Close Brothers confident of good first half
22nd Jan 2010 07:30
Merchant bank Close Brothers said it remains confident that it will deliver a good overall result for the first half and a solid outcome for the full year, but cautioned that this will depend on the prevailing economic environment and financial market conditions. In the five months to 31 December,
Read moreFriday preview: Close Brothers, Invensys, Retail Sales
21st Jan 2010 16:41
Close Brothers is set to release an interim statement that is unlikely to see the merchant bank dominating the Editorial pages of the newspapers in another outbreak of banker bashing. The bank said in November it expects a solid performance for the current financial year after all three of its divi
Read moreLondon close: RBS leads the charge
4th Jan 2010 17:12
A strong start to the year on Wall Street gave London a boost, prompting the blue-chip index to finish at its highest point for the day. Part-nationalised lender Royal Bank of Scotland's led the advance after Exane BNP Paribas suggested that 'fundamental (rather than purely speculative) investor in
Read moreClose Brothers buy loan book
4th Jan 2010 16:29
Merchant bank Close Brothers Group has bought up the £94m invoice financing loan book of GMAC Commercial Finance for a maximum of £98m. As part of the acquisition terms, 23 staff will transfer over from GMAC Commercial Finance to Close Brothers. Close Brothers will merge the operations with its
Read moreThursday tips round-up: Capita, Mothercare, Vodafone
19th Nov 2009 06:12
It is too soon to tell whether the City's underlying fear ? that Capita's years of consistent double-digit growth are ending ? will be realised. However, in the interim, professional investors may prove unwilling to pay 721¾p, or 17 times 2010 earnings, if that trajectory is in doubt. For that reaso
Read moreClose Brothers expects solid year
18th Nov 2009 07:45
Merchant bank Close Brothers expects a solid performance for the current year after all three of its divisions had a decent first quarter, though it added the result will depend on the extent of any continuing economic and financial market recovery. The Securities division again did well reflectin
Read moreWednesday tips round-up: Compass, Moss Bros, Close Brothers
30th Sep 2009 06:45
Caterer Compass shares trade on a 2009 price earnings rating of 12.7 times, and offering a dividend yield of 3.7%, there are certainly better value stocks around, but Compass is a core holding; an investment to add to the portfolio and not worry about. Investors should take the chance to stock up. B
Read moreLondon close: Directionless day for FTSE 100
29th Sep 2009 16:52
Footsie finished slightly in the red after another day of flitting between the red and the blue while not showing any real sense of direction. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift into reverse
Read moreLondon afternoon: Back to square one
29th Sep 2009 14:34
It's back to square one for the Footsie which is barely changed on the day, with gains on banks and insurers counterbalanced by miners and property stocks. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift
Read moreLondon midday: Blue chips still struggling
29th Sep 2009 12:06
Miners and property stocks are keeping Footsie in the red despite the banking and insurance sectors going well. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of British Land, Land Securities, SEGRO and Hammerson to shift into reverse. Credit Suisse's
Read moreLondon open: Dull start for Footsie
29th Sep 2009 08:51
Three-figure gains in the US overnight haven't helped London much with blue chips going lower in early dealings. Property groups are weak with all of the sector heavyweights - British Land, Land Securities and Hammerson - under pressure. Banks are offsetting some of this weakness after the Times
Read moreWinterflood limits damage at Close Brothers
29th Sep 2009 07:53
Merchant bank Close Brothers produced a 'solid' full-year performance thanks in no small part to a doubling of profits at market maker Winterflood, although profit still fell 11%. Adjusted operating profit from continuing operations for the year ended 31 July slipped to £113.7m from £127.5m in 2008
Read moreTuesday preview: Compass, Daily Mail, Close Brothers
28th Sep 2009 14:54
Investors will be looking for signs of life in the advertising market, which contributes around 30% of group revenues, in the trading statement from newspaper publisher Daily Mail and General Trust (DMGT) on Tuesday. Comparative figures for a year ago are soft so the company should be able to repor
Read moreReed Elsevier's new chairman takes a stake
31st Jul 2009 16:06
Reed Elsevier's new chairman Anthony Habgood has signalled his commitment to the specialist publisher with the purchase of £218,000 in shares. He paid 436p a time for 50,000, his first stake in the firm, whose stable of publications includes Farmers' Weekly and New Scientist. His purchase comes af
Read moreLondon close: US surge extends Footsie's winning streak
23rd Jul 2009 16:32
Footsie's winning streak extended to nine days as US markets surged ahead on better than expected June home sales and forecast-busting results from a number of US household names. Trading had been quiet up until mid-afternoon, but as soon as the US markets started to pick up buyers returned in earn
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