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Morrisons, G4S, Meggitt set for demotion in FTSE reshuffle

Mon, 30th Nov 2015 11:21

(ShareCast News) - Morrisons, G4S and Meggitt look set to lose their spots in the FTSE 100 on Wednesday, with Worldpay, Provident Financial and DCC likely to replace them.The FTSE committee will reveal the results of its quarterly index on Wednesday, with changes effective from 21 December.Aerospace and defence firm Meggitt is almost certain to be relegated to the FTSE 250 after the company's shares tumbled 20% on the back of a profit warning in late October. Meggitt cautioned that full year profit would be well below forecasts after it suffered softer trading in the third quarter, with a "marked deterioration" in its end markets in September.Security firm G4S also looks set for a demotion, while supermarket retailer Morrisons - which only narrowly escaped demotion at the June and September reviews - is also a strong candidate.Earlier this month, Morrisons said third quarter like-for-like sale fell at a faster rate than in the previous quarter and more sharply than expected, mostly due to deflation from its part in the grocery industry price war, as discount retailers Aldi and Lidl grow their market share."Third time might not be lucky for Morrisons' place in the UK benchmark after it survived in the June and September reshuffles," said Jasper Lawler, market analyst at CMC Markets."There doesn't look like there'll be another 'Weir Group situation' where another listing loses a lot of market cap just prior to the promotions and demotions are decided," he added.Payments processor Worldpay, which only joined the stock market in mid-October of this year and has a market capitalisation of around £5.9bn, is expected to take a spot on the top-flight index.It is expected to be joined by sub-prime lender Provident Financial and business support services firm DCC.Provident shares have risen 25% since the last quarterly review, while DCC's are up 21%.
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18 Mar 2019 08:22

FIS to buy Worldpay in $43bn cash and stock deal

(Sharecast News) - Payments processor Worldpay has agreed to be bought by US financial services technology company FIS in a $43bn deal.

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3 Apr 2018 21:40

Mall owners Namdar, Washington Prime in bid to buy Bon-Ton -sources

By Jessica DiNapoli and Tom Hals April 3 (Reuters) - U.S. mall owners Namdar Realty Group and Washington Prime Group Inc are in talks to acquire store operator Bon-Ton

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7 Feb 2017 15:10

Tuesday broker round-up

(ShareCast News) - Cairn Energy: Deutsche Bank upgrades to buy with a target price of 275p. Servelec Group: Berenberg reiterates buy, 391p target. Anglo American: JP Morgan reiterates overweight with a 1470p target. Premier Oil: Deutsche Bank downgrades to hold with a 90p target. Sanne Group: Be

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2 Feb 2017 08:16

Worldpay poaches Santander's Peter Jackson to be new UK CEO

(ShareCast News) - Worldpay has poached Santander's former head of global innovation Peter Jackson to head its UK business, starting on 1 March. The online payments company said that Jackson will report to group chief executive Philip Jansen. Prior to Santander, Jackson was chief executive at Trave

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2 Feb 2017 07:45

TOP NEWS: Worldpay Appoints Santander Head Of Innovation As UK CEO

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6 Jan 2017 10:21

Exane ups Worldpay to 'outperform' after de-rating

(ShareCast News) - Exane BNP Paribas upgraded payments processor Worldpay to 'outperform' from 'neutral' and lifted the price target to 340p from 290p, saying last year's de-rating provides a better entry point. The bank said it is still cautious on Worldpay's ecommerce margins and capex but factors

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12 Dec 2016 15:55

Monday broker round-up

(ShareCast News) - Greencore: Berenberg reiterates buy with a target price of 350p. Talk Talk: UBS reiterates neutral, 160p target. Barclays: JP Morgan reiterates neutral with a 215p target. Bunzl: Deutsche Bank reiterates buy with a 2450p target. Old Mutual: Barclays downgrades to equal-weight w

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7 Dec 2016 09:33

BROKER RATINGS SUMMARY: Credit Suisse Raises Rio Tinto And Cuts BHP

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11 Oct 2016 15:07

UK Dividends Calendar - Next 7 Days

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28 Sep 2016 14:32

Worldpay appoints Kim Crawford Goodman as US chief executive

(ShareCast News) - FTSE 100 payments process Worldpay has appointed Kim Crawford Goodman as chief executive officer of its US business with effect from 7 November. After a handover period, she will succeed Floris de Kort who has decided to leave the group at the end of this year. Goodman has held s

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19 Sep 2016 07:19

Andes Energia Snaps Up BT Chairman Michael Rake As Non-Executive

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8 Sep 2016 15:12

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7 Sep 2016 08:31

Worldpay slumps as Bain, Advent sell more shares than expected

(ShareCast News) - Shares in payments processor Worldpay slumped on Wednesday as it emerged that private equity firms Advent International and Bain Capital LLP sold a bigger-than-expected stake in the company through their Ship Global 2 & Cy SCA vehicle. Ship Global, which is jointly owned by the tw

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7 Sep 2016 07:33

LONDON MARKET OPEN: Mixed Open; Ashtead Leads Gainers, Worldpay Losers

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