BEST OF THE BROKERS July 27, 2009 SANTANDERKBW maintains an “outperform” rating on Santander, predicting “resilient” second-quarter net profit of ?2,373bn (£2bn), down six per cent year-on-year. The broker recently increased its EPS prediction based on lower provisions in Spain, as well as improving operating profits and favourable currency moves at Abbey and in Brazil. BPEvo Securities takes a “Buy” rating on [...]
Commerzbank offloads Swiss private bank to LGT, avoiding row with Berlin July 27, 2009 GERMANY’S Commerzbank has reached a deal to sell the Swiss private banking arm of Dresdner Bank to Liechtenstein’s LGT Group, the bank that was embroiled in a tax evasion probe last year. The transaction, at an undisclosed price, will double LGT’s assets under management in Switzerland to just under Sfr20bn (£11.4bn), bringing total assets to [...]
GRID POWERS ON July 27, 2009 NATIONAL GRID, which runs the UK’s network of electricty pylons, yesterday said it expected a strong performance this year, and its £3.4bn investment programme for the current year remained on target. The company forecast improved profit in its electricity distribution and generation business.
TNT profits slip as cost-savings targets are hiked July 27, 2009 TNT yesterday reported a 45 per cent fall in quarterly core profit, its fourth consecutive year-on-year decline, and the Dutch mail company boosted its cost savings target to cope with weaker demand for delivery services. Europe’s second-largest mail and express delivery company after Deutsche Post also decided to issue an interim dividend of €0.18 per [...]
Thales hit by plane delays July 27, 2009 DEFENCE group Thales swung into the red for the first half of 2009, the company said yesterday, blaming writedowns and aerospace industry weakness for its losses. First-half operating profit slumped to €68m. The deeper-than-expected 82 per cent slide in profits reported by new boss Luc Vigneron came after Thales reported a fresh €102m (£87m) loss, [...]
GB set to name Worlds squad July 27, 2009 ATHLETICS: Great Britain will today announce their squad for next month’s World Championships in Berlin. Controversial sprinter Dwain Chambers is among those sweating on his place at the event, which starts on 15 August.
England wait on IRB verdict July 27, 2009 RUGBY UNION: England are hotly-tipped to be named hosts for the 2015 World Cup today. South Africa, Japan and Italy are the other countries considered by the International Rugby Board, who are also set announce the 2019 hosts.
Contador slams rival Armstrong July 27, 2009 CYCLING: Tour de France winner Alberto Contador last night launched a stinging attack on Astana team-mate Lance Armstrong – just hours after the third-placed American praised him. “My relationship with Lance Armstrong is zero,” Contador said. “He is a great rider but it is another thing on a personal level, where I have never had [...]
Coe: London ‘ahead of schedule’ July 27, 2009 OLYMPICS: London 2012 organisers’ chief Sebastian Coe says preparations are ahead of schedule, three years before the Games begin. Coe, who yesterday took part in the inaugural journey of the Javelin Train, which will ferry spectators from St Pancras to Stratford, said all 10 targets set for this stage had been achieved. “We are a [...]
Bendtner to snub Milan for Arsenal July 27, 2009 ARSENAL striker Nicklas Bendtner has rubbished suggestions he is set to join AC Milan and pledged his future to the Gunners. The Dane, 21, has been linked with a move to the Italian giants, who are in the market for a forward. But Bendtner, who scored twice in Arsenal’s 5-0 victory over Hungarian outfit Szombathely [...]
