Best of the Brokers for 5 June 2015 June 4, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SOCO INTERNATIONAL GMP Securities reiterated its “reduce” rating on the oil explorer, stating that the current dividend is “unsustainable”. The broker added: “Given the company’s expensive valuation on our estimates, a falling production profile and little exploration newsflow, we see material downside risk [...]
Royal Mail sale and Johnson Matthey hit FTSE – London Report June 4, 2015 BRITAIN’S top share index fell yesterday, led lower by specialty chemicals maker Johnson Matthey and ex-dividend stocks in a broad sell-off in equities. Johnson Matthey, the world’s largest maker of auto catalysts, shed 5.3 per cent, making it the top FTSE 100 faller. The company posted a small rise in annual profit helped by higher [...]
US stocks fell ahead of jobs data out today – New York Report June 4, 2015 US STOCKS fell yesterday, hit by nervousness ahead of today’s jobs report and lingering uncertainty over a Greece aid deal with creditors. Declining oil and gold prices also weighed on energy and materials shares, which led declines in the benchmark S&P 500. Data showed the labour market tightening, with first-time applications for unemployment aid down [...]
The US corporate debt market is close to boiling over – and Europe could be next June 4, 2015 How close is the corporate debt market to boiling over? Given the vast volumes of institutional and retail money that have flowed into high yield funds and other leveraged finance vehicles in recent years, it’s a key question for financial markets in both the US and Europe. For the last six years, corporate borrowers have [...]
It’s time for law firms to go public – and end the archaic partnership model June 4, 2015 On Monday, Gateley will become the first UK law firm to list as a public company. It should serve as a wake-up call for the entire industry and more firms should follow suit. For some lawyers, moving away from the partnership model will be terrifying – but it’s an essential evolution, not just for the success [...]
The City has no room for complacency about its global competitiveness June 4, 2015 Nearly 30 years of working in the City has taught me that successful times are the most dangerous times. Warren Buffett, in one of his recent newsletters, described the warning signs that see good times turn to bad as the ABC of business: arrogance, bureaucracy and complacency. Today, there is no room for complacency. The [...]
As the Greek saga continues, can only fiscal integration secure the Eurozone’s future? June 4, 2015 Lydia Prieg, a PhD student at the University of Cambridge, says Yes Greater fiscal union is the only sustainable solution for the Eurozone. Without coordinated redistribution, some countries are enjoying artificially low exchange and interest rates. This boosts exports and growth. Other countries have inappropriately high exchange and interest rates, which hinder exports and growth. [...]
What the Tories mean for employees: From fewer strikes to more free childcare June 4, 2015 In the run-up to the Queen’s Speech, the suggested repeal of the Human Rights Act dominated the headlines. But now, it’s worth giving the government’s proposals for workers more time. The coalition made great play of reducing the number of costly, time-consuming and unwarranted employment claims that businesses were forced to deal with. Now, [...]
Art review: Agnes Martin brings peace and quiet to Tate Modern June 4, 2015 Tate Modern | ★★★★★ When we think of 20th century abstraction we tend to think of great male painters who divided the canvas into blocks (Mondrian, Rothko) or set colours against each other in explosions of warring pigment (Pollock). Agnes Martin’s approach was different. She ruptured the chains of figuration only to find another [...]
Something for the weekend June 4, 2015 WATCH! MORE LONDON FREE FESTIVAL This weekend the More London Free Festival returns, bringing a varied programme of arts and events to the concrete amphitheatre next to the Mayor’s building. See everything from child-friendly adaptations of Greek tragedies to a French Riviera-inspired pop up restaurant. Visit morelondon.com PERUSE! MAP FAIR What better way to add [...]
