Editor's Picks
Broker tips: Standard Chartered, Serco, Tate & Lyle
Tuesday 31 May 2011
Standard Chartered has been upgraded to a ‘buy’, from ‘neutral’, by Nomura, which says that the Asia-focused bank is delivering growth in a challenging environment.
Broker snap: Target raised by 8% at Tate & Lyle
Tuesday 31 May 2011
UBS raises its target price for Tate & Lyle and fine-tunes its year-ended-2012 estimates following the food and ingredients group’s full-year results, which were broadly in-line with expectations.
London midday: Rally pauses at 6,000
Tuesday 31 May 2011
The leading share index is sitting around the 6,000 point mark after a strong start this morning. On a relatively quiet day for company news, Serco, the outsourcing company whose activities include running prisons and London’s Docklands Light Railway, has announced the acquisition of India-based service provider Intelenet for up to £385m.
Broker snap: Target raised by 8% at Tate & Lyle
Tuesday 31 May 2011
UBS raises its target price for Tate & Lyle and fine-tunes its year-ended-2012 estimates following the food and ingredients group’s full-year results, which were broadly in-line with expectations. For the 12 months ended 31 March, adjusted pre-tax profit grew by 24% to £267m, while earnings per share (EPS) increased by just 9%.
Market overview: Supports services sector provides a boost
Tuesday 31 May 2011
1200: Support services stocks are lifting the Footsie higher. Wolseley, Aggreko and Serco are all at least 3.3% higher. The latter announced this morning the acquisition of India-based service provider Intelenet for up to £385m, a purchase which Prime Markets thinks should “safely propel” the share price through the “all-important” 200-day moving average of 573p. FTSE 100 up 57 at 5,996.
Market overview: Supports services sector provides a boost
Tuesday 31 May 2011
1200: Support services stocks are lifting the Footsie higher. Wolseley, Aggreko and Serco are all at least 3.3% higher. The latter announced this morning the acquisition of India-based service provider Intelenet for up to £385m, a purchase which Prime Markets thinks should “safely propel” the share price through the “all-important” 200-day moving average of 573p. FTSE 100 up 57 at 5,996.
Exports to power UK growth, BoA says
Tuesday 31 May 2011
A strong export market should help to support UK growth in coming quarters, according to a new report from the Bank of America (BoA).
Broker snap: Intelenet purchase to boost Serco
Tuesday 31 May 2011
After Serco’s recent share price underperformance, Prime Markets thinks that Tuesday’s acquisition of Intelenet should “safely propel” shares higher. The support service provider has bought India-based business process outsourcing firm Intelent for up to £385m. The broker’s target price for the stock is 590p, and a ‘buy’ rating is maintained.
Germany's nuclear exit positive for renewables
Tuesday 31 May 2011
Germany's decision to exit all of its nuclear power plants marks a clear win for renewable energy, according to Matrix, which highlights a number of UK companies that could benefit.
Market overview: FTSE 100 above 6,000
Tuesday 31 May 2011
0945: The FTSE 100 is above 6,000 points as it continues its strong run from before the long weekend. Just three large-cap stocks are in the red. Among the risers today are Serco the outsourcing company whose activities include running prisons and London’s Docklands Light Railway. It has announced the acquisition of India-based service provider Intelenet for up to £385m. In the FTSE 250, set-top
London open: FTSE 100 builds on gains
Tuesday 31 May 2011
The top share index is adding to the gains it made ahead of the long weekend and homing in on the 6,000 point mark around which it has been flitting since the start of the year.
Asia: Industrial production outlook lifts stocks
Tuesday 31 May 2011
The Nikkei rose 1.99% on Tuesday, boosted by an encouraging industrial production outlook and the weaker yen against the dollar.
Capita buys healthcare jobs agency
Tuesday 31 May 2011
Outsourcing specialist Capita has acquired specialist healthcare recruitment firm Team24.
London pre-open: Outsourcers get cheque books out
Tuesday 31 May 2011
In a quiet resumption of corporate activities following the long week-end break, outsourcers Capita and Serco have done their bit to liven things up, with both companies announcing bolt-on acquisitions.
Broker snap: Standard Chartered upgraded to 'buy'
Tuesday 31 May 2011
Standard Chartered has been upgraded to a ‘buy’, from ‘neutral’, by Nomura, which says that the Asia-focused bank is delivering growth in a challenging environment. “For investors looking for top-line growth within a UK & European banks sector where growth is often a scarce commodity, we believe that Standard Chartered remains well positioned for the long term,” the Japanese broker said
End may be in sight for Greece talks
Monday 30 May 2011
The talks between auditors from the European Union (EU), the International Monetary Fund (IMF) and the European Central Bank (ECB) about new rescue measures for Greece have dragged on into the fourth week, but could be concluded by Wednesday, Greece's finance minister, George Papaconstantinou, said Monday.
Greece may allow unprecedented supervision for aid
Sunday 29 May 2011
"European leaders are negotiating a deal that would lead to unprecedented outside intervention in the Greek economy, including international involvement in tax collection and privatisation of state assets, in exchange for new bail-out loans for Athens. People involved in the talks said the package would also include incentives for private holders of Greek debt voluntarily to extend Athens’
Sunday tips round-up: Electrocomponents, Innovation, G4S
Saturday 28 May 2011
“Electrocomponents, the electrical component distributor, has a clear strategy of expanding its product range, selling more of its products online and increasing its international footprint. (...) The company's international business now accounts for 70pc of sales – and it is showing sales growth of an impressive 25pc. Group eCommerce sales rose 37pc and now accounts for over half of revenues.
US close: Stocks up on day, down on week
Saturday 28 May 2011
US stocks finished the week on a firm note in light trading ahead of the extended Memorial Day week-end, clawing back some of the losses seen earlier in the week.
Britvic gets a lift from France
Friday 27 May 2011
First half sales at soft drinks group Britvic jumped by a quarter after a first-time contribution from its French division. Group revenue grew by 25.3% from £505.3m to £633.1m in the six months ended 17 April, with Britvic France registering sales of £117.4m. Revenue from the UK business unit increased by 4%, helped by second-quarter growth of 6.8%.
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