Best of the Brokers for 11 July 2014 July 10, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AVIVA Morgan Stanley has reiterated its “overweight” rating on the insurer, with a target price of 568p. The broker thinks there is scope for further upside as Aviva is in the early stages of a multi-year turnaround, with shares not reflecting its medium [...]
London Report: FTSE spooked by euro market fears and LSE stake sale July 10, 2014 UK STOCKS yesterday retreated, with the FTSE 100 index posting its worst four-day slump since January, as London Stock Exchange (LSE) slid while banks extended losses. The FTSE 100 lost 45.67 points, or 0.7 per cent, to 6,672.37, extending its decline this week to 2.8 per cent. The broader FTSE All-Share Index also slid 0.7 per [...]
New York Report: Portugal bank crisis hits NY July 10, 2014 US STOCKS dropped yesterday as concerns about the financial health of Portugal’s Espirito Santo bank gave investors a reason to cash in gains. The Dow Jones industrial average fell 70.54 points or 0.42 per cent, to 16,915.07. The S&P 500 slid 8.15 points or 0.41 per cent, to 1,964.68. The Nasdaq Composite dropped 22.83 points [...]
11 July on this day… July 10, 2014 1982: ITALY’S Marco Tardelli celebrates scoring his side’s second goal in the World Cup final against West Germany. Italy won 3-1 in front 90,000 fans at the Santiago Bernabeu Stadium in Madrid and their captain and goalkeeper Dino Zoff become the oldest player to win the tournament, aged 40. It was Italy’s third World Cup [...]
Ayaar can give Dettori third Bunbury Cup July 10, 2014 NEWMARKET’S July Meeting got underway yesterday. It’s always competitive stuff and not the easiest place to find a winner, but I have two strong fancies today. INTEGRAL was a winning tip for us at Royal Ascot in the Duke of Cambridge Stakes last month. And she didn’t just win, she absolutely coasted home from a [...]
World Cup Final: Germany v Argentina July 10, 2014 WE WON’T be treated to the Brazil versus Argentina World Cup final that so many neutrals were looking forward to, after Germany crashed the party in some style on Tuesday. It’s been a tournament of two halves with the group stages providing goal after goal and the knockout stages seeing teams shut up shop – [...]
Fat Face boss keeps the float dream alive July 9, 2014 FAT FACE chief executive Anthony Thompson would not rule out a second attempt at listing shares in London yesterday, just weeks after market nerves forced the retailer – whose casual clothes are modelled above – to abandon plans for a £300m-plus flotation. Thompson said the firm would have “to see what happens”.
Strikes in Greece over privatisation July 9, 2014 Public sector workers in Greece held a 24-hour strike yesterday, while the government narrowly passed a part-privatisation of the country’s biggest power company. About 30 per cent of the Public Power Corp (PPC), will be sold next year. There was significant opposition to the move, with 51 politicians voting in favour and 46 against.
Bank of England’s Minouche Shafik defends record July 9, 2014 Incoming deputy governor at the Bank of England, Minouche Shafik, was yesterday forced to defend her record, insisting she does have enough experience for the job. The ex-International Monetary Fund (IMF) troubleshooter faced a grilling from MPs for lacking policymaking experience. But she told the Treasury Select Committee that she worked closely with troubled nations [...]
Hedge fund deal for American Apparel July 9, 2014 AMERICAN Apparel last night reached a deal with hedge fund Standard General for $25m (£14.57m) to strengthen its finances. The retailer suspended chief exec Dov Charney over alleged sexual misconduct last month, and creditor Lion Capital has called in a $10m loan. Shares in the firm jumped four per cent in after-hours trading.
