Lockheed tipped for South Korea jet deal March 30, 2015 LOCKHEED Martin looks set to cash in on a new South Korean defence contract after being tipped to partner with Korea Aerospace Industries in a deal worth £5bn, it was revealed yesterday. The contract is to develop a new mid-level fighter jet to replace ageing Phantoms.
Sellers market: Private equity cash in on exit March 30, 2015 EUROPEAN private equity firms are enjoying their best exit returns since before the financial crisis, with the UK at the vanguard of the renewed activity it emerged yesterday. The report – published by the Centre for Management Buyout Research – revealed total European exit value in the first quarter was €29.5bn (£21.6bn), the highest since [...]
Randgold profit hit by poor gold price but dividend still increases March 30, 2015 PRE-TAX profit at gold miner Randgold Resources dropped to £353m last year, down from £402m in 2013. The group produced 1.15m oz of gold in 2014, up from 910,274 oz the previous year, and gold sales increased from £1.27bn to £1.43bn. Chairman Christopher Coleman said: “Against the background of a bear market in gold and [...]
Central Asia Metals shares soar on results March 30, 2015 SHARES in Central Asia Metals were up by 6.05 per cent yesterday, after the copper producer announced it would pay a final dividend of 12.5p for 2014. The company posted revenue of $76.6m (£51.8m) for the year, up 42 per cent on the $54.1m reported in 2013. In its results, the firm addressed the volatility [...]
City Moves for 31 March 2015 | Who’s switching jobs March 30, 2015 Allianz Global Corporate & Specialty Rishi Baviskar has been appointed cyber risk consultant in Allianz’s corporate and specialty insurance business’s global risk consulting team. He has over 15 years’ experience working in IT for oil, gas, car, and pharmaceutical companies. Financial Reporting Council Jennifer Walmsley has been appointed director of investor engagement at the Financial [...]
Best of the Brokers for 31 March 2015 March 30, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com AL NOOR HOSPITALS Jefferies reiterated its “buy” rating on the hospitals group, after results for 2014 showed a strong finish to the year. The broker added that the outlook for 2015 is “qualitative” and said this “reiterates the attractive market dynamics, which are [...]
Stimulus hopes in China help to send FTSE up – London Report March 30, 2015 EXPECTATIONS that more infrastructure spending and policy stimulus in China will boost mining companies yesterday sent Britain’s top share index higher. The blue chip FTSE 100 index finished 0.5 per cent higher at 6,891.43 points, after dropping 2.4 per cent last week. The index rose towards a record high of 7,065.08 set last Tuesday, but [...]
M&A activity and energy lift Wall St indices – New York Report March 30, 2015 DEAL ACTIVITY in healthcare and a bounce in energy shares yesterday helped to push US stocks up by more than one per cent, rebounding from a sharp decline last week. The Dow Jones industrial average rose 263.65 points, or 1.49 per cent, to 17,976.31, the S&P 500 gained 25.22 points, or 1.22 per cent, to [...]
Ignore Brexit scaremongers: We will thrive outside the EU if Britain embraces free trade March 30, 2015 Forget the scaremongering that so often accompanies debate about Britain’s EU membership. Leaving the European Union could be a win-win for the UK. We could have more international influence, create more trade and jobs, and regain sovereign control over our own laws and borders. These are the advantages that would flow from the Global Britain [...]
Don’t fear the deflation bogeyman: It’s unlikely to harm the UK economy March 30, 2015 As flat as a pancake. Last week’s inflation figures showed that the Consumer Price Index (CPI), the main measure of the prices of goods and services bought by households, was the same in February as it was a year earlier. This has led many to ponder the likely economic implications of deflation – if the [...]
