Bank shares were smashed again today as investors lost confidence in the face of long term low interest rates February 9, 2016 It’s been another day of carnage for European banks, as share prices continue to slide beyond lows recorded even at the height of the global financial crisis. The biggest loser in the UK was emerging market focused bank Standard Chartered, with shares finishing down by 5.5 per cent. Close behind was Barclays with shares ending down by [...]
Viacom’s share price plunges after lacklustre quarterly results update February 9, 2016 Viacom, the US entertainment company that owns movie studio Paramount, today posted quarterly results that were more D-list than A-list. The NASDAQ-quoted firm, which also owns MTV and Nickelodeon, unveiled a six per cent drop in revenues to $3.15bn (£2.19bn) for the three months to 31 December 2015, which it blamed on a decline in [...]
Anglo American share price falls after its Kumba iron ore division posts lower profit February 9, 2016 Shares in Anglo American fell as much as fell as low as 10.4 per cent to 337p today, after profits fell at its Kumba iron ore arm. Kumba, which is 70 per cent owned by Anglo, reported headline earnings fell 66 per cent to 11.82 rand per share in the year ended December 31st. Meanwhile, total [...]
Ryanair is pushing further into Europe with a base in Germany as it demand takes off February 9, 2016 Budget Irish airline Ryanair is expanding further into Europe with a base at Nuremberg Airport in Germany, scheduled to open Winter 2016. The airline is planning to open up new routes around Europe from Nuremberg as well as increased flights to and from London. One of the new routes will be a daily service to [...]
Japanese bond yields turn negative as its stock market plummets February 9, 2016 The yield on Japanese 10-year bonds, the benchmark of government borrowing, dropped to below zero for the first time this morning. Bond yields fall as prices rise, meaning that now yields of Japanese bonds are negative, investors are paying the bank to hold onto their money. Once the bonds mature after 10 years investors could only [...]
Antofagasta, Anglo American, Glencore share price: UK FTSE miners’ rally comes to abrupt end February 9, 2016 While mining stocks have sizzled recently, their rally came to an abrupt end today, in the wake of disappointing corporate news regarding two of the biggest firms. Antofagasta tumbled to the bottom of the FTSE 100, shedding as much as 10.2 per cent to 407.2p per share, after Goldman Sachs cut its rating on the stock to "sell". Meanwhile, [...]
ThinkingPhones rebrands as Fuze and closes $112m in funding to power European expansion February 9, 2016 US-based communications provider ThinkingPhones is no more. The startup has rebranded as Fuze and close $112m (£77.6m) in new funding for a global expansion. The funding round, led by growth equity investor summit partners, will power the firm’s growth in Europe particularly. Total funding now stands at $200m. Fuze has already grown quickly in Europe, [...]
Coca-Cola’s latest results fail to fizz up the market February 9, 2016 Fizzy drinks giant Coca-Cola unveiled mixed fourth-quarter results today, with a rather bitter eight per cent decline in sales but an effervescent 61 per cent increase in profits. The NYSE-listed company's share price edged up 0.5 per cent higher to $42.65 following the results announcement. Coca-Cola, which owns the eponymous drink that is arguably the [...]
Legal & General buys Marston’s headquarters and pubs for £35m February 9, 2016 Legal and General has snapped up Marston's headquarters as well as a portfolio of pubs for £34.6m, in another example of buoyant M&A activity in the sector. The pension fund manager said its property arm LGP has completed a sale and leaseback of seven Marston's pubs for £25.32m, reflecting a net initial yield of 4.15 per cent. Read more: Pubs [...]
Ascential floats on the London market at 200p per share, giving welcome relief to Guardian Media Group February 9, 2016 Ascential, the magazine and events business that runs the Cannes Lions advertising festival and publishes Retail Week, has floated on the London market at 200p a share. The valuation gives the company, which is owned by Guardian Media Group a and private equity group Apax, a market cap of around £800m. They remain the largest [...]