Buoyant London market boosts CLS Holdings’ property values August 13, 2014 CLS Holdings has seen the value of its portfolio surge in the past six months on the back of the economic recovery and strong demand in the London property market. The FTSE 250 property group said pre-tax profits jumped 160 per cent to £72.6m in the first half to 30 June compared with the same [...]
City Moves for 14 August 2014 | Who’s switching jobs August 13, 2014 Now: Pensions Jamie Warren has been appointed head of legal at the independent multi-employer trust. He joins from Capgemini, where he was senior legal counsel. He has also worked as a senior solicitor at Esure Insurance, having qualified at law firm Nabarro. Liberum The investment bank has appointed Anna Hartropp to its banking team. Hartropp [...]
Best of the Brokers for 14 August 2014 August 13, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com HENDERSON GROUP Analysts at Berenberg retained their “hold” rating on the fund management group and a target price on the stock of 230p. The analysts said sentiment in the market was softening, adding the outlook “may be a little more muted” in the [...]
London Report: FTSE is bolstered by doveish Bank data and thin trading August 13, 2014 THE FTSE yesterday ended slightly higher in thin trade, boosted by a doveish message from the Bank of England. Britain’s leading index closed 24.26 points higher, or 0.4 per cent, at 6,656.68 points after a choppy session marked by low trading activity. Shares in G4S, the world’s biggest security company, led advances, up 5.3 per [...]
New York Report: Biotechs help to lift Wall St August 13, 2014 US STOCKS ended higher yesterday as surging biotech shares helped investors shrug off disappointing retail sales data. The Dow Jones industrial average rose 91.13 points, or 0.55 per cent, to close at 16,651.67. The S&P 500 was up 12.97 points, or 0.67 per cent, to close at 1,946.72. The Nasdaq Composite added 44.88 points, or [...]
Mo Farah wins the 10,000m at the European Championships, but how good is he? August 13, 2014 Mo Farah has just won the 10,000m at the European Championships in a time of 28 minutes and eight seconds. But just how good is he? Farah is the reigning Olympic and World champion and his medal cabinet must make for impressive viewing. He has 12 gold medals at the Olympic, World and European Championships, [...]
Scottish independence: Carney says Bank of England has contingency plan if Scots vote yes August 13, 2014 Tha Bank of England is ready for the consequences of a Scottish yes vote and will not abandon the nation, its governor Mark Carney has said. Scottish first minister (and figurehead of the "Yes" campaign), Alex Salmond, has shown his determination to stick with the pound, despite the three main Westminster parties indicating they would [...]
In graphs: Wages show the lowest rate of annual growth since 2001 as unemployment falls August 13, 2014 First the good news: employment continued to rise, according to the latest ONS stats, and the unemployment rate for the three months to June reached an almost six-year low of 6.4 per cent. The last time the headline figure was as positive was back in late 2008. But these rosy stats have been tempered; the [...]
Abenomics on trial: Japan’s economy shrinks at the fastest rate since 2011 August 13, 2014 Japan's economy has felt the sting of sales tax increases. The world's third-largest economy shrank at an annualised rate of 6.8 per cent in the second quarter of the year, the biggest drop since January 2011, when the economy suffered negative growth of 6.9 per cent after the tsunami and earthquake. The dire figures were [...]
UKIP receives more donations than Lib Dems for first time August 13, 2014 For the first time, UKIP has received more than the Lib Dems in party donations. According to the Electoral Commission, UKIP reported being given £1.4m during the second quarter of the year, exceeding the amount that the Lib Dems received by £170,000. A spokesperson for UKIP commented that it was "a sign that [...]