Trading on global risk sentiment November 20, 2011 AS IS the case across all asset classes, sentiment in the commodity markets hinges upon the belief, or lack thereof, in the ability of politicians and policy makers to find a solution to the European debt crisis. With no sign of a meaningful, long-term cure for Europe’s ills on the cards, cyclical commodities, like industrial [...]
South African billionaire in talks to take over Tower 42 November 17, 2011 SOUTH African billionaire Nathan Kirsh could soon be making a comeback to the City as the new owner of the Tower 42 skyscraper. Kirsh’s family office is understood to be in advanced talks to buy Natwest’s former headquarters on Old Broad Street, which would mark Kirsch’s first deal since selling a 29 per cent stake [...]
BHP Billiton urges caution as market outlook turns bleaker November 17, 2011 THE HEAD of mining giant BHP Billiton, Marius Kloppers, sounded a warning yesterday that trading conditions for commodities firms were worsening as the climate became tougher. Kloppers reassured investors at BHP’s annual meeting in Melbourne, Australia, that the environment was not as bad as during the financial crisis in 2008, but said the group was [...]
This tax will not fly: Don’t ground Britain’s growth November 17, 2011 THE chief executives of rival airlines Virgin Atlantic, easyJet, Ryanair and the IAG group – which includes British Airways – do not normally agree to share a platform. That they chose to yesterday morning – outlining their opposition to Air Passenger Duty (APD) – is a sign of how seriously the aviation sector takes this [...]
RENT November 17, 2011 HEAD OF RENTALS AT AYLESFORD INTERNATIONAL Q.I believe the agent letting my house is overvaluing it. I’ve compared my property to other similar houses on the market and they all are significantly cheaper. Should I change agent? A.It is important to keep a dialogue with your agent who will be able to tell you why [...]
BEST OF THE BROKERS November 16, 2011 CARLSBERG Goldman Sachs has downgraded the brewer to “neutral” following recent outperformance, and has a target price of 428 crowns. While the firm’s results last week were strong, the broker now sees better upside potential elsewhere in the drinks sector, given Carlsberg’s exposure to the competitive western European markets. Goldman expects Carlsberg’s Russian beer market [...]
Profits rise as Burberry stays upbeat November 15, 2011 BURBERRY’s chief executive Angela Ahrendts said demand across flagship stores in cities such as New York and Hong Kong was helping the group to defy the downturn, as the fashion house reported strong first half results. The 155-year-old British brand, known for its signature raincoats, made 60 per cent of retail revenue in 25 cities [...]
Bolton’s blues over slump in Chinese fund November 14, 2011 HE IS the star fund manager whose stock picks have been the envy of the City for the best part of 30 years. Now, however, a year after Anthony Bolton left Britain for Hong Kong, he has found life is far from easy in the East. Yesterday Bolton (pictured) apologised to investors for the “very [...]
AT A GLANCE: BOLTON’S TAKE ON MARKETS, THE WORLD AND WAR November 14, 2011 Market view Bolton struck a bullish tone in his half-yearly message to investors, despite a “most disappointing” six months. He said a strong market recovery was “likely” over the next few months after sentiment plunged at the beginning of October to the lowest levels he had seen in his career. “The most important reason that I [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 13, 2011 FINANCIAL TIMES PRIVATE EQUITY GROUPS BOOST STAKES IN HOT FUNDS Investors in the secondary leveraged buy-out fund market are using further leverage to finance such purchases, adding another layer of risk and stirring up memories of the debt-fuelled private equity boom ahead of the financial crisis. While private equity groups in Europe and the US [...]