BEST OF THE BROKERS June 30, 2010 LLOYDS BANKING GROUP Credit Suisse has given Lloyds Banking Group an “outperform” rating. It upgraded forecasts for the bank last month after flagging that sustained low interest rates would allow for a £4bn increase in mortgage revenues over the next three years. Base rate expectations have since fallen to record lows, notes Credit Suisse. RESOLUTION [...]
BEST OF THE BROKERS May 19, 2010 YELL JP Morgan Cazenove retains its “neutral” rating on Yell following its surprise announcement that both its CEO and CFO will leave the company in the next year. JP Morgan said the company is also guiding to a revenue decline but given £60m cost savings, JP Morgan believes that the revenue decline should be cushioned. [...]
Desmond may bid for Five July 11, 2010 EXPRESS Newspaper owner Richard Desmond has emerged as an unlikely frontrunner in the battle to buy Channel Five. The owner of adult channel Television X has made no secret of his desire to expand his media empire but this is the first time he has been linked to the struggling terrestrial broadcaster. It is understood [...]
US second quarter earnings steer shares upward July 11, 2010 European stock markets are headed higher once again on the open this morning, continuing last week’s buying spree which gave us the biggest weekly rally in a year. GFT is quoting the FTSE 100 index to open up 35 points from Friday’s close, at 5,167. The German DAX is also expected to start higher, up [...]
US second quarter earnings steer shares upward July 11, 2010 European stock markets are headed higher once again on the open this morning, continuing last week’s buying spree which gave us the biggest weekly rally in a year. GFT is quoting the FTSE 100 index to open up 35 points from Friday’s close, at 5,167. The German DAX is also expected to start higher, up [...]
BEST OF THE BROKERS June 1, 2010 INFORMA JP Morgan Cazenove reiterates its “overweight” rating on Informa after assessing its margin upside potential. JP Morgan said the company has proved itself good at removing costs to offset revenue shortfall, the stock offers a higher equity free cash flow yield than the business-to-business and ?professional publishing sub-sectors and the stock may see technical [...]
FUND MANAGEMENT NEWS June 8, 2010 EARN INCOME IN EMERGING MARKETS JP Morgan Asset Management has announced that it intends to launch the first investment trust that will focus on dividend income from emerging markets. Traditionally, emerging market equities are a good play on growth. However, as markets mature, more and more companies are paying good dividends. The fund’s initial target [...]
De La Rue stumped for an answer August 12, 2010 IN the 1930s the bank note manufacturer De la Rue created a number of boardgames, including a cricket game called Stumpz. Yesterday its chief executive James Hussey was well and truly stumped as he resigned with immediate effect following the discovery last month of serious problems with the group’s paper production operations. What makes this [...]
FTSE climbs for sixth day on optimism over US earnings and stress test hopes July 13, 2010 BRITAIN’S top shares climbed for the sixth consecutive session yesterday, led by banks on optimism that US peers would post strong earnings and lift the sector, and that Europe’s lenders would pass a key stress test. The FTSE 100 closed 104 points, or two per cent, higher at 5,271.02, hitting its highest close in over [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2010 FINANCIAL TIMES HIGH COURT RULES INVESTOR BROKE BUY-OUT FUND CONTRACT An important precedent for the private equity industry has been set by a High Court ruling that Robert Adair, chairman of oil group Melrose Resources, breached a contract by refusing to put more money into Advantage Capital’s buy-out fund. Adair, who owns more than half [...]