Analyst Views: What did you make of Rio Tinto’s cost-saving announcement? November 28, 2013 HUNTER HILLCOAT INVESTEC “We already knew about their production target but it will be interesting to see the pace at which they can bring the extra production on board. They’re making a decision on greenfield production at a later stage so they may not end up building new mines if the iron ore price collapses. [...]
It’s open season on banks again November 26, 2013 BANKERS faced a series of fresh attacks yesterday, as Labour pushed for tougher licences for bankers and the chancellor opened the door to harsher lending controls. Labour won a vote in the House of Lords last night to force bankers to face regular checkups from regulators, and risk losing their licence if they do not [...]
Mid cap stocks gain favour as UK economic optimism rises November 26, 2013 But don’t write off the more international FTSE 100 blue chips THE UK recovery has finally taken hold. But not only is growth returning, many are now more optimistic about our economic prospects compared to other advanced nations. Last week, the OECD revised down its 2013 global growth forecasts to 2.7 per cent from 3.1 [...]
Weak rand and legacy book hit Investec shares November 21, 2013 DUAL-LISTED investment firm Investec yesterday said its struggling legacy business lowered six-month operating profits, and added the book could take another five years to run off. The Gresham Street based company, which is listed in London and South Africa, said operating profits fell 2.3 per cent in the six months ending September, dragged down by [...]
City Movember efforts – just 10 days to grow November 20, 2013 WELL DONE to all the brave Movemberers who’ve battled through those awkward early days of growing a moustache (“do you think he’s doing Movember?” “Is that just a shadow?”) and made it into the third week of sporting career-limiting upper lip fuzz. To celebrate the fact that there’s just 10 days to go – and [...]
Bonmarché rises on AIM debut November 20, 2013 OVER-FIFTIES clothing chain Bonmarché kicked off its first day of trading yesterday on London’s junior market after an initial public offering that raised £40m. Shares closed up at 220.5p last night, above the original offer price set last week of 200p a share and valuing the retailer at £110m. Some analysts have criticised the company [...]
Costain picks Liberum as its new joint broker November 18, 2013 ENGINEERING group Costain has hired Liberum Capital as its joint corporate broker alongside Investec, in the latest client win for Simon Stillwell’s investment bank. FTSE All Share-listed Costain, which tried to merge with May Gurney this year but was blocked by a higher bid from Kier, named Liberum’s Steve Pearce as its new joint broker [...]
ITE in Chinese partnership November 18, 2013 EXHIBITIONS group ITE has announced a new £33m venture in partnership with Hong Kong-based Worldcoat Exhibitions as the company pushes into China. The new partnership, Sinostar ITE, acquired the rights for Worldcoat’s SF China exhibition, showcasing the paint and coatings industries. The partnership is currently a 50/50 investment with Worldcoat as part of ITE’s push [...]
London Report: New borrowing figures likely a boost for Britain November 17, 2013 CHANCELLOR George Osborne is likely to get a boost this week with October public borrowing figures predicted to show the economic recovery gaining strength. Corporation payments and profits from the Royal Mail share sale have helped boost the government coffers and the final set of figures before Osborne’s Autumn Statement are expected to be strong. [...]
Startup springboks who let the idea come to them November 17, 2013 Annabel Palmer meets Leon Blitz and Brad Fried, lifelong pals behind investment firm Grovepoint MOST entrepreneurs start with an idea – be it reinventing the wheel or simply finding a way to do something better than anyone else out there. The hard part is then taking the first steps – shunning job security for months [...]