Centamin shares rise on news of glittering gold production figures January 6, 2014 CENTAMIN shares rose nearly three per cent yesterday on news the FTSE 250-listed metals and minerals producer had increased gold production and beaten its full-year guidance. Preliminary fourth quarter figures showed total gold production at its Sukari Gold Mine in Egypt was 91,546 ounces, up seven per cent on the same quarter in 2012 and [...]
Analyst Views: Were Centamin’s results golden? January 6, 2014 DMITRY KALACHEV | CANACCORD GENUITYThe results are positive and substantially better than we expected as we had based our forecast on the company’s guidance of lower production in [the quarter]. It may be the case that Stage 4 commissioning started at the end of the quarter and quarterly production has not yet been affected. JONATHAN [...]
Bargain Booze owner appoints former Jessops boss as chairman January 6, 2014 CONVIVIALITY Retail, the company behind the off-licence chain Bargain Booze, said yesterday it has appointed the former boss of camera chain Jessops as its new chairman. David Adams, who is currently a non-executive director at Conviviality, will take over at the end of January, replacing Roger Pedder who will retire after eight years in the [...]
RWE cuts wind farm proposal January 6, 2014 GERMAN utility RWE will reduce capacity at its planned Triton Knoll offshore wind farm in the UK North Sea by up to half, it said yesterday, weeks after it scrapped another wind project in British waters. Triton Knoll’s capacity is now expected to range between 600 and 900 megawatts (MW), instead of the original 1,200 [...]
Floats are stacking up on Aim as pallet maker RM2 makes debut January 6, 2014 PALLET manufacturer RM2 joined the junior stock market yesterday after raising £137.2m to finance its expansion plans. The IPO is one of the biggest floats of the past year on the Alternative Investment Market. RM2 designs, makes and supplies pallets for transporting goods, using materials it claims are much stronger than the traditional wooden designs. [...]
Takeover on the card for Verso January 6, 2014 Shares in New York-listed coated paper producer Verso Paper more than doubled yesterday after it said it would buy privately held NewPage Holdings for $900m in cash and bonds. The combined company will have annual sales of about $4.5bn and 11 manufacturing facilities located in six US states. NewPage, which emerged from Chapter 11 bankruptcy [...]
Allenby buys First Columbus arm January 6, 2014 Small-cap broker Allenby Capital yesterday revealed it had bought the broking business of First Columbus. The firm said the deal swells its client list to more than 50 listed companies. “After an extremely busy 2013, in which we completed more than ten significant transactions, we have been looking to strengthen our service offering to our [...]
Opel and Vauxhall edge higher January 6, 2014 General Motors brands Opel and Vauxhall increased their market share in Europe in 2013, as sales of the new Adam city car helped counter a declining auto market. Opel and UK sister brand Vauxhall had a European market share of 5.61 per cent in 2013, up from 5.59 per cent in 2012, Opel said yesterday, [...]
City Moves for 7 January 2014 | Who’s switching jobs January 6, 2014 LPFA The London Pensions Fund Authority has announced the appointment of Susan Martin as chief executive. She joined the LPFA in 2007. Martin has previously held various positions at the Queen Victoria Hospital NHS Foundation Trust and Cancer Research UK. Mercer The consultancy firm has hired Toby Buscombe as global head of infrastructure investments. He joined Mercer [...]
Best of the Brokers for 7 January 2014 January 6, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com JD SPORTS FASHION N+1 Singer has chosen the sports retailer as one of its 2014 top picks, giving the company a buy rating and a target of 1,700p. The broker thinks the firm could expand in Europe, and has faith the new management [...]
