Wednesday preview: Serco, WPP, Tullow Oil
25th Aug 2009 16:54
Outsourcing specialist Serco releases half-year results on Wednesday that are expected to show a substantial improvement in pre-tax profit on the back of some chunky contract wins. Broker Charles Stanley is forecasting a pre-tax profit of £85m, versus £67.3m in the first half of last year, and is t
Read moreLondon close: Stocks finish ahead
24th Aug 2009 16:23
London's leading shares have finished the day with comfortable gains as miners and banks stole the limelight. Mining giant Rio Tinto is reportedly in talks with the Aluminium Corporation of China (Chinalco) over co-operation in bauxite and alumina production. The Australian Financial Review newspap
Read moreLondon afternoon: Centrica claims victory
24th Aug 2009 14:33
The Footsie regained some of its momentum over the lunch-time session, helped by expectations of a firm start on Wall Street. Centrica is wanted after it declared victory in its battle to take over Venture Production. The British Gas owner bought another 8.4% of Venture shares this morning, taking
Read moreBroker tips: WPP, G4S, Bunzl
24th Aug 2009 13:02
Security solutions provider G4S is still enjoying top-line growth but the 4.8% improvement in organic growth over the first half of the year disappointed the market. Broker Panmure Gordon observes that currency movements had something to do with the lower than expected improvement in organic growth
Read moreBroker snap: Mixed views on WPP
24th Aug 2009 12:54
Advertising group WPP was the top performing blue-chip on Monday despite expectations that Wednesday's interim results will see a decline in like-for-like sales of around eight or nine per cent in the second quarter. The share price was boosted by Deutsche Bank issuing a 'buy' recommendation. The b
Read moreLondon midday: Footsie backs off from 4900
24th Aug 2009 12:06
London's blue-chips are off the top but still predominantly in the blue. Strong miners and financials helped push the FTSE 100 index above 4900 shortly before 11:00am but this just encouraged profit-takers to make their move. Advertising firm WPP was the morning's best performer ahead of results o
Read moreSector movers: Software stocks in demand
20th Aug 2009 14:32
Technology firm Autonomy is lifting the software and computer services sector higher after it said Autonomy Scrittura, its flagship product for automating critical trade-related processes, is now powered by Autonomy's Intelligent Data Operating Layer (IDOL). The company claimed the integration would
Read moreBroker tips: Rio Tinto, WPP, TT Electronics
20th Aug 2009 13:01
Interim results from Rio Tinto came in slightly below market expectations but Jonathan Jackson, head of Equities at Killik & Co, believes that the group is broadly delivering on a number of commitments made at the end of last year, particularly in the area of debt reduction. The overall tone of the
Read moreBroker snap: Fears of WPP equity issue overdone
20th Aug 2009 12:57
Nomura Securities has reiterated its 'buy' recommendation on WPP ahead of the advertising giant's interim results next week. The Japanese brokerage notes that WPP shares have just about outperformed the Dow Jones STOXX 600 index of European companies recently but has lagged advertising peers such a
Read moreLondon close: Heavy losses for Footsie
2nd Jul 2009 16:37
Footsie closed the day nursing triple-digit losses as investors took fright following poor US monthly jobs figures. WPP was the day's worst performer as Citigroup downgraded the UK advertising firm to sell from hold, saying a continuation of the trends in the second quarter would suggest a 7.5% org
Read moreLondon close: Footsie ends down
12th Jun 2009 16:34
London's top stocks have finished slightly lower despite a late flurry as a lacklustre start on Wall Street kept stocks down. Indian refiner and miner Vedanta led the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has decl
Read moreLondon afternoon: Stocks still in the red
12th Jun 2009 15:08
London's top stocks are still in the red, with a lower start on Wall Street adding to the earlier pressures. Indian refiner and miner Vedanta leads the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has declined to take p
Read moreBroker tips: BT, WPP, Arm Holdings
12th Jun 2009 13:26
The share price of telecoms giant BT has taken a battering this year but Merrill Lynch believes the shares are now low enough to be worth buying. The US broker reckons that the problems at the Global Services arm and the worries over the company's pension deficit are factored into the share price.
Read moreBroker snap: WPP trading at discount to peers
12th Jun 2009 13:23
The 6.7% drop in like-for-like sales in the first four months of 2009 announced by advertising and marketing giant WPP last week has not deterred Goldman Sachs from adding the stock its conviction buy list. Goldman Sachs (GS) said that although WPP's sales figures were bad, they could be close to b
Read moreWednesday newspaper round-up: BP, Barclays, WPP
3rd Jun 2009 06:13
BP is preparing to shut its $18bn (£11bn) UK final salary pension scheme to new members, in the latest blow to generous retirement provision for Britain's workforce. BP was one of the few FTSE 100 blue-chip companies to maintain a final salary scheme for new recruits, the Times reports. Hugh Osmon
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