwinds in the UK, and is on course to hit its 2011 targets. "Since the beginning of the financial year, we have been awarded £1.6bn of contracts, comprising signed contracts val
Read moreSerco wins prisoner transportation contract
16th Mar 2011 15:34
Serco, the provider of outsourced services to the government, has won a contract to escort prisoners to and from jails and courts in London and the east of England. The contract, which was signed with the Ministry of Justice, is valued at £42m a year for seven years, with the possibility of being e
Read moreBroker tips: Prudential, BHP, Serco
10th Mar 2011 14:24
Nomura seems concerned that, despite consensus-beating results, only a quarter of Prudential's earnings come from Asia, and has maintained its 'reduce' recommendation on the insurer. "Prudential's results beat consensus in most respects but most of the company's growth came from the US and not Asia
Read moreBroker snap: International performance underpins Serco outlook
10th Mar 2011 13:45
UBS says that the outlook at Serco is encouraging as some short-term headwinds in the UK should be offset by a longer-term pipeline and international performance. 2010 results announced last week were broadly in-line with market expectations, "with growth and cash flow particularly encouraging in o
Read moreShaftesbury boss invests £100,000
4th Mar 2011 17:03
Shaftesbury chief executive Jonathan Lane has invested a further £100,000 in the property investor. Lane has bought 22,222 shares at 450p each. That takes his stake to 966,233 shares, which is worth £4.3m at the latest purchase price. Lane raised just over £99,000 from the sale of option shares la
Read moreFTSE 100 movers: Talis purchase boosts Capita
4th Mar 2011 13:27
Outsourcing firm Capita Group has acquired Talis Information, a provider of management software and managed services to the academic sector. Fellow outsourcing group Serco is also higher after Bank of America Merrill Lynch raised its recommendation from neutral to buy. Advertising giant WPP made
Read moreThursday tips round-up: Carillion, Admiral, Serco
3rd Mar 2011 06:30
Construction and engineering group Carillion's annual results came in above expectations, with underlying pre-tax profits up by 7% to £122m, operating margins boosted to 4.2% and plans to hike the full-year dividend by 6% to 39.4p. Davina Mendelsohn, at Deutsche Bank, rates Carillion one of the chea
Read moreLondon close: FTSE 100 falls short as turmoil continues
2nd Mar 2011 17:01
Shares fought valiantly to finish in the blue but fell short as worries over the turmoil in the Middle East continued to cast a shadow. Gold moved above $1,436 to a record high as traders sought safe investments amid turbulent times. The oil price stayed strong having risen above $100 in New York.
Read moreLondon afternoon: Footsie narrows deficit
2nd Mar 2011 15:45
An improvement on Wall Street has lifted the mood in London, although prices are still under pressure following a mixed reaction to today's batch of results. Asia-focused bank Standard Chartered posted profits bang in line with forecasts at $6.12bn for 2010, while this year got off to a flying sta
Read moreFTSE 100 movers: Standard Chartered meets expectations
2nd Mar 2011 14:09
Asia-focused bank Standard Chartered reported profits in line with forecasts at $6.12bn. This year has got off to a flying start, with the group enjoying a record January, both in terms of income and profit. Outsourcer Serco says that it foresees "headwinds" in 2011 as the government's austerity
Read moreLondon midday: Shares in partial recovery
2nd Mar 2011 12:30
Shares have moved back towards positive territory after a difficult start, with the Middle East turmoil still casting a shadow. Company updates have been given a mixed reception. The price of a barrel of oil traded above $100 a barrel as the fighting continues in Libya. Latest reports say forces lo
Read moreLondon open: Subdued start as Libya weighs
2nd Mar 2011 08:49
Blue chips have made a subdued start with the ongoing situation in the Middle East/North Africa and possible impact on oil prices weighing heavy. Some shares are making progress. Profits in 2010 from Asia-focused bank Standard Chartered were bang in line with forecasts at $6.12bn, while 2011 got of
Read moreSerco sees UK headwinds
2nd Mar 2011 07:28
Outsource giant Serco expects "headwinds" in 2011 as the government's austerity measures bite, but still expects to make progress towards its 2012 targets. Serco posted strong figures for 2010 with profits up by 21% to £214m, from £177m, on sales up 9% to £4.33bn. Underlining the performance, the d
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