European equities: Profit growth continues to drive the rally June 19, 2018 In his European equity funds Berenberg European Focus Fund and Berenberg Eurozone Focus Fund, which were launched in early October 2017, fund manager Matthias Born focuses on enterprises with stable profit growth. And so naturally he is delighted that corporate profits in Europe rose strongly again in 2017, for the first time in a long [...]
CYBG agrees deal with Virgin Money June 18, 2018 | City Talk This morning CYBG confirmed that it had reached a £1.7bn deal with Virgin Money to create a new challenger bank to the big four of HSBC, Barclays, Lloyds and RBS. While some have suggested that the terms of the deal aren’t exactly generous I think the deal is less about the terms than whether it's [...]
FTSE 100 ends the day 100 points down despite Rolls-Royce gains June 15, 2018 The FTSE 100 ended the day down more than 100 points as trade war fears reared their head again. After Donald Trump confirmed he will slap tariffs on $50bn worth of Chinese goods, London's blue-chip index closed down 131.9 points at 7,633.9. Global market sentiment was low today, but the FTSE performed particularly poorly due [...]
Majestic Wine reveal solid FY figures, but outlook is cautious June 14, 2018 | City Talk Majestic Wine revealed solid full-year figures this morning, but issued a cautious outlook. Revenue rose by 2.3% to £476.1 million, broadly in line with estimates. Pre-tax profits jumped by 33% to £17.2 million, meeting analysts’ forecasts. The total dividend was increased by 40% to 7.2p, which comfortably topped the consensus estimate of 5.67p. The wine [...]
Petra Diamonds share price tumbles over 20 per cent as company fights to raise £127.4m June 14, 2018 Shares in mining company Petra Diamonds have fallen 23 per cent this morning, after the company flooded the market with new shares in an effort to raise £127.4m. Shareholders approved the rights issue to help cut the company’s debt burden at a special general meeting yesterday by a 99 per cent majority, driving share prices [...]
Vue Entertainment to postpone IPO after major Canadian shareholder considers selling stake June 14, 2018 The UK's largest cinema chain, Vue Entertainment, may postpone its plans for a stock market float after news that one of its biggest shareholders is considering selling its stake in the company. According to Sky News, which first reported the reshuffle, Canadian company Alberta Investment Management Corporation (Aimco) is seeking a buyer for its ts [...]
Unilever shares drop as position in the FTSE looks uncertain June 14, 2018 Unilever has said it is unlikely to remain in the FTSE indexes after its planned move to a single headquarters in Rotterdam. Under plans announced in March, Unilever will ditch its dual-structure system, abandoning London in favour of The Netherlands. At a presentation today, chief financial officer Graeme Pitkethly said the company was "extremely unlikely" [...]
Ex-Goldman investment manager plans to raise £100m in new Indian equities investment trust Ashoka June 12, 2018 A former top investment manager at Goldman Sachs plans to raise £100m on London’s stock market to invest in companies focused on India. Ashoka India Equity Investment Trust today announced its intention to launch its initial public offering on London’s main market, with a view to eventually investing in between 20 and 40 stocks. The [...]
French asset manager Comgest bets on London with new office launch June 12, 2018 Paris-headquartered asset manager Comgest has backed London with the launch of its first UK office in Mayfair. UK-based clients represent approximately seven per cent of Comgest’s asset under management, around £1.8bn out of £25.1bn. Read more: Strong performance by asset managers fails to prevent fees being squeezed Comgest’s chief executive officer Arnaud Cosserat said: “Comgest [...]
Aquis gears up for £12m float on London Stock Exchange June 11, 2018 Share-trading venue Aquis Exchange is set to float on Thursday as it seeks to raise £12m following previous investment. The pan-European cash equities exchange, which is aiming to be valued at £73m with a share price at around 269p, is planning to list on the Alternative Investment Market (Aim). With the firm having already raised [...]
