Miners lend muscle to FTSE as banks shake off US blues January 18, 2010 BRITAIN’S leading share index took on 0.7 per cent yesterday, as heavyweight mining issues rallied with firmer metal prices, while banks moved higher awaiting further earnings news from US peers. At the close, the FTSE 100 index was 39.02 points higher at 5,494.39, albeit in subdued trade with US markets closed for Martin Luther King [...]
Quintain Estates joins rivals in property cash call frenzy November 5, 2009 PROPERTY developer Quintain Estates yesterday unveiled a fully underwritten £191.2m cash call to reduce its debt pile and fund construction projects. Quintain said the three-for-one rights issue of 390m shares would be priced at 49p – a 72 per cent discount to Wednesday’s closing price. The group said the net proceeds would be £183.5m after [...]
Wall St inches up ahead of jobs data January 7, 2010 THE DOW and the S&P 500 rose yesterday after Bank of America and General Electric rallied on positive broker comments, but investors were cautious a day before the release of key monthly non-farm payrolls data. US stocks have rallied over the past month as investors have become more optimistic about the economy. Job growth would [...]
BNP Paribas books 45pc rise in profit November 5, 2009 INVESTMENT banking and acquisitions helped France’s BNP Paribas to beat forecasts with higher third-quarter profits, but it was silent about whether it may buy parts of ailing British banks. Assets bought by BNP?from Fortis boosted the eurozone’s second-largest bank after Spain’s Santander, as well as taking investment banking and wealth management market share from rivals [...]
Travelport in pole position in float queue January 17, 2010 TRAVELPORT looks set to become the most expensive company to float on the stock exchange in two years. It will be amongst the first in a slew of companies seeking an IPO in the coming months. The airline and hotel reservations firm, which operates in 160 countries, has plans for flotation in London and hopes [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 24, 2010 THE SUNDAYS The Sunday Telegraph TCHENGUIZ BROTHERS IN £2BN BANK CLAIMS Companies linked to Robert and Vincent Tchenguiz, the property entrepreneurs, have filed creditors’ claims totalling £2.26bn against Kaupthing, despite being among the failed Icelandic bank’s biggest borrowers. It emerged last summer that Robert Tchenguiz had borrowed €1.7bn (£1.5bn) from the bank and Vincent Tchenguiz [...]
CITY MOVES WHO’S SWITCHING JOBS November 12, 2009 Daiwa SecuritiesThe investment banking group has appointed Masami Tada as its new chairman and chief executive for Europe and the Middle East. Tada joined the group in 1978 and has held a number of prominent roles in both Japan and Europe, most recently at the financial consulting and investment advisory arm, Daiwa Fund Consulting. The [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 14, 2010 FINANCIAL TIMES SIEMENs CHAIRMAN TO MEET INVESTORS Gerhard Cromme, chairman of Siemens and ThyssenKrupp, and the chief financial officers of both conglomerates will meet investors on Friday in an unusual joint move ahead of the first shareholder votes on executive pay in Germany. The meeting in Munich is considered extraordinary by investors as it highlights [...]
BEST OF THE BROKERS November 17, 2009 BT GROUPJP Morgan downgraded BT to “neutral”, saying that the group delivered on earnings in its first-half, but that there is reduced upside and scope for positive surprises. This and the increased pension liability drove the downgrade to the broker’s valuation, with the target price dropping to 170p. It believes the pending pension review will [...]
Banks hired by NewLook December 2, 2009 FASHION chain New Look yesterday edged closer to a possible £1.7bn stock market flotation by handpicking banks to work on the deal. The budget fashion chain, owned by private equity firms Apax and Permira, has chosen to work with JP Morgan Cazenove, Deutsche Bank and Credit Suisse. Lazard has acted as an adviser to the [...]