Centrica wants more protection January 24, 2010 Centrica chairman Roger Carr is urging the government to consider protection for the owner of British Gas from foreign predators, The Mail on Sunday said. Carr was quoted, saying: “I’m going to tell them (the government) that if they don’t decide that this (Centrica) is a strategic asset then there is the possibility of the [...]
Investor warns on green energy July 19, 2010 Neil Woodford, head of investment at Invesco Perpetual, one of the energy industry’s largest shareholders, has threatened to stand in the way of new investments in British renewables unless the UK government ups the amount of returns available to investors and provides greater certainty over the future of its policy. Invesco, which owns more than [...]
BEST OF THE BROKERS June 14, 2010 LLOYDS BANKING GROUP Morgan Stanley has given Lloyds Banking Group an “underweight” rating and cut its price target by 23 per cent to 50p. Analysts said it faces a big risk of missing consensus beyond 2010, given pressure on net interest margin, tepid GDP growth and industry funding strains. Barclays is Morgan Stanley’s top pick. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 19, 2010 THE SUNDAYS The Sunday Telegraph CHEYNE CAPITAL SHUTS EQUITY FUND AFTER POOR PERFORMANCE London-based hedge fund Cheyne Capital has closed a much-heralded equities fund only a year after it opened. The fund, which it is believed was equivalent to around 1 per cent of the approximate £5bn Cheyne has under management, closed after a dissapointing [...]
BEST OF THE BROKERS June 8, 2010 CAMPARI JP Morgan Cazenove downgrades Campari to “underweight” noting that the June 2011 discounted cash flow derived price target is €3.80 (was €3.85) which is some nine per cent below the current share price. It notes Campari’s stock is up 14 per cent on an absolute level and relative to the local Italian index in [...]
Enter the corporate entrepreneur: Britain’s best hope for real recovery October 17, 2010 CO-FOUNDER, MARKET GRAVITY THE UK’s recovery from the deepest recession in eighty years is dependent on sustained private sector growth. Corporate earnings may be recovering, but too much is due to cost cutting, not real growth, and this trend is not sustainable. Recent analysis from Market Gravity illustrates that while 75 per cent of FTSE [...]
DEALMAKER OF THE YEAR | The Shortlist September 6, 2010 THE past 12 months have seen a boom in M&A as we have emerged from the downturn, with the Kraft-Cadbury deal filling endless column inches.?Elsewhere, Santander’s onward march continued. Other deals brokered by our short list were perhaps not so high-profile, but just as impressive in their own sectors. Don’t miss the City event of [...]
FTSE closes flat as Monday’s zeal for banks wanes and energy firms recover August 3, 2010 BRITAIN’S top shares ended steady yesterday as strength in oils offset falls in banks following weaker-than-expected US data that stoked concern about the strength of the economic rebound. The FTSE 100 closed down 0.63 point at 5,396.48 following a 2.7 per cent gain on Monday to a three-month closing high. “Weak US data in the [...]
FSA to probe Connaught as debt woes hit July 26, 2010 THE Financial Services Authority has launched a probe into house maintenance firm Connaught. The City watchdog is investigating whether Connaught fully disclosed its dire financial condition to investors ahead of last month’s shock profits warning. The FSA’s move comes as Connaught lost almost 70 per cent of its share value yesterday as it admitted it [...]
FSA to probe Connaught as debt woes hit July 26, 2010 THE Financial Services Authority has launched a probe into house maintenance firm Connaught. The City watchdog is investigating whether Connaught fully disclosed its dire financial condition to investors ahead of last month’s shock profits warning. The FSA’s move comes as Connaught lost almost 70 per cent of its share value yesterday as it admitted it [...]