Banks give FTSE a boost as pre-Christmas rally continues December 22, 2010 BRITAIN’S leading share index pushed higher yesterday, supported by gains from banks as reports China is ready to buy Portuguese bonds eased European debt concerns. At the close, the FTSE 100 was up 31.69 points, or 0.5 per cent, at 5,983.49, edging ever closer towards the 6,000 level last seen in June 2008. The blue [...]
BEST OF THE BROKERS November 2, 2010 MEARS Altium rates the housing repair firm a “hold” with a target price of 270p. The broker has downgraded its 2010 pre-tax profit forecasts by £0.6m, or two per cent, due to costs linked to small contract wins in the wake of Connaught’s collapse. The firm’s social housing pipeline has slipped slightly to £2.8bn, however, [...]
Goldman in running for RBS loans October 3, 2010 AT LEAST three potential bidders are casting an eye over a £3bn portfolio of property loans that will soon be offloaded by Royal Bank of Scotland (RBS). Goldman Sachs is a shock contender for the loans, alongside distressed debt specialist Lone Star and private equity firm Blackstone. Lazard is advising RBS on the sale of [...]
FTSE 100 surges on gains by commodities and financials December 2, 2010 BANKS and commodity stocks powered strong gains for Britain’s top share index by close yesterday, on increasing optimism about the global economy and investor confidence that the Eurozone debt crisis would be contained. The FTSE 100 index ended up 125.06 points, or 2.2 per cent, at 5,767.56, a second straight session of strong gains. It [...]
RBS appoints sale advisers October 28, 2010 GOLDMAN Sachs and Morgan Stanley will decide the fate of Royal Bank of Scotland-owned (RBS) Churchill, Direct Line and Green Flag. RBS has been ordered to sell the insurance arm as part of the fallout of the financial crisis, which saw the government take an 83 per cent stake in the bank. Yesterday RBS announced [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]
More jobs go at Rok, says PwC November 16, 2010 THE ADMINISTRATORS for housing repair firm Rok made a further 1,800 people redundant yesterday, after it failed to find an interested buyer for large parts of the business. A total of 2,600 staff, around three quarters of Rok’s total staff, have now lost their jobs, with administrator PwC still in last-ditch talks with rivals to [...]
Santander to press on with UK IPO plans November 5, 2010 Spanish lender Banco Santander will go ahead with plans to list its British unit, which grew during the global financial crisis chiefly through acquisitions, chairman Emilio Botin said yesterday. A tentative timetable for the share sale could be during the first half of 2011, Botin said at a news conference in Sao Paulo. The largest [...]
The City’s top headhunter on why firms still need to recruit the best February 6, 2011 PERHAPS not surprisingly, Odgers Berndtson’s boss was in an upbeat mood when City A.M. visited him recently in his large office overlooking Hanover Square in the West End. Last year’s preliminary revenues had just come in: they are an improvement on the year before, always welcome news in the present environment. Richard Boggis-Rolfe, the privately-held [...]