Hunger for mining shares sees FTSE stay above 6,000 level February 7, 2011 MINERS lifted Britain’s top share index higher yesterday, driven by record metal prices and results from Randgold. The FTSE 100 closed 53.65 points, or 0.9 per cent, firmer at 6,051.03, its highest finish since 18 January and marking the fourth gain in the past five trading days. “A fresh year high is being eyed with [...]
Berggruen to float cash shell on LSE February 6, 2011 THE “homeless billionaire” Nicolas Berggruen is to float a cash shell on the London Stock Exchange. He will seek £700m from investors for his Justice investment vehicle, which he plans to use to make an acquisition worth between £1bn and £5bn. It is understood Lord Myners, who was appointed City minister in 2008 under the [...]
Time running out for Merlin February 6, 2011 THE Treasury is anxious to get banks to agree to an industry-wide lending commitment under “Project Merlin” before earnings season starts. But time is running out for the initiative to improve the industry’s image. Barclays will kick off the major UK banks’ full-year results season next Tuesday, with its new chief executive Bob Diamond expected to receive [...]
Barclays joins £115m Daisy loan syndicate February 6, 2011 BUSINESS telecoms group Daisy has secured an additional £40m credit facility to help fund further acquisitions, the firm will announce today. AIM-listed Daisy has brought in Barclays as the fourth lender in its syndicate, which also includes Lloyds TSB, Yorkshire Bank and HSBC. Daisy now has access to £115m through the credit facility. Chief financial [...]
Rexam may sell beverages arm February 6, 2011 BRITISH can maker Rexam has appointed Barclays Capital to sell its beverage and specialties arm in a deal that could be worth £200m. Final bids for the business, which makes lids for drink and food containers, are expected this week. A Rexam spokesman said that the company was considering options for the unit. Shares in [...]
BEST OF THE BROKERS February 6, 2011 BG GROUP Deutsche Bank rates the oil explorer “buy” with a target price of £13.34. The broker expects BG to report upstream production growth when it brings out fourth quarter results tomorrow, with a predicted 12 per cent rise in profit for the division. DB also forecasts stellar reserves growth given recent finds in Tanzania [...]
Di Matteo stunned at his sacking February 6, 2011 ROBERTO DI MATTEO admitted he was “surprised and disappointed” after being sacked by West Bromwich Albion. The former Chelsea midfielder was placed on gardening leave yesterday with the Baggies outside the relegation zone on goal difference. A statement released by Di Matteo through the League Manager’s Association read: “I was extremely surprised and disappointed to be relieved of [...]
Winning the icy chukkas – the bank that hosts a snow-polo tournament February 6, 2011 THE game of polo is one of the oldest sports in the world. Originating in ancient Persia, it is thought to have begun as a way of training elite cavalry troops. It was brought back to Europe in the 19th century through the Calcutta Polo Club, established by two British officers in India who formalised [...]
Forget gold, here’s the copper rush February 6, 2011 CRACK open your piggy bank and empty your penny jar. Do it now and do it fast. Forget about the gold rush; it is all about the copper rush now. The price of the metal is going through the roof, hitting $10,000 a tonne. This sort of price action means the two pence piece in [...]
Barclay banks on special attention February 3, 2011 SCOTLAND openside John Barclay is looking forward to putting his reputation as one of the best back-row forwards in the game on the line against France in Paris tomorrow. The RBS 6 Nations holders boast a talented pack including skipper Thierry Dusautoir, Julien Bonnaire and Imanol Harinordoquy, and Barclay knows he’ll be singled out for [...]