City Moves for 31 July 2013 | Who’s switching jobs July 30, 2013 Aviva Investors The asset management business has announced the appointment of Abigail Herron as head of engagement in its global responsible investment team. She joins from Co-operative Asset Management, where she headed its corporate governance function. Baker Tilly Alex Birch has been appointed associate director in the advisory firm’s restructuring and recovery team. Birch has [...]
Best of the Brokers for 31 July 2013 July 30, 2013 JD WETHERSPOON Deutsche Bank has maintained its “hold” rating on the value pub chain but raised its target price from 520p to 660p after better than expected final-quarter figures. The analyst notes improved sales with cautious optimism, although performance has been volatile, with 14 forecast changes in three years. GEM DIAMONDS Charles Stanley has reiterated [...]
London Report: FTSE shrugs off Barclays rights issue to tick up July 30, 2013 UPBEAT earnings from leading companies nudged Britain’s benchmark equity index higher yesterday, enabling the market to offset a slump in Barclays after the bank announced plans for a $9bn capital hike. The blue-chip FTSE 100 index closed up 0.2 per cent, or 10.70 points, at 6,570.95. Engineer GKN topped the leaderboard with a 6.5 per [...]
New York Report: Wall Street flat after shares in potash plunge July 30, 2013 THE DOW and the S&P 500 finished nearly flat yesterday, helped by gains in technology shares and Pfizer, while potash shares were the day’s big losers. The tech sector index rose 0.7 per cent, leading the S&P 500’s advance. Shares of Facebook jumped 6.2 per cent to $37.62, within striking distance of their $38 IPO [...]
Any Other Business – 31/07 July 30, 2013 ■ Eighteen-year-old Gabrielle Turnquest yesterday became the youngest person ever to be called to the UK Bar. The University of Law graduate, originally from Florida, was yesterday admitted to The Bar through the Honourable Society of Lincoln’s Inn. She told The Capitalist that although she had enjoyed her two student years in the capital after [...]
UK consumer confidence hits 39 month high in July July 30, 2013 UK consumer confidence has hit its highest level since April 2010, according to the GfK NOP index which rose by five points in July. Nick Moon, managing director of Social Research at GfK, comments: There is now no doubt that consumer confidence has recovered strongly from the unparalleled trough of the last five years. At [...]
Evraz stops production at Italian mill as steel plate market weakens July 30, 2013 Miner Evraz has announced that it is to stop operations at the Palini e Bertoli plate mill in Italy on 20 August (release). Evraz says that the suspension is expected to last until at least the end of October. EVRAZ Palini e Bertoli remains committed to duly perform under all existing arrangements and will execute all [...]
Investor attacks regulator for being “hostile to banks” July 30, 2013 The head of equities at Barclays' fifth largest shareholder has slammed the UK's financial regulator for being "capricious and hostile to banks". David Cumming, head of equities at Standard Life Investments, has told Reuters that regulators are responsible for a "lack of stability or consistency" in capital requirements. From a taxpayer and investors viewpoint this [...]
French firm may make formal £3.3bn offer for Invensys tomorrow July 30, 2013 French firm Schneider is said to be close to a $5bn (£3.3bn) deal to purchase engineering firm Invensys, according to Reuters. The package offered is unlikely to change from the initial announcement, as no rival bid has emerged. This offer comes a little earlier than expected, with a deadline of 8 August. Shares in Invensys [...]
US consumer confidence fell slightly in July July 30, 2013 Confidence among US consumers contracted in July, with the Conference Board’s indicator falling unexpectedly to 80.3 from a revised 82.1. Analysts had expected a fall to 81.5. But it’s not all bad news. The number of consumers saying business conditions were “good” rose to 20.9 per cent from 19.4 per cent, while those stating conditions [...]