It has now been 10 years since the then chancellor George Osborne, introduced the so-called 'pension freedoms' for individuals with defined contribution pension savings. 'Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, anytime they want. No caps. No drawdown limits. Let me be clear. No one will have to buy an annuity,' Osborne...

Stocks in London were mixed on Thursday, while the pound strengthened after the Bank of England cut interest rates in a surprisingly divided vote. The quarter point cut by the BoE taking the bank rate to 4.00% from 4.25% was widely expected. But the split among Monetary Policy Committee members proved surprising, requiring an unprecedented second round of voting. Five members of the nine...

The pound moved higher but stocks in London went into reverse after the Bank of England voted to cut rates in a decision that needed two rounds of votes. Schroders analyst George Brown commented: 'Today's rate cut is no surprise, but the path forward is anything but clear. Jobs, growth and inflation figures all call for different policy prescriptions, as reflected in the unprecedented two...

First-half 'beat' New £50 million buyback Defence sector momentum continues Government outsourcing leader Serco (SRP) was among the top FTSE 250 risers in early dealings after delivering better-than-expected first-half results and announcing a new £50 million buyback. Shares in the company bounced 8.2% to a 10-year high of 226.6p as Serco revealed a 9% rise in its order book, although the...

Artemis UK Future Leaders (AFL) Price: 368p Market cap: £112 million A wide 15% discount to net asset value (NAV) at the recently-renamed Artemis UK Future Leaders (AFL) presents a compelling entry point for investors keen to capture the long-term outperformance of small caps and back the top-quality investment team at Artemis who took over the portfolio on 10 March 2025. New managers Mark...

Stocks in London, Paris and Frankfurt were in the red on Thursday morning, as investors await eurozone GDP and industrial output data. The FTSE 100 index opened down 46.59 points, 0.5%, at 8,538.42. The FTSE 250 was down 65.09 points, 0.3%, at 20,754.48, and the AIM All-Share was down 2.07 points, 0.3%, at 729.55. The Cboe UK 100 was down 0.3% at 852.95, the Cboe UK 250 was down 0.2% at...

2024 targets confirmedCash-flow forecast raised2025 outlook 'resilient'On an off-day for markets, with the FTSE 100 and the All-Share down 1%, facilities management group Serco (SRP) was a rare bright spot following its year-end trading update.The shares gained 8p or 6% to 147p, erasing much of their losses over the last month and indeed year-to-date. SOLID 2024 PERFORMANCEThe group,...

Funds inevitably have their up and downs in performance. When a fund has gone through a particularly poor spell, does this represent a buying opportunity for investors in the expectation it will bounce back to form?Likewise for existing investors, should they stick or twist? Fortunately, there are lots of studies from the institutional fund management world which provide answers to that...

Total contract value $320 millionSpace base near the North PoleCritical work on energy networkOutsourcing and facilities management group Serco (SRP) scored another win with the US military in the form of a four-year contract to modernise a space base 750 miles inside the Arctic Circle for a cool $320 million.The shares, which fell sharply at the start of August after the firm posted a drop in...

Stock prices in Europe were mildly higher on Thursday morning, as investors await the start of the Jackson Hole conference on Thursday which could indicate clues on the trajectory of US interest rates.Amongst individual stocks, JD Sports Fashion saw its shares jump, after updating shareholders on its second quarter growth. Eckoh also took some of the spotlight, after receiving a takeover offer...

First half tops expectationsFull-year guidance increasedMedium-term targets maintainedInvestors in Serco (SRP) received a pleasant surprise as the business services group revealed first-half profits were 'ahead of plan' and full-year profits, free cash flow and leverage would all be better than previously expected.The shares, which had drifted off their highs in the last couple of months,...

Bunzl raises profit target againCapita and Serco orders growDriver the day?s star turnOn a good day for markets in general, UK business services firms were feeling the love after posting positive trading updates.Half a dozen firms, from FTSE 100 distributor Bunzl (BNZL) to FTSE 250 outsourcer Serco (SRP) and staffing firm SThree (STEM) all the way down to tiddlers Capita (CPI), Driver (DRV)...

First half bolstered by organic growth and acquisitionsDefence and immigration services drive upgradeFull year earnings now seen risingInvestors in unloved outsourcing specialist Serco Group (SRP) were jumping for joy on news the firm was increasing its full year profit guidance after a stronger-than-expected first half.The shares, which earlier this week were plumbing 12-month lows around...

- Lok'nStore director cashes in on strong performance- IHG chair increases stake- Serco CEO sells shares to meet Australian tax liabilitiesAndrew Jacobs, chairman of self-storage firm Lok'nStore (LOK:AIM), has sold £10 million worth of shares to meet demand for stock from institutional investors. He is still left with nearly 4.4 million shares, equal to 14.5% of the company.The disposal...

Optimism that the UK economy may not be as weak as once feared has lifted numerous UK stocks so far in 2023. Yet many investment trusts continue to trade at wide discounts to their net asset values - both relating to UK stocks and overseas ones. It means their share prices are worth less than the value of the investments in their portfolios.According to Winterflood data, the average investment...

Achieving decent returns has been difficult in 2022 as shareholders in many investment trusts have found to their cost. According to data from the Association of Investment Companies, the average one-year share price total return from all trusts (excluding venture capital trusts) is -13.7%.However, several trusts have really stood out from their sector peers this year. In this article we...

There is no question this year has been an extraordinarily difficult one for many companies, who have had to cope with a sharp rise in both operating and financial costs as energy and labour prices have jumped and interest rates have gone up.It is therefore not such a surprise that FTSE 100 chief executives are leaving in record numbers, with over a dozen either having moved already this year...

It is one thing for analysts to forecast which stocks and sectors will do well in a rising-rate or inflationary environment, but when it actually comes to pass it's always fascinating to see what works in practice.Judging by the list of stocks making 12-month highs over the past week, those who favoured real assets were on the money.Standing tall are 3i Infrastructure (3IN), AEW UK REIT...

Support services firm Serco (SRP) gained 1.6% to 135.9p as it stuck with its 2021 forecasts and issued 2022 guidance in line with analysts' consensus estimates.The company updated the market ahead of a capital markets day at which it will outline expectations to deliver revenue growth of 4% to 6% from 2022 onwards, improve its margins by as much as 1% to 6% and convert at least 80% of its...

UK stocks dropped in early trading after a selloff in overseas markets following the first case of the Omicron variant in the U.S. and a warning from technology firm Apple that demand for its latest iPhone had weakened.Meanwhile, investors were also watching energy prices ahead of an meeting of OPEC+ oil producers, which it is hoped will lead to an increase in supplies after the U.S. and...