Oil prices at rock bottom: Shares in energy companies plummet – should you purge your portfolio? August 26, 2015 Oil prices have fallen to their lowest levels since the financial crisis. The price of Brent crude went down to $42 a barrel earlier this week, before recovering a little. The news is shocking because, when oil prices were first slashed from over $100 a barrel to around $50 last June – due to the fact that [...]
Best of the Brokers for 26 August 2015 August 26, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DAIRY CREST Jefferies reiterated its “buy” rating on the dairy group, and said it is “positive on the outlook for cheese and whey and the cashflow attractions of spreads”. Target price rose from 535p to 640p. ENQUEST Canaccord Genuity maintained its “speculative buy” [...]
FTSE buoyant as China reassures global investors – London Report August 26, 2015 AFTER China cut interest rates to calm markets, Britain’s top share index posted its biggest one-day rise since 2011 yesterday, following turbulence that has rocked equities globally. The FTSE 100 rebounded, rising 182.47 points, or 3.1 per cent, to 6,081.34 points by the close after dropping to its lowest level since 2012 in the previous [...]
TfL Tube strikes 2015: Picket line travel disruption is hurting London Underground – Brand Index August 26, 2015 This year has not been a good one so far for commuters in the capital with a succession of strikes seeing London Underground staff manning picket lines instead of running railway lines. With the cancellation of this week’s strikes suggesting there is now some light at the end of the organisation’s tunnels, I have [...]
Stamps, coins and cars are the best investment for wise collectors August 26, 2015 While brokers across the world have presumably been curled up in the foetal position for the last 48 hours following the Chinese stock market crash, ancient British private wealth bank Coutts has been busy researching where we should invest our money next for safe keeping. The answer? Classic cars, stamps and fine wine. [...]
Virtual offices create very real profits at Regus August 26, 2015 SHARES in office outsourcing firm Regus jumped yesterday after the company reported an 86 per cent growth in underlying profits and double-digit revenue growth during the first half of the year. Revenue grew 16.4 per cent to £937m, up from £804.7m for the same period the previous year, while underlying pre-tax profit was £57.8m for [...]
Antofagasta profits fall by half as bad weather blunts business August 26, 2015 ANTOFAGASTA yesterday revealed a 48.6 per cent slump in profits during the first half of year as it published its interim results. Profits at the Chile-focused miner, which in co-operation with Barrick Gold acquired a 50 per cent take in the Zaldivar copper mine in the country this year, stood at $561.6m. Revenue was down [...]
M Local selloff: Morrisons’ ill-fated attempt to build a convenience arm has become a lesson for the industry August 26, 2015 It was a cold day in February 2013 when Morrisons’ former chief executive Dalton Philips was faced with a tough decision. Film rental chain Blockbuster had just collapsed and Morrisons was one of several suitors circling a portfolio of 50 stores administrators had put up for sale. Read more: It's a deal – Morrisons [...]
Scottish Tory leader Ruth Davidson: Roll out the red carpet for UK’s high earners August 26, 2015 Scotland should vow to keep tax rates as low as the rest of the UK to keep more high earners in the country, Scottish Conservative leader Ruth Davidson said last night. “This sends out the right message to everyone from across the UK that Scotland is not about punishing earned wealth,” she said, in a [...]
CBI wants new tax break for mid-size investment August 26, 2015 A LEADING business group is calling for new tax incentives for investing in medium-sized businesses. In a new report out today, the Confederation of British Industry (CBI) and the accountancy and business advisory firm BDO propose so-called “Long Term Lending Trusts”, funding vehicles offering income tax relief to savers who put their money into long-term medium-sized [...]
