BEST OF THE BROKERS July 26, 2010 DANA PETROLEUM Evolution Securities has given Dana Petroleum a “sell” recommendation and said that the Korean National Oil Company has tabled a conditional 1,800p offer for full issued and to be issued share capital in Dana. Evo said that the risk for investors could be that if Dana frustrates the Koreans, they could walk away. [...]
BEST OF THE BROKERS July 28, 2010 INFORMA Royal Bank of Scotland (RBS) believes that Informa’s first-half results demonstrated a turning of the cycle –both operationally and from a capital allocation perspective because the firm upped its dividend by 25 per cent. RBS reiterates a “buy” recommendation for Informa and raises its target price to £4.70. WHITBREAD JP Morgan Cazenove retains a [...]
Aberdeen sees dip in assets under management July 26, 2010 BRITISH asset manager Aberdeen has seen a dip in assets under management, it said in a trading update. The fund firm said assets under management stood at £164.7bn in its third quarter, compared with £170.9bn, after it bought Royal Bank of Scotland’s non-core fund assets in January. Over the quarter, the firm attracted net inflows [...]
Top firms in a bid to fill pension gap August 3, 2010 BRITAIN’S top companies doubled the amount they paid into pension schemes in 2009 compared to 2008, according to a report by actuaries Lane Clark & Peacock (LCP). In an attempt to plug gaps in company pension schemes, FTSE 100 firms put £17.5bn into defined benefit schemes in 2009, a rise of 50 per cent on [...]
Top firms in a bid to fill pension gap August 3, 2010 BRITAIN’S top companies doubled the amount they paid into pension schemes in 2009 compared to 2008, according to a report by actuaries Lane Clark & Peacock (LCP). In an attempt to plug gaps in company pension schemes, FTSE 100 firms put £17.5bn into defined benefit schemes in 2009, a rise of 50 per cent on [...]
Santander scoops 318 RBS branches after £4.5bn boost August 4, 2010 SPANISH giant Santander fired a warning shot across the bows of UK lenders yesterday, agreeing to buy 318 branches from Royal Bank of Scotland and preparing to reshuffle its global operations. Santander will become the fourth-largest bank on the high street after it takes over the outlets from RBS for £1.7bn. The deal, due to [...]
Connaught caught up in FSA probe over reporting speed July 27, 2010 SHARES in housing repair firm Connaught remained in the doldrums yesterday as details of the reported Financial Services Authority investigations emerged. The FSA is thought to be focusing on whether the beleaguered company was prompt enough in telling the stock market about its worrying financial state. Its profit warning on 25 June led to shares [...]
Santander revives £3bn flotation plan for UK arm to fund growth July 21, 2010 SPANISH bank Santander is re-examining plans to list its UK operations to raise cash for the purchase of assets including 318 Royal Bank of Scotland branches, it is understood. Depending on economic conditions, the group could float 20 per cent of the division comprising Abbey, Alliance & Leicester and parts of Bradford & Bingley in [...]
Jitters ahead of Bank’s Inflation Report as miners, banks and energy shares lose August 10, 2010 BRITAIN’S top shares were lower yesterday as investors nervously awaited the outcome of the Bank of England’s quarterly Inflation Report due today and commodity shares were hit by demand concerns following weak Chinese data. At the close, the FTSE 100 index was down 34.11 points, or 0.6 per cent, at 5,376.41, having ended at its [...]
Taxpayers to make £19bn from bailout August 4, 2010 TAXPAYERS stand to make a profit of £19bn if the government’s stakes in Lloyds Banking Group and Royal Bank of Scotland are wound down over the next five years, according to an independent consultancy. The Centre for Economic and Business Research (CEBR) made its prediction as the state’s exposure to Lloyds moved into the black [...]