Findel sales lifted by Express Gifts October 3, 2012 Home shopping group Findel yesterday reported positive first half sales figures on the back of a strong performance by Express Gifts, the largest of its businesses. First half sales for Express Gifts were 18 per cent ahead of last year, contributing to overall group sales growth of 7.9 per cent. Findel said that its peak [...]
Deutsche Telekom joins MetroPCS October 3, 2012 Deutsche Telekom and MetroPCS said yesterday they will merge their US mobile operations to create a larger fourth-place player better able to compete with rivals. The boards of both companies voted yesterday to approve the deal, which will see Deutsche Telekom hold 74 per cent and MetroPCS 26 per cent in the combined entity.
BTG increases revenue forecasts after a strong first half to year October 3, 2012 SPECIALIST healthcare company BTG yesterday raised its full-year profit guidance, thanks to strong first-half trading. After a strong six months that came in ahead of expectations and a positive outlook for the second half, BTG raised its revenue expectations for the year to the end of March 2013 to between £205m and £215m from previous [...]
ABG ups gold reserve estimate October 3, 2012 London-listed African Barrick Gold has increased its gold reserve estimates by 900,000 ounces at the Bulyanhulu Upper East Project in Tanzania as it continues to expand its mining on the project. ABG will now complete a feasibility study on the area. Production for the project is expected to start at the end of 2014 and [...]
Petra Diamonds miners strike October 3, 2012 A strike continued at Petra Diamonds’ Kimberley Underground mine yesterday, as a number of diamond miners remained on strike. It is understood that the strikes are related to wage demands, and the company is talking to the National Union of Mineworkers. FTSE 250-listed Petra Diamonds employs around 570 employees at the South African Kimberley Underground [...]
Shell opens Russia lubricants plant October 3, 2012 Shell yesterday opened a new lubricants blending plant in the Tver region north-west of Moscow, the first to be built by an international oil company in Russia. The new plant will supply a range of finished consumer, transport and industrial lubricants, blending up to 200m litres a year and creating 150 Russian jobs when at [...]
BG Group offloads Indian asset October 3, 2012 BG Group yesterday sold its interest in India’s Gujarat Gas Company for 24.6bn Indian rupees (£293m) to GSPC Distribution Networks, a Gujarat subsidiary. BG Asia Pacific Holdings will sell 65.12 per cent of its interest in the Indian company, the country’s largest private sector natural gas distribution company. The transaction will complete during the first [...]
Who’s switching jobs October 3, 2012 Pioneer Investments Jonathan May has been appointed head of institutional business development, UK at the investment management group. He joins from Aviva Investors, where he was been head of global consultant relations. May has 20 years’ experience in the industry, and has also held senior positions at Fidelity International. Marex Spectron The commodities-focused financial products [...]
Best of the Brokers October 3, 2012 RBS Investec has changed its rating from “sell” to “hold”. It said the stock appeared overpriced following a slow return on earnings recovery. The stock now has a target price of 255p CAPITA Shore Capital has retained its “sell” rating on the firm after Capita lost a contract from the Criminal Records Bureau, previously delivering [...]
Popularity of defensive stocks sees FTSE rise but Spanish fears remain October 3, 2012 BRITAIN’S benchmark share index rose yesterday, driven by gains in “defensive” stocks seen as the most resilient to an economic downturn, although traders said concerns over Spain’s debt crisis could limit gains. The blue-chip FTSE 100 index closed up 0.3 per cent, or 16.36 points higher, at 5,825.81 points. Increases in heavyweight “defensive” stocks such [...]
