Orders at Kentz surpass £1bn to keep construction firm on track November 18, 2013 FTSE 250-listed construction firm Kentz yesterday said it is trading in line with expectations and reiterated its guidance of double-digit earnings growth this year. The company – which rejected two takeover approaches this summer, including one from larger peer Amec – reported an order intake of $1.8bn (£1.1bn) for the first ten months of the [...]
Northcote Energy on target November 18, 2013 Onshore US oil and gas exploration company Northcote Energy yesterday announced its production levels were up after the successful fracture stimulation of the West Little Drum Well on its 51 per cent owned Horizon Project, Oklahoma. The company said with six other wells due to be fractured it was on track to hit its upgraded [...]
Fastnet and Kosmos plan well November 18, 2013 Fastnet Oil and Gas, the listed company focused on near-term exploration acreage in Morocco and the Celtic Sea, said Kosmos Energy, its partner in the Foum Assaka licence, offshore Morocco, has now provided a technical update on its exploration assets. Kosmos indicated that well planning is underway at the Eagle-1 Well, with a planned target [...]
Gemfields gem prices shine November 18, 2013 Gemfields yesterday announced $16.4m (£10.2m) in sales from an auction of lower quality rough stones in Lusaka, Zambia. The Aim-listed company said that was a record average per carat of $3.32, up 27 per cent on previous auction prices. Chief executive Ian Harebottle said: “Gemfields’ year-to-date auction revenues now stand at $56.4m. This compares favourably [...]
Best of the Brokers for 19 November 2013 November 18, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com FOXTONS Brokers Canaccord Genuity upgraded their recommendation on estate agency Foxtons from hold to buy, with a November 2014 target of 320p. The analysts believe Foxtons can capitalise on a .London web address, boosting the firm’s reputation worldwide and upping its share price. [...]
London Report: Aberdeen Asset Management buy lifts FTSE November 18, 2013 BRITAIN’S top equity index rose slightly yesterday, lifted by a rally in Aberdeen Asset Management and ambitious economic reform plans in China, a key export market for some UK blue chips. Shares in Aberdeen jumped 14.7 per cent, the biggest daily gain in five years, after it bought SWIP, Lloyds Banking Group’s fund management arm, [...]
New York Report: Bearish Icahn sees stocks fall off new highs November 18, 2013 THE S&P 500 and the Nasdaq ended lower last night while the Dow failed to close above its milestone level of 16,000 as stocks sold off late in the session following Carl Icahn’s cautious comments on the equities market. The Dow and the S&P 500 retreated from record levels with less than an hour to [...]
China’s bold reform plan won’t halt growth slide November 18, 2013 Reform of state-owned enterprises may boost productivity but politicised decisions will continue Euphoria over the reform agenda released by China’s Communist Party on Friday helped push global shares to a six-year high yesterday. Chinese stocks listed offshore rose by 6 per cent, their best trading day in two years, while domestic shares increased by 2.9 [...]
Fundamental analysis is a vital weapon –if you keep on top of the data November 18, 2013 AFTER last week’s focus on technical analysis in forex – where I looked at how analysing charts and data trends can assist a trader’s performance – this week, I’ll consider another important element in trading forex: fundamental analysis. Fundamental analysis is the interpretation of statistical reports and economic indicators. Interest rates, employment reports, and the [...]
CNBC Comment: Romania risk hinges on euro fine print November 18, 2013 COUNTRIES once fell over each other to gain membership of the exclusive Eurozone club. But following four bailouts, the rich crowd now looks more like a liability. Romanian Prime Minister Victor Ponta’s face twisted into a wry smile when I asked him if he is waiting to see how the Eurozone appears in several years’ [...]