Grey trading on the Facebook IPO price February 6, 2012 AS THE buzz continues about the Facebook public offering later this year, IG Markets is offering grey market trading on the social networking site’s market cap. The grey market allows shares to be traded on an unofficial market ahead of the IPO expected in May. When it filed with the Securities and Exchange Commission on [...]
Facebook surges in grey trade February 2, 2012 THE VALUE of Facebook hit $123bn in grey market trading yesterday, after the social networking phenomenon announced it would raise $5bn in a public offering later this year. Financial spread betting firm IG Group, which is running a grey market in Facebook, said the website had attracted an “unprecedented” level of demand. IG Index’s chief [...]
Strong earnings and Greek hopes cause FTSE to jump February 1, 2012 BULLISH company earnings reports and the prospect of Greece nearing a debt deal helped lift Britain’s FTSE 100 higher yesterday, while robust manufacturing data from China, the US and Europe boosted appetite for the mining sector. London’s blue chip index rose 109.11 points, or 1.9 per cent to 5,790.72. The index closed below 5,800, where [...]
Ocado cuts its losses by 80 per cent and says its warehouse problems are solved January 31, 2012 OCADO said warehousing problems that prompted it to issue a profit warning last month were largely solved as the online grocer posted a pre-tax loss of £2.4m for the year to the end of November 2011. In its second set of preliminary results since its flotation in 2010, Ocado said it had cut its losses [...]
Ocado cuts losses to £2.4m January 31, 2012 OCADO said warehousing problems that prompted it to issue a profit warning last month were largely solved as the online grocer posted a pre-tax loss of £2.4m for the year to the end of November 2011. In its second set of preliminary results since its flotation in 2010, Ocado said it had cut its losses [...]
FTSE rises as Greece closes in on deal January 31, 2012 The FTSE 100 rose in early trading on hopes Greece was nearing a debt swap deal required to salvage the nation’s finances while European leaders agreed on stricter budget discipline measures to help prevent further debt disasters in the region. Greek Prime Minister Lucas Papademos said negotiators had made “significant progress” in talks to strike [...]
Ocado sales growth picks up January 31, 2012 Online grocer Ocado posted a 27 per cent rise in underlying earnings, forecast first-quarter sales growth of about 10 per cent and said the rate of growth should improve as the year progresses and capacity improves. The group said Tuesday it made earnings before interest, tax, depreciation and amortisation (EBITDA) of £27.9m in the year [...]
Ocado shares fall as finance chief resigns January 23, 2012 OCADO saw its shares fall yesterday after the online grocer announced that Andrew Bracey, its chief financial officer, has quit to join the recruiting agency Michael Page as its finance director. Bracey, who joined Ocado just 18 months ago ahead of its controversial flotation in 2010, will step down in April after completing the group’s [...]
Retail guru leaves the firm he helped to float January 23, 2012 ANDREW Bracey, who is leaving the world of online grocery shopping to join recruiter Michael Page, has been Ocado’s chief financial officer since November 2009. Prior to Ocado, he was head of consumer and retail investment banking at Jefferies International, with an 18-year career in investment banking and private equity behind him. After studying at [...]
Michael Page poaches Ocado finance chief January 23, 2012 Recruiter Michael Page has poached online grocer Ocado’s Andrew Bracey to replace Stephen Puckett as finance director at the increasingly global staffing group. Puckett stepped down after 11 years because he no longer wanted to undertake the travel needed for the job, Michael Page said on Monday. Bracey, who previously worked in private equity and [...]