Breaking News
Investing Pro 0
New Year’s SALE: Up to 40% OFF InvestingPro+ CLAIM OFFER

Sector Vultures Circle Carillion Carrion

By Spreadex (Connor Campbell)Stock MarketsJan 15, 2018 11:32
uk.investing.com/analysis/sector-vultures-circle-carillion-carrion-200199293
Sector Vultures Circle Carillion Carrion
By Spreadex (Connor Campbell)   |  Jan 15, 2018 11:32
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
EUR/USD
0.00%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
GBP/USD
-0.06%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EUR/GBP
+0.02%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UK100
+0.05%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DE40
+0.11%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BALF
+0.87%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Midday Market Comment

Carillion’s (LON:CLLN) collapse continued to dominate what would have otherwise been a very quiet start to the trading week.

Much of the morning has seen Carillion’s peers and partners let investors know whether or not they’ll be hurt by the company’s liquidation. Balfour Beatty (LON:BALF) – which has 3 joint ventures with Carillion, including the M60 Junction 8 to M62 Junction 20 scheme – revealed it would be hit by up to £45 million, an announcement that unsurprisingly led the stock 2.6%.

Galliford Try (LON:GFRD), meanwhile, fell nearly 3% as it stated that Carillion’s outstanding additional cash contribution to the Aberdeen Western Peripheral Route contract – a scheme that also involves Balfour Beatty – is between £60 million and £80 million, to be ‘funded equally by the joint venture members’.

As for Kier Group (LON:KIE), it nudged around 1% higher as it argued the implementation of its contingency plans for the High Speed 2 and smart motorways projects it shares with Carillion will mean it avoids any ‘adverse financial impact’.

Of course there were plenty of vultures in the sector circling the Carillion carrion. Serco Group (LON:SRP), which bought £47.7 million in healthcare contracts from the crisis-hit company back in December, jumped 4.5%, while Capita (LON:CPI) climbed 1% and Interserve (LON:IRV) rose 2.6%.

The understandably gloomy tone helped keep the FTSE from matching last week’s all-time highs, the index slipping under 7770 after falling 0.2%. Contributing to that decline will be sterling’s gains against the beleaguered dollar, with cable rising 0.3% to tickle $1.38 for the first time since the immediate aftermath of the Brexit referendum back in June 2016.

The pound wasn’t so successful against the euro, which is continuing to stomp all over its forex competition. Against sterling it rose 0.4%, while against the dollar it rocketed 0.7% higher to a fresh 3 year peak. This prevented the DAX from gaining any traction, with the German index straining to keep above 13200 following a 0.2% slide.

Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.

In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved. In relation to fixed odds, Spreadex Ltd is licensed and regulated by the Gambling Commission under licence number.

Original post

Sector Vultures Circle Carillion Carrion
 

Related Articles

Sector Vultures Circle Carillion Carrion

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email