The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksIntertek Group Share News (ITRK)

Share Price Information for Intertek Group (ITRK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 4,882.00
Bid: 4,880.00
Ask: 4,884.00
Change: -22.00 (-0.45%)
Spread: 4.00 (0.082%)
Open: 4,904.00
High: 4,912.00
Low: 4,862.00
Prev. Close: 4,904.00
ITRK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Intertek outperforms as UK's FTSE rises to near 3-week high

Wed, 29th Oct 2014 17:07

* FTSE 100 closes up 0.8 pct at 6,453.87 points

* Expectations of dovish Fed support global equities

* Intertek buoyed by positive broker comments

* Capita slumps after missing out on contract

By Sudip Kar-Gupta

LONDON, Oct 29 (Reuters) - Britain's top equity index roseto its highest level in nearly three weeks on Wednesday asexpectations the U.S. Federal Reserve will signal it is in norush to raise interest rates buoyed stock markets.

Intertek was the top performer on the blue-chipFTSE 100 index following positive broker comments, withthe FTSE itself closing up by 0.8 percent at 6,453.87 points.

Shares in the company, which carries out tests andinspections to make sure that goods meet health and safetystandards, climbed 5.1 percent.

Traders attributed Intertek's rise to a decision byCitigroup to reiterate a "buy" rating on the stock, while JPMorgan also kept an "overweight" rating on the company aftergetting positive feedback from a meeting with its management.

"Intertek's meeting with JP Morgan last night left themimpressed," said Securequity sales trader Jawaid Afsar.

Supermarket retailer Tesco also rose 2.1 percent.Traders shrugged off news that Britain's Serious Fraud Officewas launching a probe into accounting errors at Tesco and boughtup the beaten-down shares, which have fallen nearly 50 percentsince the start of 2014.

"There is so much negative news already out there on Tesco,that an announcement such as the one by the Serious Fraud Officewill not be enough to prevent bargain hunters from coming in forthe stock," Beaufort Securities sales trader Basil Petridessaid.

However, business services company Capita slumped6.5 percent after it lost out to rivals, including Interserve, in a bid to help run the bulk of Britain'srehabilitation centres for low and medium-risk offenders.

EXPECTATIONS OF DOVISH FED

The U.S. central bank is expected to announce after a policymeeting that it is ending its bond purchases amid signs ofstrength in the U.S. economy, but it is also likely to reinforceits willingness to wait before raising interest rates after avolatile month in financial markets.

The FTSE 100 hit a peak of 6,904.86 points at the start ofSeptember, its highest since early 2000, but it then slumped to15-month lows in October as weak European economic data knockedback stock markets.

"We're seeing evidence that people are anticipating a moredovish Fed in response to the slowdown in the euro zone and thedisinflation that has been gripping many of the majoreconomies," said Alpari UK market analyst Craig Erlam. (Additional reporting by Alistair Smout and Tricia Wright;Editing by Susan Fenton and Emelia Sithole-Matarise)

More News
24 Nov 2021 16:58

LONDON MARKET CLOSE: FTSE 100 continues outperforming on oil strength

LONDON MARKET CLOSE: FTSE 100 continues outperforming on oil strength

Read more
24 Nov 2021 12:13

LONDON MARKET MIDDAY: Airlines and gambling firms stymie FTSE 100

LONDON MARKET MIDDAY: Airlines and gambling firms stymie FTSE 100

Read more
24 Nov 2021 09:50

UPDATE 2-Telecom Italia tops Europe's STOXX 600 amid spiking COVID-19 cases

* KKR explores higher bid for Telecom Italia -reports* Travel stocks extend declines to seventh session* Weakening German business morale pushes DAX lower (Adds comments, details, updates prices throughout)By Anisha Sircar and Shreyashi SanyalNov 24...

Read more
24 Nov 2021 09:13

LONDON MARKET OPEN: US President Biden unable to stop rising oil price

LONDON MARKET OPEN: US President Biden unable to stop rising oil price

Read more
24 Nov 2021 08:57

IN BRIEF: Intertek shares rise 6% as promises "robust" revenue growth

IN BRIEF: Intertek shares rise 6% as promises "robust" revenue growth

Read more
24 Nov 2021 08:19

LONDON BRIEFING: Johnson Matthey tries to make amends with cash return

LONDON BRIEFING: Johnson Matthey tries to make amends with cash return

Read more
24 Nov 2021 07:27

Intertek on track for solid annual growth

(Sharecast News) - Intertek said it was on track for solid annual growth as the product testing company reported revenue up 6.7% in the most recent four-month period.

Read more
17 Nov 2021 16:00

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
30 Sep 2021 15:55

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
9 Sep 2021 16:00

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
26 Aug 2021 09:24

Ricardo names former Intertek and BT executive as new CEO

Ricardo names former Intertek and BT executive as new CEO

Read more
3 Aug 2021 09:32

BROKER RATINGS: Berenberg raises Rightmove to Hold from Sell

BROKER RATINGS: Berenberg raises Rightmove to Hold from Sell

Read more
2 Aug 2021 09:37

BROKER RATINGS: Reckitt Benckiser upgraded; Smurfit Kappa and Tui cut

BROKER RATINGS: Reckitt Benckiser upgraded; Smurfit Kappa and Tui cut

Read more
30 Jul 2021 17:06

LONDON MARKET CLOSE: FTSE 100 ends lacklustre month on downbeat note

LONDON MARKET CLOSE: FTSE 100 ends lacklustre month on downbeat note

Read more
30 Jul 2021 12:11

LONDON MARKET MIDDAY: Stocks head for negative week on Amazon, Covid

LONDON MARKET MIDDAY: Stocks head for negative week on Amazon, Covid

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.