London Report: New US pharma rules drag down UK drug firms September 23, 2014 THE FTSE 100 took a tumble yesterday as pharma shares were hit by overnight news that the US had announced new rules to reduce the benefits available to its companies buying overseas businesses for tax reasons. The FTSE 100 suffered a 1.44 per cent fall to 6676.08 points, its worst performance since 3 March. Poor economic [...]
Tate & Lyle share price plummets following profit warning September 23, 2014 Tate & Lyle's share price has plummeted 17 per cent in early trading after company sliced its profit outlook for the year. It's a bitter pill to swallow for the foods group, whose Splenda sweetening business is struggling with intense competition and falling prices of sucrose. The company's expected profit for the year had been [...]
Bank veteran Liz Airey to orbit Jupiter Fund Management as chair steps back September 2, 2014 Jupiter Fund Management swapped one investment banking veteran for another yesterday after its chairman was forced to retire due to ill health. Former SG Warburg financer Liz Airey was appointed chairman after incumbent Jamie Dundas, a former Morgan Grenfell banker, was forced to step down. Dundas, who is 63 and also a non-executive [...]
London Report: UK’s second quarter growth and minutes from Bank in focus July 21, 2014 THE first estimate of gross domestic product data for the second quarter is likely to be closely watched after hints of a rate rise later this year. The minutes of the July meeting of the Bank of England’s Monetary Policy Committee will also be of interest, for the same reason, and retail sales figures will [...]
Tate & Lyle names PepsiCo exec Nick Hampton as finance chief June 24, 2014 Sweetner giant Tate & Lyle said yesterday it had hired PepsiCo executive Nick Hampton as its new chief financial officer. Hampton has been at PepsiCo for more than 20 years and was most recently the food and drink company’s president of west Europe. He will take over from Tim Lodge at the beginning of September.
Best of the Brokers for 05 June 2014 June 4, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com MONDI Jefferies keeps its “buy” rating and raises its target for the packaging and paper producer to 1,325p. The broker thinks Mondi has the greatest emerging market presence in the sector and enough capacity on its balance sheet to pursue acquisitions or return cash [...]
What you need to know before the open May 29, 2014 European markets are expected up this morning, with the focus on the latest first quarter GDP number from the US. Bond prices continued to rise yesterday – in peripheral as well as UK and German ones – with the market still firmly decoupled from equities. Data-wise, things are quiet in Europe, with the significant numbers [...]
London Report: Help To Buy under the microscope as new data released May 27, 2014 HELP To Buy will be under the microscope again this week when the Treasury publishes data showing the impact of the second part of the controversial scheme to aid borrowers. Following fast-growing criticism that the mortgage guarantee element is fuelling a housing bubble, analysts will be keen to dissect the government’s figures on Thursday. More [...]
London Report: Mortgage lending data to shine light on housing boom March 30, 2014 MORTGAGE approval data for February, due out today, are likely to highlight more growth in the heated housing market. The figures will be closely watched after the Bank of England last week warned some borrowers may be overstretching themselves in the current fast-moving market. Purchasing Managers’ Index (PMI) data for manufacturing, construction and services published [...]
FTSE 100 down after reshuffle March 24, 2014 STOCKS joining the FTSE 100 index had a weak first day yesterday, joining as the market fell. Barratt Developments’ stock price dropped 2.4 per cent on its first day in the top index, while finance group St James’s Place dipped 1.52 per cent. Meanwhile FTSE 100 leaver Amec, the oil and gas firm, fell 0.91 [...]