Lonmin share price rockets on hope of end to strike action June 12, 2014 Shares in South African platinum miner Lonmin soared almost nine per cent yesterday, after the dominant union representing its workers presented its wage proposals to its members. FTSE 250-listed Lonmin, alongside peers Impala Platinum and Anglo American Platinum, has been locked in months of negotiations with the militant Association of Mineworkers and Construction Union (Amcu), [...]
WS Atkins boss in talks over UK shale gas opportunities June 12, 2014 THE CHIEF executive of WS Atkins yesterday said the engineering consultancy was in talks with UK shale gas explorers over potential contracts, as he reaffirmed the company’s commitment to its home market. Uwe Krueger told City A.M. that “the UK is the most important market for Atkins” and said that since divesting the UK highways [...]
Balfour group win £745m deal June 12, 2014 INFRASTRUCTURE firm Balfour Beatty yesterday said that, along with peers Carillion and Galliford Try, it had been selected as preferred bidder for a £745m road contract near Aberdeen. The project includes the design and construction of 46km of new dual carriageway and a further 12km of upgraded existing dual carriageway, alongside side roads, access tracks [...]
Jump start for euro industry in spring June 12, 2014 THE EUROZONE’S industrial firms yesterday reported a more rapid expansion that was expected between March and April, raising hopes for higher economic growth in the second quarter. Industrial production rose by 0.8 per cent between March and April alone, twice the 0.4 per cent bump that was expected. Year-on-year, the output index rose by 1.4 [...]
City Moves for 13 June 2014 | Who’s switching jobs June 12, 2014 Investec Asset Finance Jane Mantell has been appointed head of portfolio risk at the asset finance provider. She joins from Insight Plus, the consultancy, where she has worked since 2007. Mantell previously spent nine years with Foxreed Consulting. UBS Michael Hafner has been appointed head of oil and gas, Europe, Middle East and Africa (EMEA) [...]
Best of the Brokers for 13 June 2014 June 12, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TED BAKER Cantor Fitzgerald has reiterated its “buy” rating for Ted Baker, maintaining its target price of 2350p after results this week. The broker believes that management’s focus on high standards and international expansion will ensure the retailer has a wealth of opportunities [...]
London Report: Iraq fighting pushes up price of oil and lifts energy stocks June 12, 2014 ENERGY companies kept the FTSE out of the red yesterday, as oil prices were lifted by violence in Iraq. But the market was treading water as heavyweight mining stocks dropped sharply after worries about declining Chinese demand sent copper prices to a one-month low. The FTSE 100 ended up 4.24 points, or 0.1 per cent, [...]
New York Report: Airlines dent US equities June 12, 2014 US STOCKS fell yesterday as concerns escalated about Iraq, putting airline stocks into a tail spin. The Dow Jones industrial average fell 109.69 points or 0.65 per cent, to end at 16,734.19. The S&P 500 slid 13.78 points or 0.71 per cent, to 1,930.11. The Nasdaq Composite dropped 34.30 points or 0.79 per cent, to [...]
Letters to the Editor – 13/06 – No blackouts soon, Best of Twitter June 12, 2014 No blackouts soon [Re: Are we returning to 1970s-style electricity rationing? yesterday] Paying companies to curb electricity use voluntarily at peak times is a simple and practical way to shift demand, allowing questions over new investment in generation to be resolved. The coincidence of different sets of EU and UK legislation has temporarily reduced supply [...]
Why Rolex’s Tudor Heritage Black Bay watch is best for the beach June 12, 2014 Why Tudor’s handsome devil tops our chart of this summer’s best beach timepieces Passport? Check. Boarding pass? Check. Embarrassingly garish new swimmers? Double check! Watch? Oh, hang on… It always seems easy enough slipping from boardroom to board shorts, but come the summer, deciding on what to wear on your wrist poolside is a different [...]
