Merkozy fail to agree deal to save euro October 20, 2011 HOPES for a decisive breakthrough on a Eurozone rescue package at this Sunday’s summit collapsed as France and Germany failed to agree on the purpose of the European Financial Stability Fund (EFSF) yesterday. Officials said another summit might be held early next week to continue discussions on private sector involvement in a second Greek bailout, [...]
Fencing can win joust against Camelot October 20, 2011 TOMORROW’S Group One Racing Post Trophy (3.00pm) at Doncaster is one of the key trials for next year’s Investec Derby and the Ballydoyle dogs have been barking with force in relation to Camelot. The once-raced Montjeu colt started the week at 5/2, but is now 10/11 with Ladbrokes and it’s clear he is very well [...]
Canaccord on stand-by for Evolution bid October 18, 2011 CANACCORD Financial, the Canadian financial services group, was waiting on the sidelines yesterday as Investec’s £200m-plus all-share takeover of Evolution Group hit problems. Canaccord pulled out of the bidding last month, leaving Investec as preferred bidder. Under Takeover Panel rules Canaccord is barred from relaunching a takeover for six months but yesterday those close to [...]
BEST OF THE BROKERS October 18, 2011 LAMPRELL Investec said its target price of 393p is “under review” after the engineer firmed up an order to build two jackup oil rigs for Abu Dhabi’s National Drilling Company. Investec believes the deal will renew investor confidence in the stock. SARANTEL Merchant Securities rates the antennae manufacturer as “hold” maintaining its target price of [...]
ANALYSTS’ VIEWS: WILL SEPTEMBER’S INFLATION HIT 5PC? October 16, 2011 PHILIP SHAW | INVESTEC “September’s inflation will jump to 5.1 per cent, thanks mainly to sharp increase in gas and electricity prices. However, we are hopeful that inflation will fall back below five per cent next month and drop through three per cent in the first half of 2012.” KEN WATTRET | BNP PARIBAS “CPI [...]
ANALYST VIEWS: CAN BURBERRY MAINTAIN ITS SALES MOMENTUM? October 12, 2011 RICHARD HUNTER HARGREAVES LANSDOWN The company intends to continue its expansion plans, whilst remaining flexible in tapping on the brakes should circumstances dictate. Continuing investment in its business will of course weigh on profit in the medium term, whilst the company could become a victim of its own success given increasingly tough comparatives. Even so, [...]
BEST OF THE BROKERS October 11, 2011 VODAFONE Investec notes that the Indian authorities published a draft policy for telecoms this week. While lacking in some details, it believes there are many positives to be taken from the policy changes for Vodafone. It says India is an emerging positive catalyst for the Vodafone investment story. It reiterates its “buy” recommendation, maintaining a [...]
YouGov profit surges as its US unit grows October 10, 2011 YouGov saw its full year profits soar as key acquisitions hit the ground running. The online market research company saw its adjusted pre-tax profit rise 43 per cent to £5.8m, boosted by a strong performance in the US, which now represents its largest market. Revenue there rose 230 per cent after the integration of Harrison [...]
CITY STAR FORCES UP MAGNIER’S NEXT BID October 5, 2011 HE MAY yet succeed in snapping up Mitchells & Butlers on the cheap, but there were no bargains for racing tycoon John Magnier at the Tattersalls bloodstock auction in Newmarket yesterday. Forcing Magnier’s hand on Lot 35 was Lawrie Inman, the 30-year-old superstar futures trader, whose bid of 500,000 guineas pushed the Irish billionaire into [...]
Flybe plunges after it warns on its profits October 5, 2011 REGIONAL airline group Flybe yesterday saw its shares plummet by 36 per cent after it slashed guidance for its 2012 profits, due to a slowdown in demand on domestic flights. In its second profit warning this year, Flybe said revenues in the six months to October were one per cent behind management’s expectations while costs [...]