Rollercoaster for Arm as its royalties wane October 22, 2013 THE UK’S MOST valuable listed technology firm, Arm Holdings, had a mixed day of trading yesterday after its third quarter beat expectations. The chip maker initially plummeted six per cent to 970p a share in the morning before recovering to close at 1,004p, down 3.4 per cent. Its results were largely positive with a 36 [...]
How to spot the pension fund dogs October 22, 2013 A new report finds that £31bn is sat in poor performing funds WITH annual and lifetime allowances for attracting tax relief at £50,000 and £1.5m respectively (due to fall to £40,000 and £1.25m in 2014-2015), pensions are the most tax-efficient way to save for retirement. But with over £30bn of pension savings languishing in under-achieving [...]
Analyst Views: What do you make of Informa’s nine month trading update? October 21, 2013 PATRICK YAU PEEL HUNT The third quarter looks good, although timing has helped. Guidance for the full year is unchanged. Looking to 2014, the main issue for forecasts seems to be currency rather than trading assumptions, with the dollar especially a key factor. We put our recommendation and target price under review. NICK DEMPSEY BARCLAYS [...]
Analyst Views: Has Diageo’s trading update altered your outlook for the group? October 17, 2013 MARTIN DEBOO INVESTEC “We read the first quarter as a miss… emerging market growth is decelerating – fast – driven by a mix of weak demand and destocking. We re-state our sell case, believing that the valuation needs to adjust to reflect growing pressures in the emerging markets, which are heading for 50 per cent [...]
Strong sales growth at Ferrexpo October 17, 2013 Iron ore miner Ferrexpo yesterday said that sales for the first nine months of the year had hit 7.6m tonnes, an increase of nine per cent on the previous year. The FTSE 250 firm is looking to develop a new concentrator and has approved an additional $40m (£24.8m) capex for infrastructure. “The company’s costs look [...]
City Moves for 18 October 2013 | Who’s switching jobs October 17, 2013 EdisonThe investment intelligence firm has announced the hire of Angus McPhail as an equities analyst in its oil and gas team. He specialises in mid-cap exploration companies. McPhail has previously worked as an analyst at Investec, Alliance Trust, ING, and WH Ireland. BNY Mellon Asset ManagementThe investment management company has appointed Heneg Parthenay as chief operating officer [...]
City Moves for 17 October 2013 | Who’s switching jobs October 16, 2013 Colliers International The property company has announced the appointment of Michael Hawkins as a partner in its national offices team. He was most recently at WHR Property Consultants, where he was a partner advising property and development companies, funds, and investors. Prior to that, he spent ten years at Lambert Smith Hampton. Balderton The European venture [...]
Best of the Brokers for 15 October 2013 October 14, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com TRAVIS PERKINS Bank of America Merrill Lynch raised its target price from 1460p to 1900p and changed its rating from “underperform” to “buy” in a double upgrade that sent shares up nearly five per cent yesterday. The broker believes the builders’ merchant is [...]
Chocolatier Thorntons in festive mood as growth gathers pace October 9, 2013 THORNTONS yesterday said sales had got off to a strong start in the first quarter of the year as the confectioner’s turnaround strategy continued to gather pace. Revenues rose 2.1 per cent to £47m in the 14 weeks to 5 October, driven by sales to supermarkets and other third party retailers, which leapt 11 per [...]
Liberum wins another broking mandate after employee raid October 9, 2013 LIBERUM, the investment bank and research house, has won its second new broking client in the wake of its hiring of 14 people from Espirito Santo in July. Workspace, the office rental group focused on new and growing companies, said yesterday it had appointed Liberum as its broker alongside Investec, the South African bank. The [...]