Banks lead tentative FTSE recovery September 23, 2011 European markets made a tentative recovery this morning after world economic leaders promises to pile in liquidity if the dire state of equities did not pick up. There was carnage on global markets yesterday with commodities and shares driven down by fears over the Eurozone crisis and the spluttering US economy. Commodities also took a [...]
TRADER | OF THE YEAR September 21, 2011 MICHAEL HINTZE CQS CQS founder Michael Hintze emerged as the star trader this year. Not only did his hedge fund make strong returns, but in January Hintze donated £2m of his personal wealth to the National Gallery. COMMENDED Stephen Roth, Man Group SHORTLIST Alex Beard, Glencore Richard Evans, Morgan Stanley David Hitchens, Unicredit
PERSONALITY | OF THE YEAR September 21, 2011 There was a strong case for each of the business titans on the shortlist for City A.M.’s prestigious personality of the year award. Ivan Glasenberg, chief executive of Glencore, pulled off the largest-ever float in London earlier this year, while Burberry chief Angela Ahrendts has done an “outstanding” job since taking the helm of the [...]
Glasenberg buys more shares September 20, 2011 Glencore chief Ivan Glasenberg has bought another 1.5m shares in the commodities trader at 437.67p per share, adding to the £13.5m he bought on Monday and the £10m he spent last week. Glasenberg plans to use his dividend income to buy up shares, with yesterday’s £6.56m investment topping up his total spend to around £30m [...]
Glasenberg adds to stake in Glencore September 19, 2011 GLENCORE boss Ivan Glasenberg has made another show of confidence in the commodity trader, buying almost £13.5m of shares to add to his holding as part of a plan to use his dividend income to buy more shares. Glasenberg, who announced last week he had bought £10m of shares and would buy more, bought another [...]
Sany Heavy to launch Hong Kong listing September 19, 2011 SANY Heavy Industry, China’s largest construction machinery maker, aims to raise up to HK$26bn (£2.1bn) in what could be Hong Kong’s second-biggest stock offering this year, as it defies volatile markets to fund an expansion. Sany Heavy’s offering is one of several deals that are pushing through Hong Kong’s narrowing initial public offering window, with [...]
Facebook could delay $60bn float to second half of 2012 September 14, 2011 FACEBOOK will delay its initial public offering (IPO) until the end of next year so employees can focus on developing products for the social networking website, according to reports. Facebook, which is expected to have one of the biggest IPOs in history, plans to go public at the end of 2012, a later public debut than [...]
First Reserve equity deal lifts Glencore September 8, 2011 GLENCORE rose to its highest level in five weeks in London trading yesterday after First Reserve International swapped its bonds in the commodities giant and bought shares, in a move that was seen by the market as a vote of confidence in the company. US private equity giant First Reserve confirmed yesterday that it had [...]
Sale is a sign of some much-needed faith September 8, 2011 LIKE a proud parent whose faith in its wayward child never falters, First Reserve has believed in Glencore since day one. When the then-privately held commodities giant issued its debut $2.2bn convertible bond in December 2009, First Reserve was one of the biggest investors, snapping up $800m of notes. Now it’s swapped those notes for [...]
Oil and gas companies lead a volatile FTSE to further gains September 8, 2011 BRITAIN’S leading shares ended higher after a volatile session yesterday, as investors emerged for beaten-down growth stocks to put a floor under the market. By the close the FTSE 100 was up 0.4 per cent at 5,340.38 points, taking a rally into a third straight day after an intraday trading range of 100 points, or [...]