Frankel poised for Ascot outing May 20, 2012 Superstar Frankel’s next test is likely to be the mile-long Queen Anne Stakes at Royal Ascot next month. The Sir Henry Cecil-trained four-year-old extended his unbeaten record to 10 in the JLT Lockinge Stakes at Newbury on Saturday.
Rodriguez beaten but still leads May 20, 2012 Italian Matteo Rabottini survived a crash to pip Joaquim Rodriguez to yesterday’s 15 stage of the Giro d’Italia but the Spaniard retained the overall lead. Farnese Vini’s Rabottini passed Katusha’s Rodriguez, who leads Ryder Hesjedal by 30 seconds, on the final bend.
Facebook shares close just above IPO price May 18, 2012 Shares in social network firm Facebook closed just a few cents above its IPO price at $38.23 – despite jumping 12 per cent to $42 in initial trades. The eight-year-old firm listed this morning on the NASDAQ index and shares began trading at 11.30am local time (4.30pm BST), thirty minutes later than expected after the exchange [...]
PLUS Markets sells stock exchange to ICAP May 18, 2012 Troubled exchange operator PLUS markets announced this afternoon that it has offloaded its flagship market to interdealer broker ICAP – just days after the board said the group will be wound up. The deal, valued at just £1, will see ICAP take over PLUS Stock Exchange Ltd on a cash-free, debt-free basis. “PLUS-SX remains a [...]
Banknote producer prepares for potential Greek currency May 18, 2012 Banknote producer De La Rue has drawn up contingency plans to print drachmas should Greece exit the euro and approach the British money printer. A source said that as a commercial printer De La Rue needed to be alive to the possibility of a Greek exit from the single currency and prepare accordingly. Panmure analyst [...]
Northern Rock cost taxapayers £2bn May 18, 2012 Northern Rock’s rescue has landed the taxpayer a bill of at least £2bn, an official report has found. The estimated losses are flagged by the National Audit Office (NAO) report into the nationalisation of the bank in 2008. The report accuses former chancellor Alistair Darling, for failing to look at the full consequences to the [...]
PHP completes £19m placing May 18, 2012 GP landlord Primary Health Properties (PHP) has raised £19m in a placing. The placing price of 305 pence will be used to fund acquisitions. Harry Hyman, managing director of PHP, said: “Market conditions continue to present PHP with attractive investment opportunities.” Brokerage Peel Hunt said that the placing should help bridge PHP’s uncovered dividend. “With [...]
FTSE drained by Spain and greece woes May 18, 2012 THE FTSE 100 tracked losses across Europe this morning as fast moving events in Greece and Spain drained investor confidence. Moody’s downgraded Spanish banks overnight and Fitch cut its debt rating for Greece as the Eurozone crisis deepened. Spain has lurched into recession and its borrowing costs jumped at an auction yesterday while its banks [...]
Moody’s downgrades 16 Spanish banks May 18, 2012 Moody’s Investor Service carried out a sweeping downgrade of 16 Spanish banks, including Banco Santander, the Eurozone’s largest bank, citing a weak economy and the government’s reduced ability to support troubled lenders. All the banks’ long-term debt ratings were downgraded by at least one notch, and some suffered three-notch cuts. Spain’s banks, awash in bad [...]
Mitchells & Butlers profits fall May 18, 2012 Restaurant and pub group Mitchells & Butlers has reported a dip in profits as the rising cost of food and fuel undermined rising revenues. The owner of chains including Harvester, All Bar One and O’Neills, which earlier this year faced a shareholder revolt over management and ownership issues, gave scant details on its search for [...]
