CPP hopes to buck the trend of IPO failures in March listing February 18, 2010 INSURANCE firm CPP will brave choppy IPO waters with a March flotation. It has not announced how much it plans to raise but City A.M. has learned the firm hopes to issue up to £30m from new shares, valuing it at £450m. It is believed owner and founder Hamish Ogston will also sell a £150m [...]
RISK TRADE IS HEADING DOWN UNDER February 16, 2010 TURN on financial television these days and you see nothing but a procession of analysts offering their eulogies for the Eurozone. In fact, the worries about the fragmentation of the EU have become so uniform and the chorus of euro bears has become so loud that the euro may be due a bounce as short-term [...]
Play the Asian growth story using the baht February 16, 2010 LAST week the Vietnamese authorities devalued the dong by 3.4 per cent against the US dollar, the second adjustment to the currency in three months. But, its Asian neighbours are not going to follow its lead, and some currencies could actually appreciate in the coming months. The Bank of Thailand specifically ruled out a devaluation, [...]
Volatile foreign exchange markets are back on the agenda for 2010 February 16, 2010 SIX months ago, it seemed that the worst of the global crisis was over. The markets had calmed down, the economic recovery appeared to be firmly on track and traders seemed to have regained their risk appetite. But just as we thought things were on the mend, a sovereign debt crisis in the Eurozone coupled [...]
Banks and commodities make gains as Wall Street is closed for public holiday February 15, 2010 BRITAIN’S leading shares rose 0.5 per cent yesterday, led by firmer banks and commodity issues after falls in the previous session, while British Airways climbed on increased hopes for a global alliance. At the close, the FTSE 100 was 25.02 points higher at 5,167.47, well below the session peak of 5,194.29. Blue chips drifted off [...]
European stocks boosted despite Greek concerns February 15, 2010 EUROPEAN shares closed higher yesterday, supported by gains in banks and miners while defensive food producers fell, but a lack of clarity over eurozone support for Greece was seen capping further gains for equities. The FTSEurofirst 300 index of top European shares provisionally closed 0.4 per cent higher at 991.76 points, after falling 0.3 per [...]
How City high achievers are tapping into fresh energy February 15, 2010 I’M lying in a citrus-scented room near Spitalfields market, a moist herbal mask over my face and eyes. Tinkling oriental music is playing, and a woman in a white, clinical uniform is seated in front of a big orange screen at the front of the room, with a microphone affixed to her head, encouraging us [...]
SPREAD BET GURU February 14, 2010 Q.Dear Josh, what should I keep an eye out for this week when trading equities? A.We are getting stuck in to the UK earnings season now and there are a number of firms announcing this week, including Barclays, Intercontinental Hotels, BAE Systems and the miner Anglo American. Barclays will be the major focus because it [...]
Alcatel-Lucent’s losses widen February 11, 2010 Alcatel-Lucent yesterday posted a wider-than-forecast loss, missed revenue expectations and cut its 2010 operating margin target, buffeted by a tough market for telecommunications gear. Alcatel posted 2009 revenue of €15.16bn (£13.22bn), an adjusted loss of €56m, and a net loss of €524m. Shares plunged at the French-American group that has struggled to compete with larger [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 10, 2010 FINANCIAL TIMES BOCOM EYES $500M PRIVATE EQUITY FUND Bank of Communications is to launch a US dollar private equity fund in the latest sign of mounting Chinese interest in the asset class. BoCom International, the bank’s overseas arm, said on Wednesday it was targeting a $500m fund that would invest in mainland groups. The fund [...]