Sanne share price rises 10 per cent on its first day of trading after IPO April 1, 2015 Shares in corporate administration provider Sanne Group surged on their debut yesterday, opening at 221p per share, a 10 per cent premium on its listing price. The company raised £142m when it floated last Friday in a move which valued the company at £232m. Previous majority holder Inflexion Private Equity said the initial public offer [...]
Shawbrook share price picks up after successful stock market flotation April 1, 2015 Challenger bank Shawbrook enjoyed a successful stock market debut yesterday, as its share price rose by as much as 6.5 per cent. The lender joined rivals, including Virgin Money and Aldermore among recent floats in the sector. Shawbrook’s shares priced at 290p, but rose as high as 308.75p in trading, before settling back to 302.5 [...]
Quindell admits it got its sums wrong on Slater & Gordon deal to the tune of £13.5m following share suspension April 1, 2015 The mystery of this morning's decision to suspend trading in Quindell shares has been solved, after the troubled insurance claims processor admitted it had understated the amount its professional services division contributed to the company, to the tune of £13.5m. Shares were restored this afternoon after the company posted a statement several hours after its [...]
Controversial Grangemouth bosses Jim Ratcliffe and Calum MacLean fall out after 16 years of building an empire together at Ineos April 1, 2015 Billionaire industrialist and Ineos chairman Jim Ratcliffe is to sue his former lieutenant Calum MacLean in a multi-million pound dispute, Morning Wire understands. The row is centred on claims that Ratcliffe’s former close colleague of 16 years poached one of his finance directors. The ground is set for a bitter legal battle between the [...]
UK productivity: Fourth quarter of 2014 worsened and absence of growth is “unprecedented” April 1, 2015 The UK's productivity fell at the end of last year leaving rates of growth at "unprecedented levels" not seen since the end of the Second World War. Productivity fell 0.2 per cent in the last quarter of 2014 compared to the previous quarter, leaving annual growth at 0.3 per cent for the year. It left output [...]
UK manufacturing PMI hits eight-month high in April’s Markit survey April 1, 2015 The UK's manufacturing sector grew at its fastest rate in eight months in March, in what could prove another boost to the Conservatives' economic record heading into May's General Election. Markit's Purchasing Managers Index (PMI) came in at 54.4 in March, up on February's 54.1 and its highest since July last year. The boost came [...]
Quindell suspends trading in its shares on Aim April 1, 2015 Quindell has suspended trading in its shares on Aim "pending an announcement", it said today. The London Stock Exchange issued a notice saying it had taken the decision to cancel 126 trades made between 9.40am and 9.42am, equating to a volume of 403,512. UPDATE: Quindell shares resume trading, mystery of share suspension is solved Shares [...]
Challenger bank Shawbrook prices shares at top of range on IPO April 1, 2015 Challenger bank Shawbrook may be late to the IPO party, but that hasn't prevented it from getting its flotation off to a running start, after it priced shares at 290p each, near the top of its range of 255p-305p on its first day of conditional trading. The pricing valued the bank at £725m, raising £90m [...]
FirstGroup gets back on track with UK bus and rail transformation plan April 1, 2015 FirstGroup has faced a difficult couple of years, but its focus on transforming UK bus and rail operations is starting to pay off. The figures In a trading update posted today, the train and bus operator said it expects full-year growth across all its UK offerings, in line with expectations. It said it had [...]
Asos UK sales soar but half year profit is cut by 10pc April 1, 2015 Asos' share price soared more than six per cent this morning after releasing a bullish statement for the rest of the year. The figures Asos has reported a rise in group revenue for the first half to 28 February, with group sales climbing. 14 per cent. UK retail sales soared 27 per cent but profit before [...]