ENRC soars as output jumps in strong year February 6, 2013 EURASIAN Natural Resources (ENRC) shares soared yesterday as investors cheered the miner’s latest output report. In its ferroalloys division, ENRC produced 6.8 per cent more ferrochrome in the fourth quarter of 2012 than the previous year, and reported an 8.9 per cent jump in the amount of total saleable ferroalloys output in what chief executive [...]
Mike Ashley’s Sports Direct on track for FTSE 100 promotion September 8, 2013 THE FTSE 100 is set to become a more colourful place this week with Sports Direct – controlled by Newcastle United owner Mike Ashley – on track for promotion to Britain’s leading share index. Many pension funds that track the FTSE 100 will then be obliged to buy shares in the company, which has both [...]
Bumi slips out of FTSE 250 after index kicks out troubled miner September 11, 2013 COALMINER Bumi yesterday slipped out of the FTSE 250 at the index’s quarterly review, bringing an end to a deeply unsuccessful spell in the top tiers of British business. The company will now became a member of the FTSE Small Cap index. Set up in 2010 by Nat Rothschild, Bumi has endured a turbulent existence [...]
Former GlaxoSmithKline boss to make return to public market September 8, 2013 A MEDICAL investment group chaired by the former boss of pharmaceuticals giant GlaxoSmithKline (GSK), Sir Richard Sykes, is due to float on London’s junior market next week. NetScientific, which funds and develops and healthcare technologies from universities in Britain and the UK, is seeking to raise £30m on Aim, with shares expected to start trading [...]
Cardiff City FC mull plan for a stock market float August 11, 2013 FORMER ENRC chairman Mehmet Dalman is pushing forward with plans to take newly promoted Cardiff City Football Club onto the stock market. The Square Mile veteran, who is chairman at the club, is understood to have met with capital market bankers to discuss plans for the club, which could include a market float. Hong Kong [...]
Institute of Directors takes stand against tighter listing proposals July 22, 2013 THE INSTITUTE of Directors (IoD) yesterday criticised proposals to tighten listing rules for companies with controlling shareholders. The influential group said the idea put forward by the Association of British Insurers for more stringent rules on majority shareholders in London-listed companies would fail to boost governance standards. It follows criticism of London’s listing rules after [...]
SFO’s tip-off service nets no investigations July 25, 2013 THE SERIOUS Fraud Office has had its hands full in the last year. From Libor to ENRC to GSK, a dizzying array of acronyms has built up in its in-tray. So it’s laudable that the SFO took the time this week to email in about a story City A.M. ran in March on the organisation’s [...]
Business group warns that tighter listing rules won’t prevent future problems July 22, 2013 As Bumi shares have resumed trading today after three months of suspension, the Institute of Directors has warned that to tighten up listing rules would be a mistake, and unlikely to prevent another Bumi saga. Dr. Roger Barker, director of Corporate Governance and Professional Standards at the Institute of Directors: The fact that companies like [...]
Russian and Kazakh firms set for relegation from FTSE 100 | City A.M. June 10, 2013 ALL THE Russian and Kazakhstan-based firms listed on the London Stock Exchange are expected to leave the top FTSE 100 index in the coming months in a stunning reversal from the tide of eastern giants entering the blue chip London market in recent years. Mining firms Polymetal and Evraz are widely expected to fall out [...]
ENRC plummets as it buys out Camrose from its Congo unit December 10, 2012 MINER Eurasian Natural Resources was the second-biggest blue-chip faller yesterday, falling 2.62 per cent, as it paid $550m (£343m) to tighten its control over its unit in the Congo. Kazakh ENRC said its subsidiary ENRC Congo had agreed to buy the 49.5 per cent of holding company Camrose Resources that it did not already own, [...]