FTSE 100 movers: Severn Trent jumps after LongRiver ups offer
7th Jun 2013 15:33
Severn Trent surged this afternoon after the LongRiver consortium upped its cash offer for the water provider following the rejection of an earlier proposal by the group earlier this week. The consortium has offered 2,200p per Severn Trent share, including the 45.51p dividend announced in May, whi
Read moreConsortium increases offer for Severn Trent
7th Jun 2013 14:25
Water utility Severn Trent has received details of an improved cash offer from the LongRiver consortium. The consortium has offered 2,200p per Severn Trent share, including the 45.51p dividend announced in May, which values the group at £5.3bn at a fully diluted basis. This compares to a revised
Read moreFriday tips round-up: Severn Trent, Johnson Matthey, Alliance Pharma
7th Jun 2013 07:00
Severn Trent is one of a dwindling group of remaining publicly listed water companies. For The Times´s Tempus the bidding for the water firm is not yet over. While the newspaper column does not think that its suitors will pay the 23 pounds which some institutional investors expect, it does expect a
Read moreWednesday broker round-up UPDATE
5th Jun 2013 09:34
Aberdeen Asset Mangement: UBS cuts target price from 520p to 505p, while maintaining its buy recommendation. Alternative Networks: Investec revises target price from 350p to 390p keeping a buy recommendation. API Group: Numis upgrades to add with a target price of 75p. Ashmore Group: UBS lowers t
Read moreSevern Trent brushes off sweetened offer from LongRiver Partners - UPDATE
3rd Jun 2013 14:23
Five billion pounds just isn't good enough, according to water and sewerage group Severn Trent which on Monday rejected an improved offer from foreign investors. The firm last month brushed off an initial, unspecified bid approach from LongRiver Partners - comprising of Canadian infrastructure inve
Read moreSunday newspaper round-up: Co-op, home prices, copper
2nd Jun 2013 18:42
The Co-operative is weighing measures designed to bolster the capital levels at its banking subsidiary which may impose losses on the unit's junior bondholders. The deficit in regulatory capital at its banking division has been estimated by Barclays analysts at between 800m pounds and 1.8bn pounds.
Read moreSector movers: Utilities rebound after recent sell-off
31st May 2013 13:34
Utility stocks were making gains on Friday afternoon as they attempted to rebound following their recent falls. After an impressive rise so far this year, high-yielding utility stocks have been under pressure over the past week. While this could simply be a result of profit-taking, some analysts ha
Read moreLondon midday: FTSE 100 down one per cent as volatility continues
31st May 2013 11:26
The volatile trade seen over the past week continued on Friday with investors turning nervous ahead of another raft of economic indicators from the US later on. "European markets have taken a leg lower this morning as traders look to scale back risk heading into the month's end, with the central ba
Read moreLondon open: Markets down as traders await economic data
31st May 2013 08:21
Stocks sank sharply on Friday morning, continuing the volatile pattern seen over the past week, as traders cautiously awaited more economic figures from the States. Stocks gained slightly yesterday as a worse-than-expected second reading of US gross domestic product growth and a rise in jobless cla
Read moreLondon midday: Miners buoy markets ahead of US GDP
30th May 2013 11:21
The FTSE 100 was making meagre gains on Thursday morning as sentiment remained fragile following the sell-off the day before, with investors taking caution ahead of some key economic indicators. Global economic concerns sent London's top-tier index down 2.0% on Wednesday after the OECD slashed its
Read moreLondon open: Stocks rise after heavy sell-off
30th May 2013 08:27
Markets opened slightly higher on Thursday morning after falling to a two-week low the day before as concerns about the global economy continue to unnerve investors. The FTSE 100 slumped 2.0% on Wednesday after the OECD slashed its global growth estimates and the International Monetary Fund reduced
Read moreLondon pre-open: FTSE 100 seen lower ahead of busy day
30th May 2013 07:44
The FTSE 100 is expected to open moderately lower again on Thursday following a steep sell-off the day before, as concerns about the global economy continue to weigh on sentiment ahead of a busy day for financial markets worldwide. City sources predict the FTSE 100 will open down 23 points from ye
Read moreSevern Trent lifts pre-tax profit, dividend
30th May 2013 07:09
Utilities giant Severn Trent revealed increased pre-tax profit for the full financial year, lifted its dividend by over eight per cent and said it remains committed to its dividend growth policy until March 2015. The group, which rejected a bid approach earlier this month from a consortium of forei
Read moreSunday newspaper round-up: ENRC, Severn Trent, Enterprise Inns
26th May 2013 16:50
The largest investor in ENRC has fallen in behind a 3.3bn pound takeover bid for the beleaguered FTSE 100 miner, all but ensuring its success despite protests from independent directors. Kazakhmys, a rival resources group with operations in Kazakhstan, has signalled privately that it will vote its 2
Read moreLondon close: Stocks off again, Yen keeps strengthening
24th May 2013 16:15
London equities finished lower for a second straight day, with investors being put off by the recent gyrations in the market, although the early close of some US markets ahead of the Memorial Day weekend may also have played a role. Market commentary is a tad divided regarding the direction which
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