London pre-open: Gains expected after Chinese data
3rd Dec 2012 07:27
The FTSE 100 index is expected to open with moderate gains on Monday morning after upbeat manufacturing figures from China released this weekend. City sources predict that the Footsie will open around 5,875 to 5,880, up from Friday's close of 5,867. The final reading for the HSBC China purchasing
Read moreParagon eyeing up Hampshire Trust
3rd Dec 2012 07:06
Mortgage provider Paragon Group of Companies backed up press speculation on Monday morning by confirming that it is thinking about acquiring small private bank Hampshire Trust. The Sunday Times reported yesterday that the buy-to-let lender was in discussions with Hampshire Trust over a deal that wo
Read moreSunday newspaper round-up: Virgin Atlantic, Tesco, RBS
2nd Dec 2012 17:44
America´s largest airline is plotting to take control of Virgin Atlantic after making a secret approach to the British carrier's big Asian shareholder. Delta Air Lines is understood to have offered to buy Singapore Airlines' 49 per cent holding in Virgin. If it succeeds, Delta's European partner, Ai
Read moreLondon close: Footsie registers best weekly performance this year
23rd Nov 2012 16:45
- FTSE 100 gains 3.8 per cent higher on the week - German and French confidence data beats expectations - EU summit ends with deadlock After a subdued start, UK stocks rallied in afternoon trade on Friday with decent economic figures from Germany and France lifting the mood. The positive finish h
Read moreFTSE 250 movers: Lonmin and Hochschild take a hit
23rd Nov 2012 15:40
Platinum miner Lonmin was among the heaviest fallers on the second-tier FTSE 250 index on Friday afternoon following some bearish comments by UBS this morning. The Swiss broker slashed its target price for Lonmin's shares from 260p to 240p and reiterated its 'sell' recommendation on the back of low
Read moreWednesday broker round-up UPDATE
21st Nov 2012 07:10
Avocet Mining: Goldman Sachs downgrades from neutral to sell. Barr (AG):Numis upgrades to add with a traget price of 525p. British Land: Morgan Stanley raises target price from 540p to 570p and upgrades to overweight. Jefferies raises target price from 554p to 561p, hold recommendation maintained.
Read moreFTSE 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
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