Amec-led consortium wins £590m deal for Azerbaijan gas field January 28, 2014 FTSE 100 listed Amec is the latest British company to become part of the multi-billion pound project to bring gas directly from Azerbaijan to Europe for the first time. A consortium led by the engineering giant has been awarded a $974m (£587.5m) contract by oil major BP, to help develop the Shah Deniz gas field [...]
Analyst Views: Should investors be worried by the slide in Easyjet shares? January 23, 2014 GERT ZONNEVELD | PANMURE GORDON The [statement] suggests trading has continued in line with expectations. Full year cost guidance is slightly better but it is too soon for any visibility on second half yields. Following a great share price performance, we upgrade our target to 1,800p but downgrade our recommendation from buy to hold. WYN [...]
Short window for StanChart bids as analysts expect share price rise January 21, 2014 STANDARD Chartered’s relatively low share price has opened a brief window for buyers to take over the lender, analysts said yesterday, pushing its shares up 2.2 per cent. Its relatively low price is one reason it could be a target – JP Morgan’s Raul Sinha believes its price is set to be 9.9 times its [...]
Analyst Views: What did you make of African Barrick Gold’s results? January 21, 2014 HUNTER HILLCOAT | INVESTEC African Barrick has perfected the art of under-promising and over-delivering and the fourth quarter delivered more of that. But it finished the year [with a far lower cash balance] and we cannot be overly encouraged by the company’s operational improvements until it becomes cash generative. ROB BROKE | WESTHOUSE SECURITIES The [...]
Investors aren’t shaken by this week’s three big platinum strikes. Here’s why January 21, 2014 Imminent strike action at South Africa’s three largest platinum producers has failed to set the precious metal price alight as much as some may have thought. The militant Association of Mineworkers and Construction Union (Amcu), the dominant union representing the three firms’ workers, has given notice that strikes will start on Thursday, with Amcu demanding [...]
Amara Mining output rises 86pc January 20, 2014 Amara Mining, the West Africa-focused gold miner, yesterday posted an 86 per cent rise in production in the fourth quarter compared to the previous quarter and said full-year production hit 42,348 ounces. The Aim-listed company set its 2014 production guidance at 60,000 to 70,000 ounces. “We note the update provides no cost guidance and suspect [...]
Analyst Views: What did you make of Moneysupermarket’s trading update? January 14, 2014 STEVE LIECHTI | INVESTEC SECURITIESNo particular recovery is suggested. If anything the messaging on Money feels slightly better given some account switching, but insurance growth still feels disappointing given SEO issues – Moneysupermarket still looks to be down in the rankings on our analysis. RODDY DAVIDSON | WESTHOUSE SECURITIESWe believe its current valuation remains undemanding [...]
Bank of England holds the line as employment tests guidance January 9, 2014 THE BANK of England made no changes to its forward guidance policy this month, holding UK interest rates at their current low for the opening month of 2014. The monetary policy committee (MPC) was widely expected to keep the Bank’s benchmark interest rate at 0.5 per cent, in line with their forward guidance policy, which aims [...]
Oriel Securities goes on a hiring spree after its Canadian tie-up January 9, 2014 ORIEL Securities, the independent stockbroker which agreed a financing deal with CIBC, Canada’s fifth largest bank, last September, yesterday announced five senior appointments to help take its business forward. The firm, which had been linked several times last year with a merger with Panmure Gordon, says the strengthening of its team also follows a bumper [...]
Shanta Gold output hits target January 9, 2014 East Africa-focused miner Shanta Gold yesterday said it had produced 64,054 ounces of gold in 2013, marginally above the guidance of 63,000 ounces. The amount of materials going through the processing plant has reached the target 1,275 tonnes per day, resulting in consistent gold output of around 6,500 ounces per month in the fourth quarter. [...]