FTSE 250 movers: Lonmin rises on rights issue vote
20th Nov 2012 16:37
Platinum miner Lonmin was a high riser after shareholders yesterday voted in favour of a 817m dollar rights issue to repair its balance sheet. Strong growth internationally saw home emergency repairs group HomeServe achieve a decent increase in revenue and profit in the first half despite a slight
Read moreLondon close: Stocks rebound as 'Glenstrata' deal pushed through
20th Nov 2012 16:32
- Xstrata shareholders approve merger with Glencore - Hamas official says ceasefire has been agreed - Eurogroup meeting on Greece kicks off in Brussels After a poor start on Tuesday, UK stocks rallied in afternoon trade to finish broadly flat after shareholders approved the merger between FTSE 100
Read moreParagon produces record revenues and hikes dividend
20th Nov 2012 09:56
The Paragon Group produced record profits for the full year, enabling a 50 per cent hike in its dividend and the promise of a progressive payout policy. For the year ended September 30th, this specialist buy-to-let and consumer finance group saw total operating income of £170.2m (2011: £150.9m), pr
Read moreParagon renews warehouse facility with Macquarie
5th Nov 2012 07:57
In a sign of the times, mortgage provider the Paragon Group of Companies has seen its warehouse loan facility with Australian finance house Macquarie Bank renewed at a higher level. The company, which serves the buy-to-let market in Britain, said the facility has been increased from £200m to £250m.
Read moreMonday broker round-up - UPDATE
22nd Oct 2012 08:19
888 Holdings: Morgan Stanley ups target from 125p to 130p, overweight rating kept. Aggreko: Jefferies cuts target from 2,800p to 2,535p, buy rating kept; HSBC downgrades to underweight, target cut from 2,350p to 1,750p; JPMorgan Cazenove cuts target from 2,360p to 2,165p, neutral rating kept; Barcl
Read moreParagon in new securitisation package
18th Oct 2012 15:14
Resurgent buy-to-let mortgage provider The Paragon Group of Companies has announced details of the latest securitisation of part of its mortgage book. Rejoicing in the name Paragon Mortgages (No.17), or PM17 for short, the issue amount is £200m, comprising: £175m of AAA rated notes at a margin of 1
Read moreParagon acquires further unsecured loans from RBS
8th Oct 2012 13:23
Paragon, the FTSE-250 buy-to-let mortgage specialist, has acquired further unsecured consumer loans through its Idem Capital Securities subsidiary from the Royal Bank of Scotland under the terms of a forward flow agreement. Paragon is financing the purchase from its existing cash reserves and which
Read moreSunday share tips: Direct Line, Paragon, Hornby
30th Sep 2012 18:38
RBS is floating Direct Line to comply with rules on state aid - and private investors can buy the shares. But should you? The disposal by RBS has to start this year, with the majority of Direct Line sold by 2013 and the entire business by 2014. The initial plan is to sell 25 per cent, with a further
Read moreLloyds lends to Paragon
27th Sep 2012 07:54
Paragon, the buy-to-let mortgage specialist which virtually went into hibernation during the credit crunch when the wholesale funding markets seized up, has signed a new warehouse funding facility. The £200m revolving senior secured loan facility has been provided by the wholesale division of Lloyd
Read moreLondon close: Stocks flat, markets in 'wait and see' mode
10th Sep 2012 16:47
- Investors cautious ahead of pivotal week - Ruling on ESM and FOMC meeting in focus - Miners lead risers on hopes of QE3 London's FTSE 100 index finished just two points lower on Monday afternoon as investors refrained from building positions ahead of a busy week for the markets. The Footsie sta
Read moreFTSE 250 movers: Spirax-Sarco rises on upgrade
10th Sep 2012 15:50
Spirax-Sarco was performing well after Goldman Sachs upgraded the stock to 'buy' and raised its target price from 2,100p to 2,510p. Electronics retailer Dixons was up after revealing that it is seeking to retire some of its existing debt prior to issuing some new loan notes. The group has offered
Read moreParagon Group of Companies buys more RBS loans
10th Sep 2012 15:03
The Paragon Group of Companies has purchased further unsecured loans through its Idem Capital Securities subsidiary from The Royal Bank of Scotland under the terms of a forward flow agreement. The consideration, which is being funded through the firm's cash reserves, totals £25,000, representing th
Read moreFTSE 250 movers: Talvivaara gains after reassuring investors
3rd Sep 2012 15:17
Finnish zinc and nickel mining company Talvivaara was a high riser after it denied it will be cutting jobs as part of a cost savings plan. Rumours had been circulating that the low price of nickel would force a reduction in headcount. Shares in Lonmin, one of the world's biggest platinum producers
Read moreParagon buying up credit card debt
3rd Sep 2012 07:49
Paragon, the specialist buy-to-let mortgage lender, said one of its companies had snapped up a bundle of credit card debt from MBNA Europe Bank. The firm is finding fertile hunting ground in banks trying to clear debt off their balance sheets. The purchase of closed UK consumer credit card debt is
Read moreMore RBS loans dribble through to Paragon
8th Aug 2012 08:28
Resurgent buy-to-let mortgage specialist Paragon has bought another parcel of unsecured consumer loans from the Royal Bank of Scotland (RBS). Before tax-payers start celebrating a cash windfall for the part-nationalised lender, The Paragon Group of Companies is paying just £32,000 for the loans und
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