Best of the Brokers for 30 May 2014 May 29, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AMEC Berenberg has initiated on Amec with a “buy” recommendation and a target price of 1450p. The broker says the merger with Foster Wheeler will give Amec “transformative potential” through revenue synergies, with likely sustained strong earnings growth provided by its North Sea [...]
Supermarkets are getting a quiet boost as entertainment spend booms online May 29, 2014 In the UK, one third of our spend on entertainment – so on CDs, DVDs and games – is now done online. Data from Kantar Worldpanel, covering the first part of this year, show that one in every three pounds people spend on physical entertainment objects is online. Interestingly, 20 per cent of all online [...]
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 [...]
What the other papers say this morning – 29 May 2014 May 28, 2014 FINANCIAL TIMES Performance comparison made easy Investors will find it easier to compare the performance of companies around the world following the culmination of a 12-year project to bring together US and international revenue reporting. Accounting regulators in the US and Europe on Wednesday published a joint standard on how companies report revenue from contracts [...]
Tesco ends talks to sell off 191 Turkish stores May 27, 2014 TESCO confirmed yesterday that it has scrapped plans to sell its loss-making business in Turkey after talks with potential joint venture partners broke down. The supermarket chain was in talks with various groups over Kipa, which has 191 stores. These parties were reported to include private equity group BC Partners about creating a joint venture [...]
Letters to the Editor – 28/05 – Ukip’s rise, Best of Twitter May 27, 2014 Ukip’s rise [Re: Why it’s hard to be optimistic about the future of UK politics, yesterday] Your point about Ukip needing to deal with the Lib Dem problem of being one thing to one set of supporters, and another to a different set, is spot on. It’s odd seeing so many younger metropolitan supporters regard [...]
John Lewis reveals the five brand new technologies it’s investing in May 27, 2014 John Lewis today crowned the five technology startups that have won a place in the retailer’s technology incubator, called JLAB. The winners were chosen from a shortlist of 30 companies that were given five minutes last week to pitch a product that will help ensure John Lewis’s stores and website remain at the forefront [...]
Best of the Brokers for 27 May 2014 May 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO Deutsche Bank has maintained its “buy” recommendation and target price of 342p for the supermarket chain, ahead of a first-quarter trading update on 4 June. The broker forecasts UK sales to deteriorate but expects Europe to continue the improved trend seen in [...]
Seven habits of the most effective digital enterprises May 23, 2014 In an age where most developed economies are experiencing lacklustre growth, digital continues to expand at an ever more rapid pace. E-commerce is booming at double-digit rates in the US, as well as the majority of European countries, and is rising across Asia. However, many companies are struggling to move beyond the experimentation stage of [...]
B&M Retail lines up £2.5bn stock market debut May 22, 2014 B&M RETAIL, the discount shopping chain, yesterday batted away fears of a slowdown in London’s new issues market as it unveiled plans for a £2.5bn main market float. The chain, founded in 1978 by a shopkeeper in Blackpool, said its £1.2bn turnover, ambitious expansion plans and overseas subsidiaries set the company apart from others trying [...]