Best of the Brokers for 26 February 2014 February 25, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH AMERICAN TOBACCO Barclays analysts have re-iterated support for the tobacco stock, with an overweight rating and target price of 3,800p. “Although we don’t expect a reversal of either headwind in the near term, we see the Tobacco growth and cash return model [...]
London Report: FTSE dragged back by weak mining sector February 25, 2014 LONDON-listed mining shares fell further yesterday, putting pressure on the blue-chip FTSE 100 index, which snapped a seven-session winning run. Mining shares recorded their biggest one-day slide in a month, amid concern that slower growth and lending curbs on the property sector in China would hurt metals demand. The FTSE 100 index, which touched its [...]
New York Report: Poor housing data prompts shares decline February 25, 2014 US STOCKS edged lower last night, easing back from record territory a day earlier as weak economic data offset gains in Home Depot and other retail shares. Seven out of the 10 S&P 500 sector indexes ended lower, led by industrials while consumer discretionaries led on the upside. Gains in US home prices slowed in [...]
Video: Betfair founder says Bitcoin adoption is “inevitable” February 25, 2014 Ed Wray knows a fair bit about the internet. Having worked at JP Morgan for eight years he co-founded of Betfair in 1999, where he served as chairman until March 2012. He went on to become a non-executive director at crowdfunding site Funding Circle and to invest in taxi app Kabee. We caught [...]
Here’s why MtGox’s statement means nothing at this stage February 25, 2014 Too little, too late from MtGox. That's the verdict from enthusiastic Bitcoin adoptees on the hyper-active Bitcoin subreddit. The leading Bitcoin exchange is alleged to have lost over $300m worth of Bitcoin, or around six per cent of all Bitcoin currently in circulation. Shortly after those reports emerged, the company disappeared entirely. The statement now [...]
Strong demand for European property gets Kennedy Wilson off to a flying start February 25, 2014 There was much excitement this afternoon about the first day's trading in London in the shares of Kennedy Wilson Europe, part of a Beverley Hills, California-based property group that has raised £1.1bn to invest in European properties. Earlier this month the group said it planned to raise between £500-750m from investors but decided to go [...]
Europe votes for world’s toughest carbon targets February 25, 2014 The European Parliament has voted for the world's strictest carbon dioxide standards for new cars, presenting fresh challenges to the auto industry. New cars sold across the EU will now be limited to 95g of carbon dioxide per kilometre. The new standard represents a significant cut from the present limit of 130g per kilometre. The [...]
London’s Gotham City tower is approved February 25, 2014 Plans for a £400m office scheme nicknamed 'Gotham City' have been granted planning permission by the City of London, developer Henderson Global Investors confirmed today. The Make-designed scheme at 40 Leadenhall Street, which was inspired by the same US neo-gothic architect that influenced Tim Burton’s Batman movies, will be one of the UK’s biggest office [...]
What you need to know before the US open February 25, 2014 Housing and retail are in focus today, with figures just in. House prices are still rising, but the pace has moderated a bit. The house price index for December increased 0.8 per cent – a revised figure showed they fell 0.1 per cent in November. The S&P/Case-Shiller indices rose 13.4 per cent in the month. [...]
US regulators consider triple parent embryos to prevent disease February 25, 2014 The US Food and Drug Administration (FDA) is set to consider whether to allow a new fertilisation technique that would combine the DNA of three people, with the aim of preventing genetic disease being passed down to children. Regulators are meeting for a "scientific, technologic and clinical" set of discussions surrounding the new treatment. The [...]