Banks lead FTSE to a rebound in spite of jitters over the Eurozone April 11, 2012 BRITAIN’S top share index rebounded from a three-session slide yesterday as a rise in banking stocks following a positive broker comment and gains in mining shares boosted the index. The FTSE 100 index closed up 39.19 points, or 0.7 per cent at 5,634.74, reversing a downward spiral when the index surrendered almost all its remaining [...]
CITY MOVES | WHO’S SWITCHING JOBS February 28, 2012 Houlihan Lokey Stephen Winningham has joined the international investment bank as managing director, and co-head of European corporate finance in the firm’s London office. Winningham was until recently head of major corporates at Lloyds Banking Group, overseeing the group’s coverage of UK and US investment grade corporate clients. Prior to this, he was global head [...]
LLOYD’S WEIGHS RISK OF OFFSHORE GAMBLE February 9, 2012 LLOYD’S of London is moving offshore, as The Capitalist hears the insurance group has entered a team in one of the world’s most competitive yacht races – a two-day zigzag around 11 Caribbean islands that is a magnet for seafaring captains of industry. First to arrive in the Caribbean was Marshall Bailey, the COO of [...]
Amlin and Beazley both bullish despite disasters February 7, 2012 A STRING of disasters across the world have dented profits at many insurers – but Beazley and Amlin yesterday looked upbeat about their positions. Amlin, the biggest listed insurer operating in the Lloyd’s of London market, said it was able to increase revenue during January, largely due to strong demand for catastrophe reinsurance. The firm [...]
Lloyd’s insurer Novae eyes £420m Omega merger May 31, 2011 Lloyd’s of London insurer Novae is examining a merger with rival Omega, in a deal which could create an enlarged group with a combined market capitalisation of some £420m. “In accordance with the group’s publicly stated strategy, Novae routinely reviews possible transactions and confirms that it is currently undertaking due diligence in evaluating the merits [...]
FTSE buoyed by miners and banks March 8, 2012 The FTSE 100 pushed higher this morning as investors gained confidence in Greece’s chances of completing a lifesaving bond swap later today. Major banks and pension funds, representing about 40 per cent of Greece’s outstanding debt, threw their weight behind Athens’ bond swap offer to private creditors yesterday. That should be eno€130bn fund for Greece [...]
Argentina to sue UK oil groups March 15, 2012 ARGENTINA has given its sternest warning yet that British oil explorers in the Falklands are no longer welcome in what it claims as its sovereign territory – but the UK government says it will back companies’ right to drill. Argentine foreign minister Hector Timerman (pictured) called the activities “illegal” and “illegitimate” at a news conference yesterday. [...]
FTSE sees banks up as Greece is saved March 2, 2012 The FTSE 100 was flat this morning and the only significant gainers were banks buoyed by further steps towards saving Greece from the financial abyss. In Wall Street and in Asia nudged up overnight as the European Central Bank’s fresh liquidity injection this week served to warm up investor sentiment. The spotlight is on the [...]
Banks can trip in search of a rise up the table February 20, 2012 INVESTMENT bankers are pleased with any pickings these days and in the past few weeks there has been healthy signs of action in the world of block trades. This is a phenomenon whereby a bank offers to buy a block of shares in one company and sell it on. The idea is that, hopefully, the [...]
CITY MOVES | WHO’S SWITCHING JOBS March 19, 2012 Patron Capital The pan-European institutional investor has appointed Mark Collins as chairman of its UK investment division, as it looks to invest over £1bn in the UK market over the next year. Collins will also become a partner of Patron Capital Advisers, the investment adviser to Patron’s funds. Collins was formerly managing director of the [...]