FTSE 250 movers: Rank rises on acquisition
14th May 2012 15:00
Bingo, casino and online gaming company Rank Group has made a conditional agreement to acquire Gala Casinos from Gala Coral Group, making it the largest casino operator in the UK. The £205m acquisition, which includes 23 casinos in the UK, is to be funded by new three-year bank facilities totalling
Read moreLondon open: Stocks sink on Greek exit speculation
14th May 2012 08:33
- Political uncertainty in Greece, Germany weighs on sentiment - Officials consider Greek euro exit - Banks, miners drag on the FTSE 100 European equity markets were a sea of red on Monday morning as continuing concerns over the political situation in Greece fuelled a sell-off early on. The Footsie
Read moreRank to become top dog with purchase of Gala Casinos
14th May 2012 07:44
Bingo, casino and online gaming company Rank Group has made a conditional agreement to acquire Gala Casinos from Gala Coral Group, making it the largest casino operator in the UK. The £205m acquisition, which includes 23 casinos in the UK, is to be funded by new three-year bank facilities totalli
Read moreGrowth rate picks up at Rank
10th May 2012 09:13
Like-for-like (LFL) revenue growth has picked up in recent weeks at bingo, casino and online gaming company Rank Group. The group announced a 5% LFL revenue growth rate for the 18 weeks to May 6th, with total revenue up 4%, boosted by Grosvenor Casinos and Rank Interactive. That represents an acce
Read moreThursday newspaper round-up: Greece, Aviva, Rank Group
10th May 2012 07:28
Germany has threatened to halt vital financial aid to Greece unless a new government commits to the terms of the country's bail-out agreements. Ministers in Berlin warned that they would withhold international aid to Greece in a move which could trigger a fresh, damaging countdown to default in Athe
Read moreThursday preview: Small chance of more QE
9th May 2012 16:49
The Bank of England's Monetary Policy Committee (MPC) is widely expected to leave its interest rates and asset purchase policies unchanged on Thursday. While it is generally accepted that, despite the difficulty the UK is having stuffing the inflation genie back into the bottle, the MPC will not wa
Read moreRank ends talks with Gala Coral
29th Mar 2012 08:15
Bingo, casino and online gaming company Rank Group has ended discussions with Gala Coral Group about a potential acquisition of Gala's casino business. Rank said the talks have ended after it "became clear that the proposed terms of the acquisition would not serve the best interests of Rank's sha
Read moreFTSE 250 Movers: SVG leaps on NAV rise
9th Feb 2012 13:03
SVG Capital, the private equity investor which owns Hugo Boss and Birds Eye frozen food firm Iglo, was wanted after seeing a sharp rise in its net asset value (NAV). The 10.9% upward movement in NAV has been driven by a significant increase in the valuation of Hugo Boss, which rose £96.1m between
Read moreThursday broker round-up - UPDATE
9th Feb 2012 09:16
Homeserve: Credit Suisse raises target price to 275p from 250p, stays at neutral. Reckitt Benckiser: Credit Suisse reiterates outperform. BHP Billiton: Credit Suisse retains outperform. Tate & Lyle: Panmure Gordon raises target from 645p to 690p, hold rating kept; JP Morgan reiterates underweigh
Read moreRank gets right result in its casinos
9th Feb 2012 07:46
Rank, the bingo, casino and online gaming company controlled by Hong Kong investment firm Guoco Group, has reduced its dividend and seen a significant decline in revenue at its operations in Spain, but the casino business is coming up trumps. The company's results for the six months to the end of D
Read moreMonday broker round-up - UPDATE
6th Feb 2012 09:12
Supergroup: Oriel Securities upgrades to buy from hold. Glencore: Jefferies ups target from 525p to 575p, confirms buy rating; Credit Suisse maintains outperform rating and 550p target. Royal Dutch Shell: Credit Suisse downgrades from outperform to neutral, cuts target from 2,750p to 2,600p. Xst
Read moreLondon close: Euro worries drag Footsie down 1.1%
30th Jan 2012 17:13
Just nine stocks in the FTSE 100 finished above water on Monday as the Eurozone crisis weighed heavily on sentiment. With the borrowing rate of Portuguese debt surging, Greek talks still unresolved and an EU summit taking place, a risk-off attitude swept across the market today with resource stocks
Read moreFTSE 250 movers: BTG on the up after trial success
30th Jan 2012 13:35
Healthcare firm BTG was on the up after successfully completing the first phase of the US-based trial of Varisolve, a varicose vein treatment. Casinos group Rank was also higher after confirming speculation that it is in talks with Gala Coral about the potential acquisition of Gala's casino busine
Read moreLondon open: Banks weigh on Footsie lower early on
30th Jan 2012 08:18
The FTSE 100 slipped towards the 5,700 level in early trade, with the banks providing a drag as investors digested the downgrade of five Eurozone nations and the ongoing talks in Greece. Fitch announced late on Friday to downgrade the ratings of five Eurozone nations - Italy, Spain, Belgium, Cyprus
Read moreRank in talks to buy Gala's casinos
30th Jan 2012 07:35
Casinos group Rank has confirmed speculation that it is in talks with Gala Coral about the potential acquisition of Gala's casino business. Gala Casinos is the third largest casinos business in the UK and has a market share of around 17%. Press reports estimate that the acquisition could be worth u
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