Strong London rents help boost UK Commercial Property Trust August 21, 2013 UK Commercial Property Trust, the largest UK-focused trust of its kind, said yesterday its net asset value (NAV) per share had dipped 1.2 per cent to 68.9p in the six months to 30 June, as the value of its property portfolio fell. The Guernsey-based trust, which owns retail and office properties across the UK, posted a [...]
Analyst Views | Have PPHE’s half year results changed your outlook for the group? August 21, 2013 JACK O’BRIEN LIBERUM CAPITALFirst half revenue and earnings are broadly flat, with the UK market performing strongly and continental European markets remaining challenging…Portfolio growth bodes well and is a long term attraction. PPHE remains too cheap relative to peers. We increase our target price from 336p to 500p. JAMES HOLLINS INVESTECLed by the continued strength [...]
Target warns on full year profits August 21, 2013 Target warned of weak annual sales and profits yesterday as US shoppers remain cautious and its new Canadian stores are not doing as well as anticipated. Target said this year’s profit should come in at the low end of already reduced expectations and that sales at stores open at least a year should grow just [...]
Staples hit by poor Europe sales August 21, 2013 US office supply retailer Staples yesterday reported weaker-than-expected quarterly results due to poor sales in Europe. European sales fell six per cent in stores open at least a year. Net earnings fell to $102.5m (£64.9m), or 16 cents a share in the second quarter that ended 3 August from $120.4m, or 18 cents a share [...]
Toscafund bets on UK over US August 21, 2013 The resurgent UK economy is set for faster growth than the United States for much of the rest of the decade, according to Toscafund, one of Europe’s biggest equity hedge fund managers. The fund sees population growth, via immigration, as a key driver of the economy along with a “flourishing” carmaking industry and the increasing [...]
City Moves for 22 August 2013 | Who’s switching jobs August 21, 2013 Squire Sanders The law firm has announced the appointment of Mark Thomas as a partner in its financial services practice group. Thomas specialises in structured finance and capital markets. He was most recently at Addleshaw Goddard, where he was head of structured finance. PwC The professional services firm has hired Charlie McMurdie as senior crime [...]
Best of the Brokers for 22 August 2013 August 21, 2013 J MENZIES Panmure has started covering the publishing distributor and aviation services group with a ‘buy’ rating and 877p target. The broker thinks the shares will benefit from aviation growth. BHP BILLITON UBS reiterates its ‘buy’ rating and raises its target price to 2,180p on the natural resources firm. The broker remains keen on the [...]
London Report: FTSE falls for third day in a row on taper fears August 21, 2013 THE UK benchmark equity index fell for the third straight day yesterday to six-week lows, with investors anxious over the prospect of a forthcoming scaling back of US monetary stimulus. The market also took a technical hit as a clutch of companies including bank HSBC and Intercontinental Hotels began trading without entitlement to their latest [...]
New York Report: Wall Street falls again as Fed fails to give markets guidance August 21, 2013 US stocks ended lower in choppy trading yesterday after minutes from the US Federal Reserve’s July meeting offered few clues on the timing of a reduction in its bond-buying program. Minutes from the meeting showed almost all the policymakers on the central bank’s Federal Open Market Committee agreed that a change to the stimulus was [...]
Liberty in transit: What the detention of David Miranda signifies for Britain August 21, 2013 THE DETENTION and interrogation of David Miranda, partner of campaigning journalist Glenn Greenwald, on his way from Germany to Brazil has brought up some interesting facts – and attitudes. Views on such a cloudy subject vary, but two strong camps have emerged. To hear one set of commentators, the Intelligence Services have magical powers of [...]
