Mouchel set to breach its covenants October 13, 2011 British infrastructure and maintenance group Mouchel said yesterday it was in talks with its lending banks regarding expected covenant breaches caused by a profit warning last week, and named a new interim chairman after incumbent Bo Lerenius resigned. “The board is encouraged that the banks have been supportive and the discussions continue to be constructive [...]
FTSE sees modest rise on solid company news September 6, 2011 Stocks have moved higher this morning following heavy selling in the US and Asia overnight, but markets remain under pressure over fears of a global recession. Positive trading updates from a number of companies have given UK shares a modest lift this morning after yesterday’s 189-point slump. But in a warning sign that investor sentiment [...]
FTSE down as miners struggle but banks rally September 1, 2011 The FTSE 100 failed to track gains on Wall Street and in Asia overnight as the mining sector pegged the index back. Traders and investors were digesting a raft of economic data from across the globe and assessing whether the economic recovery was gaining traction. Miners were hit by figures from China showing that its [...]
FTSE edges up as investors eye US strategy August 31, 2011 The FTSE 100 opened solidly this morning as investors kept their eyes on the situation across the Atlantic with hopes still alive that the US Federal Reserve will trigger stimulus measures to boost the struggling economy. US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal [...]
Austerity measures hit Serco August 24, 2011 BRITISH outsourcing firm Serco yesterday warned of continued austerity headwinds in its core UK and US markets, sending shares down despite posting a 12 per cent first-half profit rise that was ahead of expectations. Serco, whose UK and US business account for around 80 per cent of group revenue, said that austerity measures in the [...]
Miners and energy firms push FTSE to week’s highest close August 24, 2011 Strong miners and energy stocks helped drive Britain’s top share index to its highest close in a week yesterday in choppy trade as investors jostled for position ahead of a speech by Federal Reserve Chairman Ben Bernanke on Friday. Traders pointed to continued speculation that the Fed could unveil a further round of US quantitative [...]
Serco profit up on overseas performance August 24, 2011 British outsourcing group Serco posted a 12 percent rise in first-half profit, boosted by a strong performance in its overseas business, and said it expected growth to continue despite continued UK and U.S. austerity headwinds. Serco, which among other things runs London’s cycle hire scheme and the Dubai metro, on Wednesday said adjusted pretax profit [...]
FTSE bounces up but all eyes move to Fed’s announcement August 9, 2011 BRITAIN’S top share index bounced off 13-month lows yesterday, along with indexes across the Atlantic, as investors hoped an announcement by the US Federal Reserve would calm nerves over global debt and growth problems. “There has been some chatter that the Fed will bring forward the FOMC meeting to announce QE3 [quantitative easing] to the [...]
BEST OF THE BROKERS July 28, 2011 RENISHAW Citi rates the global healthcare company as a “sell” with a target price of £14.92, after this week’s preliminary results revealed a three per cent consensus earnings miss. As the results were in line with the broker’s estimates, though, it views the miss a sign of miscommunication with investors rather than a symptom of [...]
Nervous FTSE ends higher as EU solution for Greece looms July 21, 2011 FINANCIALS drove gains on Britain’s top share index yesterday, as hopes a solution could be found to Europe’s sovereign debt crisis boosted investor sentiment. The UK’s benchmark index closed up 46.07 points or 0.8 per cent at 5,899.89, having endured a choppy session, trading in a 137 point range as nervous investors jostled positions awaiting [...]