Tuesday, 30th September 2014

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News & Reports

Tuesday tips round-up: Balfour Beatty, Compass

Tue 30th Sep 14, 07:33:1

Infrastructure and engineering contractor Balfour Beatty's latest figures revealed the danger inherent in chasing large numbers of small contracts, particularly in the low margin world of construction. Any bungling and your bottom line can quickly dip into the red, as the company's fifth profit warning in two years attests. Long gone are the days of big contracts such as the London Olympics or the widening of the UK's busiest motor-way. The result of all of that is that the markets now attach a value of just 1.3bn to the firm, not much more than that of its portfolio of public-private partnership contracts. Ironically, the company rejected a takeover by Carillion at 300p just last month. It is now at 190p. Carillion's shareholders got lucky, writes the FT's Lex column.

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Slowdown in core Eurozone consumer prices weighs on euro

Eurozone consumer price inflation slowed a tad in September, to a 0.3% year-on-year pace, according to the latest figures available from Eurostat. 8 minutes ago

UK GDP expanded at a slightly faster than expected pace in Q2

The UK's gross domestic product (GDP) expanded at a 0.9% quarter-on-quarter clip in the second quarter, according to revised estimates from the Office for National Statistics (ONS). 56 minutes ago

Tuesday broker round-up

BAE Systems: Westhouse Securities moves target price from 360p to 370p, while leaving its sell recommendation unchanged. 55 minutes ago

Bank of Georgia takes ?15m loan from Green for Growth Fund

Bank of Georgia has received a ?15m senior loan facility from Green for Growth Fund (GGF) that will be used to finance energy efficient construction projects in Tbilisi. 1 hour ago

September UK consumer confidence figures drop

September's UK consumer confidence figures fell slightly following June's nine-year high, as households became slightly less positive about personal finances and the overall economic outlook, according to a GfK survey released on Tuesday. 2 hours ago

DCC to sell Robert Roberts and Kelkin

DCC has announced it plan to sell its Robert Roberts and Kelkin businesses to Valeo Foods for 47m in cash. 1 hour ago

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