SolGold falls despite copper find October 8, 2013 SolGold has struck copper at its Cascabel project in Ecuador, the firm revealed yesterday, but its Aim-listed shares tanked more than 11 per cent to 6.85p in heavy trading. Managing director Alan Martin said that exploratory sites “full support our interpretation that the broader Alpapa region has potential to host a world-class porphyry copper-gold deposit”. [...]
City Moves for 09 October 2013 | Who’s switching jobs October 8, 2013 MacKay ShieldsThe fixed-income investment management firm has hired Matthew Nagele as managing director and head of distribution for the UK and Europe, the Middle East and Africa. He has previously held senior roles at Janus Capital Group and Old Mutual Asset Managers (UK). Jones DayThe law firm has announced the appointment of Michael Weir as a [...]
Best of the Brokers for 09 October 2013 October 8, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com SIGNET Analysts at Deutsche Bank have upgraded the jeweller to a “buy” and increased its target price from $73 to $85. The bank said sound cash generation should provide scope for further share buybacks and dividends. TAYLOR WIMPEY Panmure Gordon has upgraded the housebuilder [...]
London Report: Retail gloom and US gridlock weigh on FTSE October 8, 2013 THE UK’S top share index slipped to three-month lows yesterday as weak data and downbeat analyst comments hit retailers and the fiscal deadlock in the United States kept broader sentiment subdued. In contrast to buoyant recent British data, retail sales growth slowed for a second month in September, according to BRC numbers. Analyst notes on [...]
New York Report: Wall Street on the slide over shutdown fear October 8, 2013 US stocks slid yesterday as traders cashed in gains in some of the year’s best performers amid little progress to end a political crisis in Washington that could affect the US fiscal standing and economic recovery. A gauge of Wall Street anxiety hit its highest level in more than three months as equity markets showed [...]
Grounding planes means grounding growth: We must act on airports now October 8, 2013 A SOLUTION to London’s airport capacity crisis is a national imperative. After years of indecision and inertia, we have got to act to support growth. Heathrow opened in March 1946, less than a year after the war, and has since grown to become the world’s third busiest airport. Yet in the time it took to [...]
Against the Grain: Who will guard the guards? Put the regulators on trial for reckless behaviour October 8, 2013 THE TREASURY’S amendments to the Banking Reform Bill mean that senior bankers could face up to seven years in jail for “reckless misconduct” which leads to the collapse of a bank. Certainly, the behaviour of prominent individuals in the run up to the crisis left much to be desired. If only we could have put [...]
Rejection of proposals for self-regulation is dire news for our press October 8, 2013 TODAY, the Privy Council is set to reject the newspaper industry’s proposals for new forms of press self-regulation. Various press-fearing politicos and censorious celebrities wanted statute-backed regulators. But all national newspapers (bar the Guardian and Independent) backed the idea of self-regulation as an alternative to the system of state regulation floated by those politicians and [...]
Letters to the Editor – 09/10 – UK energy crisis, Best of Twitter October 8, 2013 UK energy crisis [Re: Our energy crisis, like America’s debt idiocy, is self-inflicted, yesterday] I agree that it is crazy for Britain to be closing its coal burners under the Large Combustion Plant Directive. But it is also important to mention the effects of the Emissions Trading Directive and the Energy Efficiency Directive, which have also [...]
Investment Comment: Emerging markets: A risky bargain October 8, 2013 Despite cheap valuations, investors must exercise extreme caution EMERGING market equities have underperformed developed markets for three years in a row. This year has been particularly volatile for the former, with concerns over the deceleration of the Chinese economy and the growing realisation that a wind-down in quantitative easing (QE) by the US Federal Reserve [...]
