Forgotten Voice to break Stoute’s stranglehold on Hardwicke Stakes June 19, 2014 SIR MICHAEL Stoute saddles both Telescope and Hillstar in a bid to extend his own record of seven wins in the Hardwicke Stakes (3.45pm) tomorrow. Ryan Moore, who has partnered two of the last four winners, has opted to ride one-time Investec Derby favourite Telescope in the 12 furlong contest and the son of Galileo [...]
Bank of England paves way for interest rates hike June 18, 2014 Senior Bank of England officials lined up yesterday to suggest that a rise in interest rates would come sooner than markets expected. Fast economic growth and sharp drops in unemployment have boosted the chances of a hike in the coming months, despite moderate inflation. The Bank’s monetary policy committee (MPC) described the low odds many [...]
Inside Track: Centrica’s Conn job on stock award June 18, 2014 TALK of energy suppliers and con tricks, and the assumption might be that the Big Six have been indulging in a reputation-shredding episode of doorstep mis-selling. In the boardroom of Centrica, owner of British Gas, though, the phrase is acquiring a different meaning. Directors have been preoccupied for weeks with prising Iain Conn, the long-serving [...]
Cannock Chase looks a typical Stoute prospect in Tercentenary June 18, 2014 SIR MICHAEL Stoute has a powerful army of progressive horses this year and I think he has an excellent chance of landing this afternoon’s Group Three Tercentenary Stakes (3.05pm) with CANNOCK CHASE. Now, those of you who just like to follow ratings won’t agree with me, as Cannock Chase has a handicap mark of 97 [...]
FDM is valued at £300m June 17, 2014 FDM, an IT support services group, yesterday completed a flotation that valued the company at a touch over £300m. The deal, which was advised on solely by Investec, sees the private equity group Inflexion selling its entire shareholding to raise £234.7m. Rowena Murray, who was part of the Investec team on the deal, said the [...]
Analyst Views: Is it time to toast Majestic wine after its full year results? June 16, 2014 KATE CALVERT | INVESTEC Full-year 2014 profit came in £100,000 better than we expected, after a warning in March following weak January and February sales. We believe the longer term growth prospects remain intact with the current valuation supported by an attractive dividend and strong cashflow. NEIL SAUNDERS | CONLUMINO The plans to invest in [...]
Best of the Brokers for 17 June 2014 June 16, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com RIO TINTO Investec has cut the mining group to “hold” from “buy”, and lowered the target price to 3,128p from 3,624p. The broker believes that iron ore’s price slump means that even with some near term recovery, Rio Tinto’s earnings have already been [...]
Petra share price to sparkle as 122.52 carat blue diamond set to be world’s most expensive June 13, 2014 Petra Diamonds has recovered an exceptional 122.52 carat blue diamond its Cullinan site in South Africa. That same mine has produced the largest rough gem diamond ever, the 3,106 carat Cullinan diamond. Martin Potts, an analyst at FinnCap, says that this stone may break the record price paid for a rough diamond. The current record [...]
City Moves for 13 June 2014 | Who’s switching jobs June 12, 2014 Investec Asset Finance Jane Mantell has been appointed head of portfolio risk at the asset finance provider. She joins from Insight Plus, the consultancy, where she has worked since 2007. Mantell previously spent nine years with Foxreed Consulting. UBS Michael Hafner has been appointed head of oil and gas, Europe, Middle East and Africa (EMEA) [...]
RBS share price “going down, going down, going down” says analyst June 12, 2014 Despite a 16 per cent rise in the share price of state-backed bank RBS over the past six weeks, one analyst is less than confident that the performance will be sustained. Investec's Ian Gordon writes that "the share price (once again) reflects a triumph of hope over reality and should duly correct". Investec has downgraded [...]