Russia plans $29bn state asset sell-off July 28, 2010 RUSSIA plans to sell $29bn worth of assets on the open market, a senior government official said yesterday, allaying investors fears about the transparency of the biggest privatisation since the 1990s. The planned asset sale is designed to fill budget holes that Russia is to battle for the next few years. “We will sell significant [...]
CITY MOVES | WHO’S SWITCHING JOBS July 28, 2010 Collins Stewart The financial advisory group has appointed a new equity research, sales and corporate broking team, focused on the mining sector and headed by John McGloin (pictured). McGloin has worked as an analyst for the past eight years at Beeson Gregory and Evolution. He is joined by mining analysts Tim Dudley and Andrei Kroupnik; [...]
BEST OF THE BROKERS July 28, 2010 INFORMA Royal Bank of Scotland (RBS) believes that Informa’s first-half results demonstrated a turning of the cycle –both operationally and from a capital allocation perspective because the firm upped its dividend by 25 per cent. RBS reiterates a “buy” recommendation for Informa and raises its target price to £4.70. WHITBREAD JP Morgan Cazenove retains a [...]
Domestic demand adds to South Korea’s roar July 28, 2010 FROM shipbuilding and car manufacturing to world-class information technology and high-tech white goods, South Korea has gone from strength to strength since the 1960s. In the 1990s, South Korean multinational firms made a deliberate shift towards more high-technology goods and it is now home to well known household names such as Samsung, Hyundai, Daewoo and [...]
Investors need to hedge their equities risk July 28, 2010 SAVVY investors should be moving into any asset class except equities – that’s at least according to Saltus Partners’ Jon Macintosh. Macintosh says that advanced economies’ stock markets are in for a period of downward or sideways movement, potentially for the next decade or more. He claims there’s only one scenario in which investors should [...]
LISTED PRODUCT NEWS July 28, 2010 EUROPEAN ETFS ENJOY NET INFLOWS Data provided by iShares, the ETF provider, found that there were more than $226m of net inflows to European sector ETFs that track the Eurostoxx 600 last week. The largest flows went to industrial goods and services, which had $103m of inflows. Utilities experienced the second largest flows of $50m. [...]
THE TIPSTER July 28, 2010 AFTER an impressive run from 755p at the beginning of the month Antofagasta has managed to just pop above the 1,000p level but it looks like it might have just run out of steam leaving it unable to break the earlier high of the year, of 1,088p. Worldspreads’ current price for Antofagasta is 988p-991p. Despite [...]
Graduates with chutzpah can find jobs July 28, 2010 IT’S tough out there for graduates. A survey by the Association of Graduate Recruiters found that for every job there are 68.8 applicants, with the number going up to 205 for jobs in food, confectionary and cosmetics. Aldi, the supermarket chain, received 12,000 applications for 50 places on its management scheme. Seventy-eight per cent of [...]
HOW TO MAKE THE RIGHT IMPRESSION July 28, 2010 IMAGE IS EVERYTHING Look conservative with a small c – think West Wing, not Sex and the City. Make sure that you accessorise carefully and avoid any novelty fashion. If in any doubt, aim for a smarter look than you think is needed – it’s better to be safe than sorry. ACT CONFIDENT EVEN IF [...]
What now? Prepare for the next crisis July 28, 2010 PREDICTING the future can be a notoriously tricky business. If people declare with certainty that things will happen, they often don’t. While things that no one saw coming have a horrible habit of actually happening. The Asian financial crisis in 1997 came as everyone was talking about an “Asian economic miracle”, while the most recent [...]
