Safestore chief executive locks up some cash
28th Sep 2011 15:32
Safestore's chief executive Peter Gowers has made his first deposit since joining the self storage company in February, spending more than £100,000. He took 100,000 shares at 105p a time. Gowers is a former chief executive of Holiday Inn owner InterContinental Hotels Group's Asia Pacific division
Read moreBroker tips: Fund managers, asset managers, Lifeline Scientific
26th Sep 2011 14:33
RBS has upgraded its rating on Ashmore to "buy" from "hold" following heavy falls in the fund manager's share price lately. "We see the recent share price pullback as an excellent opportunity to gain exposure to this high quality business," RBS says. It points to Ashmore's "strong funds flow outlo
Read moreUPDATE: Broker tips roundup
26th Sep 2011 10:51
Ashmore: RBS has upgraded to 'buy' from 'hold'. Has lowered price target to £4.04 from £4.15. Jupiter Fund Management: RBS has downgraded to 'sell' from 'hold'. Schroders: RBS downgrades to 'hold' from 'buy', lowers target price to £12.5 from £19.7. Easy Jet: Nomura keep at buy with target uncha
Read moreLondon close: Good gains as FTSE 100 rallies
13th Sep 2011 16:58
Stocks rediscovered their earlier buoyancy to finish with strong gains as hopes of a resolution of the euro crisis attracted buyers. Today's big mover, Cairn Energy, fell sharply after reporting disappointing results from its drilling campaign offshore Greenland, with one well coming up dry and ano
Read moreFTSE 250 Movers: M&B rises after takeover rejection
13th Sep 2011 13:39
Mitchells and Butlers (M&B), the restaurant and pub company behind the Harvester and O'Neill's chains, has rejected a takeover offer from its largest shareholder, the billionaire Joe Lewis. Evolution Securities believes that Lewis's 230p-a-share offer for M&B is priced at a "measly" premium and re
Read moreLondon midday: Eurozone worries resurface
13th Sep 2011 12:07
This morning's bright start seems a distant memory now, with shares firmly in the red as worries over the Eurozone situation take centre stage again. Today's big mover, Cairn Energy is sharply lower after reporting disappointing results from its offshore drilling campaign offshore Greenland, with o
Read moreLondon open: M&B leads the rise after offer rejection
13th Sep 2011 08:32
Reports that China is planning to provide support to the Eurozone helped UK stocks higher on Tuesday morning, following a late recovery on Wall Street last night. Wall Street's rally was prompted by reports that Italy's government is negotiating with the Chinese government in the hope that Beijing
Read moreRecord profits at Ashmore, though margin eases
13th Sep 2011 07:35
The year to the end of June saw assets under management (AuM) and profits hit record levels at asset manager Ashmore Group, though the former was boosted by the takeover of Emerging Markets Management (EMM). Profit before tax rose 13% to £245.9m from £217.2m the year before, on total net revenue th
Read moreLondon pre-open: London likes idea of Chinese cavalry
13th Sep 2011 07:30
After Wall Street's dramatic late recovery yesterday, London is expected to open firmer today, with City sources predicting the FTSE 100 will open up 75 points from yesterday's close of 5,130 on hopes that the Chinese government will ride to the rescue of the Eurozone. Wall Street's rally was promp
Read moreTuesday preview: Ashmore, Abcam
12th Sep 2011 15:53
Fund manager Ashmore is set to issue full-year results on Tuesday. Singer Capital Markets is a fan of the shares and expects that with positive returns since the company's financial year end, flow momentum will have remained strong. "Furthermore, the flagship external debt fund, EMLIP, crystallises
Read moreWeek Ahead: Next, Kingfisher, Ashmore
9th Sep 2011 13:51
Two stalwarts of the UK high street are reporting next week, namely fashion chain Next and DIY retailer Kingfisher. Charles Stanley is expecting Next to report a solid set of interim results, with profit before tax of £240m, up from £214m at the halfway stage last year. Earnings before interest, t
Read moreFriday tips round-up: Pendragon, Centaur, ABF
15th Jul 2011 06:33
The rights issue from Pendragon, our biggest car dealer, does the job of shoring-up the finances and putting the business in a better shape to go ahead. It is also enormous, nine new shares for eight and at 10p, is a 54% discount to the last closing share price. Nick Bubb at Arden Partners is looki
Read moreFTSE 250 movers: Kraft's exec takes helm at Premier Foods
14th Jul 2011 15:12
Premier Foods unveiled industry veteran Mike Clarke as its new head honcho, which pleased the investors as shares shot up 10%. Premier Foods, which has lost about 15% of its value since the company's announcement of a profit fall, was the top flyer on the index. Clarke, currently President of Kraft
Read moreInvestors back Ashmore's currency strategy
14th Jul 2011 10:46
Ashmore Group, the FTSE 250 investment manager, saw a 31% increase in assets under management in its final quarter. This performance was achieved through several significant increases scored by the firm's investment "themes". Notably, local currencies saw a 24% increase while corporate debt rose 27
Read moreBroker tips: Punch, PZ Cussons, Ashmore
14th Apr 2011 12:44
Credit Suisse retains its 'outperform' rating at pub owner Punch Taverns, but cuts its target price saying that a turnaround in its Spirit arm its not yet fully appreciated by the market. "We believe the demerger makes sense, as it will separate the Spirit business, which is growing and has turnaro
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