Oil prices: A game of chicken or headless chickens? – CNBC Comment August 11, 2015 Forget QE and low base rates, the real great global stimulus – in the form of tumbling commodities and most importantly oil – continues and it’s hard to see what’s going to change any time soon. This huge transfer of wealth from commodity producers to consumers has shown little sign of abating. In oil, the [...]
Bulls and bears clash over copper price: Buying opportunity or time to short? The outlook for the industrial metal August 11, 2015 Copper prices are at five-year lows and experts are divided over whether the industrial metal has further to fall – or is due for a rebound. In the last week traders have been going short copper in droves – betting the price will fall and making money when it does. US traders held net short [...]
Best of the Brokers for 11 August 2015 August 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DEVRO Numis reiterated its “hold” recommendation on the collagen food products manufacturer, in a supplementary comment on the firm’s interim results. The broker noted that it had made a “stupid error” in respect of pre-tax profit projections for 2016, and revised its guidance. [...]
FTSE finishes up after China data boosts miners – London Report August 11, 2015 MAJOR mining stocks experienced a sharp reversal yesterday, turning higher on hopes of stimulus after weak data in China, which led the UK’s top share index to recoup early losses. The blue-chip FTSE 100 index was up 17.73 points, or 0.3 per cent, at 6,736.22 points by the close, turning higher after gains in early [...]
Tory plans for elected mayors to open franchise door for Rotala August 11, 2015 Bus operator Rotala yesterday said a fresh government initiative to refranchise provincial bus services would open the door for further growth at the group. The company, which reported a six per cent fall in revenues, said Tory government plans to give directly elected mayors power over local transport will put a wave of new bus [...]
Nostrum in talks over $36m deal to buy Tethys August 11, 2015 Nostrum Oil and Gas was yesterday back in talks to purchase the beleaguered Tethys Petroleum after a $47.7m (£31m) refinancing deal between Tethys and AGR Energy fell through. Nostrum is offering Tethys, which operates in central Asia, CA$0.2185 per share, around 10.7p, valuing the company at just over £36m. Tethys had chosen to enter talks [...]
Carillion one of three companies to win £4.1bn outsourcing deal August 11, 2015 Carillion has won a new government outsourcing contract that could be worth up to £4.1bn. The FTSE100-listed business has been selected as part of a new “facilities management services agreement”, which will run until 2019. The new agreement replaces the current framework for facilities management contracts and relates to central government departments, executive agencies and [...]
Fastjet on fast-track to growth in Africa August 11, 2015 Pan-African airline Fastjet saw its highest rate of passenger bookings ever last month, carrying over 71,000 customers in July. The company is now expanding its reach, increasing traffic and signing a lease for its first airbus A319 with Industrial and Commercial Bank of China Limited, to be rolled out later this year.
TPG’s real estate arm snaps up European developer TriGranit August 11, 2015 TPG REAL Estate is bolstering its presence in central Europe after agreeing to buy Hungary-based property developer TriGranit. Founded in 1997 by Hungarian businessman Sandor Demjan, TriGranit is one of Europe’s largest privately-owned developers and managers of retail and office assets, with a focus on city centres. Under the terms of the deal, TPG will [...]
Clydesdale Bank PPI woes to cost a further £420m August 11, 2015 A further £500m is being made available to Clydesdale Bank by parent company NAB to cover compensation for payment protection insurance (PPI) mis-selling and interest rate hedging products mis-sold to business customers. The combined figure of £500m is the parent company’s top estimate for the final amount Clydesdale will require to facilitate the payout of [...]
