City Moves for 12 November 2015 | Who’s switching jobs November 11, 2015 Lloyds Bank Commercial Banking Michael Bond has been appointed mid markets relationship director in the bank’s technology, media and telecommunications team in London. He previously held a similar role at Lloyds, looking after clients in the education, communities and government sector across the South East. State Street Global Advisors State Street’s asset management arm has [...]
Equiniti Group set for £390m London float October 2, 2015 Investor services firm Equiniti Group confirmed its plans to float on the stock market today. Equiniti, which provides share registration and investor services, said it planned to raise £390m through the float on the main market of the London Stock Exchange. The company intends to use proceeds from the IPO to reduce debt, which currently stands at £440m, and pursue potential [...]
Best of the Brokers for 18 September 2015 September 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SERCO GROUP Berenberg thought yesterday’s £250m sale of offshore operations BPO to Blackstone was a turnaround and updated its rating from “sell” to “hold”, with a target price unchanged at 100p for public services contractor Serco. The disposal brought the company’s debt back [...]
G4S revenue up as new contract sales reach £1.4bn August 12, 2015 G4S said revenues rose to £3.3bn in the first half of this year, thanks to new contracts and growth in emerging markets. G4S share price is trading 0.8 per cent down on the news at 264.9p. The figures The outsourcing giant reported underlying profit before interest, tax and amortisation of £193m in the first six months [...]
Serco share price jumps as losses beat expectations August 11, 2015 Shares in troubled outsourcer jumped nearly three per cent to 129.2p in early trading after it displayed Churchillian levels of stoicism… The figures In a statement this morning, Serco said revenues in the six months to the end of June fell to £1.8bn, from £2bn this time last year, while its operating profit fell to a £24.8m loss [...]
Joblessness data and retail figures focus of quiet week – London Report August 9, 2015 THE CORPORATE results season has past its peak, but the week ahead is due to see some big financial news nonetheless, including UK unemployment figures on Wednesday. Tomorrow retail sales data will be published, while on Friday construction industry output figures will be out. Prudential is reporting its half-year interims tomorrow after chief executive Tidjane [...]
Best of the Brokers for 06 July 2015 July 5, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com 888 Canaccord Genuity raised its rating for the online casino company to “buy” from “hold”. 888 reports results in late August, and while declining profits are expected by Canaccord, the broker expects that the underlying picture will be much more positive. SERCO Berenberg [...]
Best of the Brokers for 3 July 2015 July 2, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SERCO GROUP Numis upgraded the outsourcing group from a “reduce” to a “hold” recommendation, following an “encouraging” update. “Though the turnaround will take an extended period, we think the problem contract issues have been contained, and the balance sheet has been de-risked,” the [...]
Serco investors positive after trading update July 1, 2015 OUTSOURCING group Serco gave its investors an optimistic update yesterday, and said trading in the year to date has been “a little better” than expected. Shares in the company were up by 6.53 per cent at the close after it confirmed that expectations for the year as a whole remain unchanged from those set out [...]
FTSE lifted by airlines after runway verdict – London Report July 1, 2015 BRITAIN’S top equity index bounced back from five-and-a-half month lows yesterday, lifted by airline stocks that were boosted by lower oil prices and a recommendation for a new runway at London’s Heathrow airport. The blue-chip FTSE 100 index was up by 80.88 points, or 1.2 per cent, at 6,608.59 points by the close. It was [...]