Caution hurts Alliance Trust September 21, 2009 ALLIANCE Trust, the blue-chip investment trust headed by Katherine Garrett-Cox, has said it performed worse than rivals after the manager took a cautious view on the recent equity-market rallies. The Dundee-based trust, which is listed on the FTSE 100 index, has said it is now ranked 36th out of a total of 44 investment-trust rivals [...]
Surprise surge in property investments September 21, 2009 The second and third quarters of 2009 have seen a surge in interest from first time investors, according to Assetz, as people looked to take advantage of good value in the property market amid signs of strengthening house prices. During the summer a wave of new investors entered the market thanks to disillusionment with poor [...]
WHAT DO DE MARGERIE’S COMMENTS MEAN FOR THE OIL SECTOR ? September 21, 2009 PETER HUTTON NCB“De Margerie has consistently highlighted the need for continued investment to meet demand. In fact, we need a new Saudi Arabia every two to three years. Total claim $60-70 oil is insufficient for new projects eg oilsands, so this is effectively a hint for higher oil or lower project costs.”MALCOLM GRAHAM-WOOD HANSON WESTHOUSE“As [...]
Primark to beat retail gloom September 21, 2009 Primark is set to become a major European force as retailers offering low-cost goods thrive in the recession, according to research out today by Verdict analysts. Verdict predicts the European retail sector will shrink by 5.2 per cent to in 2009, but that value retailers will outperform the market.
Punch buys bonds to cut debt September 21, 2009 Pub group Punch Taverns yesterday said it had repurchased more than one third of its convertible bonds, reducing the amount outstanding to just over £100m. The pub owner has bought a total of 33.9 per cent of the original nominal value of the five per cent convertible bonds due 2010. This is the latest measure [...]
Banca Popolare to issue bond September 21, 2009 Italy’s Banca Popolare de Milano is to issue a state-backed “Tremonti” bond worth €500m (£453m). The bank, the second to issue the type of bond named after economy minister Giuliano Tremonti, said it had met government requirements to launch the issue within the next 15 days. A Tremonti bond is issued by a bank and [...]
CITY MOVES Who’s switching jobs September 21, 2009 Matrix Corporate CapitalThe broking and corporate advisory firm has appointed Oliver Hoare as head of pan-European large cap equity sales. Hoare, who will begin with full coverage of the UK market and then roll out his team’s service to continental Europe, brings over 20 years of experience to the role. He was most recently at [...]
Punch buys bonds to cut debt September 21, 2009 Pub group Punch Taverns yesterday said it had repurchased more than one third of its convertible bonds, reducing the amount outstanding to just over £100m. The pub owner has bought a total of 33.9 per cent of the original nominal value of the five per cent convertible bonds due 2010. This is the latest measure [...]
Pirc attacks Ball’s ITV demand September 21, 2009 Shareholder body Pirc yesterday launched an attack on the £30m pay package ex-BSkyB boss Tony Ball is said to be demanding to take up the role of chief executive of ITV. The body is concerned over potential risks to the long-term stability of the struggling broadcaster. It is expected that ITV will make an announcement [...]
Seatwave boosted by live acts September 21, 2009 Seatwave, Europe’s largest fan-to-fan ticket exchange, yesterday announced a leap in ticket sales as a raft of live entertainment lured in punters. The number of European fans attending live events in Britain during the first half of 2009 increased by 596 per cent compared with the same period a year earlier, Seatwave said. The increase [...]