FTSE 100 steady on worries over global growth September 25, 2012 The FTSE 100 was modestly up in early deals this morning, as a rally in natural resources and property stocks pulled the index higher, although worries over global growth and Spain’s economy continued to dampen stocks. Spain is due to present its draft budget plan for next year later on this week. Property group Morgan [...]
What the other papers say this morning September 25, 2012 FINANCIAL TIMES Temasek considers StanChart stake Singapore investment fund Temasek has sounded out potential buyers for its £6bn stake in Standard Chartered, potentially reigniting talk of a takeover of the emerging markets bank. The fund, which is owned by the Singapore government, had been judging buyer interest for its 18 per cent shareholding in recent [...]
Sberbank shares launch on LSE in UK’s biggest listing of 2012 September 24, 2012 RUSSIAN giant Sberbank listed in the London Stock Exchange yesterday, joining the flood of firms from the country coming to the City. The Russian central bank sold a 7.6 per cent stake in the institution, raising $5.2bn (£3.2bn) on the Moscow and London markets – though 85 to 90 per cent of that was on [...]
Promsvyazbank confirms plans for London float September 24, 2012 PROMSVYAZBANK (PSB), one of Russia’s largest privately owned lenders, said yesterday it will proceed with its long-awaited initial public offering (IPO), aiming to strengthen its capital and better position itself to compete with state-owned banks. PSB is seeking to capitalise on positive investor sentiment towards Russian banks, powered by market leader Sberbank’s partial privatisation last [...]
Promsvyazbank unveils plans for London-Moscow listing September 24, 2012 Russian lender Promsvyazbank said this morning it is proceeding with a dual London-Moscow initial public offering, becoming the latest Russian company to tap the London markets for funding. It is understood the IPO is hoping to raise up to $500m (£308m). The IPO follows news that Russia’s top lender Sberbank raised just over $5bn by [...]
Russian bank targets $500m in London float September 23, 2012 ADVISERS to Promsvyazbank, one of Russia’s largest privately owned banks, will today start pre-marketing a planned initial public offering in London aimed at raising up to $500m (£307m), two sources close to the placement said. The bank asked Russia’s local market regulator earlier this month for permission to list its shares on the London Stock [...]
Russian planned for BP board September 23, 2012 British oil giant BP, which wants to buy a stake in Russian state-controlled rival Rosneft, plans to appoint a prominent Russian to its board of directors as part of a new commercial alliance with the Kremlin, it was reported yesterday. Bob Dudley, BP’s chief executive, discussed the plan with Vladimir Putin last week at a [...]
Antarctica is a mysterious, icy wonderland and a visual feast September 23, 2012 THE Antarctic tundra is a black and white world, except for the occasional colourful beak, feather, foot or fin, or the blue ice and turquoise underbelly of a whale. While it is certainly remote and desolate, it is also pure and peaceful: it makes you feel alive. From October to March, there is no night [...]
BP proposes buying stake in Rosneft September 21, 2012 Oil giant BP is eyeing a stake in Rosneft, following negotiations with the Russian oil firm to buy the British oil major’s stake in TNK-BP, Rosneft chief executive Igor Sechin said today. BP confirmed today that if it were successful in selling its 50 per cent stake in TNK-BP, it would be “interested in investing [...]
Capital Shopping Centres to tap bond market for £300m in cash September 20, 2012 CAPITAL Shopping Centres (CSC), the UK’s largest shopping centre owner, has become the latest listed property firm to turn to the market for cash after it launched a £300m bond issue yesterday. The owner of malls including the Trafford Centre in Manchester and Lakeside in Essex, is offering £300m of senior, unsecured convertible bonds due [...]