Final quarter exceeds guidanceOperating profit up sharplyFurther £50 million buybackFacilities management and business service firm Mitie Group (MTO) surprised the market with stronger-than-expected fourth-quarter results and a fresh £50 million share buyback.The shares climbed 6p or 5.5% to a new five-year high of 117.5p on above-average trading volume. STRONG DEMAND FOR SERVICESIn its t

London?s FTSE 100, the outperformer on Friday as investors fretted over a possible escalation in the Middle East, was the laggard on Monday in the wake of Iran?s strikes on Israel over the weekend, as the blue-chip index?s oil majors tracked crude prices lower.Large-cap benchmarks in Frankfurt and Paris, which fell on Friday, were on the up on Monday. Stocks in New York tumbled at the end of last

Mitie (MTO) 105pMarket cap: £1.4 billionFounded in 1987, Mitie Group (MTO) is the UK?s largest facilities management company looking after two and a half million assets for more than 3,000 customers.The firm takes care of buildings from banks to retailers, schools, hospitals and critical government sites, as well as the people who work in them, helping make them safer, more efficient and greener.

Outsourcing firm?s interim profit up 24%Shares within touching distance of new highsRaised full-year guidance confirmedFTSE 250 facilities management and energy services company Mitie Group (MTO) demonstrated it is the ?comeback kid? with another strong set of results and the reaffirmation of its recently-raised full-year profit target.The shares added 2p or just under 2% to 108p, just shy of thei

Babcock CEO offloads shares to meet tax liabilitiesMitie CEO buy signals confidence in firmNatWest CFO Katie Murray and others sell upDavid Lockwood, chief executive of aerospace and defence firm Babcock International (BAB), sold 79,574 shares at 376p on 9 August, netting proceeds of £298,000 to meet tax, national insurance contributions, dealing costs and 'retention of the balance of shares.'Loc

- Earnings helped by Covid-related contracts- Underlying business performing ahead of expectations- Solid balance sheet means acquisitions are back on the agendaShares in outsourcing firm Mitie (MTO) jumped as much as 12% to 69p in early trading after the firm posted forecast-beating results and the chief executive claimed the business had turned the corner.While revenues and profits were flattere

The UK's Competition and Markets Authority is investigating facilities management firm Mitie (MTO) over bids for services contracts at immigration centres in Heathrow and Derwentside, in County Durham.The watchdog launched its probe on 1 March 2022 over concerns there may have been breaches of competition law in relation to an ongoing process run by the UK Government to procure services at the two

After initially receiving garlands from the market with a rising share price, investors quickly became more circumspect on hygiene services and pest control firm Rentokil's (RTO) $6.7 billion deal for US rival Terminix.While the strategic logic of the deal is clear, creating a global market leader with a particularly strong footprint in the US and with annual cost synergies of $150 million identif

FTSE closed lower on Friday as worries over spiking energy costs added to concerns about the slowing pace of recovery. However, the index of leading shares managed its first weekly gain since mid-August.COMPANY ROUND-UPDrug maker AstraZeneca (AZN) said its prostate cancer drug in combination with abiraterone developed with MSD, had met the primary goal of a phase 3 trial. Its shares advanced 2% to

A combination of weak UK consumer confidence, renewed fears about the Evergrande crisis and fretting about the outlook for interest rates put the FTSE 100 on the back foot on Friday.By midday the index was down 0.15% to 7,067.88.Drug maker AstraZeneca (AZN) said its prostate cancer drug in combination with abiraterone developed with MSD, had met the primary goal of a phase 3 trial trial. It shares

The start of the new school year is traditionally the time that offices, which languished half empty over the long summer holidays, are suddenly bustling with life. Lunch dates are made, career catch ups scheduled and goals recalibrated. Covid threw everything up in the air and everybody's watching to see where the pieces will eventually settle.As of 19 July, the Government's work from home guidan

After a strong start opening on the back of gains in Asian markets and bid stories, the FTSE 100 index trod water for most of the day to close 21 points or 0.3% higher at 7,109 points. Gains in consumer and mining stocks were offset by losses for healthcare and utility names.One stock which managed to extend its morning gains was supermarket group Sainsbury (SBRY), which finished up 15% to 340p ha

After a strong start to the week on the back of gains in Asian market, the FTSE 100 index ebbed back on Monday lunchtime to sit 20 points or 0.3% higher at 7,109 points. Gains in consumer and mining stocks were offset by losses for healthcare and utility names.One stock consolidating on its morning gains was supermarket group Sainsbury (SBRY), which gained 15% to 340p having opened up around 10% a

Major UK stock made a strong start to the new trading week, taking its cue from Asia's main markets. At 8:50 UK time, the benchmark FTSE 100 was trading higher by 0.3% at 7,108.45. The midcap FTSE 250 was 0.2% higher at 23,798.23.Top riser early on was Sainsbury (SBRY), jumping more than 10% to 325p after weekend reports it is in the cross-hairs of private equity. This as the battle continues for

The UK's benchmark FTSE 100 continues to be outperformed by midcaps continuing a trend that has been in place for most of 2021.Based on current index levels, the FTSE 250 - often seen a better indicator of the UK's economic health over its FTSE 100 peer - has rallied more than 10% so far this year, outstripping the FTSE 100 by around 10% in relative terms.Extending the timeframe to a year, midcaps

UK stocks just about managed to hold onto gains on Thursday as markets shrugged-off inflation worries despite US core inflation reaching its highest level since 1992 with the core rate reaching 3.8%, well above the Federal Reserve's 2% target.In contrast the European Central Bank kept its foot on the monetary gas by indicating it wanted to increase the rate of asset purchases to fight the threat o

UK stocks were higher on Thursday lunchtime ahead of key US inflation data and a rate decision from the European Central Bank which should provide investors with an update on the speed of economic recovery.Shares in US meme stock GameStop dropped in the pre-market after the company said it planned share offering and revealed that regulators are investigating trading of its stock.At 12pm the UK's b

Shares in formerly unloved facilities management group Mitie (MTO) jumped 8% to a post-pandemic high of 77.4p after the firm posted solid results for the year to the end of March and said the current year would likely be 'materially ahead of prior expectations'.Revenues for the last financial year, including share of joint ventures and associates and the Interserve acquisition, grew 19% to £2.59

UK stocks edged higher in opening trade on Thursday as investors wait for the European Central Bank's policy meeting and US inflation data later in the day for cues on whether global central banks could start tightening monetary policy.The UK's benchmark FTSE 100 index gained 0.18% to 7,093.59, while the midcap FTSE 250 index was down 0.27% to 22,697.95.The relatively subdued start mirrors the per

Another week, another push forward for the UK stock market. We've waited for a long time for this to happen and it's very satisfying to see the FTSE 100 and FTSE 250 finally get some winds in their sails.The key question is whether the rally has legs. Some companies look like they've already priced in a significant amount of potential future growth so that they a) no longer look good value and b)