Serco counters Lloyds loss to lift up FTSE 100

By Rachel Cooper, City Reporter (Markets) Published: 6:20PM GMT twenty-six February 2010

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But, the large-caps did conduct to pitch behind in to certain territory, with the FTSE 100 finale the week up 76.3 points to 5354.52 following clever showings from mining shares and Serco, the await services group, that rose 32 to 553p.

The company, that runs services as different as tugboats for the Royal Navy, prisons in Australia and pathology services at Guy"s and St Thomas"s Hospital, appearance after posting a 30pc enlarge in increase and likely serve expansion as governments outsource some-more services.

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Cazenove gave the association an "outperform" rating and a aim cost of 523p, observant Serco had put out a "good set of results" with earnings-per-share improved than forecast.

After a resigned couple of days, mining shares were behind on the climb after copper, nickel and zinc all rose in London on the behind of a weaker dollar and expectations of increasing direct from China.

Anglo American, Rio Tinto and Vedanta Resources rose 83p to �23.90, 113p to �33.64 and 84p to �25.48 respectively.

GlaxoSmithKline (GSK) and AstraZeneca were in concentration after Goldman Sachs upped both to "neutral". Analysts pronounced they were upgrading AstraZeneca since the shares" new under-performance, adding: "We hold that the not long ago voiced restructuring programme and long-term highway map have supposing some-more distinctness on the management"s expectations for 2010 to 2014." AstraZeneca ticked up 73p to �28.83 whilst GSK rose 10p to �12.14.

Rolls-Royce climbed nineteen to 558p after announcing it is to enhance the range of services it offers to the oil industry by shopping up the 67pc of Norwegian company, Odim ASA, that it does not already own. The engine builder will compensate out 1.4bn Norwegian crowns (�153m) for the rest of the company, that creates sea doing systems.

But slipping behind on Friday was Lloyds Banking Group, that dipped 2.4 to 52p after posting waste of �6.3bn.

In the ennui as well was Royal Bank of Scotland, swapping Thursday"s highs for a slip of 0.71 to 37.67p. Exane BNP Paribas on Friday downgraded the partly-nationalised bank to "underperform" from "neutral", giving it a aim cost of 40p.

Real estate investment trusts were additionally on the loserboard on Friday as an air of mercantile doubt lingered. Hammerson fell 3.3 to 383p, British Land finished down 4.6 at 440p, Segro gave up 2.4 to 318.7p whilst Land Securities Group slipped to 632p.

Segro additionally suffered as a outcome of Nomura obscure the aim cost to 342p from 379p and maintaining a "neutral" rating.

But a consult from the Nationwide Building Society, that suggested that residence prices fell for the the initial time in 10 months in February, did not hold Rightmove, that led the second-liners, charging up 37 to 635p after investors were tender by the skill website"s full-year results.

Overall, the FTSE 250 rose 117.45 to 9344.39, but shifting was Colt Telecom, that dipped 3 to 133p, following a slight drop in income and a discreet outlook.

The greatest crook of the day, however, was Regus, the bureau space provider, that forsaken behind 2 to 83.7p.