Tantrums and tyres as Square Mile go-karting contest returns February 19, 2013 WHILE a game of squash or round of golf are the more traditional City pastimes for the competitively inclined among us, a new sport seems to be ruffling a few feathers within the Square Mile. Yes, the City Slickers Grand Prix is back for a third year. With go- kart racers from Morgan Stanley, Barclays, [...]
UK firms party Gangnam Style at market bash February 19, 2013 THE Honourable Artillery Company was the venue for the 2013 UK Stock Market Awards on Monday evening. The third annual ceremony, compered by BBC Radio 4 sports presenter Garry Richardson, was held to celebrate all that is great about publicly listed British companies “and the equity market within which they operate”. With that in mind, [...]
Best of the Brokers for 20 February 2013 February 19, 2013 STANDARD CHARTERED Shares in the bank rose 2.3 per cent as analysts at Morgan Stanley upgraded it from “equal weight” to “overweight” and upped its target price from 1656p to 1924p. Morgan Stanley said it was “switching our preference from HSBC to Standard Chartered due to the improvement in the Asian economic environment (a positive [...]
London Report: German data helps FTSE hit five-year high February 19, 2013 BLUE chip index posted its highest close in five years yesterday in a broad-based surge across all major sectors, as a strong German business sentiment survey supported a favourable technical picture. The FTSE 100 extended gains in afternoon trade after a ZEW survey showed that German investor and analyst sentiment soared to its highest level [...]
Bancolombia snaps up HSBC Panama assets February 19, 2013 BANCOLOMBIA, Colombia’s largest lender by assets, agreed to purchase HSBC Bank SA Panama for $2.1bn (£1.36bn), the most ever paid by a local bank and the latest in an expansion wave by financial entities into Latin America. The acquisition includes HSBC Panama’s brokerage, fiduciary services unit, banking business and its insurance company, Bancolombia said in [...]
Uncertainty threatens China growth February 18, 2013 CHINA is back at work after a week-long vacation for the Lunar New Year. Around the holiday, many Chinese, eager to learn more about the year ahead, visit a feng shui master to see if the new year will bring good fortune. Veteran Beijing-based soothsayer Chen Shuaifu, who regularly advises Chinese companies, predicted the Year [...]
City Moves for 19 February 2013 | Who’s switching jobs February 18, 2013 Barings The asset management firm has announced the appointment of Angus Woolhouse as global head of distribution. Woolhouse has over 20 years’ experience in the asset management industry, and has held senior roles at Gartmore, Invesco and HSBC Asset Management. Colliers The commercial real estate services company has appointed Mark Emburey as a director in [...]
Cameron blows UK’s trade horn on India visit February 17, 2013 LONDON’S transport expertise and Tesco’s expansion plans will be high on the agenda during Prime Minister David Cameron’s trade mission to India this week. Cameron will arrive in Mumbai today with a delegation of ministers and business bosses including Standard Chartered’s Peter Sands to speak with trade partners in India. Transport for London has sent [...]
Mixed mining shares weigh on FTSE February 15, 2013 The blue chip index edged down in early deals after a mixed performance from headline mining shares. Anglo American was the biggest riser, adding more than three per cent in early deals, despite it posting a sharp drop in 2012 earnings as it was hit by last month’s $4bn write-down on Brazilian project Minas Rio. [...]
Amec weighs on FTSE February 14, 2013 The FTSE 100 edged down this morning as oil engineer Amec weighed heavily on the index. Shares in the engineer lost more than 5.5 per cent in early trading, despite it posting an 11 per cent hike in annual earnings this morning, enabling it to pledge a 20 per cent increase in its dividend. “In [...]