FTSE slumps as miners plumb China depths – London Report September 29, 2015 BRITAIN’S leading share index fell yesterday as fears grew over mining group Glencore’s ability to withstand a metals price slump and as Vodafone’s European tie-up talks with Liberty Global ended. The FTSE 100 index was down 2.5 per cent, at 5,958.86 points at its close, a touch lower than European indexes. The UK market is [...]
Glencore share price history: A timeline of what went wrong from record drops to credit rating outlook fears September 28, 2015 The commodity price rout and concerns over a slowdown in the Chinese economy have helped send Glencore shares around 70 per cent lower this year – making it the worst performer on Britain's FTSE 100. And shares in the embattled commodities miner and trader continued their downwards trajectory today, after a particularly bearish note from [...]
Glencore share price crashes as analysts warns on metal prices September 28, 2015 Glencore shares tumbled today after a particularly bearish note from analysts. Broker Investec questioned how much the company would be worth if metal prices fail to improve, while pointing to its high debt levels and a need for restructuring. The note sent shares in embattled commodities trader and miner shed as much as 31 per cent [...]
Glencore share price ends sharply lower in race against time amid global commodities price rout September 28, 2015 After more than £2bn was wiped off Glencore today the company faces a race against time "As fears grew about the company's ability to withstand the prolonged rout in global metal prices." Shares in Glencore ended the day at a new record low, down 29.4 per cent to 68.62p per share in London. Other miners [...]
Avoiding pitfalls in a management buy-out – Investec Comment September 27, 2015 A management buy-out, when a management team buys a company from its existing shareholders, should be a win-win situation. The management team, alongside its private equity backer, gets to acquire the business they have worked hard to build. For the selling shareholder, the business’ management team is in theory the most educated buyer they could [...]
UK house prices: The bespoke mortgage challenge for entrepreneurs when buying a house – Investec Comment September 20, 2015 Buying a house can be tricky at the best of times, but if you own your own business, are self-employed, or work in private equity, the process can be more difficult still. Why? The first stumbling block is income. Some lenders' application processes may be fairly black and white: you either meet the criteria [...]
Glencore share price: Debt-struck resuorces giant calms investors with £1.6bn cash call September 16, 2015 Glencore’s share price closed 5.2 per cent higher yesterday, after a £1.6bn share placing reassured investors that the debt-struck resources giant could turn around its fortunes. The FTSE 100 commodities trader and miner rallied to 134.7p per share, having plummeted to an all-time low of 118.10p on Tuesday, due to market jitters about Glencore’s unwieldy [...]
City Moves for 17 September 2015 | Who’s switching jobs September 16, 2015 STANHOPE CAPITAL The investment office has appointed Bernard Kalfon as partner to develop its private and institutional client base outside the UK. He has over 20 years’ experience and has held roles at Société Générale Asset Management, Salomon Brothers-Citibank, and Bear Sterns. In 2009, he co-founded Nexar Capital Group. INVESTEC PRIVATE OFFICE Rafe Garvin has [...]
Best of the Brokers for 16 September 2015 September 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HOME RETAIL GROUP Haitong Investment Bank has reduced its “fair value” target by 18 per cent to 115p to reflect greater uncertainty over longer term success of Home Retail Group’s modernisation plans for Argos. The broker said that promotional spend in the run-up [...]
Glencore share price rises with $2.5bn placing, climbing back from record low September 16, 2015 Shares in Glencore opened up by as much as four per cent on Wednesday morning, pleasing investors with a new share placing. The debt-stricken company is seeking to reverse its fortunes with the emergency share placing, which raised the $2.5bn (£1.63bn) it had promised investors. The commodities trader and mining company saw its shares plummet [...]