Analysts at Investec upped their rating for Regus from 'hold' to 'buy' after the office space provider more than doubled its interim pre-tax profit.
Share in Regus jumped over 5% earlier on Tuesday, after the office space provider more than doubled its interim pre-tax profit.
1630 (close): The FTSE 100 closed 35.88 points, or 0.56%, lower 6,367.57. Mining stocks found favour after days of heavy selling as investors looked for a safe haven. Overall, stocks were lower after weaker-than-expected retail sales data for July. Consumer spending was up 0.1% against an expected increase of 0.4%. Sales rose 4.2% year-on-year. Elsewhere, investors were focused on Greece where Prime Minister Alexis Tsipras is set to call a snap election for 20 September, according to Greek media.
Jefferies upgraded Compass Group to 'buy' from 'hold' and lifted the price target to 1,200p from 1,100p.
Investors sold down shares in Regus after an Investec downgrade that highlighted the serviced office company's shares had already priced in most of the good news that could be expected from its interim results next week.
Thomas Cook Group led the risers after Credit Suisse said it sees an attractive risk-reward balance at the tour operator upgrading its rating from 'neutral' to 'outperform'.
Office provider group Regus said it was confident of meeting its full-year targets after trading in the first quarter was in line with expectations.
1630: Stocks ended the session almost flat, down by 0.05 points at 6,898.08. Intu was the worst issue on the Footsie, following a downgrade from Barclays to equalweight. Hargreaves led gains after unveiling a free withdrawal scheme for pensioners. ARM Holdings received a boost to its price target from UBS. For its part, Regus benefited from an upgrade out of Credit Suisse. FTSE 100 down 0.05 points to 6,898.08.
Centamin was in the red after revealing it was pulling out of its joint venture with Alecto Minerals in Ethiopia. Results from its 2014 drilling programme, which included 25 diamond drills holes at Wayu Boda, and the analysis of surface work carried out during the year will be handed to Alecto when complete.
Global workplace provider Regus pleased with reports of a strong third quarter performance, although the company said it continued to experience the affects of the strength of sterling.
Far from slowing down, after opening its 200th office centre in the first half of the year the provider of temporary office accommodation Regus is set to accelerate its expansion. A full 450 new centres are due to open this year and as many next year. The company does have its doubters however, given its ambitious growth plans. As well, the fact that 85% of its sales hail from overseas means that it is exposed to currency fluctuations - hence the flat profits before tax seen in the first six months. Operating margins at its mature offices however rose to 14.4% during the last reporting period, from 10.6%, showing just how profitable its business model can be.
Telecity's shares slumped on Tuesday after announcing the departure of chief executive Michael Tobin who has been with the company for more than 10 years. Tobin will leave in October following a handover period on 31 October. It comes shortly after Eric Hageman was appointed chief financial officer to replace Brian McArthur-Muscroft who left in January.
Regus, the Luxembourg-based provider of office outsourcing services, saw its pre-tax profit for the first half of 2014 fall slightly from £31.1m in the same period in 2013 to £31.0m in the six months ended June 30.
1630: Close London-listed stocks closed today's session on a positive note, with gains being led by Lloyds as investors welcomed a stronger-than-expected rise in house prices and better-than-forecast UK manufacturing data.
James Fisher and Sons, which provides marine services to a range of industries, jumped after giving an upbeat outlook for 2014, saying it expects 'further growth'.
Serviced office provider Regus said the first quarter had been in line with its expectations, driven by its mature properties.
The City is expected to slide lower early on following yesterday's rise as investors gear up for another busy day of corporate earnings and economic data, both from home and abroad.
Admiral Group: Credit Suisse raises target price from 1340p to 1425p and keeps a neutral rating.
Advanced Medical Solutions: Investec ups target price from 97p to 121p and keeps a buy recommendation.
Regus, the FTSE 250-listed office outsourcing services provider, reported a loss for the full year, despite an 'excellent' performance from its mature business.