Best of the Brokers for 13 October 2015 October 13, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com PETROFAC Canaccord Genuity reiterated its “hold” recommendation for the oil and gas services firm after the company terminated the construction contract for its new build deepwater construction vessel, the JDS 6000. The broker sees Petrofac as “inexpensive” at its current price, and said: [...]
FTSE retreats as aerospace and miners weigh – London Report October 13, 2015 Mining and aerospace stocks weighed on FTSE yesterday as the UK’s top share index fell after posting its biggest weekly gain since 2011 in the previous session. The benchmark FTSE 100 index was down 0.7 per cent at 6,371.18 points at its close, its first daily loss in nine sessions, having risen for the previous [...]
Facebook tax row will generate more heat than light – The City View October 12, 2015 Here we go again. Corporation-bashing is back in full force, this time targeted at Facebook following the revelation of its latest UK tax bill. Labour MP David Lammy slammed the company as a “disgrace” yesterday, while Green party leader Natalie Bennett described Facebook – which employs hundreds of people in the UK and is enjoyed [...]
City Moves for 13 October 2015 | Who’s switching jobs October 12, 2015 CITY NOBLE The pensions and investment advisory firm has appointed Mike Webb as associate in its advisory business. He was previously head of distribution and marketing for the Axa corporate investment platform, and senior business development manager in Standard Life’s corporate pensions division. CBRE The commercial real estate services and investment firm has appointed Milan [...]
Wall St ends up with focus on earnings – New York Report October 12, 2015 Gains in utilities offset a retreat in energy shares yesterday, leaving US stocks slightly higher as investors remained nervous about third-quarter corporate results. The Dow Jones industrial average rose 47.37 points, or 0.28 per cent, to 17,131.86, the S&P 500 gained 2.57 points, or 0.13 per cent, to 2,017.46 and the Nasdaq Composite added 8.17 [...]
Trade blocs are obsolete: Why the Commonwealth is Britain’s future October 12, 2015 China is vital to our future,” the chancellor told the Tories at their conference last week, but it’s “not growing as strongly as it was.” And, he added, “the Eurozone is still very weak”. So where else do we look to shore up our not-so-brilliant trade performance? The answer could lie in something we [...]
Cherry-picked evidence does not justify costly policies to boost “social mobility” October 12, 2015 When major political parties agree on an issue, worry. For the past decade, “social mobility” – the movement of individuals to different positions in society – has been said to be in decline, with Britain believed to perform poorly compared with other countries. At his conference speech last week, David Cameron summed up the establishment [...]
Perfect storm for non-executive directors: Why the era of “jobs for the boys” is long gone October 12, 2015 The role of non-executive directors (NEDs) was long considered something of an easy ride. Before the crisis, it was commonplace for City professionals, often in the twilight of their careers, to sit on a number of Plc boards simultaneously, fulfilling their duties simply by attending a small number of board meetings and providing appropriately-timed nuggets [...]
EU referendum: Is former M&S boss Stuart Rose a blessing or a curse as leader of the campaign for Britain to remain in the European Union? October 12, 2015 Tim Bale, professor of politics at Queen Mary, University of London, says Yes Brits in general do not do the vision thing, especially when it comes to Europe. Sure, we want to get on reasonably well with the neighbours, as long as we’re not continually told by them what to do. But in the end, [...]
Trading stocks and equity markets will dominate week ahead – eToro Tips & Picks October 12, 2015 This week is going to be all about trading stocks and equity markets, as the fallout from the poor US jobs report continues to give markets a shot in the arm. Last week saw the start of earnings season in the US, with Alcoa reporting its third quarter numbers. Expectations for earnings are [...]
