Blue-chip index falls for eighth straight session – London Report December 15, 2015 OIL AND commodity price concerns have continued to drag on the FTSE 100, with the index touching 10-week lows at its close last night. It finished down 1.3 per cent at 5,874, its eighth straight session of losses, and down around 10 per cent so far this year. The price of key metals, including copper [...]
Best of the Brokers for 15 December 2015 December 15, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com INVESTEC Following recent significant weakness in the South African rand, Numis slashed its forecasts for Investec’s financial results. Numis’ earnings per share forecast for this year has been cut 3.5 per cent while next year’s has been cut 8.5 per cent. “We have [...]
London grandchildren more dependent on grandparents than anywhere else in the UK – with most of capital’s over-55s still providing support to adult children December 14, 2015 Bank of mum and dad has become bank of mum's mum and dad for many Londoners, as research from peer-to-peer lending service Zopa has discovered that those in the capital rely more on grandparents for financial and childcare support than elsewhere in the UK. More than three-quarters (77 per cent) of grandparents in London are [...]
Cracking the emerging company finance problem – Invest Comment December 14, 2015 An important sector of the UK economy – private companies making profits of between £1m and £5m each year – is not getting the attention it deserves. These firms (also known as emerging companies) don’t grab the headlines like large FTSE 100 businesses. Nor do they receive the media coverage enjoyed by fast-growth startups. And [...]
FTSE 100 closes down as Sports Direct struggles – London Report December 11, 2015 Gains for Glencore couldn’t keep the FTSE 100 up last night as both Sports Direct and Old Mutual fell hard. The index closed 0.63 per cent down at 6,088. Sports Direct slumped after Mike Ashley’s retailer posted poor first-half results and the company was criticised for staff conditions. Group revenue ticking up 0.1 per cent [...]
At the close: FTSE 100 index closes down on Sports Direct, Old Mutual December 10, 2015 The FTSE 100 index slid in Thursday's trading despite gains by Glencore as both Sports Direct and Old Mutual tumbled. The index closed 0.63 per cent down at 6,088 points. Sports Direct slumped after Mike Ashley's retailer posted underwhelming first half results and the company was criticised for staff working conditions. Group revenue ticking up 0.1 per cent to £1.43bn, [...]
These were some of the worst investments of 2015 December 10, 2015 From a slowdown in the Chinese economy to the Greek debt crisis, a number of events burnt the hands of even the shrewdest investors this year. Here’s a round-up of some of the worst. Mounting fears China’s economy is slowing at a greater pace than previously thought gave investors a bumpy ride in 2015. China’s [...]
US-based Computer Sciences Corporation set to buy Xchanging in £480m deal, beating out a previous offer from Capita December 9, 2015 Business technology and services provider Xchanging’s board of directors today agreed to be purchased by US-based digital consultancy company Computer Sciences Corporation (CSC). CSC’s cash offer of 190p per share, which is worth about £480m, beat out an offer of 160p per share from outsourcing giant Capita, which had also shown an interest in buying [...]
Entertainment One share price: Peppa Pig maker reassures investors after sell-off December 9, 2015 Peppa Pig producer Entertainment One has insisted the company is still trading well after the company announced a debt deal that prompted a major sell-off of its shares yesterday. The company revealed its plans to issue £285m in bonds, as part of plans to replace existing debt facilites, on Friday. But its shares closed down 20 per [...]
Share price of Peppa Pig maker Entertainment One plummets as brokers’ sentiment falls December 8, 2015 Entertainment One's share price plummeted in late morning trade after a number of brokers either reduced their target price or downgraded the company's stock. Shares were down 11.51 per cent at 156p per share, leading the FTSE 250 lower, which was itself 0.38 per cent down at 17,290 points. Read more: eOne brings home the bacon as profits fly The company's share price [...]