Banks and miners propel the FTSE after July’s record gain August 2, 2010 BANKS and commodity stocks powered a sharp rise in Britain’s top share index yesterday, as HSBC’s results beat forecasts and metal and energy prices rose. The FTSE 100 closed up 139.09 points, or 2.7 per cent, at 5,397.11. For the month of July the index rose 6.9 per cent, its biggest monthly increase for exactly [...]
RBS sells its Kazakhstan units to HSBC for $52m June 17, 2010 ROYAL Bank of Scotland sold its Kazakhstan business to HSBC yesterday to take the part-nationalised bank’s proceeds from a trio of Asian and Middle East assets to $200m (£135.2m) in two days. HSBC, which unlike RBS did not take state help during the financial crisis and consolidated its position as Europe’s biggest bank, said it [...]
RBS sells its Kazakhstan units to HSBC for $52m June 17, 2010 ROYAL Bank of Scotland sold its Kazakhstan business to HSBC yesterday to take the part-nationalised bank’s proceeds from a trio of Asian and Middle East assets to $200m (£135.2m) in two days. HSBC, which unlike RBS did not take state help during the financial crisis and consolidated its position as Europe’s biggest bank, said it [...]
After waiting in the shadows, the telco sector is looking good August 9, 2010 SINCE the outbreak of the European debt crisis, analysts have sung the praises of the utilities sector. It had all the ingredients to be recession- busting: utility stocks tend to be anti-cyclical, they hold up well when other stocks tumble and they provide a reliable dividend. But as the global economy emerges from recession, some [...]
Spain’s BBVA in talks to buy UK Yorkshire and Clydesdale banks June 6, 2010 SPAIN’S BBVA has been in talks in recent weeks to possibly buy the Yorkshire and Clydesdale banks in Britain from owner National Australia Bank (NAB), according to weekend reports. The potential sale, which could value the British business at £2bn, comes after NAB pulled out of the auction to buy 318 Royal Bank of Scotland [...]
CITY MOVES | WHO’S SWITCHING JOBS July 12, 2010 HSBC Private Bank The bank has appointed three associate directors to its high net worth team. Simon Gamse has over 28 years of experience, including working for Merrill Lynch, Goldman Sachs and Barclays Wealth. Jonathan Reed joins from Seven Investment Management, while Paul Avant (pictured) returns to London to take up his new position, having [...]
LISTED PRODUCT NEWS July 28, 2010 EUROPEAN ETFS ENJOY NET INFLOWS Data provided by iShares, the ETF provider, found that there were more than $226m of net inflows to European sector ETFs that track the Eurostoxx 600 last week. The largest flows went to industrial goods and services, which had $103m of inflows. Utilities experienced the second largest flows of $50m. [...]
BEST OF THE BROKERS June 13, 2010 MICHELIN Royal Bank of Scotland (RBS) initiates a “buy” rating for Michelin and says that despite rising material prices, it sees room for Michelin to profit from early implementation of price increases, stronger replacement business momentum, and better underlying earnings due to the cost cuts in 2009. GREENE KING Seymour Pierce has given Greene King [...]
BEST OF THE BROKERS June 13, 2010 MICHELIN Royal Bank of Scotland (RBS) initiates a “buy” rating for Michelin and says that despite rising material prices, it sees room for Michelin to profit from early implementation of price increases, stronger replacement business momentum, and better underlying earnings due to the cost cuts in 2009. GREENE KING Seymour Pierce has given Greene King [...]
RBS in €400m equity sale May 23, 2010 Royal Bank of Scotland is near to agreeing the sale of its European private equity fund portfolio, it is understood. The deal, worth about €400m (£348m) is expected to be announced in the next few weeks. The buyer is Alpinvest, a Dutch pension fund. RBS is 70 per cent government owned.