London pre-open: Bernanke's comments to dent FTSE
8th Jun 2012 07:37
City sources predict the FTSE 100 will open down 37 points from yesterday's close of 5,448, after comments from Federal Reserve Chairman Ben Bernanke on Thursday, when he said 'the situation in Europe poses significant risks to the US financial system and economy and must be monitored closely'. P
Read moreUltra bags US Navy contract
8th Jun 2012 07:16
Ultra Electronics, the technology company with interests in defence, transport and energy, has been awarded an Indefinite Delivery, Indefinite Quantity contract by the US Navy. The contract, worth up to $49.2m, requires Ultra to supply upgraded versions of its submarine transducers that are stocke
Read moreFTSE 250 movers: Betfair rises on Spanish licence news
7th Jun 2012 15:53
Online betting exchange Betfair rose after confirming it has received an online gaming licence from the Spanish government. The move had been anticipated since the end of May but the decision sees the final stage of a process begun in the Spring of last year, when Spain's new gambling legislation wa
Read moreUltra Electronics buys US components business RFI
7th Jun 2012 07:26
Defence firm Ultra Electronics has bought a US-based power conversion business to link up with its defence electronics arm, EMS. RFI, based in long Island, New York is an established manufacturer of high-voltage, power conversion subsystems including electronic filters, high voltage capacitors and
Read moreUltra Electronics buys satellite firm
30th May 2012 13:42
Ultra Electonics, a technology company with interests in defence, transport and energy, has acquired satellite company Giga Communcations along with its associated businesses in Australia and the US. The £12.4m initial cash consideration will be followed by an additional £24.6m, subject to earning
Read moreWednesday broker round-up - UPDATE
2nd May 2012 08:37
BP: Jefferies cuts target from 550p to 525p, buy rating kept. British Sky Broadcasting: Jefferies reiterates hold rating and 700p target; Nomura maintains buy rating and 1,000p target. CSR: UBS upgrades from neutral to buy, target lifted from 290p to 310p. Halma: Barclays Capital downgrades from
Read moreUltra Electronics sees tough UK and US defence markets
27th Apr 2012 07:22
Ultra Electronics, the technology company with interests in defence, transport and energy, says it will continue to face strong headwinds from both the US and UK defence market. In an update today the firm says: "In the US, it is anticipated that political brinkmanship on budgets will continue thro
Read moreWednesday broker round-up - UPDATE
29th Feb 2012 09:11
ITV: Nomura maintains neutral recommendation and 88p target; Prime Markets gives buy rating and 95p target; Peel Hunt ups target from 83p to 88p, hold rating kept. Standard Chartered: Nomura keeps buy rating and 1,800p target. CRH: UBS ups target from 1,150p to 1,300p, neutral rating kept. Schrod
Read moreHigher profits at Ultra Electronics
27th Feb 2012 07:59
Defence firm Ultra Electronics reported a 12% jump in full year pre-tax profit after strong demand for its control systems and nuclear sensors. The group, which makes sonars for submarines, said underlying profit before tax rose to £114.9m in the year ended 31 December 2011 from £102.7m the year b
Read moreUltra Electronics scores major contract win
2nd Feb 2012 07:58
Ultra Electronics' USSI business has been awarded US Navy contracts for sonobuoys, the acoustic sensors which are used to detect the presence of submarines, worth just over $20m. The win brings the total amount awarded to the high-tech defence firm since October to $29.2m. Delivery of the sonobu
Read moreUltra Electronics wins Rolls-Royce contracts
26th Jan 2012 07:53
High-tech defence firm Ultra Electronics has announced further contract wins by both its Command & Control Systems business and its PMES business. The contracts, which have been awarded by Rolls-Royce and which have a combined value of just over £27m, are for the supply of Ultra's Reactor Control
Read moreLondon close: Financials lead the way higher
15th Dec 2011 16:56
Footsie limped back above the 5,400 level in thin trade, with financial stocks leading the way. OLD MUTUAL SURGES AFTER DISPOSAL South African savings and insurance group Old Mutual was the best performing blue-chip after announcing that it is to sell its Nordic business Skandia AB for £2.1bn in
Read moreFTSE 250 Movers: International Personal Finance in last place
15th Dec 2011 15:07
Doorstep lending firm International Personal Finance (IPF) was in the bottom spot of the FTSE 250 index after it revealed that global economic volatility has taken its toll on the firm's profit and loss account in 2011. The group highlights the significant unpredictability in foreign exchange (FX)
Read moreBroker tips: Cairn Energy, ITV, Ultra Electronics
15th Dec 2011 12:56
Despite Cairn Energy's "early Christmas present" of a $3.5bn special dividend, Investec stays cautious on the oil giant. However, analyst Angus McPhall said: "Given a lack of success at the drill-bit in Greenland, lower GDP growth rates in India, weakness in the Indian Rupee, and no apparent 'Plan
Read moreLondon midday: Old Mutual and miners provide a lift
15th Dec 2011 11:46
The Footsie held on to gains by lunchtime, breaking through the 5,400 level, with strong gains for Old Mutual and the miners lifted London's blue chip index 0.6% higher. In domestic news, the volume of UK retail sales fell by 0.4% in November compared to the month before, according to the latest da
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