Drug makers pop after Pfizer deal sinks, taking FTSE 100 up for the day April 6, 2016 A last-hour surge saved the FTSE 100 from another unspectacular day, as the afternoon rally helped the blue chip index climb up 1.2 per cent to close the day on 6,161, and a surprise fall in US oil stocks put some energy into oil prices which also gained handsomely. It wasn’t quite a green sweep [...]
Premier Foods to meet with shareholders after holding “constructive talks” McCormick April 6, 2016 Premier Foods said it is to meet with shareholders this week after holding "constructive talks" with McCormick, as the Mr Kipling cakes owner seeks to convince its American suitor to sweeten its offer. The company, which has so far rebuffed three bid approaches from McCormick, has released a presentation ahead of its meeting with institutional [...]
Housing associations in £30bn mega-merger talks to build 100,000 London homes April 6, 2016 Three of the UK’s biggest housing associations are in talks to merger, with the view to build 100,000 new homes across London and the south east over the next decade. L&Q, The Hyde Group and East Thames said the proposed move will turn them into one of the country’s top four largest housebuilders with a [...]
Russia reveals more details about potential freeze deal April 6, 2016 Russia has revealed more details about a potential freeze deal between Opec and non-Opec producers that could come out of a meeting in Doha. Sources told Reuters that Russia believes an oil price at $45-$50 per barrel is acceptable to allow the global oil market to balance. It also expects a production freeze deal to accelerate this process by [...]
Glencore share price falls after sale of agriculture stake disappoints April 6, 2016 Glencore shares fell today, after investors were left disappointed by the commodities miner and trader's sale of a minority stake its agriculture arm to Canada's largest pension fund. Glencore today confirmed it had sold a 40 per cent stake in its agriculture division to the Canada Pension Plan Investment Board (CPPIB) for $2.5bn (£1.8bn). The Swiss group's shares had popped at the [...]
UK house prices: Prime central London rents are polarising between east and west, says Knight Frank April 6, 2016 London's prime rental market is becoming more polarised. Prices in the east are accelerating faster than those in the west as financial services tenants move closer to the City in search of cheaper rents, new research shows. Annual rental value growth in prime central London fell by one per cent in March – the lowest rate since May 2014, according to [...]
Petroceltic share price dives as Worldview appears set to win long-running feud April 6, 2016 Activist investor Worldview Capital appears to have won its long-running feud with Irish oil explorer Petroceltic. Worldview, Petroceltic's largest shareholder with 29.6 percent, has made repeated overtures over the last 18 months for changes to the board and the strategic direction of the group. Read more: Petroceltic and Worldview lock horns again and urge shareholders to [...]
Moody’s: This chart shows European banks’ energy exposure April 6, 2016 Credit ratings agency Moody's has said that European banks' energy exposure is "manageable" despite low commodity prices. But it added that some cases could require additional provisions if oil prices remain "low for longer". Brent crude has fallen from over $110 per barrel in June 2014 to around $40 today. This has heaped pressure on to [...]
MartinCo plays down fears of buy-to-let slowdown as profits jump April 5, 2016 Shares in MartinCo rose by nearly four per cent today after the franchised lettings agency group said demand from a growing nation of renters helped to boost full-year sales and profits. The Aim-listed company, which has 287 offices operating under five brands including Martin & Co, Xperience, and Parkers, said group revenue increased by 38 per cent to £7.1m in 2015 compared [...]
Stock Spirits faces shareholder showdown as top investor calls for chief executive to quit April 5, 2016 Stock Spirits Group is facing showdown with shareholders after one of its biggest investors called for the vodka maker to oust its chief executive and nominated two non-executive directors to help turn around its core Polish business. Western Gate Private Investments, which has a 9.7 per cent stake in Stock Spirits, represents the private family [...]