Airbus sparks a relief rally as first quarter profit beats expectations May 13, 2014 AIRBUS Group posted better than expected first-quarter earnings yesterday, sparking a relief rally in its shares as it dodged the impact of higher costs for its new A350 jet, which remains on track for a late-2014 debut. Shares in the world’s second-largest aerospace group after Boeing rose by over six per cent to €52.54, their [...]
Student housing landlord looks to raise £110m from London float May 13, 2014 EMPIRIC Student Property is to become the latest student housing fund to list on the stock market as it seeks to take advantage of a demand for rooms from wealthy overseas students across the UK. The fund plans to list next month as a real estate investment trust (Reit) and is looking to raise £110m [...]
Dubai growth boosts Damac May 13, 2014 Damac Real Estate said yesterday that its net profit for the first quarter rose 79 per cent as the developer benefited from buoyant conditions in its Dubai home market. Net profit for the first three months of 2014 was $210m (£171.43m) compared to $117m in the corresponding period last year, it said in a regulatory [...]
Revenues climb for PPHE’s hotels May 13, 2014 PPHE Hotel Group announced a jump in revenue yesterday, with the amount made per available room in the first quarter up 11.7 per cent when compared to the same period in 2013, rising to €89.8 (£73.12). Total revenue climbed by slightly more, up 12.4 per cent to €54.6m in total. The upmarket firm also reported success [...]
Raven Russia not hit by Ukraine May 13, 2014 Commercial real estate firm Raven Russia said yesterday that the unfolding political crisis in Ukraine was yet to significantly impact its business, with net operating income at $192.7m (£114.6m) since the beginning of the calendar year. The group added that 97 per cent of its completed real estate was occupied. The firm will also soon [...]
Best of the Brokers for 14 May 2014 May 13, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ROYAL MAIL The Royal Mail has become a top stock pick at Berenberg, which has started covering the firm with a “buy” rating and 700p target. The firm is “hugely inefficient in both operational and financial terms”, the broker thinks, leaving plenty of [...]
London Report: FTSE climbs to its highest close since late 1999 May 13, 2014 BRITAIN’S top share index hit its highest closing level since December 1999 yesterday, led by housebuilding stocks, with technical analysts betting the broader market could push on further still. The FTSE 100 ended up 21.33 points, or 0.3 per cent, at 6,873.08 points. Forex.com technical analyst Fawad Razaqzada reckoned there was scope for the index [...]
New York Report: Fresh record peaks for Dow and S&P 500 May 13, 2014 THE DOW and the S&P 500 eked out record closing highs again last night, while the Nasdaq resumed its recent slide, dragged down by Cisco shares. The S&P 500 briefly rose above 1,900 for the first time early in the session, but quickly gave back some of its gains. In contrast, the Russell 2000 index [...]
How to prevent investment fees from eroding long-term returns May 13, 2014 In a low interest rate environment, the power of compounding can make fee leakage a sizeable drain on your wealth IN A LOW growth environment, high fees equate to long-term wealth destruction. In the year to date, most asset classes have struggled to post positive returns, UK inflation (on the consumer price index) is at [...]
The big fund debate: When it pays to go active May 13, 2014 GOVERNMENT proposals last week that £85bn of assets controlled by local authority pension funds be switched to passive index trackers have intensified the debate over the value of active managers and the fees they charge. Some experts take a “passive where possible” approach, dismissing the ability of fund managers to outperform on the back of [...]
