Banco Popular deal puts a spring in bankers’ steps December 6, 2012 THE problems of the Eurozone are far from over but some investment bankers involved in capital raising issues are hoping a type of normality is returning to their battered markets. The contrasting fortunes of two financial deals, at either end of the year, provide the backdrop to their growing confidence. At the start of 2012 [...]
New Year present for Polymetal investors as firm plans dividend December 5, 2012 FTSE 100 miner Polymetal said yesterday it will pay its first ever special dividend, handing back $191m (£118m) to investors after solid financial results. Polymetal will pay a special dividend of $0.50 per ordinary share on 21 January next year. Chief executive Vitaly Nesis said: “The implementation of our new dividend policy reflects the importance [...]
Norilsk billionaires end feud with Abramovich as enforcer December 4, 2012 TWO Russian billionaires ended a four-year battle over the world’s biggest nickel and palladium miner yesterday by giving the largest voting stake in their $30bn (£18bn) company to Kremlin-favoured tycoon Roman Abramovich. Norilsk Nickel, which mines mineral deposits in Russia, was one of the biggest prizes handed to insiders in the post-Soviet carve-up of Russian [...]
Polymetal ups estimates at Albazino site December 3, 2012 RUSSIAN precious metals miner Polymetal said it would decide next year whether to double production capacity at its Albazino gold project in Russia’s far east after doubling its estimate of mineral resources there. “Exploration results at Albazino highlight the tremendous potential of this asset and pave the way for the expansion decision to be taken [...]
BP sees off TNK-BP shareholder claim as it sets out new strategy December 3, 2012 MINORITY shareholders in Anglo-Russian oil firm TNK-BP are withdrawing a 100bn rouble (£2.01bn) damages suit against BP after the main stakeholders agreed last month to sell their stakes to Russia’s Rosneft. A Siberian court in July awarded the damages against the British oil major in a case brought by a group of minority shareholders in [...]
FTSE 100 boosted by Chinese manufacturing figures December 3, 2012 The FTSE was up in early trading as investors responded positively to Chinese manufacturing figures. Meanwhile the equivalent UK figures, released this morning, show that British manufacturing activity shrank much less than expected in November. Despite this, concerns over the US “fiscal cliff” – a combination of US government spending cuts and tax rises due [...]
What the other papers say this morning December 2, 2012 FINANCIAL TIMES UK’s euro trade supremacy under fire The City of London should be deposed as the euro’s main financial centre so the single currency club can “control” most financial business in the Eurozone, France’s central bank governor has said. Christian Noyer of the Banque de France said there was “no rationale” for allowing the [...]
Benitez won’t be sacked yet, says Wilkins December 2, 2012 FORMER Chelsea assistant manager Ray Wilkins insists the team’s under-fire interim boss Rafael Benitez will not face the sack before the end of the season. Benitez has endured a horrid start, with two draws and then a first defeat coming away to West Ham on Saturday. The Spaniard, who played his part in a fierce [...]
Kcell prices IPO as London bags another listing November 29, 2012 KAZAKHSTAN telecoms firm Kcell priced its London listing yesterday, joining the flood of Russian and central Asian firms looking to raise funds in London. The leading mobile phone operator hopes to raise between $525m and $650m in the initial public offering (IPO). That would value the firm at $2.1bn (£1.3bn) to $2.6bn, as the 50m [...]
Megafon rises above $20 as it is fast-tracked into Russia’s MSCI November 29, 2012 SHARES in Megafon, the Russian mobile telecoms group controlled by Arsenal stakeholder Alisher Usmanov, rose above the $20 issue price yesterday on news that the stock would be fast tracked into the main Russian stock market index, the MSCI. Normally the MSCI requires three months of trading history for a company that has just floated, [...]