Premier Technical Services Group IPO: Electrical safety firm raises cash for £45m listing February 9, 2015 A leading electrical safety firm responsible for working on the King’s Cross redevelopment has raised £8m by floating on London’s junior stock market. West Yorkshire-based Premier Technical Services Group (PTSG) is set to start trading on the alternative investment market tomorrow after raising new funds and selling existing shares to outside investors in an offer [...]
Investec profits up as bad debts melt away in Britain’s recovery March 20, 2014 BRITISH and South African bank Investec expects operating profits to leap 28 per cent this financial year, as the recovery takes hold. The specialist lender’s revenues will rise by around 15 per cent when it unveils its results in May, while impairments will drop by around 35 per cent. The fall in bad loans means the [...]
Euro falls to two-year low on disappointing ECB speech November 6, 2014 The euro fell to its lowest level against the dollar in two years today after much-anticipated comments by European Central Bank (ECB) chief Mario Draghi disappointed markets. The currency dipped below $1.24 and fell to £1.27, before rallying slightly. Although European stocks spiked immediately after the speech, Germany's Dax closed down 0.92 per cent, while [...]
Best of the Brokers for 03 October 2014 October 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com SAINSBURY Nomura has maintained its “neutral” rating, but cut the target price to 270p from 305p. Nomura remains of the theory that Sainsbury is seeing some relative slowdown, and may now be an underperformer compared to sector rivals, as Asda strengthens and Morrison [...]
City Moves for 13 January 2015 | Who’s switching jobs January 12, 2015 Grosvenor Fund Management The investment firm has appointed Gaston Brandes as director of capital markets, Europe. He joins from UBS Global Asset Management, where he was executive director of global real estate business development. Brandes has also held roles at Franklin Templeton Investment Services. Brown Rudnick The law firm has appointed Moris Mashali as partner [...]
City Moves for 08 January 2015 | Who’s switching jobs January 7, 2015 Investec The bank’s corporate and institutional banking division has announced the appointment of Florian von Hartig as head of debt capital markets. He joins after nine years at Standard Bank, where he was global head of debt primary markets. JLL UK The real estate-focused professional services and investment management firm has appointed two new sustainability [...]
Cricket Comment: England ought to pick Tredwell and Bopara instead of Finn and Ballance February 18, 2015 THERE weren’t a huge amount of positives to take from World Cup defeat to Australia last Saturday. Hopefully the main one will be the realisation that the tactics at the death were wrong and there was too much short bowling. England undoubtedly have some good bowlers but, as I wrote last week, that bowling attack [...]
City Moves for 06 January 2015 | Who’s switching jobs January 5, 2015 Stanhope Capital The investment office has announced the appointment of Charles Mesquita as a senior director in its charity team. He has over 25 years’ investment experience, and has previously held positions at Newton Investment Management and Rensburg Sheppards (now Investec). Simmons & Simmons Matthew Pitman has been promoted to partner at the law firm. Based [...]
Former Quindell chair slashes his share holdings December 10, 2014 SHARES of embattled insurance outsourcer Quindell lost over a quarter of their value yesterday after founder and former chairman Rob Terry sold off most of his remaining stock. Since April, when mysterious US short seller Gotham City Research published a note questioning its business and profits, shares in the company have lost more than 80 [...]
Marks and Spencer likely to join Next and Tesco in slump as like-for-like sales decline November 3, 2014 The slump in British retail is set to hit Marks and Spencer hard this week, after poor financial results from rival Next and supermarket Tesco. Weak sales figures will pile increasing pressure on chief executive Marc Bolland – like-for-like sales have already fallen for the past 13 quarters, despite the growing economic recovery. The consensus [...]