Defence cuts hit Bodycote revenue April 29, 2014 UK engineering firm Bodycote yesterday said revenue fell 2.2 per cent in the first quarter compared to the same period the previous year, hit by a strong pound affecting its exposure to overseas markets and cuts to defence budgets. Defence revenue fell 2.3 per cent in constant currency terms, although sales in the wider aerospace, [...]
Tungsten reshuffles management April 29, 2014 Tungsten, the British investment vehicle founded by Edmund and Danny Truell, yesterday said it had reshuffled its management team. Luke McKeever, former chief of OB10, the e-invoicing network acquired by Tungsten last October, has left his role as executive director. The company said it has made progress in integrating its financing and analytics capabilities into [...]
Segro’s rentals rise in first quarter April 29, 2014 London-listed industrial landlord Segro yesterday said it had a “busy and productive first quarter,” contracting £9m of rental income over the period, compared to £4.7m in the first quarter of 2013. But the vacancy rate rose to nine per cent, reflecting larger take-backs in France and Germany. “Occupier demand for new space continues to improve [...]
City Moves for 30 April 2014 | Who’s switching jobs April 29, 2014 BNP Paribas Investment Partners David Kiddie has joined BNP Paribas Investment Partners as chief executive of its institutional business line. He has 30 years’ asset management experience, and was most recently at AMP Capital Investors in Australia, where he was chief investment officer. Kiddie has also previously held senior positions at ABN AMRO Asset Management, [...]
Best of the Brokers for 30 April 2014 April 29, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com RIGHTMOVE UBS has upgraded the online real estate company from “neutral” to “buy”, with the target price unchanged from 3020p. The broker thinks Rightmove offers promising long term growth against the backdrop of an improving UK housing market, with better margins than its [...]
London Report: Solid corporate earnings push FTSE near highs April 29, 2014 THE UK’S blue chip share index hit a seven and a half week closing high yesterday, bolstered by upbeat corporate earnings reports from oil major BP and wealth manager St James’s Place. BP, up 2.9 per cent, contributed most points to the UK benchmark index as it raised its quarterly dividend and said more share [...]
New York Report: High growth sectors give a lift to US stocks April 29, 2014 US STOCKS rose yesterday, boosted by upbeat results from companies including Merck and a rebound in Facebook and other high-growth shares. Merck’s shares climbed 3.6 per cent to $58.72, giving the S&P 500 its biggest lift, after it reported stronger-than-expected earnings. Further deal activity on the healthcare front also lifted the market. UK firm Reckitt [...]
Letters to the Editor – 30/04 – Army reservists, Best of Twitter April 29, 2014 Army reservists [Re: Small firms fear effects of rise in army reservists, Monday] In your article, The Federation of Small Businesses (FSB) calls on the Ministry of Defence to understand business concerns about the rise in army reservists. That is exactly what we are doing. With reservists set to play an expanded role in defence, [...]
Why it’s not too late to play the UK’s economic recovery April 29, 2014 But investors must be ultra-selective to see any long-term gains AFTER two scintillating years for British equities, which saw shares boom alongside a surprisingly strong economic recovery, many UK-focused stocks have come off the boil. The mid-cap FTSE 250 (whose constituents draw over half of their sales from Britain) is down almost 0.6 per cent [...]
Holborn Dining Room brings life to Midtown April 29, 2014 @steve_dinneen RESTAURANT HOLBORN DINING ROOM 252 High Holborn, WC1V 7EN Tel: 0203 747 8633 FOOD Four Stars VALUE Four Stars ATMOSPHERE Five Stars Cost for three with cocktails: £187 THERE’S NOT a lot going on in Holborn, or “Midtown” as nobody outside of an estate agent’s office has ever called it. In actual Midtown, exactly [...]
