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Recent News

Monday 23 November, 2009

23-Nov-2009 01:41 PM

ICAP appoints new Chair of Audit Committee

ICAP, the world's leading interdealer broker, has appointed John Sievwright as Chairman of the Audit & Risk Committee. Mr Sievwright who became a non-executive director of ICAP in July 2009 replaces Nick Cosh who has retired after nine years in the role....
23-Nov-2009 01:36 PM

SpiriTel director quits

SpiriTel plc, the AIM-traded business communications services provider, has announced that Anthony Vose, a non-executive director, has stood down from the Board to pursue other interests. Mr Vose was the founder of Ashland Telephones Group which was acqu...
23-Nov-2009 01:31 PM

Energy XXI extends Gulf of Mexico interests

AIM-listed Energy XXI has acquired certain Gulf of Mexico shelf-oil and natural gas interests from MitEnergy Upstream LLC, a subsidiary of Mitsui & Co. for a headline cash consideration of $283m. The transaction involves mirror-image non-operated interes...
23-Nov-2009 01:30 PM

Market Movers - Top risers and fallers between 12:00 and 13:00

Overall Market RED LEOPARD ORD 0.2P 0.30 33.33% ASIA RESOURCES ORD 1P 4.13 17.86% CHINA FOOD CO. ORD 4P 27.00 8.00% RAYMARINE ORD 1P 6.68 ...
23-Nov-2009 01:23 PM

Steve Breach goes Tribal

Tribal Group, the leading supplier of consultancy to public services, has appointed Steve Breach as Group Finance Director. Steve joins on 1 January 2010 and replaces Simon Lawton. He arrives from Euromedic, a leading health services business, where he i...
23-Nov-2009 01:21 PM

Phoenix IT upgraded to buy from add at Numis, target price raised to 280p from 250p

Numis analyst Will Wallis says he has increased confidence in Phoenix IT following the group's interims. There are clear signs of revenue growth returning, including a large contract announced today, growth in ACV in Q2, and a growing sales pipeline. ...
23-Nov-2009 01:17 PM

Alternate director at Rusina Mining

AIM-quoted Rusina Mining NL has appointed Mark Hanlon as alternate director to Antony Butler, effective as of 20 November 2009. Mr Hanlon has been with Rusina since 2006 and is currently Chief Financial Officer and Company Secretary. Story provided ...
23-Nov-2009 01:13 PM

Medic Vision to acquire cBox

Medic Vision, the AIM-listed medical training technology company, has completed its due diligence in connection with the acquisition of cBox Pty Ltd, the digital marketing and communications company. It is proposed that Medic Vision issue 45m fully paid ...
23-Nov-2009 01:03 PM

Lord Condon joins G4S Audit Committee

GS4 plc, the international security solutions provider, has announced that Lord Condon, the deputy chairman of the board, and a senior independent director. will join the company's Audit Committee. Condon is a former Commissioner of the Metropolitan Poli...
23-Nov-2009 01:02 PM

SABMiller upgraded to buy from sell at Evolution, target price 1850p

Following a strong first half, Evolution upgrades its full-year EPS forecast for SABMiller by 9% and for 2011 by 7%. The management is characteristically cautious on second-half prospects, says Evolution, pointing to further weakness in consumer spend...
23-Nov-2009 01:00 PM

Market Movers - Top risers and fallers at 13:00

FTSE 100 EURASIAN ORD USD0.20 895.00 4.43% FRESNILLO ORD USD0.50 912.00 4.17% ICAP ORD 10P 437.60 4.17% LONMIN ORD SHS USD1 1761.00 ...
23-Nov-2009 12:35 PM

Euromoney lifted to buy from hold at KBC Peel Hunt, target price 500p

Undue caution in the past has been shown to be misplaced, says KBC, and Euromoney's profits should advance this year. The final results were outstanding, with PBT 10.5% above the minimum indicated in the pre-close. The current year has started weakly bu...
23-Nov-2009 12:30 PM

