Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
What you need to know before the US open May 7, 2014 US stocks have inched down ahead of Janet Yellen’s testimony to Congress this afternoon. Investors will be listening in carefully, looking for indications on how the Fed’s interpreting April’s economic data. Yellen’s expected to stick to the dovish rhetoric we’ve been hearing when it comes to policy, but more information will be wanted when it [...]
Inside Track: TSB and Saga lead the way in a retail investor return May 1, 2014 SO AT last there’s some cheer for the retail investor, whose presence in the new issues market has recently been all but forgotten by those in charge of floating companies on the London market. Much of the euphoria surrounding the retail stampede for shares in Royal Mail, which was supposed to herald a new beginning [...]
Saga puts retail investor at heart of London float April 30, 2014 SAGA, the over-50s holidays-to-insurance provider, yesterday unveiled plans for the biggest flotation in London this year, as a stampede of silver haired savers registered to snap up shares in the listing. The business, which was founded by east end hotelier Sidney De Haan in 1950, said it would raise £550m in an initial public offering [...]
Saga confirms £550m IPO plans April 30, 2014 Over 50s travel specialist Saga has confirmed this morning that it’s planning to go ahead and float on the London Stock Exchange. The firm, which also sells insurance and has 2.1m customers, joins a growing line of other companies going to market. It’s said it’s looking to raise net proceeds of £550m through its initial [...]
What you need to know before the open April 30, 2014 A slightly lower open is expected in Europe this morning, as earnings results continue to come in and investors look to economic data from both sides of the Atlantic. Growth data from the US could well show a weaker number after the freezing winter, and after that we’ve for the Federal Reserve’s rate decision. A [...]
Saga ready for £3bn flotation April 29, 2014 INSURER Saga is expected to unveil its plans to list on the London stock market as soon as this morning, with the firm due to join the market’s insurance sector rather than the leisure portion of the exchange. Concerns had been raised it would seek to be classified as a leisure business to get a [...]
Cenkos set for bumper payday from the AA’s float ambition April 28, 2014 A GROUP of 10 institutional investors have been brought together by Cenkos, the mid-tier broker and investment house, to support an imminent flotation of AA, the road assistance firm, in another major share issue for the London market. The deal, which could be revealed as early as this week, City A.M. understands, would be a [...]
Angry Birds in a flap as Rovio’s profits tumble April 28, 2014 FINNISH game developer Rovio, creator of the hit Angry Birds mobile gaming phenomenon, saw its profits halved last year as sales of its mobile games stalled. Despite Rovio expanding its reach into television, with an Angry Birds animated TV series, and the launch of a range of toys and clothing, the company’s profits fell to [...]
Cenkos set for bumper payday from AA flotation April 28, 2014 A group of 10 institutional investors have been brought together by Cenkos, the mid-tier broker and investment house, to support an imminent flotation of AA, the road assistance specialist, in another giant new issue for the London market. The deal, which could be announced as early as this week, City A.M. understands, would mark a [...]
Inside Track: Three reasons why the new issues market is struggling April 24, 2014 AS ADVISERS to Saga put the final touches to the largest flotation so far this year in the London new issues market, it is an opportune time to look at where we stand. Few could deny that the London new issues market, so dormant a couple of years ago, has come back to life. Since [...]