Tough Australian job market sparks Page warning October 14, 2013 RECRUITER Michael Page yesterday said third-quarter profits in its Australia and New Zealand business fell by 20 per cent, hit by a slowdown in the region’s mining sector. The FTSE 250-listed firm also announced that its finance chief would be leaving after just 18 months in the role. No reason was given for the surprise [...]
PSA shares slump on reports of capital talks with Dongfeng October 14, 2013 SHARES in PSA Peugeot Citroen fell as much as 10 per cent yesterday after reports it was preparing a €3bn (£2.5bn) capital increase in which Chinese partner Dongfeng and the French state would secure stakes in it. A draft agreement, which Peugeot hopes to conclude this year, would envisage state-owned Dongfeng Motor and the French [...]
Numericable hunts for investors as it gears up to float in France October 14, 2013 FRENCH cable operator Numericable kicked off marketing its planned Paris listing to potential investors yesterday, according to an offer document. The company said last month it planned to sell 20 to 40 per cent of its capital in an initial public offering, including raising between €200m and €250m (£169.7m and £212.2m) from the sale of [...]
Fastjet expands flights overseas with new Johannesburg route October 14, 2013 FASTJET, the budget African airline backed by EasyJet founder Sir Stelios Haji-Ioannou, yesterday announced long-awaited plans to charter its first international flight service. The London-listed company will start offering flights from Tanzania to South Africa, nearly a year after the company first got off the ground with internal flights in Tanzania to top tourist spots [...]
Kentz wins new Qatar contract October 14, 2013 FTSE 250-listed engineering firm Kentz yesterday said it has been awarded a contract with Qatar Shell GTL for services at the Pearl gas-to-liquids plant in Qatar. The agreement will last three years. “Kentz was awarded its first contract on the Pearl GTL plant back in 2006 and we are delighted to continue our strong working [...]
Balfour Beatty awarded US deal October 14, 2013 Infrastructure group Balfour Beatty yesterday unveiled a new £77m contract that will include building a bridge over the Cape Fear River in North Carolina. On behalf of the North Carolina Department of Transportation, the FTSE 250-listed firm will build around 1.5 miles of a four-lane road in the state and ten bridges. The project, which [...]
Nord Gold output rises by 26pc October 14, 2013 Russian gold miner Nord Gold yesterday said its revenues rose one per cent in the third quarter to $325m (£203m) year-on-year, as higher gold production offset lower global prices. Nord Gold, controlled by businessman Alexei Mordashov, said its output increased by 26 per cent, but the average gold price fell 21 per cent to $1,325 [...]
City Moves for 15 October 2013 | Who’s switching jobs October 14, 2013 International Valuation Standards Council The professional body for the valuation sector has announced the appointment of April Mackenzie as chief operating officer. She is currently global head of governance and public policy at Grant Thornton. BDO Stuart Deacon has joined the accountancy and business advisory firm as a restructuring mergers and acquisitions (M&A) partner in [...]
Best of the Brokers for 15 October 2013 October 14, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com TRAVIS PERKINS Bank of America Merrill Lynch raised its target price from 1460p to 1900p and changed its rating from “underperform” to “buy” in a double upgrade that sent shares up nearly five per cent yesterday. The broker believes the builders’ merchant is [...]
London Report: FTSE led higher by new Johnson Matthey boost October 14, 2013 THE FTSE 100 inched higher yesterday, led by catalytic converter maker Johnson Matthey on the back of an analyst rating upgrade, while the slow progress in US debt talks kept any broad market gains in check. The FTSE 100 closed up by 20.46 points, or 0.3 per cent, to 6,507.65 points, having climbed 2.4 per [...]