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Pin to quick picksIntertek Group Share News (ITRK)

Share Price Information for Intertek Group (ITRK)

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Share Price: 4,904.00
Bid: 4,914.00
Ask: 4,916.00
Change: -18.00 (-0.37%)
Spread: 2.00 (0.041%)
Open: 4,904.00
High: 4,972.00
Low: 4,904.00
Prev. Close: 4,922.00
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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)

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17 May 2023 15:46

UK earnings, trading statements calendar - next 7 days

Thursday 18 May 
Brighton Pier Group PLCFull Year Results
BT Group PLCFull Year Results
Burberry Group PLCFull Year Results
ConvaTec Group PLCTrading Statement
easyJet PLCHalf Year Results
Energean PLCTrading Statement
Future PLCHalf Year Results
Helios Towers PLCQ1 Results
International Distributions Services PLCFull Year Results
Investec PLC and LtdFull Year Results
National Grid PLCFull Year Results
Nexus Infrastructure PLCHalf Year Results
Premier Foods PLCFull Year Results
Premier Miton Group PLCFull Year Results
TheWorks.co.uk PLCTrading Statement
Tritax EuroBox PLCHalf Year Results
Tyman PLCTrading Statement
Vesuvius PLCTrading Statement
Friday 19 May 
IQE PLCFull Year Results
Knights Group Holdings PLCTrading Statement
Smiths Group PLCQ3 Results
Titon Holdings PLCHalf Year Results
Tharisa PLCHalf Year Results
Monday 22 May 
Big Yellow Group PLCFull Year Results
Chrysalis Investments LtdTrading Statement
Henderson European Focus Trust PLCHalf Year Results
Kainos Group PLCFull Year Results
Pershing Square Holdings LtdQ1 Results
Ryanair Holdings PLCFull Year Results
Schroder Oriental Income Fund LtdHalf Year Results
Wincanton PLCFull Year Results
Tuesday 23 May 
Assura PLCFull Year Results
Avon Protection PLCHalf Year Results
Benchmark Holdings PLCHalf Year Results
Bytes Technology Group PLCFull Year Results
Caledonian Trust PLCFull Year Results
Calnex Solutions PLCFull Year Results
Cranswick PLCFull Year Results
Engage XR Holdings PLCFull Year Results
FD Technologies PLCFull Year Results
Forterra PLCFull Year Results
Harworth Group PLCTrading Statement
Helical PLCFull Year Results
Hilton Food Group PLCTrading Statement
Ixico PLCHalf Year Results
JPMorgan China Growth & Income PLCHalf Year Results
Pebble Group PLCFull Year Results
Princess Private Equity Holding LtdQ1 Results
Residential Secure Income PLCHalf Year Results
RS Group PLCFull Year Results
Schroder AsiaPacific Fund PLCHalf Year Results
Seraphim Space Investment Trust PLCQ1 Results
SSP Group PLCHalf Year Results
Topps Tiles PLCHalf Year Results
Trellus Health PLCFull Year Results
Victorian Plumbing Group PLCHalf Year Results
Watkin Jones PLCHalf Year Results
Wednesday 24 May 
Aviva PLCTrading Statement
Bakkavor Group PLCTrading Statement
Bodycote PLCTrading Statement
C&C Group PLCFull Year Results
Close Brothers Group PLCTrading Statement
Ediston Property Investment Co PLCHalf Year Results
Empiric Student Property PLCTrading Statement
Esken LtdFull Year Results
Great Portland Estates PLCFull Year Results
Gym Group PLCTrading Statement
HICL Infrastructure PLCFull Year Results
Intertek Group PLCTrading Statement
Kier Group PLCTrading Statement
Kingfisher PLCQ1 Results
LondonMetric Property PLCFull Year Results
Majedie Investments PLCHalf Year Results
Marks & Spencer Group PLCFull Year Results
Mediclinic International PLCFull Year Results
Mortgage Advice Bureau Holdings PLCTrading Statement
N Brown Group PLCFull Year Results
Petershill Partners PLCTrading Statement
Purplebricks Group PLCTrading Statement
Regional REIT LtdTrading Statement
Sabre Insurance Group PLCTrading Statement
Severn Trent PLCFull Year Results
Sondrel Holdings PLCFull Year Results
SSE PLCFull Year Results
Tullow Oil PLCTrading Statement
Wynnstay Properties PLCFull Year Results
Zotefoams PLCTrading Statement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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12 May 2023 13:26

ShoreCap raises estimates for Intertek but keeps at 'hold'

(Sharecast News) - Analysts at ShoreCap raised their profit estimates for Intertek despite concerns around the product testing and inspection specialist's ability to deliver on its targets.

Read more
9 May 2023 13:35

RBC Capital lifts Intertek to 'sector perform'

(Sharecast News) - RBC Capital Markets upgraded its stance on inspection, product testing and certification company Intertek on Tuesday to 'sector perform' from 'underperform' as it said the stock was close to fair value.

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9 May 2023 09:29

LONDON BROKER RATINGS: RBC raises Intertek; Davy likes Greencoat UK

(Alliance News) - The following London-listed shares received analyst recommendations xxxxday morning:

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9 May 2023 08:00

LONDON BRIEFING: Stocks called higher; UK house prices slip in April

(Alliance News) - Stocks in London are expected to open higher on Tuesday, as financial markets reopen after the long weekend and after a mixed day of trading over in Asia.

Read more
9 May 2023 07:52

Broker tips: IAG, Intertek

(Sharecast News) - Liberum reiterated its 'buy' recommendation on BA and Iberia owner IAG on Tuesday, and lifted its price target to 350p from 240p as it said positive earnings momentum was set to continue.

Read more
3 May 2023 10:48

Intertek unveils new segmental growth strategy

(Sharecast News) - Quality assurance and testing specialist Intertek took the wraps off its new 'Intertek 30 AAA' growth strategy on Wednesday, aiming to unlock significant value growth opportunities.

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3 May 2023 09:34

IN BRIEF: Intertek trading in line with guidance, updates growth plans

Intertek Group PLC - London-based quality assurance service provider - Says current trading for 2023 is in line with guidance. Expects to invest around GBP115 million to GBP125 million in capital expenditure and financial net debt to be in the range of GBP630 million to GBP680 million in 2023. Announces 'Intertek 30 AAA' growth strategy, including plans for a "stronger portfolio poised for faster growth", targeting mid-single-digit like-for-like revenue growth at constant currency and to return margin to 17.5% peak "and beyond". This is alongside higher cash generation to fuel growth investments and deliver strong returns, as well as "more agile organisation and high-performance capability to unlock significant value growth opportunity".

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Travis Perkins appoints former Croda finance director as non-executive

(Alliance News) - Builders' merchant Travis Perkins PLC on Thursday said that Pete Redfern will step down as a senior independent director on June 1.

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19 Apr 2023 09:48

LONDON BROKER RATINGS: Stifel likes Ryanair but not On The Beach

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday afternoon:

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17 Apr 2023 21:15

U.S. stocks skittish, but still score gains

*
Main U.S. equity indexes end slightly green

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Can stocks bottom ahead of a recession?

*
Main U.S. equity indexes now just slightly red; Nasdaq off ~0.2%

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Taking stock of some rare bullish triggers

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Main U.S. equity indexes modestly red: Nasdaq off ~0.4%

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It's time for dividends rule

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Main U.S. equity flutter near unchanged

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Turn that frown upside-downish: Empire State, NAHB

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Main U.S. equity flutter near unchanged, Nasdaq slightly lower

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