Best of the Brokers for 09 December 2013 December 8, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com PENNON GROUP Barclays has upgraded the group to “overweight” with a target price of 730p after deciding the business would deliver compound dividend growth of seven per cent a year up until 2020. Analyst said this was due to new visibility from its [...]
London Report: Chancellor and Chote set to face MPs’ questions December 8, 2013 CHANCELLOR George Osborne will be back in the spotlight on Thursday as he is quizzed by the Treasury Select Committee about the contents of his Autumn Statement. But Osborne is the not the only one to face a grilling from the committee this week, as Office for Budget Responsibility (OBR) head Robert Chote is likely [...]
Wall St The Week Ahead: US companies lowering latest profit forecasts December 8, 2013 US companies are sounding the alarm on fourth-quarter earnings, lowering profit estimates just as the stock market is poised to end its best year since 1998. The ratio of profit warnings to positive outlooks for the current quarter is shaping up to be the worst since at least 1996, based on Thomson Reuters data. More [...]
Three things you didn’t know about Shawbrook Bank CEO Ian Henderson December 8, 2013 In a new regular feature The Capitalist brings you fascinating facts about City bigwigs. First up, Shawbrook Bank CEO Ian Henderson. 1 A self-confessed “non-petrolhead”, his dream car is his VW Campervan which he uses to drive to music festivals with his kids during the summer. 2 He has a two-year old Labradoodle called [...]
If you really care about the environment you should love fracking. Here’s why December 6, 2013 A report released on Friday by the Centre for Policy Studies (CPS) has found that increasing use of shale gas can massively reduce some of the world's deadliest air pollution. As well as slashing carbon emissions and providing enticing economic prospects the findings of the report should present a compelling case for those who value [...]
Investors are about to get very frightened as US unemployment drops like a stone December 6, 2013 US unemployment has fallen way faster than expected in November. For once that good news is good news to Wall Street. The headline unemployment rate dropped from 7.3 per cent to seven per cent. Analysts had predicted a fall to 7.2 per cent. You might think that this is unambiguously good news for the US [...]
Problems with Natwest online banking? Here’s one way to get round it December 6, 2013 Natwest is having more trouble with its website this afternoon, and has blamed a cyber attack for the problems. If you're having problems accessing your account, this link may work for you. Here's the update it released this afternoon: Due to a surge in internet traffic deliberately directed at the NatWest website, customers experienced difficulties accessing [...]
Cath Kidston to float at £250m in new year December 6, 2013 Cath Kidston is to be put on the market for more than £250m next year, reports Sky News' City editor, Mark Kleinman. The successful retailer, known for its floral, spotty and generally colourful homeware, is considering a new year sale that could see its eponymous founder net at least £50m. The store has confirmed that [...]
E.On announces average price rise of 3.7 per cent for dual fuel customers December 6, 2013 UK energy supplier E.On has announced a rise in its average duel fuel bill of 3.7 per cent effective from January 2014. E.On said the increase in the dual fuel tariff would amount to an extra £48 being added to customers bills. Those on electricity only variable tariffs will also see a 3.7 per cent [...]
Why today’s US jobs number is the most important economic event this week December 6, 2013 Later today, the most important data on the global economic calendar will be released: US nonfarm payrolls. The jobs report will be the most obvious sign yet as to whether – and when – the Fed will begin tapering its $85bn per month quantitative easing programme. The timing of a stimulus cut has preoccupied markets [...]