Australia powerless to stop England sealing the series in Manchester July 31, 2013 WILLIAM CHRIMES PREVIEWS THE THIRD ASHES TEST AND BILL ESDAILE GIVES HIS BEST BETS FOR GLORIOUS GOODWOOD ENGLAND’S toughest test this Investec Ashes summer might just come from the weather as they look to secure a fourth series in five contests. A belligerent 347-run victory at Lord’s shows England are in no mood to let [...]
Analyst Views: What did you make of Hammerson’s half-year results ? July 29, 2013 JAMES CARSWELL | PEEL HUNT Value Retail is the reason Hammerson’s results show it is outperforming its retail property peers – the valuation was down slightly in the first half excluding Value Retail but when included its valuation is up. The rise in dividend is also worth noting as it shows management are quite confident [...]
Analyst Views | How are AG Barr and Britvic faring now that merger talks are off? July 25, 2013 NICOLA MALLARD INVESTECAs far as AG Barr is concerned we think it is a very sound company. They have plenty of scope to grow given their market share… For Britvic they are by and large already a national player. They look less attractive from a revenue perspective but they are working through the new strategy, [...]
Analyst views | How did IG Group’s full year results fare? July 23, 2013 ROBIN SAVAGECANACCORD GENUITYEven better than we had expected. Overall management signals an increase in costs but is confident in the prospects for 2014. Our valuation and investment recommendation remains under review. IG generates a high return on invested capital, the momentum is improving and value is attractive relative to other equities. JAMES HAMILTONNUMISOur forecasts remain [...]
Gemfields makes over £20m in revenues at auction in Lusaka July 22, 2013 AIM-LISTED miner Gemfields yesterday announced that it made $31.5m (£20.5m) at an auction of rough emerald and beryl stones, its second highest auction revenues to date. The firm said that the gems were sold at an average price of $54 per carat, a new auction record. All stones placed on offer were sold. “These results [...]
Best of the Brokers for 22 July 2013 July 21, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com CAPITA Shore Capital keeps its “sell” rating and 1,056p target on the outsourcer as it looks ahead to interim results this week. The broker thinks new contract flow will disappoint slightly, in spite of an expected 15 per cent rise in half-year revenues, [...]
BHP Billiton’s iron ore output beats forecasts July 17, 2013 FTSE 100-listed BHP Billiton yesterday said that production at two of its mines had beaten guidance this year and expansion of its iron ore division is running ahead of schedule. Yet despite petroleum output increasing by six per cent to 235.8m barrels of oil, it fell short of BHP’s 240m guidance. Total iron ore production [...]
Analyst Views | How did you take Smiths Group’s results? July 17, 2013 GLEN LIDDY, JP MORGANThe performance of [the detection] division is falling below expectations on the back of problems with three contracts entered into prior to 2010 and costs relating to provisions relating to legal disputes. We have reduced our 2013 earnings per share [forecast] to reflect the additional costs. CHRIS DYETT, INVESTECContract cost overruns are [...]
Any Other Business – 18/07 July 17, 2013 ■ Former England cricket captain Mike Gatting has been getting around the City charity sporting circuit lately. Not only did he complete annual Standard Chartered Great City race last week – and blindfolded too – he then hopped straight on his bike for five days of cycling – from Chester-le-Street to Lord’s cricket ground – [...]
England to triumph at Lord’s despite Australia’s record July 17, 2013 ROBIN HUTCHISON PREVIEWS THE SECOND INVESTEC ASHES TEST THE second Investec Ashes Test, which begins today, has a lot to live up to if it is to match the drama we witnessed at Trent Bridge last week. England prevailed – but by the narrowest of margins – after an enthralling five days, thanks largely to [...]