Morse shares rise on financial sector deal rumours
09 January 2004 | 3323 views | 0
Shares in UK IT systems house Morse have reached a new yearly high of 161 pence amid rumours that the firm has secured a number of significant financial sector contracts.
Morse shares began their ascent yesterday, rising by ten pence to close the day at 155 pence. The rise in price was noted by the UK broadsheet The Guardian, which cited City talk of a number of singificant deals in the financial services sector.
Despite posting a nine per cent drop in revenues from financial services in its last annual report, systems integrator Morse is expected to be a beneficiary of a growing trend for IT infrastructure overhaul and management at cost-conscious financial institutions.
The firm has yet to issue a statement.