Natlata may back Petroneft deal April 22, 2014 Shares in Aim-listed Russian oil explorer Petroneft surged yesterday, after its largest shareholder Natlata indicated that it may support a recently-agreed farm-out agreement with Oil India. “If the deal is as attractive as suggested, Natlata would consider supporting it,” it said. But Natlata added that further details were lacking on the deal and urged for more [...]
City Moves for 23 April 2014 | Who’s switching jobs April 22, 2014 HSBC Private Bank Oliver Gregson has been appointed head of private bank investment group, UK and Channel Islands, at HSBC Private Bank. He joins from Barclays Wealth, where he was head of discretionary portfolio management. Gregson has also held roles at UBS and Citi Private Bank. State Street Global Advisors The asset management firm has [...]
Best of the Brokers for 23 April 2014 April 22, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ENERGY ASSETS Numis gives Energy Assets an “add” rating and target price of 380p after the firm’s acquisition of the electricity metering business BGlobal for £2.3m on a debt free basis. Numis says the deal “provides the opportunity to cross-sell electricity metering services [...]
London Report: Glaxo pharma deal puts FTSE market on high April 22, 2014 CORPORATE activity in the pharmaceutical sector yesterday pushed Britain’s benchmark stock index to a two-week high and to within sight of a peak for the year so far. Drugmaker AstraZeneca rose 4.7 per cent, with trading volumes in the stock more than three times its 90-day average, after the Sunday Times reported a £60bn approach [...]
New York Report: Good earnings and drug deals lift Wall Street April 22, 2014 US stocks rose yesterday as a host of solid earnings reports, along with strength in the healthcare sector, helped lift the S&P 500 and Nasdaq to their sixth straight advance. Netflix surged seven per cent a day after showing strong subscriber growth, a sign the trading favourite still had room to grow despite recent concerns [...]
Why the British love of greeting cards could help this company float on the stock market April 22, 2014 What employs 100,000 people around the country, has sales of £1.6bn and is stocked by one in six retailers around the country? No, not booze, it’s greeting cards. One of the biggest players in the sector, The Card Factory, this morning unveiled plans to float on the stock market. The company has used the British [...]
Deflation is already a reality for a quarter of prices in the Eurozone April 22, 2014 The European Central Bank (ECB) has repeatedly insisted that it does not see deflation as likely for the Eurozone – but new research indicates that falling consumer prices are already a reality for almost a quarter of items in the basket used by the ECB to measure inflation. Jefferies International tracks the items included in [...]
Investor risk appetite for European property set to keep growing this year April 22, 2014 Investor appetite for risk is set to keep rising throughout 2014 after helping to push deal volumes in the European property market to a five-year high last year, according M&G Real Estate. The fund manager’s latest market outlook predicts that this year will be at least as active as 2013, when transaction volumes topped €80bn [...]
Forget Twitter, why Weibo is the social stock to watch April 22, 2014 Last week’s US float of Chinese social network Weibo – think a hybrid of Twitter and Facebook – saw investors rush into the stock buoying it 33 per cent in the first two days of trading. One of the reasons for this is Weibo looks like a great deal for those hoping to capitalise on [...]
London’s top six Airbnb rentals April 22, 2014 New York Attorney General Eric Schneiderman really doesn’t like Airbnb. He’s meeting the holiday rental company in court today, as Schneiderman wages war on what he describes as “illegal sublets” which appear on the site. Airbnb has already removed thousands of New York-based lets in a bid to appease Schneiderman, who has issued a [...]