Analysts expect RBS to announce more growth in capital buffers this week October 25, 2015 Royal Bank of Scotland (RBS) is expected to announce further growth in its core capital buffers later this week, fuelling speculation over when the bank will pay its first dividend since the financial crisis. Analysts at Bernstein Research expect RBS to announce on Friday that its core capital buffers grew to 12.6 per cent in [...]
Investec: Lloyds Banking Group will post a £2.3bn profit this week October 25, 2015 Lloyds Banking Group is expected to post a rise in quarterly profits on Wednesday, in its first set of results since chancellor George Osborne announced that retail investors would be able to buy shares of the bailed-out bank at a discount next year. Citing “modest revenue growth, lower costs and potentially no charge at all for [...]
Frankie to lay a solid Foundation for next season October 23, 2015 Frankie Dettori must have to pinch himself when he looks back on this season. The world’s most famous jockey has had plenty of lows in recent years, but they have been laid to rest after a quite remarkable 2015. Golden Horn has been his saviour. Wins in the Investec Derby, Coral Eclipse, Irish Champion [...]
Lonmin share price dips as it reveals plans for cash call in the face of debt crunch October 21, 2015 Embattled Lonmin has become the latest miner to ask for cash from its shareholders, as it struggles with an unwieldy debt load taken on at the height of the commodities boom. The South African platinum producer outlined plans for a $400m (£259m) rights issue, which it needs for banks to agree to $370m in debt facilities that will [...]
Best of the Brokers for 21 October 2015 October 21, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com POUNDLAND Investec has initiated coverage of Poundland with a “hold” rating and a target price of 300p. The broker said near-term profit benefits from the integration of 99p Stores are expected to return Poundland to 20 per cent growth or more in 2017 [...]
Why Shoreditch is still so attractive for young firms – Investec Comment October 18, 2015 For a young business finding its feet, office space is a classic challenge. Alongside being a sizeable overhead, the question of how much space you take and how long you take it for is not easily resolved. Landlords will typically want to sign you up for as long as possible. But while your company is [...]
QIPCO British Champions Day at Ascot preview: Jack Hobbs to give Gosden yet another big win October 16, 2015 What a season it’s been for John Gosden. The master of Clarehaven has plundered big prizes almost on a weekly basis and the trainers’ championship is now in the bag. He’d love to end the campaign on a high and he has a massive chance of winning his first QIPCO Champion Stakes tomorrow (3.05pm). [...]
Cain Hoy and Sager secure loan for £400m luxury Islington scheme October 14, 2015 Cain Hoy, the US private equity firm that fleetingly considered buying Tottenham Hotspur last year, is pushing ahead with the £400m luxury development of a landmark Islington site after securing a £190m loan. Cain Hoy and its joint venture partner Sager Group are turning the Edwardian former Royal Mail sorting office on Upper Street into a residential, [...]
Bank of England’s newest MPC member Gertjan Vlieghe flags global risks to UK growth October 13, 2015 The Bank of England's (BoE) newest rate-setter has singled out headwinds from abroad as the biggest threat to the UK economy. Speaking to the Treasury Select Committee, Gertjan Vlieghe told MPs that the BoE's monetary policy committee – which sets interest rates – must factor in global economic developments. "We absolutely have to take into account [...]
FTSE retreats as aerospace and miners weigh – London Report October 13, 2015 Mining and aerospace stocks weighed on FTSE yesterday as the UK’s top share index fell after posting its biggest weekly gain since 2011 in the previous session. The benchmark FTSE 100 index was down 0.7 per cent at 6,371.18 points at its close, its first daily loss in nine sessions, having risen for the previous [...]