Earls Court developer Capital & Counties sees share price fall over fears of cooling property market February 24, 2016 Capital & Counties (Capco), the Covent Garden landlord developer behind the £8bn regeneration of Earls Court, posted a 14 per cent jump in the value of its vast London estate last year. However shares in the company nevertheless slumped by eight per cent over fears that cooling demand and an oversupply of prime residential properties in the [...]
McBride’s share price leaps as turnaround plan boosts profits February 24, 2016 Europe’s leading manufacturer of own-brand household and personal care goods McBride cheered investors after reporting a better-than-expected jump in profits, sending shares soaring by 10.2 per cent. The company, which supplies supermarkets with household goods such as washing liquid and dishwasher tablets, posted a 56.3 per cent jump in adjusted pre-tax profits for the six [...]
Panmure Gordon replaces CEO after “tricky” year that saw the share price lose 60 per cent in six months February 24, 2016 Panmure Gordon has replaced its chief executive Phillip Wale with deputy Patric Johnson after a tumultuous year that’s seen the bank’s share price drop by over 60 per cent. The mid-cap specialist investment bank and broker has also secured a £5m loan from its largest shareholder, Qatari investment group QInvest, that it hopes will put [...]
At the close: FTSE 100 index falls as share prices of Standard Chartered and miners including Anglo American and Glencore drop further while housebuilders make gains February 24, 2016 The FTSE 100 index closed lower on Wednesday as the price of oil slid further and miners and Standard Chartered extended losses. The UK's blue-chip index dropped 1.6 per cent to 5,867 points, led lower by Anglo American and Glencore. "European markets tripped up again on Wednesday as volatile moves in the price of oil [...]
Shell shakes up shale gas and oil operations as US chairman Marvin Odum exits February 24, 2016 Shell's US boss Marvin Odum is leaving the company after more than three decades at the firm, spurring the oil firm to shutter its "unconventional resources" division, of which he was director. Odum's exit along with Shell's withdrawal from Alaska and Carmon Creek in Canada has sparked a shake up of the unit which covered shale gas and heavy oil operations and which [...]
Shopping centre giant Westfield pushes ahead with $10.5bn expansion as annual profits rise February 24, 2016 Westfield Corporation, the Australian shopping centre behemoth that owns two of London’s biggest malls, delivered upbeat results for 2015, in its first full-year since splitting its empire into two. The retail landlord, which spun off its Australian and New Zealand operations into a separate business in 2014 to focus on its growing international business, made [...]
US stock markets including Dow Jones and S&P 500 open lower as oil price slides further February 24, 2016 US markets plunged lower as markets opened today, dragged down as the price of oil continued to slide. The Dow Jones Industrial average fell over 200 points in morning trade, while the S&P 500 and Nasdaq dropped over one per cent. Read more: Brexit brouhaha – Sterling slides below $1.39 "The market got overbought up until [...]
EU referendum: In case of Brexit investors should brace themselves for turbulence in equities – particularly if those stocks are affected by European trade February 24, 2016 Last weekend saw David Cameron return from Europe with details of his renegotiated deal for Britain’s membership of the EU. While the date for the referendum (23 June) and the question which the populace will need to answer are now certainties, the implications of a Brexit are still extraordinarily unclear. Many individuals and commentators claim to know what [...]
Hays share price drops as recruiter reports slight rise in net fee growth and profits before tax February 24, 2016 Share price in Hays fell this morning after the recruiter revealed a slight rise in its profits in its half year results. The company reported profits before tax of £82.4m for the six months ended December 2015, up seven per cent compared with £77.3m the year before. Net fees for the recruitment company also inched up, rising [...]
New Scotland Yard’s Middle Eastern owners win approval to replace it with £1bn luxury scheme February 24, 2016 The owners of the New Scotland Yard, the former London home of the Metropolitan police, have won planning permission to turn the 1.7 acre site into a £1bn luxury residential scheme. The Westminster building, which has been home to the Met since 1967, was sold to Abu Dhabi Financial Group (ADFG) for £370m in December 2014 as part of a strategy [...]