Beer of the realm: Cobra founder Lord Bilimoria talks creativity, GM crops and cracking pubs August 31, 2014 If you haven’t enjoyed a Cobra beer yourself, you’ve probably had a curry with someone who has. Karan Bilimoria founded Cobra Beer in 1989. It’s a well-documented story by now: the entrepreneur and life peer saw the need for a beer that was less gassy than lager but not as heavy as ale. Cobra claims [...]
All is well at Spire Healthcare as shares rise on thriving revenues August 28, 2014 Spire Healthcare saw its shares jump up 7.7 per cent yesterday, as it reported a solid rise in revenues in the first half of the year, in its first results since floating last month. Revenue at Spire, which runs 39 private hospitals and 13 clinics in the UK, rose 10.5 per cent in the first [...]
Best of the Brokers for 29 August 2014 August 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com N BROWN GROUP Investec has kept a “buy” rating, but cut the target price to 520p from 550p. The broker thinks while there are a plethora of new initiatives, the benefits from the implementation of a more retail and marketing-led trading strategy are [...]
Best of the Brokers for 28 August 2014 August 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com JAMES FISHER Investec has maintained its “buy” rating, wile increasing the target price to 1,500p from 1,450p. The broker believes the company has continued to deliver strong results, with a good long-term strategy driving growth forward, highlighted by recent contract wins and select [...]
London Report: Petrofac buoys FTSE but poor store data weighs on market August 27, 2014 BRITAIN’S top equity index yesterday climbed to its highest closing level in nearly two months, with oil and gas services company Petrofac buoyed by positive broker comments. However, supermarkets J Sainsbury and Tesco underperformed after weak sales data. The FTSE 100 index ended up 0.1 per cent, or 7.90 points, at 6,830.66 points. Petrofac rose [...]
Borrowing blues adds to concern on fiscal targets August 21, 2014 Government borrowing fell during July, according to figures released yesterday, but questions about whether the government would meet its current fiscal targets still remained. Public borrowing fell to £0.8m in July this year, cut from £1.6bn in the same month last year, when one-off interventions were removed. However, in the first four months of the [...]
Best of the Brokers for 22 August 2014 August 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BOVIS HOMES UBS has kept its “buy” rating, raising the target price to 1,000p from 965p. The broker notes Bovis is gearing up for material volume growth, aiming to reach 5,000 to 6,000 units over the five years or so, almost double the [...]
Analyst Views: What do you make of Glencore’s results and major share buyback? August 20, 2014 MARC ELLIOT | INVESTEC With the key share buyback to return cash to shareholders, we note Glencore is the first of the diversifieds to make such a firm commitment. Operationally, marketing activities put in a solid performance, marginally ahead of expectations, as did industrial activities. CHRISTOPHER LAFEMINA | JEFFERIES Glencore reported slightly better-than-expected financial results [...]
City Moves for 21 August 2014 | Who’s switching jobs August 20, 2014 Investec Specialist Bank The bank has announced the appointment of Stefan Szczurowski to its fund finance team. He has worked in Investec’s corporate and acquisition team in Australia since 2009. Szczurowski won a bronze rowing medal at the Athens Olympics in 2004. Tavistock The corporate and financial communications consultancy has announced the appointment of Matt [...]
Best of the Brokers for 21 August 2014 August 20, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DEBENHAMS Cantor Fitzgerald has raised its rating to “hold” from “sell”, but cut the target price to 65p from 70p. The broker still has concerns on the balance sheet and need to invest in the store portfolio, but thinks it will benefit from [...]