Tuesday tips round-up: Kewill, Reckitt Benckiser, Brixton
23rd Jun 2009 06:43
Any punt on logistics software group Kewill would be risky, but given the discount to brokers' estimates of fair value, and the fact that the company increased its dividend as part of yesterday's full year results, the Independent could be tempted. There are also some tasty new contracts to disclo
Read moreLondon close: Further losses after World Bank cuts forecast
22nd Jun 2009 16:55
Having endured a dull morning London's leading stocks pitched further into the red in the afternoon session after the World Bank cut its 2009 global growth forecast. British Airways was the biggest faller on arch rival Richard Branson's comments that it should be allowed to go bust if its financia
Read moreLondon afternoon: BA runs into turbulence
22nd Jun 2009 14:52
The Dow Jones has opened with a triple digit fall prompting a further softening of prices on this side of the pond. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and fin
Read moreLondon midday: Footsie struggles despite M&A burst
22nd Jun 2009 12:22
Footsie is struggling despite the possibility of a mega mining merger between Anglo American and Xstrata. Anglo shares have shot forward on the confirmation of an approach from Xstrata. In a statement, Xstrata said a merger was "highly compelling" and would provide "enhanced scale and financial fle
Read moreFTSE 250 movers: Yell slumps on covenant issues
22nd Jun 2009 12:05
Shares in Yellow Pages publisher Yell slumped after it warned that it may may need to renegotiate its bank covenants. "As a consequence of increasingly uncertain trading conditions, there is a risk that the group might need to reset its financial covenants with its lenders to avoid a breach of tho
Read moreLondon open: Lower despite rush of bid activity
22nd Jun 2009 08:31
Footsie has opened lower despite a rush of possible mergers and takeovers including a £41bn mining tie-up. Swiss-based mining giant Xstrata has confirmed an approach to rival Anglo American over a possible merger, but so far has received a lukewarm response from the London-based, but South African
Read moreLondon pre-open: M&A in focus
22nd Jun 2009 07:37
Footsie is expected to open largely flat with investors mulling M&A activity among the blue chips. Swiss-based mining giant Xstrata has confirmed an approach to rival Anglo American over a possible merger, but so far has received a lukewarm response from the London-based, but South African dominat
Read moreSegro agrees possible terms with Brixton
22nd Jun 2009 07:13
Property group Segro has reached agreement with Brixton on the financial terms of a possible recommended all-share offer, which could be accompanied by the issue of new shares to raise up to £250m. The possible offer for each Brixton share is 1.750 Segro shares. Segro said it currently envisages
Read moreSunday newspaper round-up: Xstrata/Anglo American, Brixton, Goldman Sachs
21st Jun 2009 09:27
Mining giant Xstrata has approached arch-rival Anglo American about a £41bn merger that would create one of the world's biggest natural-resources companies. Mick Davis, chief executive of Xstrata, is understood to have written to the board of Anglo last week to propose discussions about a deal aft
Read moreSunday newspaper round-up: Land Securities, Brixton Estates, Lloyds
24th May 2009 09:22
The chief executive of Land Securities, Francis Salway, has been given six months to come up with a radical business plan for the FTSE 100 property giant - or face being sacked. Alison Carnwath, the new chairwoman, has laid down the gauntlet after a set of shocking results this month, which saw th
Read moreLondon afternoon: Equities continue upward drift
22nd May 2009 14:08
The market remains in credit after yesterday's shake-out and while it is by no means a convincing rally, driven as it is largely by the strength of mining stocks, the hesitancy is probably dictated by the unwillingness of traders to carry large positions over the long week-end. Having been talked d
Read moreSegro confirms bid approach to Brixton
22nd May 2009 12:13
Property group Segro, formerly Slough Estates, has approached Brixton regarding a possible all-share offer. Earlier, Brixton said it is in discussions with 'a small number of parties' after receiving approaches about a possible bid for the business. The company, which specialises in industrial, w
Read moreLondon midday: Miners keep Footsie ahead
22nd May 2009 12:05
Footsie has made progress helped by a Goldman Sachs upgrade of mining stocks though buyers in other areas are thin on the ground ahead of the bank holiday weekend. Goldman Sachs foresees capacity restraints affecting iron ore and copper production by 2011. 'In contrast, nickel and aluminium do not
Read more