Investec sells private banking arm to manager-led consortium February 4, 2014 SALAMANCA Group yesterday bought out Investec Trust, along with the Trust’s managers. The private banking unit has £4.5bn in assets under management, and its sale reflects the widespread trend for banks to sell of the management arms. The unit has been rebranded Salamanca Group Trust and Fiduciary, and will continue to be run by Xavier [...]
Balfour Beatty may shut Blackpool International Airport October 6, 2014 Balfour Beatty may be forced to shut Blackpool International Airport if it cannot find a buyer for the asset. The construction firm has been seeking a buyer for the airport since August, and the deadline for its decision is today. Andrew Gibbs, analyst at Investec, told City A.M.: “Blackpool has always been an issue, it’s always [...]
Best of the Brokers for 11 September 2014 September 10, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ROYAL BANK OF SCOTLAND Investec has upgraded to “hold” from “sell”, and raised the target price to 355p from 340p. Investec expects a no vote in the Scottish referendum to ease recent share underperformance, and continues to expect a gradual recovery across RBS’s [...]
Best of the Brokers for 08 September 2014 September 7, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BP Investec has kept its “Hold” rating, but cut the target price to 440p from 460p. Investec thinks the market has moved quickly to factor in the likelihood of higher than expected fines as a result of the recent Deepwater Horizon ruling, but [...]
Electra on hook for up to £3m to defeat Ed Bramson raid October 6, 2014 Electra will face a bill of up to £3m after facing down corporate raider Ed Bramson’s bid to wrest control of the fund yesterday. Roger Yates, Electra chairman, said the long running battle would cost the group between £2m and £3m in banking and legal fees. “I don’t think the way in which [...]
More money in your pocket: Tumbling oil prices, £1 a litre petrol, supermarket price wars and mortgage provider competition January 12, 2015 Britons should be able to loosen their purse strings further this year, with tumbling oil prices, a supermarket price war and intense competition between mortgage providers forcing down the average cost of living. Supermarket chains Morrisons and Sainsbury’s – which together operate over 600 petrol stations – will both cut the price of unleaded petrol [...]
Interest rates: Bank of England keeps base rate at 0.5 per cent October 9, 2014 The pound has risen against the dollar today, after the Bank of England confirmed the base rate would stay at 0.5 per cent. The Old Lady of Threadneedle Street threw no surprises into the mix today, with the monetary policy committee (MPC) voting to keep the interest rate where it has been since March 2009. [...]
Bottoms up: Fever-Tree share price fizzes in first day of trading November 7, 2014 Doubles all round at posh tonic water maker Fever-Tree: shares in the company started trading on Aim this morning, jumping as high at 172p within minutes of the market opening, before settling back to 168.5p. Shares were priced at 134p when it listed a 60 per cent stake under the ticker "FEVR", which raised £93.3m, [...]
Analyst Views: What did you make of BSkyb’s first quarter financial results? October 16, 2014 STEVE LIECHTI | INVESTEC First quarter figures are good, with better profit growth than we expected and confident overall trading comment. We remain neutral/mildly negative given competitive pressures in UK pay TV and some uncertainty over how the new Sky Europe plays out, particularly in Italy. PAUL RICHARDS | NUMIS The operational highlight was the [...]
MPC to publish rate verdict but no change seen – London Report October 5, 2014 THE MONETARY Policy Committee (MPC) will announce its latest interest rate decision on Thursday, but Investec does not expect any change from the current 0.5 per cent and quantitative easing target at £375bn. September’s Royal Institute of Chartered Surveyors (RICS) monthly housing data will also be updated on Thursday, after house prices grew at their [...]