Esure confirms London float INSURER Esure today fired the starting gun on its main market IPO as it announced plans to list up to half of its shares in London next month. The float is understood to value the company at around £1bn. The offer will comprise £50m of new equity, as well as the partial sale of existing [...]
ITV shareholders in £156m pay day ITV SHAREHOLDERS are in line for a £156m special dividend, as the broadcaster today posted a 13 per cent rise in full-year earnings. The FTSE firm this morning reported adjusted revenues for 2012 of £520m, on total external revenues up three per cent to £2.2bn. Having ended the year with net cash of [...]
FTSE up on Fed boost THE blue chip index rallied this morning, gaining around 0.3 per cent in early deals, as strong sentiment from the US Fed boosted trading. Last night US Federal Reserve chief Ben Bernanke leapt to the defence of its unprecedented QE programme. A slew of positive earnings updates from large-cap companies also lifted investor sentiment. In [...]
UK economy contracted by 0.3 per cent at end of 2012 February 27, 2013 The UK economy contracted by 0.3 per cent in the final quarter of 2012 as originally estimated, according to the Office for National Statistics official estimate out today. Annual growth for 2012 was revised up to 0.3 per cent, up from the original flat estimate, the ONS said. The Office for Budget Responsibility initially forecast [...]
Esure confirms intention to float on LSE February 27, 2013 INSURER Esure this morning confirmed plans to list on the London Stock Exchange in a £50m float. The offer will comprise the sale of new shares and the partial sale of existing stakes held by current investors, including founder Peter Wood. Esure, which owns Sheilas’ Wheels, will float up to half its business in an [...]
EADS posts strong profits February 27, 2013 EUROPEAN defence and aerospace giant EADS benefited from double-digit revenue and profit growth last year, boosted by a strong performance from its Airbus division. Net profit jumped 19 per cent to €1.2bn (£1bn), on revenues 15 per cent higher at €56.5bn. Revenues at aircraft maker Airbus rose 17 per cent to €38.6bn, reflecting strong commercial [...]
Centrica annual earnings jump five per cent February 27, 2013 ENERGY giant Centrica this morning posted a five per cent jump in adjusted earnings, boosted by the colder weather. Centrica, which owns British Gas, reported adjusted earnings of £1.4bn, in line with expectations. Operating profit for the FTSE energy giant came in at £2.74bn, up 14 per cent from the previous year. British Gas, which [...]
Global markets plunge on Italian vote deadlock February 26, 2013 POLITICAL deadlock in Italy sparked a global equity sell-off this morning, sending safe-haven German bond yields sharply lower as it reignited concerns that the Eurozone’s debt crisis strategy is left in chaos. Europe’s third-largest economy and most indebted state faced deadlock after a protest vote left no party or likely coalition with enough seats to [...]
Italian deadlock weighs on FTSE February 26, 2013 The leading share index sank this morning as Italy voted for a hung parliament, which spooked stock markets. Italy faced political deadlock after a protest vote left no party or no likely coalition with enough seats to form a majority. In early trading, the FTSE 100 was down almost 1.3 per cent, with financial shares [...]
West Coast rail fiasco to cost £50m February 26, 2013 TAXPAYERS have been landed with a bill of “£50m at the very least” for the West Coast rail fiasco, according to MPs. The final cost to the taxpayer of the botched West Coast Main Line franchise award could be “very much larger”, a Public Accounts Committee report warned this morning. The Department for Transport [...]
