Dragon Oil proposal lights fire under Petroceltic share prices October 6, 2014 DRAGON Oil has proposed an offer of 230p per share for Irish oil and gas exploration company Petroceltic, which confirmed yesterday that it was in “detailed discussions” concerning a deal. Petroceltic’s share price soared by over 22 per cent following the announcement, which valued the company at £492m, while Dragon Oil’s fell by 1.5 per [...]
Government’s Direct Lending Fund helps Carillion win contract October 6, 2014 THE UK Export Finance yesterday announced the first contract to receive a loan from the Direct Lending Facility (DLF) would go to construction giant Carillion. The availability of a £34m loan from the DLF has helped Carillion to secure a significant contract with Dubai World Trade Centre to provide construction services. Under the DLF, the [...]
Kazakhstan government returns to bonds with $2.5bn debt sale October 6, 2014 OIL-RICH Kazakhstan yesterday announced it was selling 10-year and 30-year US dollar debt to investors, marking the central Asian state’s return to the bond market after a break of more than 14 years. Russia’s neighbour, which is also a major exporter of industrial metals, uranium and grain, will price the 10-year paper at an implied [...]
Waste water treatment deal for Gibraltar October 6, 2014 The government of Gibraltar has appointed a joint venture between Northumbrian Services and Modern Water to construct a new waste water treatment plant. Modern Water is lead contractor on the design and build of the plant with a current contract value of around £22m, which is higher than the firm’s market cap of £21.7m.
City Moves for 7 October 2014 | Who’s switching jobs October 6, 2014 Brooks Macdonald International (BMI) The investment manager has appointed Darren Zaman as chief executive of its offshore business. He was chief executive of DPZ Capital, a wealth management firm acquired by BMI in April. Zaman has also held roles at HSBC Investments and Le Masurier James and Chinn. BTMU Masato Miyachi has been promoted to [...]
Best of the Brokers for 7 October 2014 October 6, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com MODERN WATER Numis reiterated its “buy” rating with a target price of 62p. Modern Water announced its largest ever contract yesterday, as preferred bidder to design and build a wastewater treatment plant in Gibraltar. The broker said this was “clearly a very important [...]
Banks lead the pack as FTSE bounces back – London Report October 6, 2014 GAINS in major bank stocks led Britain’s benchmark equity index higher yesterday, and troubled supermarket group Tesco rose after new board appointments. The blue-chip FTSE 100 index, which fell to its lowest closing level in nearly a year last week, closed up by 0.6 per cent, or 35.74 points, at 6,563.65 points. Among the financials, [...]
Wall St slips as traders look to earnings’ data – New York Report October 6, 2014 US SHARES yesterday fell in choppy trading, with traders nervously eyeing the start of earnings season, while the S&P 500 failed to remain above a key technical level. The Dow Jones industrial average fell 17.78 points, or 0.1 per cent, to 16,991.91, the S&P 500 lost 3.08 points, or 0.16 per cent, to 1,964.82 and [...]
DHL apologises for using Jules Bianchi crash to get “likes” on Facebook October 6, 2014 DHL has apologised for a Facebook post which used the life threatening crash of F1 driver Jules Bianchi to ask for “likes”. Many fans of DHL on Facebook were outraged by the post which said “by clicking ‘Like’ on this occasion, you’ll be sending Jules your best wishes for a speedy recovery.” French [...]
Facebook fake “likes”: Social media giant vows to “aggressively get rid” of scam artists October 6, 2014 Facebook says it will "aggressively get rid of" companies and brands paying for fake "likes" on the social media site. Brands buy "likes" from fake pages from websites such as buy-facebooklikes.co.uk and socialmadness.co.uk in order to make their products seem more popular. Facebook has already won nearly $2bn (£1.25bn) in legal judgements against the spammers and [...]