TDR Capital wants a slice of PizzaExpress amid Chinese takeaway interest July 3, 2014 British private equity firm TDR Capital was yesterday said to have launched a secret bid to buy back PizzaExpress, in which it owned a stake in between 2003 and 2007, amid takeover interest from China. Sky News reported that TDR Capital was one of a number of parties which this week tabled offers to buy the [...]
Pub giant Greene King lifts a glass to record profits July 3, 2014 Pub and brewing giant Greene King yesterday reported record annual sales and profit. The company said its revenues were up 6.9 per cent to £1.3bn and its pre-tax profit was up 7.4 per cent to £158.2m. The group added 48 new sites during the year as part of a five-year plan to increase its estate [...]
Boris Johnson’s sale of London police buildings frees up £125m and housing space July 3, 2014 London mayor Boris Johnson yesterday hailed the better-than-expected sales of under-used police buildings across the capital, which had raised £125m – more than three times the estimate. The figures, in the second annual report of the mayor’s office for policing and crime, showed that 32 no longer operational buildings were vacated and sold in 2013/14 and [...]
Enegi finds oil in North Sea July 3, 2014 Oil and gas explorer Enegi yesterday said it had found oil in the Central North Sea. The Aim-listed company said that seismic and well test results from the licence area encompassing the Phoenix Field were “very encouraging” and proved the presence of an oil-bearing reservoir around a previously drilled well. Under a farm-in agreement, Strike, [...]
Iron ore miner to hit targets July 3, 2014 IRON ore miner African Minerals saw its share price soar over six per cent yesterday, after it said it was on track to meet full-year export guidance and that production from a mine in Sierra Leone could start as early as next year. The Aim-listed company, which was founded by Frank Timis, the colourful former [...]
Liontrust Asset Management hits the high notes with solid inflows July 3, 2014 LIONTRUST Asset Management yesterday announced a 37 per cent drop in net inflows year-on-year in the three months to the end of June, but an increase in total assets under management. The fund management group revealed that net inflows this year were £190m, compared to £302m during the same period last year. The inflows last [...]
Burford Capital investments nearly double the firm’s cash July 3, 2014 BURFORD Capital, which provides finance solutions for litigation, said yesterday that it had generated $41.9m (£24.4m) in cash from its investment portfolio in the first six months of the year. This figure represents a 94 per cent increase compared to the same time last year. The company said its 26 investments in the period generated [...]
Best of the Brokers for 04 July 2014 July 3, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BP UBS has kept its “neutral” rating on the oil giant, raising the target price to 540p from 525p. UBS thinks BP has been effective in recalibrating strategy by prioritising shareholder value, but has concerns about whether long term opportunities will match the [...]
London Report: FTSE nears record 7,000 level after USA jobs surprise July 3, 2014 LONDON’s top share index yesterday edged ever-closer to breaking its 1999 record – and the 7,000 point mark – after fresh batch of strong US jobs data and supportive rhetoric from the European Central Bank. The blue-chip FTSE 100 closed 48.84 points higher, or 0.7 per cent, at 6,865.21, taking its gain since the start [...]
New York Report: Dow breaks 17,000 barrier July 3, 2014 The Dow Jones Industrial Average yesterday smashed through 17,000 points for the first time ever in intraday trading, after an encouraging report on US job creation helped to reassure investors that economic growth could support stock benchmarks at all-time highs. The Dow rose 0.41 per cent, to 17,045.43, the S&P 500 index was up 0.6 [...]
