GOODMANS RAISES THE STEAKS IN MAYFAIR August 23, 2011 CONTINUING the theme of the boom in the City’s resurgent restaurant scene, as reported yesterday, The Capitalist hears steakhouse Goodmans is plotting not one but two launches for November. One is a traditional Goodmans restaurant on the South Quay at Canary Wharf to complement the City and Mayfair venues. The other marks a new direction [...]
Russia’s largest shipping company mulls City listing August 21, 2011 RUSSIA’s state-owned shipping company Sovcomflot could make an initial public offering on the London Stock exchange by the end of the year, as the Russian government looks to push ahead with its ambitious privatisation plans. Sovcomflot, which is sending test cargoes along a new Arctic route to service Russia’s offshore oil fields, is at the [...]
Sportmaster looks to float in London in spite of turbulence August 18, 2011 RUSSIA’S largest sports equipment and clothes retailer Sportmaster is considering an initial public offering in London next year, financial market sources said yesterday. Sportmaster could attract up to $700m (£424m) in the IPO based on its own valuation of between $2.5bn and $3bn, the sources said, adding the retailer has not yet picked organisers for [...]
Five star: prices soar in London boroughs August 18, 2011 IT is not just Arab sheikhs and Russian oligarchs snapping up the best of London’s residential property. Estate agency Marsh & Parsons received interest from would-be buyers in 193 countries over the last month, according to chief executive Peter Rollings. The firm’s website had the most visits from potential investors from the US, France, Italy, Germany, [...]
London trends: who’s moving the prime market higher? August 18, 2011 THE headlines are clear: core prime central London property – that is central London property at the very top of the market in places like Knightsbridge, Chelsea and Belgravia – is rocketing in value, keeping pace with gold as an asset class. Supply of these properties is now chronically low, adding even more upward price [...]
SABMiller in hostile bid for Foster’s August 17, 2011 SABMILLER yesterday went hostile in its bid for Foster’s after the brewer’s board rejected a £6.1bn offer and flatly refused to enter negotiations. The owner of brands including Peroni and Grolsch has not raised its offer but is directly approaching shareholders to convince them to back a deal. Foster’s immediately rejected SABMiller’s offer in June, [...]
Other Aim-listed companies to consider August 17, 2011 ON THE difference between buying small as opposed to large company stocks, investment guru Jim Slater notably remarked: “Elephants don’t gallop.” While true, the worry for many investors is that instead of lasting 70 years, many Aim-listed companies have a life expectancy closer to that of the mayfly. However, not all Aim companies are born [...]
Heritage Oil boosts Russian output August 16, 2011 Production has more than trebled at one of Heritage Oil’s Russian fields, as results from drilling and testing one well exceeded expectations. The oil and gas company announced that production at the Zapadno Chumpasskoye Field increased from 431 barrels of oil per day (bopd) to the current level of 1,600 bopd. Well 363 is now [...]
BEST OF THE BROKERS August 10, 2011 WEIR GROUP Goldman Sachs has reiterated its “buy” rating for the engineering company, with a 12-month target price of 3,250p. Adding the group to its conviction buy list, the move was sparked by positive announcements on mining capex from the large miners and positive read-across from the mining capex exposed engineers. Goldman views the current [...]
BP sues Renova in latest spat with AAR partners August 9, 2011 OIL giant BP has launched a case with the Stockholm court of arbitration against one of the shareholders in its Anglo-Russian TNK-BP joint venture, echoing the two sides’ tussle over Rosneft earlier in the year. BP filed a claim last week against Renova, part of the Alfa-Access-Renova (AAR) consortium that controls half of TNK-BP, for [...]