Investec 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
Read moreInvestec's results hurt by currency headwinds
31st Jul 2014 11:02
Asset manager Investec posted a 1% rise in first-quarter operating income as bad debt losses dropped 17%. Operating profit before goodwill, acquired intangibles, non-operating items and taxation and after total non-controlling interests is 10% ahead of the previous year, according to a trading upd
Read moreThursday broker round-up UPDATE
31st Jul 2014 09:30
Afren: Oriel places both target price and recommendation under review. Canaccord Genuity places both its target price (prev.: 150p) and its hold recommendation under review. Investec places its target price (prev.: 195p) under review and downgrades from buy to hold. Arbuthnot: Numis ups target pric
Read moreInvestec's annual profits higher on Wealth and Investment
22nd May 2014 10:30
- Operating profit up six per cent - Wealth and Investment division boosts results - Dividend raised to 19p from 18p Investec reported a six per cent rise in annual operating profit to 451.8m, driven by the strong performance of its Wealth and Investment division. Wealth and Investment operating p
Read moreFriday broker round-up UPDATE
11th Apr 2014 08:49
African Barrick Gold: Numis raises target price from 170p to 260p and upgrades from sell to hold. Antofagasta: Numis downgrades from hold to reduce with a target price of 700p. Ashmore Group: Jefferies ups target price from 375p to 400p and keeps a buy recommendation. JP Morgan lowers target price
Read moreInvestec sells Australian assets to Bank of Queensland
11th Apr 2014 07:18
Financial services group Investec is to sell its Australian Professional Finance and Asset Finance and Leasing businesses to Bank of Queensland (BOQ). The FTSE 250 company announced on Friday that it has entered into a definitive contract with BOQ to sell Investment Bank Australia Limited's (IBAL's
Read moreWednesday broker round-up UPDATE
9th Apr 2014 09:09
Aberdeen Asset Management: RBC Capital moves target price from 485p to 495p and maintains an outperform rating. African Barrick Gold: Deutsche Bank upgrades to buy with a target price of 310p. African Minerals: Investec reduces target price from 241p to 198p and leaves its buy recommendation uncha
Read moreFTSE 250 movers: Crest Nicholson hit by reports of major shareholder sale
21st Mar 2014 14:00
Crest Nicholson dropped after Bloomberg reported that the housebuilder's largest publicly disclosed shareholder, Deutsche Bank, is disposing of as many as 16.5m shares. The German bank is thought to have a 10 per cent stake in the company. Pharmaceuticals firm Hikma was also trading in the red toda
Read moreBroker tips: Pearson, Meggitt, Ophir Energy, Investec, FirstGroup
21st Mar 2014 11:41
Credit Suisse has lowered its target price for publishing group Pearson from 1,410p to 1,260p after last month's profit warning, but said that the downgrade cycle is now over as it maintained an 'outperform' rating on the stock. It said that 2014 will be a "trough year" for Pearson's earnings and
Read moreNumis highlights positive momentum at Investec
21st Mar 2014 10:15
Numis Securities has upgraded its forecasts for Investec after the specialist banking group and asset manager reported an 'improved performance' in its pre-close trading update this week. The broker has lifted its earnings per share (EPS) estimates for this year (ending March) by 4.5% to 37.4p. EPS
Read moreInvestec operating profit to edge higher despite rand depreciation of rand
20th Mar 2014 12:21
Overall performance in the second half was negatively affected by the depreciation of the rand against sterling, Investec said in a pre-close trading statement on Thursday, while operating profit is expected to be marginally ahead of the prior year. Although revenue is likely to be marginally beh
Read moreInvestec's results hurt by weak currency exchange
6th Feb 2014 09:55
- Weak rand impacts results - Income broadly flat - Operating profit up 12 per cent Investec said it was negatively affected by the depreciation of the South African rand against the pound over the nine months through December 2013. Total operating income was broadly flat compared to the prior yea
Read moreIncoming Experian CEO sells nearly half of vested shares
28th Jan 2014 16:01
Brian Cassin, who was this month unveiled as the incoming Chief Executive Officer (CEO) of Experian, has disposed of a number of shares after they vested under the company's Recruitment & Retention Plan. Of the 26,799 shares that vested, Cassin, who is currently Group Chief Financial Officer, trad
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