Hints and tips:
...’s 1976 song of the same name, in which the singer yearns to return to the planet to escape Earth’s wars, tribulations and pollution (ignoring the fact that Saturn’s average surface temperature is -178°C)...
...P&G, the biggest consumer goods group in the US, has been shrinking its business by reducing its brands from 170 to 65 since 2015....
...Pierce, Esquire) The lessons of Kasich (Ross Douthat, NYT) Vanity will be the Donald’s undoing (Karl Rove, WSJ)...
...Michael Page shares fell 2.1 per cent to 371.2p, while Harvey Nash shares were 1.5 per cent weaker at 50½p....
...Seymour Pierce repeated “buy” advice with a 650p target....
...C&W Worldwide edged up 1.5 per cent to 26½p on optimism that Vodafone would make a takeover offer ahead of its deadline of March 12....
...Tracey Pierce, LSE Group head of primary markets, said: ”A London premium listing already provides the highest standards of regulation and corporate governance across Europe....
...F&C Asset Management edged up 3.1 per cent to 63p as Edward Bramson, the activist investor who took control of F&C in February, continued to add to his 20 per cent stake in the group....
...This implies FY14e OOI of c.£11.6bn, compared with Citi’s FY11e ‘underlying’ OOI of £8.8bn (adjusted to remove c.£800m of non-recurring items in 1Q11, ie the ECN option variance and losses on treasury asset...
...Ambac insures Punch’s debt securitisation vehicles and, if that protection disappeared, Punch might be forced to raise more equity, said Seymour Pierce analysts....
...C&W looked likely to be relegated to the mid-cap in this month’s FTSE index review, which will be decided on Tuesday’s closing prices. Invensys, Segro and Home Retail Group were also in the drop zone....
...Henderson Group rose 3.6 per cent to 132p and F&C Asset Management took on 1.5 per cent to 63½p ahead of results due this morning....
...Traders said the main problem with the results was that C&W had taken £137m of exceptional cash charges. Icap, the inter-dealer broker, was also under pressure....
...The company has been trying to sell its Lombard and F&C units since July. JâSainsbury lost 0.8 per cent to 362¼p....
...These include FP’s majority holding in F&C Asset Management, unchanged at 176½p. Marks and Spencer drifted 1.1 per cent to 393p on news the retailer had launched an “up to 50% off” sale....
...This is an extract from ‘River Café Pocket Books: Fish & Shellfish’ by Rose Gray and Ruth Rogers (Ebury, £8.99) FT Bookshop – To buy this book at £6.99 plus p&p, please contact the FT ordering service,...
...Cable & Wireless fell 2.3 per cent to 116¼p after Goldman Sachs cut its earnings forecasts for the telecoms company and Morgan Stanley placed 14m C&W shares at 117p....
...Analysts at Seymour Pierce downgraded the stock, saying they would revisit their position once management has completed a strategic review of the group....
...C&W has a substantial cash pile of £1.3bn, but traders thought C&W chief executive Francesco Caio was more interested in developing the Bulldog broadband service....
...Seymour Pierce said the figures were “solid” but with the shares having risen in advance of the numbers, reduced its recommendation from “buy” to “outperform”....
...C & W said capital investment on local loop unbundling was expected to reach £40-50m in the current financial year with an additional £15-35m required for the financial year to March 2006....
...Elsewhere among the mid-cap E&P stocks, Tullow Oil fell 1.8 per cent to 136.5p and Burren Energy lost 1 per cent at 450p....
...Anglo-American shed 1.8 per cent to £13.03, Antofagasta dropped 1.6 per cent to £11.40, BHP Billiton lost 2.2 per cent to 599.5p, Rio Tinto was off 1.8 per cent at £15.03 and Xstrata fell 3 per cent to 899½p....
...F & C Asset Management rose 2.7 per cent to 230p on the fund manager’s first day of dealings....
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