RWS acquisitions boost revenue December 9, 2013 RWS Holdings, the intellectual property support company, yesterday said full year sales rose 12.5 per cent thanks to acquisitions and organic growth. The business, which snapped up PharmaQuest for £2.2m in may and spent a further £13m to take on the rest of Inovia in September, said sales rose to £77.4m for the 12 months [...]
Kentz’s shares surge on £266m US acquisition December 9, 2013 ENGINEERING firm Kentz saw its share price soar by nearly 13 per cent yesterday after it unveiled a $435m (£265.6m) acquisition of US firm Valerus. Kentz, which was the subject of a failed takeover approach earlier this year, had long said it wanted to grow its engineering arm in order to bid for more engineering, [...]
Kazakhmys sells £790m stake in power station as mine costs rise December 9, 2013 FTSE 250-listed copper miner Kazakhmys yesterday said it has agreed to sell its 50 per cent stake in Kazakhstan’s largest power station for $1.3bn (£790m), as it warned that development of its Bozshakol mine would cost more than expected. The firm also said yesterday that it has hired Shenzhen-listed Non Ferrous China as a second [...]
First Utility partners with Shell to bring down its energy costs December 9, 2013 IN A bid to break the stranglehold of the big six, independent energy supplier First Utility yesterday said it has secured a partnership with Shell Energy to get better deals from the wholesale market. Under the new five to 10 year deal, energy giant Shell will act as an intermediary for First Utility, using its [...]
Tullow shares slide on dry Ethiopian well December 9, 2013 FTSE 100-listed Tullow Oil’s share price slumped over three per cent yesterday, after the energy explorer said it would plug and abandon a dry well in Ethiopia. The company said it would now analyse the results of both the Tultule-1 well and the neighbouring Sabisa well in the South Omo block, to determine the future [...]
City Moves for 10 December 2013 | Who’s switching jobs December 9, 2013 AshurstThe law firm has hired Francis Kucera as a partner in its capital markets practice. He joins from Linklaters, where he was co-head of its Central and Eastern Europe office and the Commonwealth of Independent States region, and co-managing partner of Linklaters' Warsaw office. RBC Capital MarketsThe corporate and investment banking arm of the Royal Bank [...]
Best of the Brokers for 10 December 2013 December 9, 2013 SUPERGROUP Numis retains its hold rating for Supergroup, with a target price of 1,100p, ahead of the firm’s half-year results on Thursday. Analysts said they continue to have concerns over the longevity of the brand in the UK, but it is hard to argue with the consistent like-for-like sales delivery. DOMINO’S PIZZA Panmure Gordon has [...]
London Report: Vodafone lifts FTSE as mining shares weaken December 9, 2013 FTSE 100 heavyweight Vodafone helped lift Britain’s benchmark equity index yesterday, as gains in the telecoms group offset weaker mining stocks that had earlier pegged back the market. Yet despite the late rally, some traders expressed doubts over whether the FTSE 100 would end 2013 at a record 7,000 points as some investors have previously [...]
New York Report: S&P 500 hits a record high as rally continues December 9, 2013 US STOCKS edged higher yesterday, with the S&P 500 closing at a record high last night, as traders awaited more clues from the Federal Reserve on whether the it would soon begin winding down its economic stimulus. Volume was light and a volatility index fell, signalling calm among traders. The Dow industrials traded within 43.11 [...]
Any Other Business – 10/12 December 9, 2013 Another Dragons’ Den reject rises to the top – with two ex-City boys riding high. Recipe box delivery startup Gousto has just closed a $2m investment, led by MMC Ventures. Co-founder Timo Schmidt, a former analyst at Rothschild and ex-vice president of hedge fund Petrus Advisers, told The Capitalist how his time in the City [...]