Numis expects to report year-on-year revenue and profits growth despite IPO volume plunging in UK and globally March 31, 2016 Initial public offerings (IPOs) are helping Numis Corporation grow revenue and profits. In a trading update, the company said it expects to report year-on-year growth in the six months to 31 March 2016. Numis said issuance activity has remained strong during the period and that it has completed 27 equity transactions, including 10 IPOs, so far this [...]
Panmure Gordon reports 2015 losses, but stockbroker is positive for 2016 while wary of “the dangers that lie ahead” March 31, 2016 After a "disappointing" year in which its share price more than halved, Panmure Gordon is looking for the positives. Reporting its 2015 results today, the stockbroker said 2016 has started positively and profitably. But it is "under no illusion as to the potency of the dangers that lie ahead". The figures Panmure posted a £16.7m loss in 2015, from a £1.5m [...]
Prime central London house prices are being outpaced by outer boroughs, says Savills March 30, 2016 Prices of prime London residential properties dipped in the first quarter of the year, as uncertainty around the economic outlook and the EU referendum largely offset any investor or second home buyer rush to beat the buy-to-let stamp duty hike deadline. Values across the whole of prime London slipped by an average of 0.3 per cent in [...]
Why some IPOs aren’t all they’re cracked up to be March 30, 2016 Despite a high number of hotly anticipated flotations in recent years, 2016 has been slow going for initial public offerings. Now the dust has settled, it is interesting to examine the wide variations in performance. Compare Just Eat, Auto Trader, Poundland and AO World. All four came to market in the first few months of [...]
Independent Oil and Gas share price rises after company announces £13.6m of financing to fund acquisitions spending spree March 30, 2016 Independent Oil and Gas (IOG) shares rose sharply today after the company announced it had secured £13.6m for an acquisition spending spree. With financing from London Oil and Gas (LOG), Aim-listed oil group is targeting near-term oil and gas developments and low-risk production assets in the North Sea. The company said it would also consider opportunities outside [...]
Not spicy enough: Premier Foods rejects third takeover offer by US seasonings giant McCormick March 30, 2016 Premier Foods has rebuffed a third takeover approach from US spices giant McCormick, saying the revised 65p per share offer still undervalues the company. The company, however, said it is prepared for meetings to take place in order to discuss "value drivers, a review of material pensions documentation, current trading and material contracts, and so to [...]
World Wealth: The number of millionaires moving to London has slowed to a trickle March 30, 2016 The number of millionaires packing their bags and moving to London from overseas slowed dramatically last year, new research reveals, citing high property prices and the rising cost of living among the reasons. A net 500 millionaires moved into the capital in 2015 compared with 6,000 the previous year, according to wealth specialists New World Wealth's annual Millionaire Migration report. In 2014, around [...]
Fed chair Janet Yellen interest rate comments send mining shares soaring March 30, 2016 US Federal Reserve chair Janet Yellen's dovish coos over future interest rates rises helped send London-listed miners higher today. Yesterday Yellen said that the Fed will "proceed cautiously" when deciding their policy actions in the coming months. Metal prices are slightly down today, however Yellen's comments weakened the greenback making dollar-priced commodities cheaper for holders of foreign currencies. The [...]
Global IPO volume plunges to lowest level since 2009, with technology industry leading the slump, down 77 per cent year on year March 30, 2016 The global initial public offering (IPO) market has plunged to depths not seen since 2009. IPO volume for the first three months of this year, to 29 March, stands at $13.2bn (£9.2bn). This is down 67 per cent on the same period last year. This year has also seen the number of deals fall 38 per cent [...]
Hedge funds think oil prices are going in this direction March 30, 2016 When it comes to the future direction of oil prices, the only way is up, according to some of the world's top money managers. They've amassed a near record number of bets on the price of the black stuff increasing, despite analysts warning the recent rally will peter out. Brent crude, the global benchmark, has bounced over [...]