Regal board backs £77m offer from Energees December 13, 2010 OIL explorer Regal Petroleum said yesterday it would recommend shareholders accept a £77m ($121.5m) takeover offer from Energees Investments as Cyprus-based Heamoor said it was considering making a competing bid. Ukraine-focused Regal said the offer price was 24p a share, a 30 per cent premium to the company’s closing share price of 18.5p on 9 [...]
CITY MOVES | WHO’S SWITCHING JOBS December 13, 2010 Logica Seamus Keating, currently Logica’s chief operations and finance officer, has been announced as the firm’s chief executive for the Benelux countries. He will take up his new job as soon as a successor for his role as CFO has been found, replacing Wilbert Kieboom, who has decided to leave the group. Kieboom will, however, stay [...]
BEST OF THE BROKERS December 13, 2010 GAME GROUP Brewin Dolphin had started covering the retailer with a “buy” rating and a three-month target price of 80p. The broker believes the stock is a strong candidate for active traders due to its volatility, and notes the firm’s market outperformance as mentioned in last week’s trading update. It looks forward to Game’s post-Christmas [...]
Mining firms haul FTSE 100 to highest level in five weeks December 13, 2010 Strong miners pushed Britain’s top share index to a five-week closing high on Monday, buoyed by firmer metals prices on strong economic data from China, while sector consolidation moves gave oil services firms a fillip. The FTSE 100 closed up 47.80 points, or 0.8 per cent, at 5,860.75, its highest close since 9 November, albeit [...]
Chinese cheer fades across Wall Street December 13, 2010 The Nasdaq closed lower and ended eight straight days of gains yesterday while the Dow and S&P 500 ended flat as optimism faded over China’s move to tame its growth. The Dow Jones industrial average gained 18.24 points, or 0.16 per cent, to end at 11,428.56, well off its intraday high of 11,480.03. The Standard [...]
Anticipating the kinks in the road December 13, 2010 1 The Chinese economy has been driving the world’s growth for the last couple of years, but some economists are beginning to worry that it is overheating. Inflation hit 5.1 per cent in November according to the latest figures, with price increases especially intense in coastal cities. The Chinese government has been trying to damp [...]
DESPITE ALL US EQUITIES STILL CLIMB December 13, 2010 CFD MARKET STRATEGIST, GFT THERE has been a mixed reaction to the news that Congressional Republicans and President Obama have reached a deal to extend the Bush tax cuts. While a number of Democrats have expressed outrage that the cuts will continue for everyone, the package should be accepted. This helped lift US equities and [...]
THE TIPSTER December 13, 2010 WTI crude oil rallied some 150 points yesterday morning to highs around $89.40 on the back of relief over China not raising rates and positive demand forecasts. The technical picture is showing signs of crude topping out around this level and it may well be worth taking the short side of the market for this [...]
A new haven for gentlemen December 13, 2010 DESPITE the growing popularity of beauty products aimed at men, the prevailing wisdom in the grooming industry is that the majority of bloke-orientated creams, cleansers, colognes and aftershaves are bought for men by women. Some retailers put that figure as high as 70 per cent. While we’re more used to slathering ourselves in lotions and [...]
FIT IN THE CITY December 13, 2010 FITNESS & DIET EXPERT 1. CHOOSE YOUR POISON WISELY: UNLESS YOU WANT AN OVERHANG like Johnny Vegas, go easy on the beer. An eight pint binge means you’re taking in a whopping 1,600 empty calories – that’s the calorie-equivalent of a very large takeaway. Spirits with diet drinks and champagne make for better waistline choices. [...]
