Fidessa sees market improving April 28, 2014 Fidessa, which provides high performance trading, investment and information solutions, said yesterday it continues to see improvements in trade conditions generated through the sales of its platforms, which it expects will translate into overall revenue growth. In its interim management statement the firm warned that the recovery remained uneven and many of its customers are [...]
City Moves for 29 April 2014 | Who’s switching jobs April 28, 2014 Interactive Investor The execution-only stockbroker has announced the appointment of Linda Summers as chief marketing officer. She was most recently at Skype, where she was director of product and partner marketing. Prior to that, Summers held roles at O2/Telefonica and BT. GLG Partners The investment management firm has appointed Andy Li as co-manager of its [...]
Best of the Brokers for 29 April 2014 April 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DIAGEO Credit Suisse has cut the drinks group from “outperform” to “neutral” with a target reduced from 2,200p to 1,950p. The broker has also lowered its profit forecast for the coming year by eight per cent to reflect weaker growth in the US and emerging [...]
London Report: AstraZeneca has a healing effect on the FTSE 100 April 28, 2014 ASTRAZENECA shares surged to boost Britain’s top share index yesterday, after US rival Pfizer said it wanted to buy the drugmaker. The FTSE 100 closed just off a seven-week closing high after a volatile afternoon session as investors digested new sanctions on Russia from the US. AstraZeneca jumped 14.4 per cent after Pfizer confirmed yesterday [...]
New York Report: US stocks are volatile as tech stocks sold off April 28, 2014 THE S&P 500 ended higher yesterday after a volatile session, as gains in Apple and Pfizer helped offset another round of selling in some high-growth tech shares. The Nasdaq ended slightly lower but rebounded late in the session from a fall of over one per cent. Leading the Nasdaq down was Amazon, which extended Friday’s [...]
One in four people don’t really care about the abolition of stamp duty on Aim shares April 28, 2014 From today investors who buy shares in junior stock market listed companies – the hundreds listed on London’s alternative investment market (Aim)– who will not have to pay the 0.5 per cent stamp duty or stamp duty reserve tax on the shares, making them cheaper to buy and own. The move was introduced by chancellor [...]
In full: Gotham City defends £1bn Quindell raid April 28, 2014 Gotham City Research, the mysterious US short seller who last week wiped nearly £1bn from the value of Quindell following a scathing blog post, explained its actions in an email to City A.M. yesterday. "Gotham City Research is a firm believer of a free society, democracy, and free speech. Consequently, we believe that short selling [...]
Gold ETFs in tug of war between Ukraine fears and US growth April 28, 2014 There has been mixed research on gold today. According to Saxo Bank, gold saw a sixth consecutive week of outflows in exchange traded products last week. Investors traditionally buy gold as a safe-haven asset at times of uncertainty, but ongoing fears about the political crisis in Ukraine have been offset by confidence in the US [...]
Three Green Party policies that would strangle EU growth April 28, 2014 The Green party of England and Wales has kicked off its campaign for May's European elections. The party's leader Natalie Bennett launched the campaign with a pointed attack on Ukip: As far as I can work out, Nigel Farage has entirely written it off so that Ukip has no policies at all. It seems to [...]
This new technology could give you 4pc of your life back April 28, 2014 In Mountain View, California, Google's top dogs are working on what could be one of the most important labour-saving devices of the century. Speaking to The Atlantic Cities, Google's Chris Urmson says that the typical American now spend 52 minutes of each day commuting. That's four per cent of the average American's lifetime – "If [...]