Cairn Homes IPO: Firm becomes first Irish housebuilder to float in 20 years June 10, 2015 The first Irish housebuilder to list in London for over two decades made its debut yesterday, with shares rising over five per cent. Cairn Homes, a venture set up last year by Alan McIntosh and Michael Stanley, raised €384.9m (£280m) from investors after fees, giving it a market cap of €429.7m. Separately, McIntosh and Stanley [...]
UK aerospace and defence sector flies high amid booming sales June 10, 2015 The UK aerospace and defence sector enjoyed a record year last year, with industry pundits predicting the boom times will be here for a while. The UK currently controls 17 per cent of the sector’s market share – second only to the US. “We are in a global growth market which could top £3.6 [...]
City Moves for 11 June 2015 | Who’s switching jobs June 10, 2015 JLL The property-focused professional services and investment management firm has announced three appointments to its Central London tenant representation team. Robin Pugh becomes national director. He has previously worked for JLL in Dubai and in its City leasing team. Andrew Wood (pictured) joins as associate director. He has previously held roles at CBRE and DTZ [...]
Best of the Brokers for 11 June 2015 June 10, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com GALLIFORD TRY Panmure Gordon reiterated its “buy” rating on the miner, and highlighted the risk of structures such as Incwala, the firm’s Black Economic Empowerment partner. The broker said the “low levels of effective black ownership on a ‘look-through’ basis” and questioned its [...]
Stan Chart and Sainsbury’s lead FTSE 100 risers – London Report June 10, 2015 BRITAIN’S main equity index rallied from three-month lows yesterday, led by advances in banking group Standard Chartered and supermarket chain Sainsbury. Standard Chartered rose 5.8 per cent, with traders citing the possibility that British finance minister George Osborne might announce changes in a tax on the British banking industry when he spoke last night. Any [...]
Finance and tech stocks lift US markets – New York Report June 10, 2015 US STOCKS jumped yesterday, helped by gains in technology and financial shares and optimism that Greece may be closer to reaching a deal with creditors. All 10 major S&P 500 sectors ended higher, with the technology index up 1.6 per cent and leading sector gainers. The S&P financial index, which has risen with the prospect [...]
We can have sustainable debt without Osborne’s inflexible new surplus rule June 10, 2015 Last night, in a speech at Mansion House, George Osborne set out his vision for UK fiscal policy. “In normal times,” he said, “governments of the left as well as the right should run a budget surplus to bear down on debt and prepare for an uncertain future.” This will be cemented with a new [...]
What David Cameron’s guru Steve Hilton doesn’t get: You need to shrink the state to make it human June 10, 2015 Steve Hilton, David Cameron’s former chief strategist, recently published a new book, More Human: Designing a World Where People Come First. From a powerful mayor in every town to self-build housing, from radically new models of education delivery to “Patients Like Me” social networks in health, Hilton has whizz bang ideas across most public policy [...]
Tower Hamlets is broken: How City philanthropists can put it back together June 10, 2015 Tower Hamlets goes to the polls today to elect a new mayor. Whoever takes charge from Friday will inherit a rotten borough, hollowed out by the behaviour of the previous administration. Former mayor Lutfur Rahman was kicked out of office in April after an electoral court found him guilty of electoral fraud. The bitter irony [...]
As Jack Ma goes on a US charm offensive, does Alibaba pose a real threat to Amazon and Ebay? June 10, 2015 Mike van Dulken, head of research at Accendo Markets, says Yes In terms of sheer size, accounting for 80 per cent of all Chinese online shopping, with volume growth easily outstripping rival internet retailers thanks to 1bn items on offer to 350m buyers, and with 30m shipments made per day, fast-growing behemoth Alibaba represents a [...]
