Steinhoff raises at least €1.9bn to allow more acquisitions
28th Sep 2016 12:08
(ShareCast News) - South African billionaire Christo Wiese's Steinhoff International has confirmed its intention to raise €1.9bn-2.5bn after its recent acquisitive spree. The Frankfurt-listed furniture and general merchandise retailer, which this year has agreed to buy Poundland in the UK and Mattre
Read moreMonday broker round-up
19th Sep 2016 09:52
(ShareCast News) - Lloyds: Jefferies reiterates buy with a target price of 67p. Astrazeneca: UBS reiterates buy, 5480p target. Britvic: JP Morgan keeps at underweight with a 590p target. Unilever: UBS reiterates neutral with a 3380p target. IHG: HSBC starts coverage at reduce with a 2900p target.
Read moreSunday newspaper round-up: IPO frenzy, sterling shorts, M&S, Morrisons
4th Sep 2016 14:42
(ShareCast News) - The City of London is girding itself for a £30bn frenzy of initial public offers (IPOs) in coming months as backers look to profit from the London stock market's impressive recovery since the Brexit vote. Flotations including the £10bn City debut of mobile operator O2, a £1.5bn is
Read moreFriday newspaper round-up: Poundland, Scotland, IMF
2nd Sep 2016 06:52
(ShareCast News) - The battle for control of Poundland took a fresh twist after a voracious New York hedge fund raised its stake in the high street chain to nearly 25%. The board of Poundland has agreed to a £610m takeover by South African retail group Steinhoff, whose UK empire already includes fur
Read moreThursday newspaper share tips: 888 Holdings, Steinhoff, Poundland
1st Sep 2016 19:00
(ShareCast News) - 888 Holdings is a classic case of 'prey turned predator', The Times´s Tempus said. Owning its own technology - unlike most of its would be suitors - had allowed the company to maintain a steady rate of organic growth over the past five years - and turn the tables on its rivals. S
Read moreThursday newspaper round-up: Pension deficits, sovereign bond yields, Rolls-Royce, Poundland
1st Sep 2016 07:45
(ShareCast News) - The scrapping of a dividend by specialist plastics group Carclo due to its spiralling pension deficit triggered rules that prohibited a payout could be a watershed moment for British business as it highlighted the crisis in corporate pensions. The combined deficit of all the UK's
Read moreThursday broker round-up
18th Aug 2016 09:43
(ShareCast News) - Admiral Group: RBC reiterates underperform with a target price of 1600p. Laird: Berenberg maintains sell with a 230p target. BGEO Group: UBS reiterates neutral with a 2960p target. ICAP: Exane BNP Paribas upgrades to outperform with a 510p target. Poundland: Credit Suisse keeps
Read moreSteinhoff lifts offer for Poundland
11th Aug 2016 08:12
(ShareCast News) - South Africa's Steinhoff International has improved its offer for London-listed discount retailer Poundland to £610.4m. Steinhoff has upped its offer by 5p per share to 227p in cash per share, made up of 225p and a 2p dividend. The revised offer represents a 43.4% premium to the
Read moreSunday newspaper round-up: Interest rates, EU single market, IHG, Poundland
7th Aug 2016 15:33
(ShareCast News) - Savers face five more years of record-low returns, with investors betting that the Bank of England will not undo last week's interest rate cut before the end of the decade. City traders expect Bank governor Mark Carney to slash borrowing costs again before the end of the year, the
Read moreThursday broker round-up
14th Jul 2016 11:01
(ShareCast News) - Poundland: HSBC reiterates hold with a target price of 222p. Burberry: UBS keeps at buy with a 1650p target. Acacia: Jefferies reiterates buy with a 640p target. Genel: UBS stays at neutral with a 130p target. Asos: Goldman Sachs downgrades to neutral with a target price of 510
Read moreSteinhoff buys Poundland for £597m
13th Jul 2016 07:46
(ShareCast News) - South Africa's Steinhoff Holdings has reached an agreement with Poundland to buy the remaining shares in the London-listed discount retailer it does not already own for 222p per share in cash, valuing it at £597m. The offer price represents a premium of 39% to the closing price of
Read moreWednesday newspaper round-up: BoE bullying, pensions liabilities, Poudland, Rolls
13th Jul 2016 06:59
(ShareCast News) - Mark Carney may have bounced the Bank of England into an unnecessary interest rate cut by calling for stimulus only days after the Brexit result, leading economists have warned in a fierce attack on the governor. Former Bank policymakers and other senior economists said that Mr Ca
Read moreLiberum downgrades Pets at Home, upgrades Supergroup post Brexit
5th Jul 2016 09:15
(ShareCast News) - Liberum revisited its stance on UK general retailers on Tuesday in light of the more uncertain outlook following the vote to leave the European Union. The brokerage said it was more cautious on the generalists, given their UK exposure and in many cases high exposure to US dollar
Read morePoundland rejects Steinhoff approach
24th Jun 2016 12:03
(ShareCast News) - South-Africa based Steinhoff International said on Friday that London-listed discount retailer Poundland has rejected its proposal regarding a possible cash offer for the company. "The board of Steinhoff notes the full year results for the year ended 27 March 2016 released by Poun
Read moreBroker tips: Imperial Brands, Poundland, Astrazeneca
17th Jun 2016 12:06
(ShareCast News) - RBC Capital Markets upgraded Imperial Brands to 'sector perform' from 'underperform' and lifted the price target to 3,700p from 2,900p. The Canadian bank said Imperial's expected full-year 2017 dividend yield of 4.9% is the highest in its coverage and particularly attractive in th
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