Analyst Views: What do you make of AG Barr’s half year financial results? September 23, 2013 WAYNE BROWN CANACCORD GENUITYA combination of returns on capital well in excess of the company cost of capital and strong growth in the invested capital base have created significant levels of shareholder value. With positive forecast momentum and the group yet to see the benefits of Milton Keynes, we increase our target price to 630p [...]
The German election and potential market reactions September 23, 2013 With Angela Merkel in the midst of forming a coalition, it looks like most Germans will get a preferable result, as opinion polls show most are in favour of a grand coalition. Whilst Merkel's CDU/CSU 41.5 per cent win will likely see her remain chancellor and vindicates her policy stances so far, the victory [...]
Stockbrokers get socked at Boodles Boxing Ball September 22, 2013 TO MAYFAIR on Saturday evening for the biennial Boodles Boxing Ball, this year held at the Grosvenor House hotel. There were several City-based amateur boxers doing the rounds in the ring and helping raise £200,000 for children’s charity Starlight. Sir Richard Branson’s son-in-law, shipbroker Fred Andrewes, took down Investec’s Adam Bidwell while Balthazar Fabricius, founder [...]
Summer heatwave drives sales up at Booker September 19, 2013 THE UK’s hottest summer in seven years helped to drive up sales at Booker Group over the past quarter. The UK’s largest cash and carry wholesaler yesterday said like-for-like sales were up 3.5 per cent in the 12 weeks to 13 September. Including sales from Makro, which Booker bought last year, sales surged 19.3 per [...]
Analyst Views: Were Smiths’ full-year results in line with your expectations? September 18, 2013 SCOTT CAGEHIN | NUMIS“The statement was in line with expectations. Smiths has the operational scope to enhance margins, while strong cash generation should support development and acquisition opportunities. However, the firm’s exposure to government spend is not the best place to be at the moment. MICHAEL BLOGG | INVESTEC“The results are fractionally better than we [...]
Sirius unveils York reserve estimate September 18, 2013 British potash miner Sirius Minerals yesterday confirmed a reserve of 250m tonnes from just a one per cent area of its York Potash Project, which will provide mine life for over 50 years. The news follows an announcement earlier this week that Aim-listed Sirius will not submit its planning documents for the project until July [...]
Investec trips up after South African currency slides lower September 17, 2013 FINANCE outfit Investec yesterday delivered a disappointing performance update after a weak currency and hesitant customers undercut expected earnings. The company, which is dual-listed in South Africa and the UK, said half-year profits measured by earnings per share could fall by up to 10 per cent thanks to a slide in the rand and sterling [...]
Bellzone surges on Guinea study September 17, 2013 Aim-listed Bellzone Mining yesterday reported the results of a feasibility study for a project in Guinea, which forecast full production of seven million tonnes per year for the first ten years, at a cost of $34.40 (£21.60) per tonne. “This looks like a very positive outcome for the company, pointing towards a meaningful sized operation,” [...]
London Report: FTSE drops from six week highs on Lloyds sale September 17, 2013 THE UK’S top share index fell off one and a half month highs yesterday, with Lloyds bank among the worst stocks, while traders held off adding to positions in fear of the US Federal Reserve reducing stimulus measures. The blue-chip FTSE 100 index closed down by 0.8 per cent, or 52.69 points, at 6,570.17 points [...]
City Moves for 17 September 2013 | Who’s switching jobs September 16, 2013 Savills The property company has appointed Oliver Fraser-Looen as a director in its European cross-border investment division. Fraser-Looen was most recently at Cushman & Wakefield, where he worked in its European cross-border retail investment team. Investec Wealth & Investment John Wyn-Evans has joined the wealth management business as head of investment strategy. Wyn-Evans was formerly [...]