Pennon raises dividend on the back of robust first half of 2019 November 26, 2019 Pennon, which owns waste management firm Viridor and utility supplier South West Water, said it had posted a “robust” set of results for 2018 as the firm raised its shareholder dividend. Read more: Compass Group shares sink as catering unit is undercooked The figures Pennon’s profit rose 0.8 per cent in the half ending 30 [...]
IPOs – no sure thing? November 26, 2019 | City Talk IPOs always attract plenty of attention, particularly when they are of highly-recognised companies. But are they a wise destination for investor cash? IPOs offer plenty of glamour, a change from the usual stocks in an index, and there have been plenty of new entrants to the UK stock market over the past ten years. Some [...]
FTSE 250 hits highest level in 15 months as Conservatives maintain poll lead November 26, 2019 The FTSE 250 nudged up 0.2 per cent this morning to 20,740, reaching its highest level since August 2018. The London index rose on the back of growing investor confidence that the Conservatives will win December’s General Election, after polls showed the party had maintained a healthy lead over Labour. Russ Mould, investment director at [...]
Alibaba IPO: E-commerce giant’s shares jump on blockbuster Hong Kong debut November 26, 2019 Alibaba, the Chinese online retail giant, has enjoyed a surge in its share price after floating on the Hong Kong stock exchange, in one of the year’s most hotly anticipated Initial Public Offerings. The firm, which is already listed in the US, raised around £8.8bn in its secondary listing, with chairman Daniel Zhang cheering on [...]
Green Bonds vs. Traditional Bonds November 26, 2019 | City Talk Are environmental, social, and governance (ESG) investing returns higher, lower, or the same as those of comparable traditional investments? This question is the source of constant debate. Because ESG investing integrates non-traditional sources of risk that are not always priced by the market, some theorize that ESG approaches might generate higher returns than traditional assets. Contrasting green and non-green [...]
Tackling UK productivity crisis could yield £83bn a year for economy, says PwC November 26, 2019 The UK productivity crisis is dragging on the economy, a new report has said, which could be £83bn a year larger if laggard areas could make up just half the efficiency gap. The next government has a major opportunity to increase investment in infrastructure and encourage the private sector to better train its workers to [...]
National Grid pays $35m penalty but avoids losing New York license November 25, 2019 National Grid has reached an agreement with New York state to end its supply moratorium for customers in Brooklyn, Queens and Long Island, a day before governor Andrew Cuomo’s deadline to do so. The company will also make $7m (£5.4m) available to assist customers affected by the moratorium, as well as committing $28m more for [...]
Mitsubishi beats Shell to purchase of Dutch energy supplier Eneco November 25, 2019 Dutch energy supplier Eneco this morning confirmed that it would be acquired by a Mitsubishi-led consortium for €4.1bn (£3.5bn). The deal will give Mitsubishi 80 per cent of the company, with fellow Japanese power firm Chubu taking the remaining 20. Read more: Shell picks Citi bank for $1bn sale of Egyptian oil assets The group [...]
Germany on track for growth as confidence rises, says Ifo institute November 25, 2019 The German economy is set to grow by 0.2 per cent in the second quarter, the country’s Ifo economic institute has predicted, as executives became slightly more optimistic in November. However, it is too early to say the struggling German economy is turning around, with confidence falling in its important manufacturing sector, according to the [...]
BHP becomes largest shareholder in Ecuador-focused Solgold November 25, 2019 BHP will become the largest shareholder in Ecuador-focused mining company Solgold, with approximately 14.7 per cent of the firm’s share capital. The Anglo-Australian company will raise its stake from 11 per cent by purchasing 77m new shares for $21.9m (£17.1m) for 22.2p. Read more: Anglo Australian miner BHP appoints new global chief executive Shares in [...]