London & Stamford to invest £1bn May 26, 2011 BRITISH property investor London & Stamford yesterday said it saw investment opportunities in retail, logistics and London residential for its £1bn war chest, after reporting a rise in 2010 net asset value (NAV). The company, which moved from the London Stock Exchange’s junior AIM market to the main board last October, said its NAV per [...]
ALL CHANGE AT LLOYD’S AS IT RINGS 25 YEARS May 26, 2011 IT MAY seem like only yesterday for many City veterans, but today marks 25 years since the first managing agents moved into the landmark Lloyd’s building on Lime Street. So happy anniversary to the insurance giant, which still shows traces of more than 300 years of Lloyd’s history, such as the famous Lutine Bell, which [...]
Strong miners give FTSE a boost May 26, 2011 STRENGTH in heavyweight mining stocks helped Britain’s top share index edge higher yesterday, countering slippage by banks on Eurozone debt concerns. At the close, the FTSE 100 was up 10.9 points, or 0.2 per cent at 5,880.99, well below a morning spike above the psychologically important 5,900 level to 5,910.77. “The overall impression … is [...]
CITY MOVES | WHO’S SWITCHING JOBS May 25, 2011 Cable & Wireless The telecoms company has appointed Ian Gibson as chief financial officer and executive director, with effect from 21 July. Gibson joined the group in 1995 and has held a number of senior management positions, most recently deputy chief financial officer. In 2009 he was appointed as acting chief financial officer and played [...]
Banks bolster FTSE at the close May 25, 2011 London stocks struggled to gain ground today as poor economic data on both sides of the Atlantic dismayed investors. A rally led by banking stocks late in the afternoon helped push the FTSE back into the black, with the FTSE 100 just 0.2 per cent higher at 5,870.14 at the close. Miners made muted gains [...]
FTSE dips on eurozone fears and slipping commodities May 25, 2011 The FTSE 100 dipped today as jittery investors lost confidence in commodities and remained nervous over the eurozone debt crisis. With raw material prices dropping amid concerns over a slowdown in China, riskier assets were being shunned. Shares in commodities giant Glencore fell as much as three per cent on their Hong Kong trading debut [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 24, 2011 FINANCIAL TIMES POLL SHOWS MAJORITY OF INVESTORS USE VOTES Almost eight in 10 UK institutional investors exercise their voting rights in all the companies in which they own shares, according to a survey by the Investment Management Association. The finding, in a report setting out the extent of shareholder involvement in the early days of [...]
British Land upbeat as its rents climb May 23, 2011 BRITISH Land yesterday reported a profit rise but its shares were dented after some analysts went lukewarm on the stock. The company reported a 12.5 per cent rise in net asset value (NAV) to 567p and a 2.8 per cent increase in underlying profit to £256m. But its shares were hit as some brokers downgraded [...]
Stelios rants as Michels exits easyJet May 23, 2011 SIR DAVID Michels, the former Hilton chief executive who once hoped to chair Marks & Spencer, said he would step down from the board of easyJet yesterday in his second such announcement in a month. Michels, easyJet’s deputy chairman, will leave the airline at the end of this year, when he completes his second three-year [...]
CITY MOVES | WHO’S SWITCHING JOBS May 23, 2011 Agent Provocateur Retail veteran Chris Woodhouse has been appointed as non-executive chairman of luxury retailer Agent Provocateur. Woodhouse, director of Debenhams and chairman of restaurant group Gondola, which owns Pizza Express and ASK, will take a small stake in the lingerie business, which he will oversee alongside his existing role. Agent Provocateur, owned by private [...]