Rob Terry-backed broker Daniel Stewart’ shares suspended from Aim October 1, 2015 Shares in troubled stockbroker Daniel Stewart are to be suspended from London’s junior Aim market, as the broker attempts to secure new funding. The broker, backed by controversial Quindell founder Rob Terry, has had its shares suspended several times recently. The Aim-listed broker’s own broker quit in April after a five-month suspension from the market [...]
Sainsbury’s and Glencore give FTSE 100 a three-digit lift – London Report October 1, 2015 The FTSE 100 enjoyed strong gains yesterday, helped by Sainsbury’s after the supermarket group lifted its full-year profit outlook. The blue-chip index climbed 152.37 points, or 2.6 per cent, to close at 6,061.61. Despite reporting a seventh straight quarter of falling sales, Sainsbury’s shares soared 13.8 per cent. Other supermarkets were also lifted, with Morrisons [...]
Best of the Brokers for 1 October 2015 October 1, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HSBC HOLDINGS UBS upgraded the bank from “neutral” to “buy”, and lowered the target price from 595p to 550p, reflecting earnings downgrades. The broker said it believes the relative risk/reward balance on the shares has shifted to the upside. It added: “While [...]
Lone Star closes in on Wembley Arena owner Quintain takeover after winning huge shareholder backing October 1, 2015 Lone Star closed in on its takeover of Wembley arena owner Quintain last night after announcing that it has won the backing of over 90 per cent of shareholders. The US private equity giant was forced to raise its offer last week after activist hedge fund Elliott gatecrashed the deal at the eleventh hour and [...]
Blossom Hill and Piat d’Or could move Down Under in Diageo deal October 1, 2015 The Alcoholic drinks giant Diageo, which owns Johnnie Walker and Ciroc vodka, is looking to offload its wine division. The move by FTSE-100 listed firm, first reported by Sky News, would likely see wine brands Blossom Hill and Piat d’Or sold off to Australian wine maker Treasury Wine Estates. The deal could be announced as [...]
Saga profits jump after motor unit drives ahead October 1, 2015 Insurer Saga posted a 140 per cent jump in pre-tax profit for the six months to 31 July, up to £101.3m from £42.2m, and announced its first interim dividend of 2.2p. The company, which specialises in products for the over-50s, highlighted its motor business, which saw a 9.7 per cent increase in policies. Trading Ebitda [...]
British business groups signal support European Commission’s “action plan” for capital markets union October 1, 2015 British business groups have largely welcomed a new report from Brussels this week on plans to put together a capital markets union (CMU) by 2019. The European Commission’s “action plan” aims to make it easier for markets across the EU to raise funds from within the Single Market. Sir Jonathan Hill, the European [...]
Here’s what drove British household spending in the second quarter of 2015 September 30, 2015 While Brits went mad for games, toys and hobbies in the second quarter, they were less keen on wine, beer and other tipples. Household spending in volume terms, when adjusted for inflation, increased 0.8 per cent to £2.3bn during this period, according to official data released today. People splurged on the "recreation and culture" sector [...]
Economic well-being: Four charts that show how the UK’s growth compares to its European neighbours September 30, 2015 The UK economy has been growing at a healthier pace than Germany or France over the past year – but its growth can’t match the boom in recovering Spain. New GDP figures released today showed the British economy grew by 0.7 per cent in the latest quarter. But how are we doing in other metrics? [...]
Glencore share price rises after chairman Tony Hayward buys more shares September 30, 2015 This is either a vote of confidence in the company's prospects, or a baby step towards a surreptitious management buyout – either way, one Glencore exec has decided to increase his stake in the commodities miner and trader today. Glencore chairman Tony Hayward has hoovered up an additional 100,000 shares at 91p per share, according to [...]