Polymetal in debut day on London exchange November 2, 2011 RUSSIA’S fourth biggest gold miner Polymetal was yesterday officially admitted to the London Stock Exchange after switching from a Moscow listing. The move follows a £491m share placing that values the company at £3.55bn. The placing was priced at £9.20 – the bottom of the range that was set between £9.10 and £10. Sources said [...]
CITY MOVES | WHO’S SWITCHING JOBS November 9, 2011 DLA Piper Tony Angel, the former firm-wide managing partner of Linklaters, has joined DLA Piper as global co-chairman and senior partner of the international law firm. He will serve alongside global chairman Francis B Burch Jr and work with the firm’s chief executives Sir Nigel Knowles and Lee I Miller. Following his tenure at Linklaters [...]
FTSE ends flat as S&P eyes Eurozone rating downgrades December 6, 2011 THE UK’s top share index ended flat yesterday, with banks and retailers falling and sentiment hurt as credit agency Standard & Poor’s warned of a possible downgrade to most Eurozone countries. At the close, the FTSE 100 index was up 0.76 points or 0.01 per cent at 5,568.72 following a see-saw session, having closed at [...]
FTSE ends flat as S&P eyes Eurozone rating downgrades December 6, 2011 THE UK’s top share index ended flat yesterday, with banks and retailers falling and sentiment hurt as credit agency Standard & Poor’s warned of a possible downgrade to most Eurozone countries. At the close, the FTSE 100 index was up 0.76 points or 0.01 per cent at 5,568.72 following a see-saw session, having closed at [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 21, 2011 FINANCIAL TIMES EX-LEHMAN CHIEF TO RUN SPAIN’S ECONOMY Spain’s new government has placed the economy in the hands of Luis de Guindos, former head of Lehman Brothers in Spain, as Mariano Rajoy, the prime minister, seeks to return the country to growth while embarking on a programme of budgetary austerity. As finance minister, Mr de [...]
Victory in battle to bring renminbi market to City November 7, 2011 EXCLUSIVE THE CITY has taken a major step towards becoming the first offshore trading centre for the Chinese renminbi after the FSA began work on loosening up regulations for Chinese banks, City A.M. can reveal. Following moves by HM Treasury (HMT) to push the issue up the agenda, the FSA has kicked off due diligence [...]
Chinese manufacturing data starts a busy week October 23, 2011 THIS is set to be a busy week as market participants get to grips with a pile of economic data, US corporate earnings and the second act of the EU summit this Wednesday. CHINA MANUFACTURING PMI The first thing to confront traders this morning will be China’s HSBC Flash Manufacturing PMI. This can be a [...]
CITY BANKS FACE JOBS BLOODBATH November 16, 2011 THE CITY faces a jobs bloodbath as investment banks accelerate job cuts to a speed last seen during the 2008 financial crisis. With data showing UK joblessness at a 15-year high, one of Canary Wharf’s biggest employers, Citigroup, confirmed plans to slash jobs, with 3,000 expected to go globally. BNP Paribas also said it would cut [...]
Santander chief expects three year chill on profits September 29, 2011 SPANISH bank Santander expects it will take three years for profits to return to normal as higher regulatory and funding costs bite while the credit cycle gradually improves. The Eurozone’s biggest bank expects its return on equity (RoE) to improve by between three and six percentage points over the next three years and sees profits [...]
China’s service sector slows in August September 5, 2011 China’s fledgling services sector grew at the lowest pace on record in August, a private survey has shown, as new orders ebbed and measures to rein in the property sector started to pinch. The slowdown in the services sector, which accounts for less than 45 per cent of gross domestic product, reinforces signs that China [...]