Walgreens to raise curtain on partnership with Alliance Boots February 11, 2013 US pharmacy giant Walgreens and Alliance Boots are to meet with investors and analysts in the City tomorrow to update on the progress of its merger that will see the creation the world’s largest pharmacy group. The meeting, which will be followed by a site visit to Boots’ headquarters in Nottingham, led to speculation this [...]
US markets are quiet after six weeks of gains February 11, 2013 US stocks ended a quiet session with slight moves yesterday as investors found few reasons to keep pushing shares higher following a six-week advance, though the longer-term trend was still viewed as positive. The benchmark index is up more 6.4 per cent in 2013, putting both the S&P 500 and Dow industrials near multi-year highs. [...]
BlackRock makes $55m punt on Manchester United shares January 30, 2013 INVESTMENT giant BlackRock yesterday bought eight per cent of the available shares in Manchester United football club, worth around $55m (£34.8m) at yesterday’s closing price. A filing with the US Securities and Exchange Commission reveals the New York-based company has snapped up 3.3m shares in the Old Trafford-based business. The football club completed its IPO [...]
Record-breaking United pierce £2bn barrier after share surge January 28, 2013 MANCHESTER United have become the first outfit in world sport to be valued at more than £2bn, according to Forbes, following a surge in the club’s share price. United’s $3.3bn (£2.1bn) enterprise value is 50 per cent greater than their nearest challenger, American football team Dallas Cowboys, who are worth $2.1bn (£1.3bn) according to the [...]
Wandisco leads the way for UK technology flotations January 24, 2013 We have already seen the likes of Luxfer, Edwards and Manchester United list in New York when they might have been expected to grace the London flotation markets. Now there are rumblings that Intelligent Energy, a clean energy technology, might look overseas for a listing if it chooses to go for one. And my fellow [...]
Wall St inches higher despite Apple’s plunge January 24, 2013 THE smallest of gains gave the Standard & Poor’s 500 its seventh straight winning day yesterday, but the index failed to hold above the 1,500 line, restrained by Apple’s worst day in more than four years. Apple slid 12.4 per cent to $450.50 a day after it posted revenue that missed Wall Street’s forecast as [...]
BlackRock sees profits surge on equity demand January 17, 2013 FUND titan BlackRock soared to a three year share price high yesterday after posting a 24 per cent increase in profits, led by high demand for its exchange traded funds (ETFs). The New York based money manager, the world’s biggest with $3.8 trillion of assets under management, attracted $47bn of extra cash from investors in [...]
Goldman and JP Morgan help boost Wall St January 16, 2013 THE S&P 500 ended nearly flat yesterday as solid earnings from two major banks and a bounceback in Apple shares offset concerns about a lower forecast for global growth in 2013 (see UK report). Shares of Goldman Sachs hit their highest since May 2011 as earnings nearly tripled on increased revenue from dealmaking and lower [...]
Hedge funds lift debt levels in bid to cash in on equity rally January 14, 2013 HEDGE funds are loading up on record levels of debt to try and make money off the New Year rally in stock markets, according to industry figures leaked yesterday. Data from Morgan Stanley, seen by Bloomberg, shows gross leverage at US hedge funds – which measures money borrowed by funds versus money given to them [...]
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 [...]