Market Movers - Top risers and fallers between 11:00 and 12:00

Overall Market RED LEOPARD ORD 0.2P 0.28 26.67% RAYMARINE ORD 1P 7.00 9.38% BLACKS LEIS. ORD 50P 33.50 7.20% PHYSIOMICS ORD 0.04P 1.26 ...
23-Nov-2009 12:21 PM

Peter Hargreaves steps down from ITM chair

ITM Power non-executive chairman Peter Hargreaves has stood down, to be replaced by Roger Putnam. He remains an NED. The move is part of a planned restructuring of the board. Donald Highgate has retired as director of research. Simon Bourne joins the bo...
23-Nov-2009 12:16 PM

West African Diamonds expects February relisting

West African Diamonds says its planned merger with Stellar Diamonds is proceeding well and a relisting of the enlarged entity is planned for early February 2010. At today's AGM, chairman John Teeling said the merger 'will create a bigger diamond produc...
23-Nov-2009 12:12 PM

Old Mutual acquisition of Mutual & Federal gets approval

Old Mutual's offer for the remaining shares in Mutual & Federal Insurance has been approved by shareholders. Group chief executive Julian Roberts said, 'We are delighted that the Mutual & Federal shareholders have overwhelmingly voted to accept our off...
23-Nov-2009 12:00 PM

Market Movers - Top risers and fallers at 12:00

FTSE 100 EURASIAN ORD USD0.20 898.50 4.84% FRESNILLO ORD USD0.50 914.50 4.45% RANDGOLD RES. ORD $0.05 5170.00 4.44% LONMIN ORD SHS USD1 1768.00 ...
23-Nov-2009 12:00 PM

Economic Events - Month Ahead Events

Economic Events 24/11/2009 15.00 US Consumer Confidence 24/11/2009 10.00 EU Industrial New Orders m/m 24/11/2009 12.45 US ICSC Chain store sales 24/11/2009 13.30 US Prelim GDP q/q 24/11/2009 13.55 US Redbook 25/11/2009 09.30 UK GDP 25/11/200...
23-Nov-2009 12:00 PM

Economic Events - This Week's Events

Economic Events 24/11/2009 15.00 US Consumer Confidence 24/11/2009 10.00 EU Industrial New Orders m/m 24/11/2009 12.45 US ICSC Chain store sales 24/11/2009 13.30 US Prelim GDP q/q 24/11/2009 13.55 US Redbook 25/11/2009 09.30 UK GDP 25/11/200...
23-Nov-2009 12:00 PM

Economic Events - Tomorrow's Events

Economic Events 24/11/2009 15.00 US Consumer Confidence 24/11/2009 10.00 EU Industrial New Orders m/m 24/11/2009 12.45 US ICSC Chain store sales 24/11/2009 13.30 US Prelim GDP q/q 24/11/2009 13.55 US Redbook For more Economic Events, visi...
23-Nov-2009 11:59 AM

Broker News

Sainsbury was downgraded to neutral from overweight at JP Morgan, target price cut to 350p from 380p, while Morrison was downgraded to reduce from add at Natixis. Marks & Spencer raised to hold from sell at Execution. Berkeley Group upgraded to outperfo...
23-Nov-2009 11:59 AM

Broker News

Sainsbury has been downgraded to neutral from overweight at JP Morgan, with the target price cut to 350p from 380p, while Morrison was downgraded to reduce from add at Natixis. Marks & Spencer raised to hold from sell at Execution. Berkeley Group upgrad...
23-Nov-2009 11:48 AM

Good SATs means higher house prices

Nationwide Building Society said today that high performing primary schools are adding value to UK property prices. High performing primary schools add value to property prices across all regions, Nationwide says. 10% higher SATs attainment equates to a...
23-Nov-2009 11:44 AM

MPH Ventures happy with Ontario projects

MPH Ventures has completed drilling on the Raney gold project in Ontario. The company's president Jim Pettit said it was happy with progress on Raney and on the Godfrey Gold project, also in Ontario. It looked forward to a continued winter program ...
23-Nov-2009 11:34 AM

Inmarsat buys Segovia, Inc

Inmarsat has acquired Segovia, Inc., a Virginia-based provider of secure internet protocol managed solutions and services to the US military and government agencies. The satellite communications services group will pay an initial $110m plus performan...