10,000 ON THE DOW IS NOT IMPOSSIBLE October 12, 2009 MARTIN SLANEYHEAD OF DERIVATIVES, GFT DO not underestimate just how important this week is for the markets. The next few days are likely to prove decisive in determining the near-term direction of global stock markets. And it’s all down to earnings. In the first quarter, the overriding concern was whether we were facing meltdown, and [...]
BEST OF THE BROKERS October 18, 2009 CAPITAL & REGIONALKBC Peel Hunt upgraded their rating on FTSE 250 stock Capital & Regional from “hold” to “buy”, with a target price of 37p. The broker said that the new management has ensured the firm’s survival, along with a stabilisation of commercial property values, and that it is well placed to take advantage of [...]
BEST OF THE BROKERS October 12, 2009 BURBERRY GROUPDeutsche Bank raised its target price for Burberry to 620p, with a “buy” recommendation, ahead of the retailer’s second quarter sales update tomorrow. The broker said that expectations appear to be reasonably high, but that it believes that, most significantly, excess inventory will have been cleared through. DUNELM GROUPInvestec said that the recent placing [...]
LLOYDS LAUNCHES ITS RECORD RIGHTS ISSUE November 24, 2009 LLOYDS Banking Group yesterday launched the biggest cash call the City has ever seen with its long-awaited £13.5bn rights issue, offering new shares to investors at a deep discount of almost 60 per cent. The rights issue has been priced at 37p, a discount of 59.5 per cent to Monday’s close of 91.47p. Under the [...]
Yell moves refinancing on with 660m fundraising November 10, 2009 Struggling publisher Yell Group embarked on the last stage of a protracted refinancing yesterday when it announced a £660m share issue, lifting its shares three per cent. Yell plans to issue 1.6bn shares at 42p a-piece, a 12.5 per cent discount to Monday’s closing price. Half will be sold through a placing to agreed buyers [...]
Bankers grab luxury homes October 22, 2009 IN a fresh sign that bankers are feeling comfortable enough to splash the cash, enquiries for prime properties in Kensington and Chelsea have jumped in recent weeks, according to estate agents Knight Frank. Goldman Sachs was recently under the spotlight for awarding its 30,000 staff £500,000 each in bonuses, with some top traders set to [...]
Rising stars ofCity fight off the downturn December 6, 2009 ONE hundred of the City’s most precocious young stars have been honoured in a round-up of the hottest names to watch in the world of finance over the coming year. The list of 100 Rising Stars, compiled by Financial News, includes Goldman Sachs emerging markets trader Jan Sramek, who at the tender age of 22 [...]
Aviva to offer shares in Dutch arm at a discount October 18, 2009 INSURER Aviva is to offer shares in its Dutch subsidiary Delta Lloyd at a discount, sources familiar with the matter said yesterday, giving the unit a market value of about £2.7bn. The group, which aims to list 30 to 40 percent of Delta Lloyd, is likely to receive 1bn euros (£913m) to 1.3bn euros from [...]
Aviva to offer shares in Dutch arm at a discount October 18, 2009 INSURER Aviva is to offer shares in its Dutch subsidiary Delta Lloyd at a discount, sources familiar with the matter said yesterday, giving the unit a market value of about £2.7bn. The group, which aims to list 30 to 40 percent of Delta Lloyd, is likely to receive 1bn euros (£913m) to 1.3bn euros from [...]
Alpha Bank joins cash call run October 19, 2009 Alpha Bank, Greece’s third largest lender, will issue new shares and repay almost €1bn (£914m) of state support in a move to cut ties with government and resume paying dividends. A three-for-10 rights issue will raise €986m to redeem €940m of preferred shares the bank sold the government earlier this year. The deal is expected [...]