Tips from the press
Welcome to our summary of the weekend's quality press tips, provided on Mondays by Weekend City Press Review.
Tempus: Martin Waller believes major mining shares, hit by falling prices and rising costs, may be 'bumping along the bottom' for some time.
No Gain, No Pain: Derek Pain says speculation of a £24 a share bid for
The Daily Mail
Investment Extra: Martin Gilbert, CEO of
The Sunday Times
Inside the City: Danny Fortson thinks
The Horizon Acquisitions deal for
The Sunday Telegraph
Questor: Garry White says hold
The Mail on Sunday
Midas: Joanne Hart says buy
Updates: Take some profits at
Taking Stock: David Shand thinks the imminent appointment of ex-Volvo head Leif Jihansson as chairman-designate of
Business press headlines courtesy of Weekend City Press Review:
Switzerland is planning radical new rules for its hedge fund industry, unsettling those money managers who quit London over high taxes for the perceived easier regulatory regime provided by the Swiss. The new regulations have yet to work their way through the Swiss Parliament and are intended to bring the country in line with the EU’s new hedge fund rules, even surpassing them in key areas.[Financial Times p.1]
Two US banks – JPMorgan Chase and Wells Fargo - believe the US housing market is nearing the bottom as homeowners take advantage of cheap interest rates to refinance mortgages. JPMorgan also said it was nearing the end of a damaging wave of mortgage-related litigation, while Wells Fargo revealed mortgage applications were up 84 per cent year-on-year.[Financial Times pp.1, 13]
The US Glazer family who control Manchester United FC are reportedly preparing to revive plans to list on the Singapore stock exchange. Between 25 per cent and 35 per cent of the shares would be listed to raise £600m, valuing the club at about £2bn, with any move likely to take place before August.[Sunday Times p.3.1]
Kohlberg Kravis Roberts is developing an ambitious plan to create the world’s third biggest diamond miner by buying the diamond mining operations of
A government report due on Monday could be crucial in determining the future of the UK’s shale gas industry. The report will conclude that drilling by
Tesco is planning to challenge Amazon in the UK as part of the revival plans being unveiled on Wednesday by new CEO Philip Clarke. The retailer plans to develop its shopping portal into an ‘online mall’, allowing other retailers to use the site in return for a share of revenues. Meanwhile, veteran Invesco Perpetual fund manager Neil Woodford reveals that he has sold the Tesco shares in his funds which he has held for most of the past 20 years.[Sunday Telegraph pp.B1, B6-7]
Sir Richard Branson has revealed that Virgin Atlantic is to appeal the decision by the EC to allow
Read today's Market Overview - a round up of today's company announcements.
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