‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Marks & Spencer’s share price jumps as retailer finally breaks 14-quarter decline in general merchandise April 2, 2015 The numbers Marks and Spencer has recorded its first growth in general merchandise – the division heavily focused on clothing – in 14 quarters. The like for like growth of 0.7 per cent for the three months to March 28 brings to a close a two-and-a-half-year downwards spiral that has plagued chief executive Marc Bolland's tenure. [...]
From Aldermore to Autotrader, flotation fever’s back as IPO returns jump to 8.1 per cent April 1, 2015 The 10 UK stock market floats conducted this year have generated an average return of 8.1 per cent, according to figures released yesterday by financial services firm Deloitte. As of 31 March, these 10 initial public offerings (IPOs) – which include challenger bank Aldermore and Autotrader – had outperformed the FTSE 100. Their 8.1 per cent [...]
StanChart loses another top exec just weeks after board shake-up April 1, 2015 Group executive director Viswanathan Shankar resigned from his board role at Standard Chartered yesterday. The announcement of his departure comes a month after the bank revealed chief executive Peter Sands and chairman Sir John Peace were also on their way out. Shankar was also chief executive for Europe, the Middle East, Africa and the Americas, [...]
Sanne share price rises 10 per cent on its first day of trading after IPO April 1, 2015 Shares in corporate administration provider Sanne Group surged on their debut yesterday, opening at 221p per share, a 10 per cent premium on its listing price. The company raised £142m when it floated last Friday in a move which valued the company at £232m. Previous majority holder Inflexion Private Equity said the initial public offer [...]
Shawbrook share price picks up after successful stock market flotation April 1, 2015 Challenger bank Shawbrook enjoyed a successful stock market debut yesterday, as its share price rose by as much as 6.5 per cent. The lender joined rivals, including Virgin Money and Aldermore among recent floats in the sector. Shawbrook’s shares priced at 290p, but rose as high as 308.75p in trading, before settling back to 302.5 [...]
Quindell admits it got its sums wrong on Slater & Gordon deal to the tune of £13.5m following share suspension April 1, 2015 The mystery of this morning's decision to suspend trading in Quindell shares has been solved, after the troubled insurance claims processor admitted it had understated the amount its professional services division contributed to the company, to the tune of £13.5m. Shares were restored this afternoon after the company posted a statement several hours after its [...]
Controversial Grangemouth bosses Jim Ratcliffe and Calum MacLean fall out after 16 years of building an empire together at Ineos April 1, 2015 Billionaire industrialist and Ineos chairman Jim Ratcliffe is to sue his former lieutenant Calum MacLean in a multi-million pound dispute, City A.M. understands. The row is centred on claims that Ratcliffe’s former close colleague of 16 years poached one of his finance directors. The ground is set for a bitter legal battle between the [...]
Quindell suspends trading in its shares on Aim April 1, 2015 Quindell has suspended trading in its shares on Aim "pending an announcement", it said today. The London Stock Exchange issued a notice saying it had taken the decision to cancel 126 trades made between 9.40am and 9.42am, equating to a volume of 403,512. UPDATE: Quindell shares resume trading, mystery of share suspension is solved Shares [...]
Challenger bank Shawbrook prices shares at top of range on IPO April 1, 2015 Challenger bank Shawbrook may be late to the IPO party, but that hasn't prevented it from getting its flotation off to a running start, after it priced shares at 290p each, near the top of its range of 255p-305p on its first day of conditional trading. The pricing valued the bank at £725m, raising £90m [...]
FirstGroup gets back on track with UK bus and rail transformation plan April 1, 2015 FirstGroup has faced a difficult couple of years, but its focus on transforming UK bus and rail operations is starting to pay off. The figures In a trading update posted today, the train and bus operator said it expects full-year growth across all its UK offerings, in line with expectations. It said it had [...]