New bidder enters race for AssetCo May 31, 2011 A THIRD bidder is circling troubled London fire engine supplier AssetCo in addition to the two already named, City A.M. has learned. Manchester-based turnaround and investment house Consilia Partners is currently meeting AssetCo’s shareholders as it prepares to make a bid. Consilia enters the bidding alongside Bahraini fund Arcapita and Italian investor Investindustrial, both of [...]
Focus on wealth management pays off May 19, 2011 AT first glance, Investec has missed forecasts with full-year operating profit of £434m: analysts had been hoping for something nearer the £450m mark. But the South African bank and wealth manager still gained the most in two-months during trading yesterday. A candidate for demotion from the FTSE100, thanks to the entry of mining giant Glencore, [...]
FlyBe becomes latest victim of curse of the London floats May 5, 2011 REGIONAL airline group FlyBe yesterday saw its shares fall more than 20 per cent after scaling back guidance for its 2012 profits. The airline, which raised £60m at the end of last year for European expansion as part of its London flotation, said it had been hit by “an extremely challenging macro-economic backdrop” in its [...]
FlyBe becomes latest victim of curse of the London floats May 5, 2011 REGIONAL airline group FlyBe yesterday saw its shares fall more than 20 per cent after scaling back guidance for its 2012 profits. The airline, which raised £60m at the end of last year for European expansion as part of its London flotation, said it had been hit by “an extremely challenging macro-economic backdrop” in its [...]
Why the legendary Lester Piggott is pinning his hopes on Carlton House June 3, 2011 EPSOM is a unique racecourse where jockeys can encounter more traffic problems than you will find during the rush hour on the M25, but one man who never had any trouble finding his way around the historic Surrey Downs was Lester Piggott, hero of a record nine Derby victories between 1954 and 1983. Lester, though [...]
BEST OF THE BROKERS April 10, 2011 PREMIER FOODS Investec rates the food maker “hold” with a target price of 35p. The broker believes Premier has made itself investable again following a balance sheet restructure, although the stock is seen as a long-term play due to short-term trading headwinds that will make it difficult for the firm to meet its cash generation [...]
Strong miners propel FTSE to a one-week closing high May 10, 2011 THE FTSE 100 share index hit a one-week closing high yesterday after bumper Chinese trade data boosted miners, although analysts said sentiment could be soured if Beijing opts to tighten its monetary policy. China’s April consumer price inflation index, due today, is expected to have dipped from March’s 32-month high of 5.4 per cent to [...]
CARLTON HOUSE GETS GREEN LIGHT June 3, 2011 BUT KIEREN FALLON STILL SWEATING ON LATE COURT DECISION Carlton House, the horse bidding to give the Queen her very first Derby winner, was last night finally given the green light to line-up on Epsom Downs this afternoon. The favourite for the world’s premier horse race has reportedly fully recovered from an injury he picked [...]
CARLTON HOUSE GETS GREEN LIGHT June 3, 2011 BUT KIEREN FALLON STILL SWEATING ON LATE COURT DECISION Carlton House, the horse bidding to give the Queen her very first Derby winner, was last night finally given the green light to line-up on Epsom Downs this afternoon. The favourite for the world’s premier horse race has reportedly fully recovered from an injury he picked [...]
UK shares recover from shock of poor US data June 3, 2011 Britain’s top share index, bruised by concerns over the global economy in the previous two sessions, rebounded from lows following poor US jobs numbers yesterday to close marginally higher. US non-farm payrolls increased by 54,000 in May, the weakest reading since September, while the jobless rate rose to 9.1 per cent. Economists had expected payrolls [...]