Serco Share News (SRP)

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Share Price Information for Serco (SRP)

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254.40 4.20 (1.68%)

Bid:

253.40

Ask:

253.60

Spread: 0.20 (0.079%)

Market Cap: £2.50b

Last checked at -

Intraday Serco Share Chart

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BUZZ-Serco: relief rally

Wed, 01st Jul 2015 08:58

** Outsourcer Serco standout performer on the Stoxx600 and best performing UK midcap in decentvolume after co reaffirms FY guidance

** Welcome boost for co which has reported a string ofprofit downgrades, contract problems & scandals since 2013

** Stock jumps 12%, biggest one-day rise since Feb 2014;shares weak into numbers, down c.17% since an early May peak,with recent analyst revisions having proved negative

** Jefferies says key for co's rehabilitation isreplenishing business development & bid team capability; updatesheds no light on this, but a lack of EPS downgrades likelydriving the rally given share weakness & heavy short interest (RM: tricia.wright1.thomsonreuters.com@reuters.net)