Canary Wharf housing scheme given green light by London council July 22, 2014 Caanry Wharf Group was yesterday given the green light to convert a 20-acre semi-derelict site next to its east London estate into more than 3,000 homes, as well as shops and offices that will target fast-growing media and technology firms. Tower Hamlets council gave outline planning consent for the company’s Wood Wharf scheme.
Best of the Brokers for 23 July 2014 July 22, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TOUMAZ GROUP Peel Hunt has maintained its “buy” rating, with the target price set at 8.3p. The broker believes Toumaz has a strong pipeline for its wireless vital signs monitoring patch developed by its Sensium Healthcare subsidiary, with good potential to develop high [...]
London Report: FTSE rises as rebels move to hand over MH17 black boxes July 22, 2014 THE UK’S top equity index rallied yesterday, lifted by technology group ARM, which rose after posting higher profits. The FTSE 100 added 66.90 points or 0.99 per cent to 6,795.34, while other global markets also moved higher on news that pro-Russian rebels in Ukraine had complied with western requests to hand over the black box [...]
New York Report: Chipotle adds spice to Dow July 22, 2014 SOLID earnings for a range of big companies yesterday helped to nudge New York higher, with restaurant chain Chipotle Mexican Grill and cable giant Verizon surging after reporting better-than-expected results. The Dow Jones industrial average rose 61.81 points, or 0.4 per cent, to close at 17,113.54, while the S&P 500 index added 9.90 points, or [...]
Value stocks: A canny investor’s choice July 22, 2014 There is a long-running tug of war between two styles of investing: value and growth. The former sees investors select stocks with an intrinsic value. The definition varies, but tends to focus on companies with lower valuations and higher dividend yields. Growth investing is when investors tend to select stocks with growth potential, with valuation [...]
Karl Albrecht obituary: Aldi co-founder dies aged 94 July 21, 2014 Karl Albrecht, the billionaire co-founder of the Aldi discount supermarket chain, died on Wednesday 16th July, aged 94. The growth of Aldi, the name of which is a contraction of Albrecht Discount, made Karl Germany’s richest man, and 24th richest in the world, with an estimated fortune of $25.9bn (£15.2bn), according to Forbes. Karl, who [...]
Dave Lewis: Tesco banks on first outsider in its 95-year history. Will he make a difference? July 21, 2014 Tesco’ incoming boss Dave Lewis will have no easy task on his hands when he takes the reins at the UK’s biggest retailer and the world’s third largest chain in October. But while he lacks the Tesco genes that Philip Clarke had from spending 39 years at the grocer, Lewis makes up for it in [...]
City Views: Where do you think Tesco went wrong and what is your view on the CEO change? July 21, 2014 PAUL O’REILLY | VIRTUAL 1 I believe that Tesco should get rid of sections such as gardening and homeware. Also, Tesco was wrong to introduce auto-checkouts, as it needlessly cut of hundreds of jobs. I have no view on the CEO change other than I hope he will improve the company. RICHARD HILL-TOUT | SAUL TRUSTEE COMPANY [...]
Tullow Oil abandons dry well in North Sea July 21, 2014 Tullow Oil, the fourth-largest London-listed energy explorer, yesterday said it will plug and abandon a well in the Norwegian North Sea, after failing to strike oil. Tullow operates the well and owns a 60 per cent stake. “This will not reassure investors following the $415m (£243m) exploration write-off announced by the company in July,” said [...]
Best of the Brokers for 22 July 2014 July 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ITV Deutsche Bank has maintained its “hold” rating, upping the target price to 205p from 195p. The broker thinks Liberty Global will likely seek to increase its stake in ITV in future, and that further stake purchases and bid speculation should support ITV, [...]
