Best of the Brokers for 09 May 2014 May 8, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com HAYS Panmure Gordon sticks with its “hold” rating but hikes its target price from 151p to 155p to reflect a stronger recovery in the recruitment firm’s British business. However, weakness in Asia is likely to weigh on Hays’ stock for now, the broker adds. [...]
London Report: Morrisons forecast and plans for cuts at Barclays lift FTSE May 8, 2014 BRITAIN’S top shares neared nine-week highs yesterday led by Barclays after it announced a revival plan, while investors also welcomed the possibility of more stimulus steps from the European Central Bank in June. Barclays was the standout gainer on the FTSE 100, up 7.9 per cent after it announced 19,000 job cuts in the next [...]
New York Report: Energy losses drag on stocks May 8, 2014 STOCKS mostly fell yesterday with the S&P 500 and the Nasdaq closing lower, led by losses in the energy and utility sectors. The Nasdaq ended lower for a third straight session, its longest losing streak since early April. A turnaround in beaten-down internet stocks had boosted the Nasdaq earlier, while a drop in initial jobless [...]
Randgold Resources chief calls for industry overhaul to focus on profits May 8, 2014 The chief executive of FTSE 100-listed mining giant Randgold Resources today said the industry is operating in an unsustainable way and called for a greater emphasis on profits. “We should all practice being real businessmen and focus on profits,” Mark Bristow told reporters. “This industry cannot continue the way businesses are structured and operated.” He [...]
Mario Draghi knows about the tie guesses May 8, 2014 Earlier today, Mario Draghi’s numero uno press man Michael Steen caused a storm on Twitter by posting a photograph of Mr Draghi ahead of his European Central Bank policy decision meeting, because it revealed the colour of his tie ahead of time. To the uninitiated it might sound a bit loopy but each month [...]
Why Barclays thinks investors need to go for diamonds May 8, 2014 Barclays is feeling pretty positive about the possibilities diamonds are offering investors. With the tide turning when it comes to Chinese growth, a strong dollar and worries over the health of emerging market economies, diamond demand is resurging, it says. Demand growth for diamonds arrives relatively late in an economic cycle, post job creation [...]
That bonus hike was all part of Barclays’ grand plan May 8, 2014 Remember when Barclays increased investment bankers’ bonuses even as profits fell? It went down pretty badly with investors when the 2013 results were announced back in February. At the time chief executive Antony Jenkins could only say that he had to pay more so that staff would stay at Barclays instead of jumping [...]
Heathrow’s new boss tried to launch a beer energy drink, and other important facts May 8, 2014 Heathrow Airport confirmed this morning that John Holland-Kaye, its development director, will take over from Colin Matthews as chief executive in July. Europe’s busiest airport said Holland-Kaye, who has worked for Heathrow since 2009, has played a big role in revamping Terminal 2 as well as planning for a possible third runway. Here [...]
Emerging markets now make up more than half the world economy (and no one noticed) May 8, 2014 Emerging markets now make up more than 50 per cent of the world’s GDP – a fact many missed this week, and Ashmore’s head of research Jan Dehn flags up today. A lot of people paid attention to the fact that China is about to surpass the US as the world’s biggest economy (by [...]
London faces chaos as black cabs go head to head with Uber May 8, 2014 London's black cabs are on the war path against innovative taxi app service Uber, promising to cause widespread disruption across the capital in early June. The Licensed Taxi Drivers Association (LTDA) argue that Uber's drivers are using an app to calculate fares. It is currently illegal for private vehicles to be equipped with taximeters. However, [...]