Hardy rejects new offer from Beazley
15th Nov 2010 07:32
Underwriter Beazley has again been rejected by rival Hardy despite upping its indicative takeover offer by 10% to 330p. Beazley said the board of Hardy would not recommend an offer of 330p per share and would not even be prepared to meet to discuss it. A previous offer of 300p per share got similar
Read moreTuesday tips round-up: Standard Chartered, SABMiller, Hardy...
19th Oct 2010 06:41
Is Standard Chartered the world's best bank? It has been said in some quarters, and quite seriously. StanChart has grown profits year on year and, while it didn't exactly laugh in the face of the financial crisis, it sailed through it more smoothly than virtually any other Western bank. On 15 times
Read moreLondon close: Footsie rallies after shaky start
18th Oct 2010 16:48
After a sluggish start to the day, shares closed with good gains following a lively start on Wall Street. Better than expected profits on the back of a decline in provisions for bad loans at Citigroup sparked buying interest. Mining giants BHP Billiton and Rio Tinto have confirmed that their propo
Read moreFTSE 250 movers: M&A activity stirs up excitement
18th Oct 2010 15:39
Shares in Bluebay Asset Management are flying after it agreed an all cash takeover by Canadian bank Royal Bank of Canada (RBC) that values the fixed income fund manager at just short of £1bn. BlueBay shareholders will receive 485p in cash for each BlueBay Share, valuing the firm at approximately £
Read moreLondon afternoon: Equities push on
18th Oct 2010 14:54
Leading shares added to the morning's gains over the lunch time session though miners remain under a cloud as metal prices retreat. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in D
Read moreBroker tips: Hardy, TV companies, Vertu Motors
18th Oct 2010 13:27
KBC Peel Hunt expects a strong rebound in the UK television advertising market, and so has initiated coverage of ITV, stv and UTV Media with "buy" ratings for each. The broker's positive stance in the sub-sector is underwritten by the improving trading conditions, although it sees Britain's ITV and
Read moreBroker snap: Beazley offer undervalues Hardy
18th Oct 2010 13:17
Back on 21 September FinnCap identified Hardy Underwriting as a potential takeover candidate in the wake of the buy-out of insurer Brit Insurer by private equity, and its prediction has been vindicated by news that Hardy recently rejected 300p per share offer from the insurance group Beazley. FinnC
Read moreLondon midday: HSBC says get out of copper producers
18th Oct 2010 11:26
The blue-chip index ended the morning barely changed which, given that virtually all of the mining stocks were lower, counts as some sort of moral victory. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The c
Read moreLondon open: Weak start despite M&A burst
18th Oct 2010 08:58
London has made a cautious start to the day with miners weak though a burst of M&A has lifted the mood elsewhere. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in December of last ye
Read moreLondon pre-open: Heading south
18th Oct 2010 07:35
It's looking like a downbeat start to the week following Friday's losses on Wall Street and a far from certain performance in Asia. Investors - facing a 20-point drop for the FTSE 100 first thing - also have a crop of UK news to consider. Mining giants BHP Billiton and Rio Tinto have confirmed th
Read moreHardy rejects Beazley approach
18th Oct 2010 07:17
Specialist insurer and reinsurer Beazley has gone public with its bid approach for underwriter Hardy Underwriting after its private approach was rejected by the Hardy board. Beazley made an indicative cash offer of 300p per share to the Hardy board on 6 October but received a rejection letter on 11
Read moreBroker tips: ICAP, Ocado, Lloyd's insurers
1st Sep 2010 13:15
Inter-dealer broker ICAP is set to launch a new electronic platform for euro interest rate swaps (IRS) on 6 September, which suggests to ICAP fan Panmure Gordon that dealers are warming to the faceless alternative to telephonic transactions. "Significantly, the initiative has the liquidity support
Read moreBroker snap: Lloyd's syndicates watching 'hurricane Earl'
1st Sep 2010 11:49
Hurricane season is underway and a 120 miles per hour category four hurricane, 'hurricane Earl', could hit land in North America later this year. For once, it looks as if the Gulf of Mexico will not be affected but a number of Lloyd's syndicates will be monitoring its progress for fear it will hit t
Read moreUK SMALLCAP ROUNDUP: Sirius Exploration's FY10 Loss Widens
23rd Jul 2010 16:00
Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps SIRIUS EXPLORATION PLC (SXX.LN), a mining and exploration holding company focused on potash and salt deposits in North America and Australia, Friday post
Read moreUK SMALLCAP ROUNDUP: HMV Refinances GBP240M Facility
23rd Jul 2010 12:30
Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps HMV GROUP PLC (HMV.LN), a U.K. entertainment retailer, said Friday it has completed the refinancing of its GBP240 million revolving credit facility with
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