Exillon Energy agrees to meet to discuss overhaul of board January 14, 2013 OIL explorer Exillon Energy yesterday agreed to a shareholder meeting, which could see its chairman removed as a director. Over the weekend, shareholder Worldview Capital Management wrote to the oil explorer to demand an EGM and three new board members. The shareholder, which Exillon says has around two per cent in voting rights, wants to [...]
Analyst Views | How did Greene king’s trading update affect your recommendation? January 14, 2013 NICK BATRAM PEEL HUNT Trading remains tough, but the group continues to deliver both top-line and margin growth. The quality of the estate and management together with the undemanding rating leaves Greene King as a core “Buy” in the sector. We retain our 702p target price. SIMON FRENCH PANMURE GORDON Our fear is that if [...]
Afferro exclusivity period ends January 14, 2013 Takeover target Afferro Mining yesterday confirmed that its period of exclusivity with an unnamed bidder had ended – although discussions with the party were ongoing – and it was free to start formal discussions with other parties. Fellow Aim-listed International Mining & Infrastructure Corporation has approached the miner with regards to a possible takeover offer.
Shanks nets £750m waste deal January 14, 2013 Waste management group Shanks has won a 25-year contract with Wakefield Council worth £750m, which will see the firm build a residual waste treatment facility to process up to 230,000 tonnes a year of municipal solid waste and turn it into electricity. The contract has been funded by the UK Green Investment Bank and a [...]
Optimal Payments tops forecasts January 14, 2013 Shares in Optimal Payments rose 5.5 per cent yesterday as the online credit card processing firm said it expected to beat full-year forecasts. The Aim-listed firm put the success down to a strong showing in the second half of last year, especially by its divisions in Asia. The group expects full year revenue of at [...]
City Moves for 15 January 2013 | Who’s switching jobs January 14, 2013 Brookland Partners The real estate focused investment bank has appointed Dawn Prideaux de Lacy as its new chief operating officer. She was previously global chief operating officer at ING Real Estate Investment Management. Prideaux de Lacy has over 30 years’ experience in the industry, and is also a former chief administrative officer of Morgan Stanley [...]
Best of the Brokers January 14, 2013 WM MORRISON UBS rates the supermarket “neutral” and has cut its price target by 20p to 250p following lacklustre Christmas trading figures announced last week. The analyst warns that Morrison’s cost-cutting plan is being made more difficult by underlying declines in sales volumes and cost inflation. UBS has also pared its like-for-like sales forecasts for [...]
FTSE falls from four-year high as analysts warn on energy shares January 14, 2013 BRITAIN’S leading shares fell yesterday after touching a 4-1/2 year high early in the session, with technical analysts noting the index could be set for a minor correction. Energy stocks, among Friday’s biggest gainers, were the main drag on blue-chip sentiment as Nomura warned that the sector was inexpensive for a reason and attractive price-to-earnings [...]
Apple stocks take a bite out of US markets January 14, 2013 THE S&P 500 and Nasdaq ended lower yesterday as worries over demand for Apple products drove down its shares and as investors braced for earnings disappointments. But Dell’s stock jumped 13 per cent to about a five-month high at $12.29, offsetting some of the tech-sector weakness, after Bloomberg reported the number three personal computer maker [...]
Irrational drugs policies incentivise experimenting with the unknown January 14, 2013 THE UK spends more than any other country in Europe on its drugs policy – 0.48 per cent of GDP according to the European Monitoring Centre for Drugs and Addiction. Yet it has some of the continent’s highest rates of problem drug use. More recently, we’ve also become global leaders in so-called legal highs – [...]
