Best of the Brokers for 24 June 2015 June 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS RBC Capital Markets has downgraded the Primark owner from “outperform” to “sector perform” with a target price of 3,200p. The broker said that while Primark relatively rare international roll-out story, the company is lacking earnings momentum and its sees more [...]
Canadian fund Omers make $1.7bn swoop on UK consultancy Environmental Resources Management June 15, 2015 Charterhouse yesterday sold its stake in the world’s biggest environmental consultancy to Canadian mega fund Ontario Municipal Employees’ Retirement System (Omers) in a deal worth $1.7bn (£1.1bn). Omers’ private equity arm (OPE) will buy Charterhouse’s 55 per cent investment in Environmental Resources Management (ERM), which is headquartered in London with 162 other offices around the [...]
Failure to reach Greek debt deal pulls FTSE down – London Report June 15, 2015 GREECE’S latest failure to reach a deal with its creditors helped to push the FTSE 100 down yesterday, with the blue-chip index closing down 1.1 per cent at 6,710.52. The reduction extended the previous session’s losses of 0.9 per cent, but slightly outperformed major Eurozone indexes. Talks on ending a deadlock between Greece and its [...]
Britain likely to exit deflation next week June 12, 2015 Economists have said that official data due to be released next week will likely show Britain escaped from a brief period of technical deflation last month. They think that prices could have risen slightly in May due to higher fuel prices, alongside increases in the cost of air/sea transport, and holiday prices. Inflation turned fell by [...]
Rio Tinto prices $1.2bn of 10-year notes and redeems $1.2bn of 2016 notes June 12, 2015 Rio Tinto has said it would issue $1.2bn of 10-year bonds, allowing the Anglo-Australian mining company to repay debts due next year. It said it had priced the 10-year fixed rate debt securities with a 3.75 per cent coupon. They will be issued by Rio Tinto Finance and will mature on 15 June 2025. Citigroup [...]
City Moves for 12 June 2015 | Who’s switching jobs June 11, 2015 Standard Chartered Anju Patwardhan has joined the bank in the newly-appointed role of chief innovation officer. Patwardhan will become a member of the Standard Chartered’s technology and operations management group, and will oversee SC Studios, the bank’s innovation outpost in San Francisco. The experienced banker brings more than two decades of international financial services experience. [...]
Best of the Brokers for 10 June 2015 June 9, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com WH SMITH RBC Capital Markets has raised its price target to 1750p from 1600p and retained an “outperform” rating based on the growing prospects of its travel arm. The broker said it expects the travel business to generate at least 63 per cent [...]
City Moves for 19 May 2015 | Who’s switching jobs May 18, 2015 AIG AIG in the UK has appointed John McClelland to the new post of head of portfolio solutions, UK. He was most recently chief operating officer within AIG’s UK commercial lines division and has over 16 years’ experience. He started his career with Aon Marine, before working for GUD and joining AIG in 2005. BFP [...]
New Italian signing unveiled at Chelsea May 17, 2015 WITH the Chelsea Flower Show kicking off today, gardeners were surprised to find an unlikely guest among the Royal Bank of Canada’s plants – namely a lizard who clung on all the way from Italy. RBC is one of many financial groups making an appearance at the event, alongside an array of top City names. [...]
City Moves for 15 May 2015 | Who’s switching jobs May 14, 2015 Simmons & Company International The energy investment bank has appointed Nabeel Siddiqui as director in its London office. He joins from Epi-V, the upstream oil and gas focused private equity firm. Siddiqui has more than 12 years’ experience, and has also held roles in the US arm of DNB Markets. Olswang Paul Stevens has been [...]