BEST OF THE BROKERS November 29, 2011 RANDGOLD RESOURCES Investec has upgraded the miner from “hold” to “buy” with a reduced target price of £73.32, down from £73.89. The broker has trimmed its forecasts after Randgold lowered its own outlook, but believes the recent share price fall presents a buying opportunity. Investec also thinks the recent problems at its mills are manageable [...]
BEST OF THE BROKERS November 27, 2011 CABLE AND WIRELESS Investec rates the telecommunications firm “buy”, with a target of 53p, down from 59p. The broker says that despite a lack of interest from buyers after its poor first half results there is growing interest from other UK telecommunications companies. The company’s woes stem from poor management, the broker says, and the [...]
ECB sign £50m Investec deal November 24, 2011 THE COFFERS of the England and Wales Cricket board will be boosted to the tune of £50m over the course of the next 10 years after they agreed a record breaking sponsorship deal with Investec. The blue chip bank ended their 12-year association with the Rugby Football Union in June and have turned their attentions [...]
LORD MAYOR STEPS UP SECURITY FOR AMBASSADORS’ RECEPTIONS November 24, 2011 IT HAD to be the Queen. “No-one else has that level of police presence,” said one City observer when he noted a convoy of four police motorbikes and two impressive cars making its way towards the Walbrook Building in stately fashion. But no – it was Lord Mayor David Wootton, who had stepped up his [...]
ANALYST VIEWS: ARE THESE FIGURES GOOD NEWS FOR DIXONS? November 24, 2011 DAVID JEARY | INVESTEC The renewal and transformation plan has clearly been transformational for Dixons, although the parlous state of the electricals market has not allowed this to shine through strongly. We retain some concerns on the short-term trading outlook and the relative dearth of must-have products at present. PHILIP DORGAN | PANMURE GORDON Given [...]
Banks and miners stem tide of FTSE losses November 24, 2011 The FTSE 100 was solid this morning as banks and miners stabilized the index which has taken a battering from the confidence sapping Eurozone crisis. Germany – seen as the kingpin in the bloc – yesterday sold just €3.6bn (£3bn) worth of 10-year bonds, from €6bn euros on offer. That sent shockwaves through markets which [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2011 Coutts Coutts, the wealth division of Royal Bank of Scotland Group, has appointed Amir Sadr as head of the UAE market and private office in the Middle East, based in Dubai. In his new role, Sadr will develop Coutts’ ultra high net worth proposition in the Middle East, reporting to Alex Classen, chief executive of [...]
BEST OF THE BROKERS November 22, 2011 MITIE UBS rates the outsourcing group “buy” with a target price of 290p, up from 280p following better than expected results. The broker is impressed by the firm’s confident outlook, noting its significant order wins that have driven its order book, and thinks Mitie will benefit from cost saving drives in both the public and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 21, 2011 FINANCIAL TIMES REVIEW LOOKS TO TACKLE THE COST OF WORKPLACE ILLNESS Action to curb the financial and social costs of long term illness and make it easier for employers to get staff back to work was recommended yesterday, in a government-commissioned review of sickness absence which also urged ministers to review the generosity of public-sector [...]
Phoenix coy over many approaches for assets November 21, 2011 SHARES in life insurance specialist Phoenix Life jumped more than ten per cent in morning trading yesterday after it admitted it had broken off takeover talks with one bidder but had been approached by at least one other. FTSE 250-listed Phoenix is considering an early stage approach from private equity group CVC Capital Partners, after [...]