Investec upgraded with stable outlook by Moody's
3rd Feb 2016 13:53
(ShareCast News) - Ratings agency Moody's has upgraded by one notch the long-term ratings of Investec. The bank's long-term deposit rating was upgraded to A2 from A3 with a stable rating outlook, its senior unsecured rating to (P)A2 from (P)A3, its subordinated debt rating was upgraded to Baa3 from
Read moreFTSE 250 movers: Tullett Prebon leads market to higher weekly close
29th Jan 2016 14:55
(ShareCast News) - The FTSE 250 was set to end the week on a high, with the second tier market up 226.12 points (1.40%) to 16,422.67 by mid-afternoon on Friday. Shares in Tullett Prebon surged after it said market activity in the last two months of 2015 was higher than experienced in the same period
Read moreFTSE 250 movers: Entertainment One deal boosts share price
17th Dec 2015 15:04
(ShareCast News) - The FTSE 250 was up on the back of Wednesday night's rate hike from the Federal Reserve, up 122.43 points (0.72%) to 17,198.37 by mid-afternoon Thursday. Entertainment One surged over 5% after it announced it had extended its output agreement with DreamWorks Pictures through the c
Read moreFTSE 250 movers: Commodities downturn clobbers midcaps
14th Dec 2015 15:14
(ShareCast News) - The FTSE 250 bounced around on Monday with the market in the red by mid-afternoon, down 16.77 points (0.10%) to 16,860.52. The commodities downturn hit a number of FTSE 250 companies on Monday, with Evraz down over 15% by mid-afternoon. Three-month metal contracts were down, with
Read moreFTSE 250 movers: Oil prices weigh on market
11th Dec 2015 15:25
(ShareCast News) - With only two weeks to Christmas, the FTSE 250 wasn't feeling very festive on Friday after it fell 159.12 point (0.93%) to 16,921.13 by mid-afternoon. Oil stocks weighed on the second-tier market as oil prices hit new lows on Friday. Brent hit a seven-year low at $38.84, while Wes
Read moreFTSE 250 movers: Issues in Africa cause problems for Investec and PZ Cussons
10th Dec 2015 14:33
(ShareCast News) - The FTSE 250 continued to drop on Thursday, with the market down 52.17 points (0.30%) to 17,087.68 by mid-afternoon. Political events in South Arica caused Investec to plummet throughout the day. President Jacob Zuma on Wednesday evening fired the country's finance minister, Nhlan
Read moreInvestec highlights mixed divisional performance but confident on full-year
17th Sep 2015 09:40
(ShareCast News) - Financial services group Investec expects its UK specialist banking and South African banking businesses to post stronger results than last year, but said figures for the wealth and asset management divisions will be slightly behind the prior year. In a trading update, the company
Read moreNumis upgrades Investec to 'buy' and cuts earnings forecasts
25th Aug 2015 14:22
(ShareCast News) - Analysts at Numis have upgraded Investec to 'buy' from 'hold' and said the dual listed bank was undervalued. Numis cut its target price by 9.2% to 605p from 666p, and said recent equity market concerns and weakness in the South African rand had negatively impacted its forecast ear
Read moreInvestec lifts dividend after solid annual results
21st May 2015 11:21
Specialist bank and asset manager group Investec reported a sharp increase in annual operating profit from remaining operations, while customer deposits and loans also climbed strongly. The FTSE 250 group said profit from its remaining businesses rose 15% to £580.7m in the 12 months to 31 March, whi
Read moreInvestec results hurt by weak Rand
20th Nov 2014 10:51
Investec reported on Thursday that domestic currency depreciation against the sterling forced a 25.6% slump in net profit. The South African financial services group posted results for the six months to 30 September, showing a net profit of £121.6m, compared with a figure of £163.4m a year earlier.
Read moreTuesday broker round-up UPDATE
11th Nov 2014 09:55
AdEPT Telecom: WH Ireland moves target price from 170p to 185p, keeping its buy recommendation. Northland moves target price from 165p to 175p and maintains a buy recommendation. Betfair: JP Morgan raises target price from 1175p to 1350p and upgrades from neutral to overweight. BHP Billiton: JP Mor
Read moreThursday broker round-up UPDATE
9th Oct 2014 09:27
African Barrick Gold: Numis reduces target price from 330p to 270p keeping its hold recommendation. Antofagasta: Numis upgrades to hold with a target price of 700p. Aureus Mining: Numis lowers target price from 45p to 40p staying with its buy recommendation. Boohoo: Barclays initiates with a targe
Read moreInvestec announces disposal of Irish mortgage unit
15th Sep 2014 11:11
South Africa-based broker Investec has reached an agreement to sell its Irish intermediated mortgage business Start Mortgage Holdings, alongside other Irish mortgage assets to an affiliate of Lone Star Funds. The transaction is a part of Investec’s strategic drive to simplify and reshape its s
Read moreInvestec sells UK mortgage business Kensington
9th Sep 2014 08:05
South African banking group and asset manager Investec has sold its UK-based mortgage business Kensington for £180m. The sale, which includes certain other Investec mortgage assets, was made to funds managed by Blackstone Tactical Opportunities Advisors and TPG Special Situations Partners. The cons
Read moreFormer Investec traders lose three-year-long bonus battle
7th Aug 2014 13:47
"Fanciful" and "wholly incredible" were the words used by a London high court judge describing the battle between two ex-Investec traders, who lost a three-year-long bonus quarrel with the investment bank, forcing them to pay £1.5m. Andrew Brogden and Robert Reid, the former head and deputy head of
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