Nigeria’s Seplat starts trading April 14, 2014 Nigerian oil company Seplat started unconditional dealings on the stock exchanges in London and Lagos yesterday, having raised £300.9m in its initial public offering. The firm, which is one of the largest indigenous independent oil and gas operators in Nigeria, started conditional dealing last week. It plans to use part of the proceeds to buy [...]
SMS buys energy firm for £14m April 14, 2014 Smart Metering Systems, the Aim-listed electricity metering services company, yesterday said it has bought Utility Partnership for £14m. Utility Partnership is a manager of electricity meters and provider of meter installation, data management and energy management services. The deal is expected to be immediately earnings-accretive. The firm also said that Scottish Power executive Willie MacDiarmid [...]
San Leon shelves Turkish plans April 14, 2014 Oil and gas explorer San Leon Energy yesterday said it has decided not to go ahead with projects in Turkey and will invest in shale gas interests in Poland’s Baltic Basin instead. The Aim-listed firm attributed the decision to regulatory delays in Turkey, increased risk to production targets and currency devaluation. “We are now on [...]
Best of the Brokers for 15 April 2014 April 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AO WORLD Numis has launched its coverage of the appliances retailer by urging investors to “buy” with a target price of 350p. The broker believes the recently listed firm could take up to 40 per cent of a growing online market as more [...]
London Report: Ukraine fears prompt return to defensives April 14, 2014 A RISE in food and retail stocks, seen as “defensive” plays with investors worried by tensions in Ukraine, enabled Britain’s top equity index to inch higher yesterday. The blue-chip FTSE 100 index closed up by 0.3 per cent, or 22.06 points, at 6,583.76 points. Trading volumes came in at around 1.1 times above the index’s 3-month [...]
New York Report: Citigroup and retail figures lift US stocks April 14, 2014 US STOCKS closed higher yesterday as Citigroup’s earnings and strong retail sales gave investors reasons to buy equities despite a resurgence of geopolitical uncertainties. Equities opened higher as strong results from Citigroup and bullish retail sales data lifted sentiment, though shares lost ground in the last hour of trading. Both the Nasdaq and the S&P [...]
Letters to the Editor – 15/04 – Jobs miracle, Airport debate, Best of Twitter April 14, 2014 Jobs miracle [Re: The recovery is being driven by a revolution in the jobs market, yesterday] Have you considered that the reason for the rise in self-employed consultants is the tax system? With a good accountant, moving from PAYE to self-employment, for effectively the same job, can reduce your liability. I find it increasingly difficult [...]
Eurozone QE: Why and how Draghi may pull the trigger April 14, 2014 The ECB will opt for a massive sum to force the euro down DESPITE the strongest signs yet that the European Central Bank (ECB) will act to tackle disinflation, markets remain unconvinced. ECB president Mario Draghi, speaking on Saturday, said that a continued strengthening of the euro (which the ECB believes has knocked up to [...]
CNBC Comment: Investors are warming to sickly France April 14, 2014 MARKET darlings have been feeling the pain of rejection. Now safer dividend stocks are the new best thing, but curiously there is another contender for reallocating funds – France. The benchmark CAC 40 Index, which delivered double the pace of growth of the Dow Jones Industrial Average in 2013, with returns of 15 per cent, [...]
DailyFX Tips & Picks: The simple technique of trading FX market breakouts April 14, 2014 MOST of the time, trading a breakout is a simple way to trade the markets. It was one of the first few techniques I learnt when I started to trade FX back in 2006 and, as a well-documented trading edge, it has been used for many decades. It is also a particularly effective technique when [...]
