BEST OF THE BROKERS June 23, 2009 AVIVACitigroup analysts said they no longer view Aviva as vulnerable from a capital perspective, after its hybrid debt issue and the disposal of Aviva Australia. Based on its standard return on embedded value approach, the broker upped its target price to 350p from 210p and raised its recommendation to “hold, high risk”. STANDARD CHARTEREDAhead of [...]
GLAMOUR GALORE AT ASCOT’S LADIES DAY June 18, 2009 IT WAS Ladies’ Day yesterday at Royal Ascot, traditionally the most hotly-anticipated event in the calendar for dressing up to the nines. As usual, the racegoers didn’t let us down – among the extravagant hats on show were a blackbird, a giant ice-cream cone, a creation made out of 800 marshmallows, and even a headdress [...]
Stoute’s Leocorno looks the banker on Ladies Day June 17, 2009 Sir Michael Stoute opted to bypass the Investec Oaks with LEOCORNO and she showed at Sandown last time that she is a filly right out of the top drawer. It may have only been a 0-80 handicap she won that day, but the daughter of Pivotal quickened away in the style of a very useful [...]
Scramble for talent among smaller firms June 14, 2009 SMALLER City financial firms are frantically headhunting top-tier staff who have become casualties of cost-saving job cuts at giants like Credit Suisse, HSBC and Dresdner Kleinwort. Firms such as Arbuthnot Securities, Blue Oar and Panmure Gordon are scrambling to emerge from the recession with higher profiles by grabbing seasoned talent on lower salaries than ever, [...]
1,000 CITY MENU TO STAGE A COMEBACK June 7, 2009 LAST year, one of the City’s favourite restaurants, Vivat Bacchus, made headlines all around the globe for introducing a £1,000 tasting menu despite the onset of the credit crunch, as a treat for hard-working financiers celebrating their (albeit reduced) bonuses. The menu – which included royal sevruga caviar, lobster linguini flavoured with 40-year-old Armagnac, grilled [...]
BEST OF THE BROKERS June 7, 2009 CARPHONE WAREHOUSEInvestec said that Carphone Warehouse’s full year 2009 results were in line, once adjusted to take a new accounting standard into consideration, but are relatively lacklustre as revenues declined 2.7 per cent year-on-year. The demerger deadline has been pushed back to July 2010. The broker reiterates “sell” with a 140p target price. BELLWAYBellway’s interim [...]
Sea The Stars set to shine brighter than O’Brien six June 4, 2009 DERBY DAY is always one of the highlights of the British sporting calendar and thousands will make the pilgrimage to Epsom Downs tomorrow to watch the biggest flat race of them all. Arthur Budgett, a legend in the world of racing, will be one of those 100,000 spectators as he is guest of honour at [...]
The INSIDER June 4, 2009 There has been plenty written this week about the Ballydoyle Six and the main focus has been on whether Johnny Murtagh has picked the right one in Rip Van Winkle. I’m of the opinion that Johnny is right. So what does that mean? It means that SEA THE STARS will win the Investec Derby on [...]
Sariska to prove she is Epsom’s First Lady June 4, 2009 THE OPENING day of the Investec Derby Festival at Epsom Downs racecourse is Ladies Day. The most fashionable and stylish lady on the course will win a new car if she wins the ‘Style on the Downs’ competition after lunch, while at around 4.09pm, an equine lady will be crowned winner of the 2009 Investec [...]
BEST OF THE BROKERS June 2, 2009 LADBROKESBarclays Capital is not convinced that Ladbroke’s overseas investment will give a particularly high return compared to peer William Hill’s online expansion. However, the broker believes the group is well-run and cash generative, with a high dividend yield. It initiated coverage of the stock with an “equal weight” rating. KCOM GROUPKCOM’s results show strong cost [...]