LSE equity trading jumps in May June 7, 2009 The average daily value traded in equities on the London Stock Exchange increased nine per cent to £8.2bn in May compared with the daily average in April. However, the figure was still 36 per cent lower in comparison to the same month last year. The total equity value traded on the exchange in May was [...]
Detail on LSE chief’s pay plan June 4, 2009 City A.M. yesterday reported that the London Stock Exchange’s (LSE) new chief executive Xavier Rolet could earn £5.2m in his first year in the role. The LSE has subsequently pointed out that Rolet could earn up to £2.3m this year through his base salary, benefits and bonus, if targets are exceeded. Should he choose to [...]
Paulson loses on Barclays short position June 4, 2009 PROMINENT hedge fund manager John Paulson has abandoned his fund’s short position on Barclays, losing an estimated £100m in the process. The loss will be particularly keenly felt because New York-based fund Paulson closed its position just a day before Abu Dhabi’s International Petroleum Investment Corporation opted to offload 1.3bn shares in Barclays, pushing the [...]
BEST OF THE BROKERS June 3, 2009 VODAFONE GROUPCitigroup analysts returned from travelling with Vodafone managers to meet investors and were no less positive on the structural opportunity at the group than before. The broker remains a “buy” on the stock with a target price of 118p, but argues that targets could be increased, perhaps in November. The focus remains on shareholder [...]
BEST OF THE BROKERS June 3, 2009 VODAFONE GROUPCitigroup analysts returned from travelling with Vodafone managers to meet investors and were no less positive on the structural opportunity at the group than before. The broker remains a “buy” on the stock with a target price of 118p, but argues that targets could be increased, perhaps in November. The focus remains on shareholder [...]
Rolet could earn 5.2m from LSE job June 3, 2009 XAVIER Rolet, the chief executive of the London Stock Exchange (LSE), could take home up to £5.2m in his first year in the role, according to he exchange’s annual report, published yesterday. The company’s annual report gave the City its first glimpse of the deal that enticed Rolet take on the job of tackling increased [...]
LMS set to join main market June 2, 2009 LMS Capital, which has benefited as larger private equity firms have been unable to snap up stricken small companies due to capital constraints, is joining its bigger rivals on the London Stock Exchange’s (LSE) main market. The group is leaving AIM for the Official List after runaway growth since its June 2006 listing, and will [...]
ORIEL SECURITIES AND KBC PEEL HUNT JOINT BROKER, UNDERWRITER AND BOOKRUNNER May 28, 2009 Speedy Hire’s rights issue is fully underwritten by Oriel Securities and KBC Peel Hunt, with Rothschild as the financial adviser. The Oriel Securities team comprises members of its corporate, sales and research divisions, led by Oriel’s head of corporate Richard Crawley, who joined the firm two years ago from Credit Suisse. This month, the team [...]
Castle in LSE listing amid liquidity hunt May 26, 2009 SWISS fund of hedge funds Castle Alternative Invest is launching a second share listing on the London Stock Exchange (LSE), in a bid to access the high levels of liquidity on the main UK stock market. The fund, run by LGT Capital Partners, is currently trading at a 27 per cent discount to its £315m [...]
Nick Leslau’s Max Property wins early success as floats at 200m May 21, 2009 AIM-quoted Max Property Group, the vehicle set up by tycoon Nick Leslau to take advantage of rock bottom property prices, saw its shares trading 30 per cent above their IPO price as they debuted yesterday, after the firm raised £200m in its share offer. The offer price was set at 100p, but the shares were [...]