Can O’Brien do it again at world’s greatest flat race? June 7, 2014 RUPERT TREVELYAN EPSOM MANAGING DIRECTOR THE Investec Derby Festival is about celebrating sporting prowess at the unique and attractive venue of Epsom Downs Racecourse. Winners of the two Classic races, the Investec Derby and the Investec Oaks, are acclaimed and admired around the world as racing has become more and more international. The Investec Derby, [...]
Boohoo share price soars after reporting accelerating sales growth September 12, 2014 Boohoo's share price soared six per cent this morning after revealing revenues will be up nearly a third for its first half. The etailer, which went public in March, is expecting revenues to rise 31 per cent to £67m for the six months to August 31, it said in a trading update this morning, [...]
Best of the Brokers for 22 August 2014 August 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BOVIS HOMES UBS has kept its “buy” rating, raising the target price to 1,000p from 965p. The broker notes Bovis is gearing up for material volume growth, aiming to reach 5,000 to 6,000 units over the five years or so, almost double the [...]
London listing to raise $2.1bn for AngloGold September 10, 2014 SOUTH African mining giant AngloGold Ashanti yesterday announced plans to raise $2.1bn (£1.3bn) in a rights issue and spin its international assets into a new London-listed company. The Johannesburg-based mining firm, created by a merger between AngloGold and Ashanti in 2004, revealed it would focus on its core South African operations after the asset spin [...]
Best of the Brokers for 21 August 2014 August 20, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DEBENHAMS Cantor Fitzgerald has raised its rating to “hold” from “sell”, but cut the target price to 65p from 70p. The broker still has concerns on the balance sheet and need to invest in the store portfolio, but thinks it will benefit from [...]
888 Holdings share price rises after it forecasts strong growth in earnings July 9, 2014 888 Holdings, operator of online gambling websites, enjoyed a near-four per cent rise in its shares to 125p yesterday, after it said it expects earnings to have risen strongly in the first half of the year. The London-listed company, based in Gibraltar, said it expects half-year earnings to be “significantly ahead” of last year’s $38.6m [...]
Sluggish wage growth gives Bank of England a tough choice over interest rates October 15, 2014 Unemployment rate: down. Wages: up a tiny bit. How does this affect the Bank of England's plans for interest rates? At six per cent, according to the Office of National Statistics (ONS), the unemployment rate is looking healthier by the month. It’s comparable to the US rate (5.9 per cent) and far lower [...]
RBS share price “going down, going down, going down” says analyst June 12, 2014 Despite a 16 per cent rise in the share price of state-backed bank RBS over the past six weeks, one analyst is less than confident that the performance will be sustained. Investec's Ian Gordon writes that "the share price (once again) reflects a triumph of hope over reality and should duly correct". Investec has downgraded [...]
Best of the Brokers for 19 August 2014 August 18, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ARM HOLDINGS Goldman Sachs has added ARM to its “conviction buy” list, with a target price of 1,400p. The broker thinks first half weakness is temporary rather than structural, and anticipates a better second half, with high end smartphone launches incorporating ARM designs [...]
Dixons Carphone share price falls on first day of trading after £3.6bn merger August 8, 2014 Shares in Dixons Carphone rose yesterday morning only to close down 1.8 per cent in their first formal day of trading since Carphone Warehouse and Dixons Retail merged to create a £3.6bn consumer electronics empire. The FTSE 250 company aims to exploit the ever-growing presence of consumer electronics in people’s lives and the so-called [...]