London 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
Read moreParagon Group reports strong nine-month performance
19th Jul 2012 07:48
Buy-to-let mortgage specialist Paragon Group has delivered strong financial performance, in line with management expectations, during the period from October 1st 2011 to June 30th 2012. Operating profits came in at £68.9m compared to £58.9m during the same nine month period the previous year, prim
Read moreParagon sees first loan book growth in four years
23rd May 2012 08:04
Buy-to-let mortgage specialist Paragon Group has experienced its first period of loan book growth since the height of the credit crunch in 2008. For the six months ended March 31st, profit before tax rose 13.4% year-on-year from £39.5m to £44.8m, driven primarily by profits from acquired loan portf
Read moreThursday broker round-up - UPDATE
26th Jan 2012 09:34
Misys: Panmure Gordon cuts target from 335p to 295p, hold rating unchanged; Peel Hunt puts 250p target under review, hold rating kept; Merchant Securities initiates coverage with sell rating and 220p target. Mitchells & Butlers: Panmure Gordon keeps hold and 240p target; Peel Hunt retains hold rati
Read moreParagon remains strong
26th Jan 2012 09:04
Specialist lending company Paragon has remained strong, in line with management expectations during the period since October 1st, the firm said. Paragon generated operating profits of £20.3m, compared with £18.1m for the corresponding period in the previous year, the increase largely the result of
Read moreParagon re-enters buy-to-let market, posts profit rise
22nd Nov 2011 09:53
Paragon, the specialist lending company has seen pre-tax profits rise to £80.8m in the twelve months to the end of September, a gain of 12.5% on the prior year figure of £71.8m. Final dividend was lifted to 2.65p from 2.40p, giving a full year dividend of 4p per share (2010 3.6p). Paragon is split
Read moreFTSE 250 Movers: Paragon rising high
2nd Nov 2011 14:33
Buy-to-let mortgage specialist Paragon was rising high after reporting that it continues its resurrection with plans to securitise around £150m of its mortgage book to raise fresh funds to lend out to landlords. Meanwhile the computing firm Logica has seen its share price nose dive 8.4% today as i
Read moreWPP, Paragon raising funds
2nd Nov 2011 14:19
Acquisitive advertising conglomerate WPP is looking to raise funds through a bond issue, and is offering existing bond-holders the opportunity to exchange old for new. The company has announced a private cash offering of new 10-year senior notes, due 2021, and plans to offer to exchange up to $450m
Read moreParagon acquires unsecured loans from RBS
27th Oct 2011 07:40
Buy-to-let mortgage specialist The Paragon Group of Companies has acquired a portfolio of unsecured consumer loans from The Royal Bank of Scotland. The £43.2m consideration, which is being financed from Paragon's cash reserves, represents the value at which the acquired loans will be taken on to t
Read moreSunday newspaper round-up: Npower, LSE, Greece, Northern Rock ...
3rd Jul 2011 11:22
Npower, one of Britain's biggest electricity suppliers, could be sold for up to £5 billion after its German owner, RWE, hired Goldman Sachs to review its future, The Sunday Times reports. Insiders said RWE is now considering a sale because of its hefty debt burden, the need to invest billions in a n
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