A string of strong earnings reports sends FTSE jumping April 20, 2011 COMMODITY stocks helped power the FTSE 100 index sharply higher yesterday, while earnings from Reckitt Benckiser and Home Retail, following US tech bellwether Intel, boosted risk appetite. The FTSE 100 closed up 125.39 points, or 2.1 per cent, at 6,022.26 following a 0.5 per cent gain on Tuesday. This wiped out Monday’s 2.1 per cent [...]
Nomos shares close up on day one April 19, 2011 Russian private bank Nomos successfully closed its first day as a London-listed company yesterday, with its share price up ten cents to $17.60 (£10.80) per global depository receipt (GDR). Full unconditional trading of the shares is expected to start next Wednesday, after an initial period of conditional trading.
Nomos prices share offer to raise £443m April 18, 2011 RUSSIAN private bank Nomos has priced its London share offer at the higher end of expectations, as the faltering market for listings in the capital begins to show signs of life. Nomos will look to sell ordinary shares in Moscow for $35 (£21) apiece, while it will sell global depository receipts (GDRs) for $17.50 per [...]
Looking for an independent voice on Glencore April 18, 2011 AMONG all the many big beasts advising on the forthcoming flotation of commodities trader Glencore, one firm stands out in its unusualness and lack of big beastliness, and that is Liberum Capital. Liberum is an employee-owned investment bank whose Latin name means independent, whereas the rest of the advisers – including Credit Suisse, Morgan Stanley, [...]
Chelsea owner’s son buys £3m stake in oil investor April 18, 2011 THE 20-year-old son of Chelsea Football Club owner Roman Abramovich has followed his father into the oil and gas business by purchasing a stake in an investment vehicle specialising in the energy sector. Arkadiy Abramovich, who is the Russian oligarch’s oldest son, has bought a 26 per cent stake in Crosby Asset Management for £3m. [...]
Telenor could soon lose sway over Vimpelcom April 18, 2011 NORWAY’S Telenor faces losing its influence over Russian mobile operator Vimpelcom after fellow leading shareholder Altimo said it wants to scrap the company’s shareholder agreement to reflect the Russian telecom group’s recent blockbuster merger. Vimpelcom last week closed a $6bn (£3.7bn) cash-and-shares deal for 51.7 per cent of Orascom Telecom and 100 per cent of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 17, 2011 FINANCIAL TIMES EU TO PROBE DATA TRAFFIC MANAGEMENT Regulators are to launch the first pan-European investigation into telecoms companies’ controversial data traffic management practices, in an attempt to safeguard so-called net neutrality principles. European regulators will scrutinise whether fixed-line phone and mobile operators are giving consumers enough information about their traffic management policies. ACTELION GAINS [...]
Mamut ploughs on with Nomos despite setback April 17, 2011 BILLIONAIRE oligarch Alexander Mamut is set to become a cornerstone investor in Russian private bank Nomos in its upcoming London share offering, despite failing to raise funds in an aborted stock market sale last week. The Moscow-based businessman, best known in Britain as the owner of blogging site Livejournal, has placed an order for tens [...]
BP oligarchs talk tough over Rosneft dispute April 15, 2011 BP’s partners in its Russian venture TNK-BP rejected the UK oil major’s attempts to settle a dispute caused by its $18bn (£11bn) tie-up with Rosneft, casting further doubt on the deal. “Now is the time for sensible proposals from BP to resolve the problems that have been created,” Stan Polovets, chief executive of AAR, the [...]
Euroset float cancelled as buyers dither April 14, 2011 THE already shaky climate in the London new issues market worsened yesterday as the Russian mobile phone retailer Euroset pulled its £800m issue. While the deal was overshadowed by Glencore’s announcement, Euroset’s flotation is the latest smaller planned initial public offering (IPO) to have been dogged by uncertainty because of nervousness in the markets. Investors [...]