New Edinburgh manager after Woodford exit January 28, 2014 DISTINGUISHED fund manager Neil Woodford will officially be replaced as lead portfolio manager at Edinburgh Investment Trust (EIT) by Invesco Perpetual’s Mark Barnett. Woodford’s departure from the trust was announced in October last year, but his replacement was only revealed yesterday, after a decision by the board to retain Invesco’s management. Shares in the trust [...]
Best of the Brokers for 24 September 2013 September 23, 2013 GULF KEYSTONE Canaccord Genuity retains its “hold” rating for Gulf Keystone but has raised its target price to 216p from 210p. The analyst says extra funding will be needed for production growth at the Shaikan field. HOCHSCHILD MINING UBS has retained a “neutral” rating for Hochschild Mining but increased its price target from 215p to [...]
Inside Track: More than one elephant in the Royal Mail sorting room September 25, 2013 IT’S NOT hard to identify the biggest of the elephantine threats to Royal Mail’s imminent stock market listing, which heralds the most contentious privatisation since the 1980s. With unions poised to ballot members over the prospect of industrial action within weeks, the prospect of a multi-day walkout at the precise time that the company’s shares [...]
…as Invesco reshuffles its equity team with promotion of veteran October 15, 2013 THE MAN filling Neil Woodford’s shoes following his departure from UK fund manager Invesco Perpetual will be Mark Barnett, a 17-year veteran of the company. Barnett will take over Woodford’s High Income and Income funds when the seasoned manager departs the company in April next year. Barnett currently runs the UK Strategic Income Fund, which [...]
City Moves for 11 November 2013 | Who’s switching jobs November 10, 2013 Deutsche Bank The bank has announced the hire of Kim Hammonds as chief information officer and global co-head of group technology and operations. She was most recently at Boeing, where she was chief information officer. Prior to that, she held various roles at Dell and Ford Motor Company. Friends Life The assurance company has recruited [...]
Best of the brokers for 9 August 2013 August 8, 2013 CARILLION Morgan Stanley has started covering the support services group with an “equal-weight” rating and a target price of 345p. The broker sees solid momentum in the firm’s order book, in spite of uncertainty around the value of the government’s Green Deal. LANCASHIRE UBS has cut the insurer from “buy” to “neutral” and lowered its [...]
London Report: Drop in inflation unlikely to help consumers long September 15, 2013 CONSUMERS are likely to receive a small piece of good news this week, with the inflation rate edging down for August. But the upbeat data is likely to come before more rising prices, as analysts predict consumer price inflation will reach three per cent soon. The inflation news, out tomorrow, is part of a slew [...]
Shareholder Spring did not go away but activist investors are evolving August 18, 2013 PROXY season is more or less over, and boards are bulging with new members or otherwise breathing a sigh of relief. Last year’s Shareholder Spring saw activism make a big impression on British investors, but this year many assume the surge has receded. Beyond headline-grabbing revolts over director pay, however, activist investors are still playing [...]
Investment Comment: Taking Aim with your Isa investments August 6, 2013 AT THE beginning of this week, the government removed an unpopular restriction on Individual Savings Accounts (Isas). Now, for the first time, investors with the confidence to select individual shares for their stocks and shares Isa are able to invest in companies listed on the junior Alternative Investment Market (Aim). Preventing investors from putting Aim [...]
Gulf Keystone secures £170m funding for Iraq oil exploration October 4, 2012 LONDON-listed Gulf Keystone Petroleum is to raise $275m (£170.5m) worth of funding through convertible bonds to expand its operations in the Kurdistan region of Iraq. The bonds, which mature in 2017, will pay 6.25 per cent a year, and the proceeds will primarily be used to fund the development of the oil and gas exploration [...]