Best of the Brokers for 12 March 2014 March 11, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AVIVA RBC Capital has moved its target price on the insurer from 400p to 550p and upgraded the stock from “underperform” to “neutral” following last week’s results, saying that a return to top-line growth in its life business and management drive to improve [...]
Analyst Views: Jupiter has cut its debt – is there scope for a dividend hike? February 27, 2014 HALEY TAM | CITI “Jupiter paid off the last of its debt in February 2014, and is not reliant on its consolidation waiver, which runs to June 2015. There is clear potential for increased returns to shareholders in 2014 from the group’s strong operating cashflow generation of £122.1m in 2013. PETER LENARDOS | RBC CAPITAL [...]
City Moves for 21 February 2014 | Who’s switching jobs February 20, 2014 Jones Lang LaSalle Christopher Shead has joined the real estate services firm as a director in its renewable energy capital team. He was previously at FIM Services, where he led its renewable investment division. Before that, Shead worked in the global climate and renewables business at E.On. Nomura The investment bank has appointed David Hague as [...]
Retail investors to be courted in biggest Nordic flotation in years February 18, 2014 ISS, the Danish outsourcing group, intends to attract retail investors to its stock market flotation in Copenhagen, the biggest Nordic flotation in 14 years. “There’s potential to have strong demand,” chief executive Jeff Gravenhorst said yesterday. “The percentage that goes to the retail investor will depend on their appetite.” ISS, which is part-owned by Sweden’s [...]
Candy Crush maker King’s $500m IPO on its way February 18, 2014 The developer of addictive puzzle solving games, King, has confirmed that it's going to market. The company has filed for a $500m initial public offering. It boats 324m monthly unique users, and offers a portfolio of over 180 games. King hopes to list ordinary shares on the New York Stock Exchange with the ticket symbol [...]
Statoil slashes spending as profits wane February 7, 2014 Norwegian energy company Statoil has announced net income of 14.8bn Norwegian Krone (£1.4bn) for the fourth quarter. The results came in below estimates of a Bloomberg poll of 20.8bn Norwegian Krone but were better than the more bearish forecasts of RBC Capital Markets of 12.3bn Norwegian Krone. The company said the results were "impacted by [...]
Statoil expected to cut spending and output February 6, 2014 Norway’s Statoil will be the latest of the energy giants to show its cards tomorrow, as it unveils its fourth-quarter results and a strategy update. Statoil’s rivals – Shell, BG Group and BP – have failed to ignite the market with their results, as weak oil prices, low US gas prices and poor refining margins [...]
Premier Oil chief executive steps down after nine years at the top February 4, 2014 THE CHIEF executive of Premier Oil is to step down after nine years at the helm, the FTSE 250-listed energy explorer said yesterday. Simon Lockett, who is leaving to pursue new business opportunities, has agreed to remain in the role until a successor has been found by the board, to ensure a smooth transition. “It [...]
Barclays beats US banks to lead field in public listings this year February 2, 2014 BARCLAYS has come out top as adviser for initial public offerings (IPOs) in the United States for this year so far, Dealogic data showed today. The bank was able to rapidly build its presence in the US in part by snapping up chunks of Lehman Brothers after its collapse in 2008. So far this year [...]
How Martin Gilbert is poised to challenge the US giants February 2, 2014 A painful experience in the past has helped Aberdeen Asset Management build for the future. Its CEO tells David Hellier how his latest deal can be a catalyst for US expansion WHEN Martin Gilbert and his board first discussed the acquisition of Scottish Widows Investment Partnership (SWIP) from Lloyds last March, they turned the deal [...]