BEST OF THE BROKERS June 28, 2009 KESAJP Morgan analysts believe that Kesa offers investors a restructuring story with the potential to deliver around 100 per cent earnings per share growth over two years. The broker views the firm’s continued investment in new markets as a positive, especially as it has been achieved with a capex reduction. It remains “overweight” on the [...]
It’s time to start re-thinking your attitude to trading the oil market July 12, 2009 WHAT a difference a year makes. With crude oil sinking below $60 a barrel on Friday for the first time since mid-May, it seems incredible that it was only 12 months ago that oil hit a record high of $147 a barrel, fuelling speculation among industry players that it could reach $250. Oil prices had [...]
It’s time to start re-thinking your attitude to trading the oil market July 12, 2009 WHAT a difference a year makes. With crude oil sinking below $60 a barrel on Friday for the first time since mid-May, it seems incredible that it was only 12 months ago that oil hit a record high of $147 a barrel, fuelling speculation among industry players that it could reach $250. Oil prices had [...]
JJB Sports shares dive on cash call July 6, 2009 JJB SPORTS yesterday suffered a 25 per cent plunge in its share price to 23p after investors were rattled by a confirmation of a £50m rights issue and a controversial row involving executive chairman Sir David Jones. The ailing sportswear chain yesterday said it is looking to raise working capital in a placing and open [...]
JJB Sports shares dive on cash call July 6, 2009 JJB SPORTS yesterday suffered a 25 per cent plunge in its share price to 23p after investors were rattled by a confirmation of a £50m rights issue and a controversial row involving executive chairman Sir David Jones. The ailing sportswear chain yesterday said it is looking to raise working capital in a placing and open [...]
A SIGH OF RELIEF FOR FUND GURU DUFFIELD August 4, 2009 AFTER months of being down on his luck, perhaps the tide is starting to turn for veteran fund management guru John Duffield and his newest business venture, Brompton Asset Management. Duffield, who also previously set up Jupiter and New Star, originally named the firm Hyde Park Asset Management, before hedge fund marketing firm Hyde Park [...]
DEUTSCHE KEEPS ITS MAN June 7, 2009 DEUTSCHE Bank’s star performer Anshu Jain has pledged his loyalty to the bank, despite rumours of a summer move to either Citigroup or Barclays. Jain, who has also advised the government on the financial crisis, is believed to be Deutsche’s top earner and was recently elevated to the bank’s board. He was thought to have [...]
BAE plans $1.5bn bond issue June 2, 2009 Defence contractor BAE Systems is planning to issue a $1.5bn (£1bn) bond with maturities at five years and 10 years, an official at one of the banks managing the sale said yesterday. Goldman Sachs, JP Morgan, and Barclays have been named to manage the two-part issue, the official said.
International Power leading the way for defensive stocks August 11, 2009 THE LARGE cap index shed 1.1 per cent yesterday, knocked by weakness in heavyweight banks, miners, and oils, but defensive stocks were back in favour once again. The FTSE 100 was 50.86 points lower at 4,671.34 by the close of the session, weakening for a second day after hitting a 10-month closing high of 4,731.56 [...]
THE TIPSTER June 14, 2009 AGGRESSIVE DISCOUNTING TO LIFT TESCOTHERE were rumours flying around the markets last week of a profit warning by Carrefour – the world’s second largest supermarket – but this side of the Channel, things in the grocery market are looking a lot rosier. Morrisons has been doing well, as has Sainsbury’s. But size does seem to [...]