ANALYST VIEWS: HAS SPORTS DIRECT TURNED THE CORNER? December 16, 2010 KATHARINE WYNNE| INVESTEC We place our forecasts and our price target under review, but continue to view a valuation which is more expensive than both Next [hold] and Debenhams [buy] on a lease adjusted basis as unjustified given the continuing concerns over corporate governance and the unresolved future financing arrangements. JONATHAN PRITCHARD| ORIEL SECURITIES The [...]
UK unemployment in unexpected rise December 15, 2010 Unemployment in the UK increased by 35,000 in the three months to October to 2.5m, according to official figures. It is the first time that the jobless measure has risen for six months. The increase pushed the unemployment rate up to 7.9 per cent, the figures from the Office for National Statistics showed. However, the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 14, 2010 FINANCIAL TIMES INVESTOR IRE OVER SIG CHIEF’S PAY Investec Asset Management has hit out at the board of SIG for ignoring investor outcry about the amount its chief executive is being paid. Investec, which owns 3.3 per cent of the Sheffield-based insulation and plasterboard maker, has written a letter to SIG to protest against a [...]
Bookies’ favourite loses maiden race December 14, 2010 HORSERACING clichés at the ready: thoroughbred betting exchange Betfair has fallen at the first hurdle; the bookies’ favourite has failed to win its maiden race, after the jockey dropped his whip in the final furlong. Turning to another mammal, it’s hard to be anything but bearish on Betfair’s first half results. Core revenue might have [...]
JPMorgan tops brokers poll December 13, 2010 JPMORGAN Cazenove has proved its worth as a broker, banker and adviser over the past five years, new analysis showed yesterday. The bank has stayed in pole position from its 2005 ranking to lead the November 2010 table of stockbrokers and advisers, as well as stockbroking rankings for FTSE100, FTSE250 and small cap clients produced [...]
Fall in mining shares takes its toll as FTSE 100 closes lower December 8, 2010 WEAKNESS in heavyweight miners dragged the leading share index lower yesterday, although firmer banks, energy issues and some takeover speculation helped limit the falls. At the close, the FTSE 100 was down 13.92 points or 0.2 per cent at 5,794.53, having hit a three-week high on Tuesday. “It has been a choppy trading session today [...]
MPC poised to hold rates at 0.5 per cent December 8, 2010 INTEREST rates are expected to stay at 0.5 per cent today, after the Bank of England’s rate setting committee meet for the final time this year. A split has emerged in the Monetary Policy Committee (MPC) in recent months, with “hawk” Andrew Sentance pushing the case for a rate rise and “dove” Adam Posen arguing [...]
ANALYST VIEWS: WHAT NOW FOR DE LA RUE? December 6, 2010 PAUL JONES | PANMURE GORDON We believe this represents a fair level given our ongoing concerns regarding reputational damage. As we await further details, we switch our recommendation from ‘sell’ to ‘hold’. ADRIAN KEARSEY | EVOLUTION This will be the catalyst that switches investor attention away from the short term problems surrounding Paper-gate (and print [...]
Investec targets bonus earners with mortgages December 5, 2010 HIGH earning City workers can take advantage of falling house prices, after a custom made “million plus” mortgage service was launched today. Professionals will be able to borrow against their bonuses, as well as regular income, said Investec Specialist Private Bank, which is launching the scheme. The mortgages will only be offered to people borrowing [...]
ECONOMIST VIEWS: WHEN MIGHT THE MPC INCREASE RATES, IF AT ALL? December 5, 2010 PHILIP SHAW | INVESTEC BANK “I expect that we will begin to see rates go up in next year’s fourth quarter. It is likely that we will see evidence of a self-sustaining recovery, so the need for interest rates at very low emergency levels will fade. However, we are unlikely to be in for any [...]