Best of the Brokers for 21 August 2014 August 20, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DEBENHAMS Cantor Fitzgerald has raised its rating to “hold” from “sell”, but cut the target price to 65p from 70p. The broker still has concerns on the balance sheet and need to invest in the store portfolio, but thinks it will benefit from [...]
London Report: FTSE slips from five-day rise as ex-div firms fall August 20, 2014 BRITAIN’S top share index yesterday retreated from a three-week high, halting a five-day winning streak, with companies trading without the attraction of their latest dividend putting pressure on the broader market. The benchmark index finished down 0.35 per cent, or 23.83 points, at 6,755.48 points. Despite markets pausing for breath after recent rises, Standard Chartered [...]
Glencore reveals $1bn share buyback as earnings increase 8pc August 20, 2014 Glencore has revealed an eight per cent increase in adjusted earnings alongside plans to pay out up to $1bn of cash to shareholders through a share buyback programme. The news means Glencore will return capital to investors before mining competitors BHP Billiton and Rio Tinto, with the company saying the buyback will run to March [...]
Huge demerger as BHP Billiton spins off assets to create new mining company August 19, 2014 Global mining giant BHP Billiton yesterday confirmed it was spinning off a range of assets across five countries to create a new mining company. The major demerger will see the as-yet-unnamed NewCo take on aluminium, coal, manganese, nickel and silver assets, and will have current BHP Billiton chief financial officer Graham Kerr as its [...]
BHP Billiton demerger share price drop: Worth digging past the disappointment – Bottom Line August 19, 2014 Plans for a leaner, meaner and more profitable mining giant drew little love from investors yesterday. It was easy to see why – but that doesn’t mean the prospects for a slimmed-down BHP Billiton aren’t shiny. The air of disappointment that saw BHP’s shares fall nearly five per cent over the day was down largely [...]
BHP Billiton share price drops as it pushes ahead with $14bn spin-off August 19, 2014 BHP Billiton, the world’s second-largest miner, has confirmed plans to spin off some of its assets into a new metals and mining company worth $14bn (£8.38bn), effectively undoing the 2001 merger that created it. Among the assets to be demerged are aluminium, coal, manganese, nickel and silver mines, including the Cannington silver and lead [...]
London Report: Argentina, US and Russia fears weigh on FTSE July 30, 2014 FEARS yesterday over Russian sanctions and an Argentinian default, as well as concerns that good GDP figures from the US might push up interest rates brought the FTSE lower. London’s blue chip index ended the day on 6773.44 points, 0.5 per cent, or 34.31 points, lower. Among the gainers, Barclays jumped 4.2 per cent to [...]
Why the Jaguar F-Type Coupé is the best sports car of its generation July 29, 2014 Getting into an F-Type coupé is like the first haircut you have when you graduate. You’re starting to face reality and a job interview is on the horizon. Every mirror solicits a double-take – you never knew you could look so smart. But this car is stunning from every angle. There are great works of [...]
London Report: Tesco share price falls to lowest in 10 years as GSK warns on earnings July 23, 2014 Shares in Tesco yesterday fell to their lowest level in almost a decade after the beleaguered supermarket issued a profit warning earlier this week and announced that chief executive Philip Clarke is stepping down. Tesco’s shares fell 0.49 per cent to 276p yesterday, down 4.6 per cent since Monday when Clarke’s exit was announced and [...]
London Report: West’s sanctions on Russia and Malaysia jet crash hit FTSE July 17, 2014 BRITISH airline shares fell sharply yesterday on news that a Malaysian Airline Boeing 777 had been shot down over eastern Ukraine. The FTSE 100 finished 46.35 points down, or 0.68 per cent, on 6,738.32, while gold added $20 to $1,322 an ounce on increased tensions caused by the west’s tougher sanctions on Russia. British Airways [...]