London house prices edged closer to £500,000 in November January 17, 2017 The average house price in the capital edged closer to the half a million pound mark in November, rising to £482,000 for the first time. Figures published this morning by the Office for National Statistics (ONS) showed house prices in the capital jumped 8.1 per cent in the year to November, rising 1.9 per cent [...]
Standard Chartered: Analysts say the bank is a wise place to invest in light of Brexit and Trump January 17, 2017 Shares in Standard Chartered leapt over six per cent this morning after market upgrades and traders saw the stock as a good hedge against the tumbling pound. Bank of America Merrill Lynch (BoAML) raised its expectations of StanChart's profit before tax by 18 per cent and raised its target price for the stock to 900p from 735p. [...]
City Moves for 17 January 2017 | Who’s switching jobs January 17, 2017 Eversheds Frank Thompson has joined Eversheds' London insurance team. Frank has over 15 years of legal experience focusing on insurance coverage disputes and non-contentious coverage advice and has been ranked as a leading individual by Chambers and Partners for several years. Frank joins the firm as a lateral hire from K&L Gates where he earned recognition [...]
Brexit vote boosts Hugo Boss January 16, 2017 Hugo Boss has staged a partial recovery thanks to a sales boost in Britain and China. The German fashion house said its operating profit for 2016 will fall less than expected due to a 20 per cent increase in like-for-like sales in China in the fourth quarter, and a two per cent increase in Europe, which was [...]
Better Capital boss Jon Moulton on Brexit, his firm’s exit and why he still hasn’t forgiven Liam Fox January 16, 2017 Bald, bold and bespectacled, private equity veteran Jon Moulton has had more than his fair share of knocks as well as high points during a long career. He was branded the Christmas Scrooge in December 2014 when City Link collapsed into administration leaving nearly 2,700 jobs at risk. “We made a very bad decision to [...]
London’s Burlington Arcade is for sale January 15, 2017 London's iconic covered shopping gallery the Burlington Arcade has gone on sale. The arcade, which was established in 1819, links Piccadilly and Bond Street and is home of high-end brands such as Manolo Blahnik and Chanel. Industry sources said it would sell for around £400m. Read more: Central London take ups surge on the back of [...]
Volatile sterling can’t stop FTSE set for second week of records January 13, 2017 The FTSE 100 looked set to round out a second week of record gains at lunchtime on Friday, as sterling performance wobbled in volatile trading. Sterling rose as high as $1.2233, but cable has since retreated to trade almost flat at the time of publication. Performance against the euro has fallen more steeply, with losses [...]
Why banks could actually prove a less stressful part of your portfolio January 13, 2017 Market consensus tells us the banking sector remains a risky place for investors to put their money. After all, the prevailing wisdom runs, banks are cyclical, poorly capitalised and in lousy shape for the next downturn, as and when it comes. Of course, as contrarian investors, we believe market consensus and prevailing wisdom primarily [...]
Countrywide says slowdown in sales volumes will continue next year January 13, 2017 Countrywide's share price climbed three per cent in morning trading despite a drop in the estate agency group's income in the fourth quarter. The figures In a trading update for its performance in 2016, Countrywide said its revenue edged up to £737m from £734m the year before, but that the estate agency's income fell slightly in the [...]
Why banks could actually prove a less stressful part of your portfolio January 13, 2017 Market consensus tells us the banking sector remains a risky place for investors to put their money. After all, the prevailing wisdom runs, banks are cyclical, poorly capitalised and in lousy shape for the next downturn, as and when it comes. Of course, as contrarian investors, we believe market consensus and prevailing wisdom primarily exist [...]