Circassia cracks on with trials May 19, 2014 CIRCASSIA, the newly-listed allergy drugs company, said yesterday its clinical trials are progressing as planned. The firm expects results for two studies in the second half of the year and is pressing on with bringing its Cat-Spire treatment to market, it said in a trading update. Circassia raised more than £200m when it floated on [...]
Russia and Ukraine weigh on ITE May 19, 2014 Exhibitions firm ITE Group reported a 64 per cent boost in profits to £18.2m during the six months to March, but warned it expects a lower level of growth in its key Russian and Ukraine markets for the rest of the year due to political uncertainty in the region. “The group experienced mixed trading conditions [...]
WANdisco prepares for US push May 19, 2014 WANdisco, the Sheffield-based firm that specialises in online collaboration software and big data products for businesses, yesterday changed its nominated adviser to Investec, just six months after it appointed UBS to the role, as the firm said it looks to continue to strengthen its US presence. WANdisco said it will retain former nominated adviser UBS [...]
Innovation’s profits slip on deals May 19, 2014 Innovation Group, the business software and processes firm, yesterday reported like-for-like revenues that rose two per cent to £101.7m during the six months to 31 March. Innovation’s profits fell 29 per cent to £4.8m due to the cost of acquisitions during the period and the amortisation of certain assets. “We made two material acquisitions in [...]
City Moves for 20 May 2014 | Who’s switching jobs May 19, 2014 IO The multi-let industrial estates management firm has announced the appointment of Oliver Bowditch to handle acquisitions. He joins from JLL, where he focused on providing valuation advice to banks, institutional investors and property companies. BDO The accountancy and business advisory firm has appointed Chris Bellairs as a partner in its financial services practice. He [...]
Best of the Brokers for 20 May 2014 May 19, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AVEVA Westhouse has started covering the engineering and design group with a “neutral” rating and 2,260p target price. The broker reckons Aveva is well-equipped for steady growth in both of its businesses, but believes the shares are fairly valued already. BURBERRY Barclays keeps [...]
London Report: Astrazeneca’s refusal of Pfizer bid lowers FTSE May 19, 2014 BRITAIN’S top shares fell yesterday, dented by a sharp drop in pharmaceutical firm Astrazeneca after it rejected rival Pfizer’s higher takeover bid. Astrazeneca dived 11.1 per cent after turning down Pfizer’s 55 pounds/share take-it-or-leave-it offer. That steep decline was the biggest drag on the FTSE 100 by some margin, with the index closing down 11.26 [...]
New York Report: Nasdaq lifted by biotech and internet stocks May 19, 2014 US STOCKS rose yesterday, with a rally in high-growth names among internet and biotech shares giving the Nasdaq a gain of almost one per cent. Equities have been pressured recently, with the S&P 500 coming off its first two-week decline since January as investors have become concerned about the economy’s growth prospects. “The listlessness in [...]
Letters to the Editor – 20/05 – Google judgement, Best of Twitter May 19, 2014 Google judgement [Re: Is the “right to be forgotten” online a real danger to freedom in Europe? yesterday] The Google “right to be forgotten” judgement is about the protection of personal data on the internet, not the freedom of expression. Google cannot say that its processes are carried out “solely for journalistic purposes”. But journalists [...]
CNBC Comment: How Qatar became Europe’s power broker May 19, 2014 WHEN in distress, US banks call Warren Buffett. In Europe, banks have turned to Qatar. It may only be the size of Yorkshire, but Qatar’s swoop on Deutsche Bank confirms its role as Europe’s power broker, having struck similar deals with Barclays, Credit Suisse, Dexia, KBL and Greece’s Alpha Bank. Germany’s largest bank has announced [...]
