Mixed mining shares weigh on FTSE February 15, 2013 The blue chip index edged down in early deals after a mixed performance from headline mining shares. Anglo American was the biggest riser, adding more than three per cent in early deals, despite it posting a sharp drop in 2012 earnings as it was hit by last month’s $4bn write-down on Brazilian project Minas Rio. [...]
City Moves for 15 February 2013 | Who’s switching jobs February 14, 2013 CBRE The property firm has appointed Andrew Peacock as head of central London asset management. He joins after 24 years at Aviva Investors, where he held a number of senior roles, including manager of its central London office portfolio. Towers Watson The professional services company has appointed Liz Rennie as senior consultant in its human [...]
Amec weighs on FTSE February 14, 2013 The FTSE 100 edged down this morning as oil engineer Amec weighed heavily on the index. Shares in the engineer lost more than 5.5 per cent in early trading, despite it posting an 11 per cent hike in annual earnings this morning, enabling it to pledge a 20 per cent increase in its dividend. “In [...]
Crest Nicholson hails a jubilant market return February 13, 2013 CREST NICHOLSON made a successful return to the stock market yesterday, after the 50-year old British housebuilder completed a listing which valued it at £553m. The company, taken private by Scottish entrepreneur Tom Hunter at the height of the housing bubble in 2007, priced its shares at 220p, the upper half of its original range. [...]
City Views | Are you worried inflation has been above target for so long? February 13, 2013 RICHARD WINSTON | BADENOCH & CLARK On a such a small percentage, when I get my monthly paycheck I don’t think about it and if you’re getting an annual pay rise above the rate of inflation, then in real terms it’s not affecting you. GLYNIS WIGGINTON | KEMP LITTLE The rise is very tangible for [...]
Firms going ex-dividend hit FTSE 100 February 13, 2013 The leading share index fell this morning, ending a three-session rally as it was weighed down by a number of blue chips going ex-dividend. Pharmaceutical giant AstraZeneca led the fallers, shedding more than three per cent as it went ex-dividend. Business software provider Sage and oil giant BP fell 1.63 per cent and 1.44 per [...]
Crest Nicholson float values firm at £553m February 13, 2013 Crest Nicholson this morning set a price of 220p a share for its London IPO, valuing the company at £553m. The property group said today it expected to raise gross proceeds of around £224.9m, comprising a primary component of £56m and secondary sales of £168.9m from existing shareholders. The shares will start trading on the [...]
Jenkins slashes jobs and pay to shore up profit February 12, 2013 BARCLAYS shares soared as the bank announced a major cost-cutting plan yesterday, shutting four business units and shaking up another 32 of its 75 units to streamline the institution and shore up profits in the face of a weak economic outlook. Chief executive Antony Jenkins announced 3,700 job cuts – well above the 2,000 expected [...]
Barclays’ new broom shows he can balance the books February 12, 2013 CONSIDERING the glee with which investors reacted to Antony Jenkins’ plans yesterday, you’d been forgiven for thinking his cost cuts and clean-up had come out of the blue. But these changes were widely trailed – almost down to the letter – so why was an extra 26p added to the bank’s share price yesterday, on [...]
Fight club finds a new home at City tailor shop February 12, 2013 TWO ex-bankers turned bespoke City tailors have found themselves playing host to a group of their former contemporaries – not for suit fittings – but a series of rather unorthodox Skype conferences. Ian Meiers and James Sleater, co-founders of City tailor Cad & the Dandy, are sponsoring the self-defence seminars given by macho-man Tim Larkin. [...]