Churchill completes placing June 6, 2011 Embattled AIM-listed miner Churchill Mining has completed the private placement of 19.3m ordinary shares to Rachmat Gobel and Fara Luwia, raising £7.7m. The 40p placing price represented a 60 per cent premium to the 20-day volume weighted average share price as of 28 April – the day before the subscription agreement. The shares represent approximately [...]
CITY MOVES | WHO’S SWITCHING JOBS June 6, 2011 Ingenious The financial services group has promoted Neil Forster from group finance director to the group’s chief operating officer. Prior to joining Ingenious in 2008, Forster was group finance director at Hat Trick Productions and held senior finance roles in Walt Disney’s European television business. Forster remains a non-executive director of Hat Trick Productions and [...]
BEST OF THE BROKERS June 6, 2011 Halfords UBS expects the car and bike retailer to post full year profits in line with expectations when it reports its results to the market next week. Halfords has struggled amid tough trading conditions for retailers. UBS said good weather over Easter will have helped the retailer’s sales, but also expects Halfords to put out [...]
Commodities lift FTSE and offset weak banks and travel June 6, 2011 STRENGTH in commodity stocks helped Britain’s leading share index edge higher yesterday, offsetting weakness in banks and travel stocks, as some of the recent gloom lifted in the absence of further glum data. The FTSE 100 closed up 8.15 points, or 0.1 per cent, at 5,863.16 points, adding to Friday’s 0.1 per cent gain after [...]
Wall Street drops on poor US data June 6, 2011 THE S&P 500 extended its slide to a fourth day yesterday, hitting its lowest level since March 18, as a spate of recent weak US data lent support to a bearish outlook for the economy. Sectors most closely associated with economic fortunes took the biggest beating, with shares of Bank of America off 4 per [...]
From Prussia with love: an undercover bond market June 6, 2011 THE demand for covered bonds has been on a steady rise for the last decade. It’s a trend driven both by institutional investors looking to their perceived safety compared to traditional forms of securitisation and their use as collateral in the shoring up of Eurozone credit operations. Covered bonds are typically seen as especially safe [...]
A SECURITISATION COMEBACK GATHERS PACE IN EUROPE June 6, 2011 DURING the global financial crisis, Europe’s securitisation market effectively shut down. But since January there has been a flurry of new issuance, across an ever-widening array of asset classes, some of which had been dormant for years. While the early stages of recovery in 2010 were marked by a narrow focus on transactions backed by [...]
Future of UK covered bond regulations June 6, 2011 EARLIER in the year, HM Treasury and the FSA published a joint consultation paper reviewing the UK’s regulatory framework for covered bonds. The consultation paper proposed new measures which aim to provide greater transparency for investors and to increase the visibility of regulation. The paper proposed new measures relating to regulatory reporting, segregating asset types, [...]
Five ways you can keep your trades in gear June 6, 2011 BEING able to leverage your position opens up the possibility for greater trading profits. Of course, on the flip side, being leveraged exposes you to losing more than your initial stake. However, help is at hand. If you follow some strict rules you can avoid blowing yourself straight up – giving you time to get [...]
THE TIPSTER June 6, 2011 AFTER a dramatic fall, the silver price has been recovering. The price held up at $32.30 per ounce and moved back upward. However, we now seem to be stuck in a range between the 50 and 100-day moving averages. Economic fears will continue to see precious metals in focus. Alpari UK is currently quoting silver [...]
