Investec wins battle over £6m bonus claims August 6, 2014 TWO FORMER bankers at Investec yesterday had their demands for £6m in bonus payments thrown out by the high court. The pair claimed they had a verbal agreement with their boss which should have led to the payouts in the 2010-11 financial year. But judge George Leggatt said the claim, brought by Andrew Brogden and Robert [...]
Analyst Views: Can Standard Chartered turn around its weak position? August 6, 2014 SHAILESH RAIKUNDLIA | ESPIRITO SANTO Overall, we believe that with comparisons getting easier, the earnings revision momentum should turn positive from here. All divisions by product group were in line with our expectations – we continue to believe in the long-term growth dynamics of its emerging market footprint. JOSEPH DICKERSON | JEFFERIES Trends observed in [...]
African Minerals and London Mining share prices slump as Ebola outbreak fears rise August 5, 2014 Shares in some Sierra Leone-focused miners on the London Stock Exchange plunged yesterday, amid increasing fears over the spread of the largest Ebola outbreak in history. African Minerals saw the biggest decline, falling 18 per cent by market close, while London Mining slumped eight per cent. Neither company’s operations has been affected by the disease [...]
Antofagasta slides despite higher output July 30, 2014 ANTOFAGASTA’S share price slumped over four per cent yesterday, after the Chilean copper miner’s production update missed expectations. The FTSE 100-listed company said it was on track to meet its full-year guidance of 700,000 tonnes, after posting a 5.5 per cent increase in second-quarter copper output to 178,800 tonnes. This was not good enough for [...]
Airbus profits fly up 50 per cent as it looks to sell Dassault stake July 30, 2014 AIRBUS saw a lift off in its net income for the first half of 2014 as it rose 50 per cent to €1.14bn (£903m), with revenue up six per cent to €27.2bn, as the aircraft manufacturer said it was mulling options for the sale of its 46.3 per cent stake in Dassault Aviation. The stake [...]
City Moves for 31 July 2014 | Who’s switching jobs July 30, 2014 BJSS The IT consultancy has announced the appointment of Grant Thomas as head of practice. He joins from Barclaycard, where he was head of business change. Thomas has also previously held senior roles at IBM, PwC, and Accenture. Nikko Asset Management Stefanie Drews has been appointed global head of institutional marketing and proposition at the [...]
Best of the Brokers for 31 July 2014 July 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com HISCOX Numis has downgraded to “hold” from “Add”, and cut the target price to 710p from 785p. The broker believes good growth in high quality specialist lines validated the company’s strategy continually to build out this side of the business, but cut to [...]
Brass Ring value to spring a surprise in Goodwood Cup July 30, 2014 BILL ESDAILE PREVIEWS DAY THREE OF GLORIOUS GOODWOOD THE ARTEMIS Goodwood Cup (3.10pm), part of the QIPCO British Champion Series, has been a good race for punters in the last 10 years, with seven favourites obliging. The Queen’s horse Estimate is set to start as market leader this afternoon, but the 2013 Ascot Gold Cup [...]
Goodwood ready to crown new King in Sussex Stakes July 29, 2014 BILL ESDAILE PREVIEWS DAY TWO OF GLORIOUS GOODWOOD THERE have been some fantastic Duels on the Downs in the past few years, not least when Frankel demolished Canford Cliffs in 2011, and we are set for another classic today when KINGMAN takes on Toronado in the QIPCO Sussex Stakes (3.05pm). Kingman is short at 2/5 [...]
Best of the Brokers for 28 July 2014 July 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AG BARR Investec has kept its “add” rating, but upped the target price to 661p from 645p. Investec thinks AG Barr continues to outperform the UK soft drink market, forecasting that interim profits will grow in advance of the revenue line, and expects [...]