Fastnet and Kosmos plan well November 18, 2013 Fastnet Oil and Gas, the listed company focused on near-term exploration acreage in Morocco and the Celtic Sea, said Kosmos Energy, its partner in the Foum Assaka licence, offshore Morocco, has now provided a technical update on its exploration assets. Kosmos indicated that well planning is underway at the Eagle-1 Well, with a planned target [...]
Gemfields gem prices shine November 18, 2013 Gemfields yesterday announced $16.4m (£10.2m) in sales from an auction of lower quality rough stones in Lusaka, Zambia. The Aim-listed company said that was a record average per carat of $3.32, up 27 per cent on previous auction prices. Chief executive Ian Harebottle said: “Gemfields’ year-to-date auction revenues now stand at $56.4m. This compares favourably [...]
Best of the Brokers for 19 November 2013 November 18, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com FOXTONS Brokers Canaccord Genuity upgraded their recommendation on estate agency Foxtons from hold to buy, with a November 2014 target of 320p. The analysts believe Foxtons can capitalise on a .London web address, boosting the firm’s reputation worldwide and upping its share price. [...]
London Report: Aberdeen Asset Management buy lifts FTSE November 18, 2013 BRITAIN’S top equity index rose slightly yesterday, lifted by a rally in Aberdeen Asset Management and ambitious economic reform plans in China, a key export market for some UK blue chips. Shares in Aberdeen jumped 14.7 per cent, the biggest daily gain in five years, after it bought SWIP, Lloyds Banking Group’s fund management arm, [...]
New York Report: Bearish Icahn sees stocks fall off new highs November 18, 2013 THE S&P 500 and the Nasdaq ended lower last night while the Dow failed to close above its milestone level of 16,000 as stocks sold off late in the session following Carl Icahn’s cautious comments on the equities market. The Dow and the S&P 500 retreated from record levels with less than an hour to [...]
Don’t write off India: 2014 vote holds promise for the untapped Asian giant November 18, 2013 I AM just back from my latest trip to the sub-continent, having spent a week talking to the Indian political elite about their coming election for the Lok Sabha, India’s parliament, which is likely to be held in May 2014. While the Chinese Communist Party’s just-concluded plenum has rightfully overshadowed all else in Asian politics, [...]
Tories are spreading the ashes of party modernisation – and it’s a good thing November 18, 2013 AS I watched Sky News over breakfast yesterday, the discussion turned to a new venture from Prince Charles, dubbed a charity to help charities. As the discussants outlined the idea’s potential merits, presenter Eamonn Holmes wryly asked: “What was that similar thing David Cameron was pushing before the last election? The Big Society or something?” [...]
Don’t let politics delay extra airport capacity as it held back Crossrail November 18, 2013 DEEP underneath the docks at Canary Wharf, the largest construction project in Europe is underway – the new Crossrail line. With a spectacular station, when this new railway opens in 2019, it will whisk passengers to Heathrow in just 39 minutes. Canary Wharf Group was one of the driving forces behind getting the Crossrail project [...]
Letters to the Editor – 19/11 – UK entrepreneurs, Best of Twitter November 18, 2013 UK entrepreneurs [Re: Entrepreneurs now have their own pressure group – at last, yesterday] Our recent G20 Entrepreneurship Barometer found that, while the UK is one of the top five countries to be an entrepreneur (with a competitive tax system and business-friendly regulation), we still have close to the lowest score for “co-ordinated support”. The 130 finalists of [...]
China’s bold reform plan won’t halt growth slide November 18, 2013 Reform of state-owned enterprises may boost productivity but politicised decisions will continue Euphoria over the reform agenda released by China’s Communist Party on Friday helped push global shares to a six-year high yesterday. Chinese stocks listed offshore rose by 6 per cent, their best trading day in two years, while domestic shares increased by 2.9 [...]
