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 [...]
London Report: Home lending up but rise in UK prices is slowing July 27, 2014 MORTGAGE approvals figures appear likely to show the housing market is moving again, after tough new MMR loan tests slowed lending figures. However, house price data due on Thursday suggests prices may not be soaring as much as earlier this year. They are expected to have risen 0.5 per cent month-on-month in July – the [...]
It’s official: UK GDP finally back above pre-crisis levels July 25, 2014 Preliminary data has confirmed what almost everyone expected: UK output is finally back above its pre-crisis levels. A consensus poll of analysts expected to see that GDP had risen by 0.8 per cent in the second quarter of 2014. Today's preliminary estimate, from the Office for National Statistics (ONS), sees the UK economy growing at [...]
Analyst Views: What did you make of Reed Elsevier’s interim financial results? July 24, 2014 IAN WHITTAKER | LIBERUM The market will like Reed saying it expects organic revenue growth to accelerate over time, given improvements in the quality of the business, and the potential to increase level of cash return, and given that Reed wants to maintain the leverage level it has seen over the past several years. GARETH [...]
Best of the Brokers for 24 July 2014 July 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com B&M RETAIL Jefferies has initiated with a “buy” rating, with the target price at 350p. The broker believes the retailer has an excellent track record, with clear scope to grow stores, particularly in the south of England, and thinks that B&M is likely [...]
Analyst Views: What did you make of ARM holdings’ second quarter results? July 22, 2014 JULIAN YATES | INVESTEC The stock has been weak, but with a) no structural issues here (we see cyclical issues causing the royalty weakness), b) royalty growth is likely to pick up, plus c) licence strength suggesting strong medium-term royalties, we see current weakness as a buying opportunity. ADNAAN AHMAD | BERENBERG Our Buy thesis [...]
Peer lending and crowdfunding an “increasing source of finance” for UK firms July 18, 2014 Peer lending and crowdfunding are becoming an "increasing source of finance" for firms, as non-bank alternatives are giving a growing number of UK firms a helping hand, according to the Bank of England. In its quarterly report on trends in lending, the central bank reports that credit conditions for businesses are improving, with net lending [...]
City Moves for 15 July 2014 | Who’s switching jobs July 14, 2014 Quindell David Currie has been appointed non-executive director at the software, consultancy and technology-enabled outsourcing provider. He recently established Codex Capital Partners, and is a former head of Investec Bank’s investment banking division. PwC Mark Pugh has been appointed asset management leader in the UK at the professional services firm. He has been an assurance [...]