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Sunday newspaper round-up: Lloyds, Marks&Spencer, Oil explorers

Sun, 21st Sep 2014 18:48

Lloyds Banking Group is considering moving its legal home to England from Scotland even after the Scots voted against leaving the UK, the Mail on Sunday reported. Lloyds had said it would move if Scotland voted to leave the union but has only said it would keep "a significant presence" in Scotland after a no vote. More devoloution of powers to Scotland could lead to a different Scottish tax rate or tax regime. The bank will also have to make changes to its legal structure because of requirements to split retail and investment banking.Marks & Spencer's online sales in China have increased strongly after it agreed to sell through Alibaba, the Mail on Sunday said. M&S sells through Alibaba's subsidiary Tmall. M&S told the paper almost half its dress sales in China were online and that it was the fastest growing womenswear brand on Tmall. The paper said the partnership, agreed in December 2012, was an apparent vindication of chief executive Marc Bolland's strategy of expanding M&S outside the UK.Equity investors are fed up with being "taken for mugs" by oil explorers and producers, the Sunday Times reported. San Leon Energy's chairman, Oisin Fanning, is paid more a year than the oil explorer makes in revenue. An "unnerving proportion" of about 130 explorers and producers could be classified as "lifestyle" companies that pay management well without producing much for investors, the paper alleged. A large pension fund manager told the paper: "There is a casual disregard for shareholders in the oil industry."Neil Woodford has increased his stake in Game Digital by buying some of the shares US hedge fund Elliott Advisors sold on September 19th, the Financial Times reported. Woodford, who shunned the dotcom boom of the late 1990s, holds 5.3% of Game in his new investment fund after first buying the shares in July. Woodford outperformed the market when the dotcom boom burst after facing pressure for refusing to buy technology stocks as the internet bubble expanded. Woodford's former employer, Invesco Perpetual, also bought more shares in Game.Asos, the online fashion retailer, could face a revolt by some of the top brands it sells because the suppliers are unhappy about Asos's level of discounting, the Sunday Telegraph reported. An anonymous retail chief executive said Asos was "damaging their brand" and that Next's new Label service could be an alternative for retailers unhappy with Asos. Some retailers that sell through Asos in the UK have stopped it from selling products overseas but no major retailer has withdrawn its trade from Asos yet.GlaxoSmithKline could face repercussions from its Chinese bribery scandal for a long time, despite a £300m fine that was lower than some analyss feared, the Financial Times reported. The guilty verdict against GSK and five executives in China could be the start of punishment because authorities in the US and the UK are investigating its activities in China. The company also faces difficulties rebuilding its standing in the Asian giant after sales fell during the investigation. GSK has invested heavily in China and emerging markets are a big part of its growth strategy.Stock market flotations are about to pick up after the Scottish independence referendum's "no" vote, the Sunday Times reported. Several companies had put their float plans on hold before the Scottish vote but Jimmy Choo, RAC and Aldermore are among public offerings that could be announced this week. Other big deals could include Virgin Money, and British Car Auctions in what promises to be a strong end to one of the best years for share offerings with $30bn raised so far in London.The chief executive of Bargain Booze has cashed in just over half of the shares awarded to her for the completion of last year's flotation, the Sunday Times said. The annual report of Bargain Booze's parent, Conviviality Retail, showed Diana Hunter was awarded 1.7m share options worth 2.7p. She sold £1.3m last week, leaving her with £1.4m at Friday's closing price. She was paid salary and benefits of £560,000 for Bargain Booze's first year as a public company, in which its shares have performed well.All 120 employees at Cenkos Securities will share a £4m windfall from the stockbroker's work on the flotation of AA, the Sunday Telegraph said. Secretaries and financiers will all receive £40,000 from the AA fee to celebrate the deal, which valued AA at £1.4bn and added to Cenkos's first-half profit.The Scottish referendum process damaged the reputation of British businesses and delayed investment but the rejection of independence was a first step towards sanity being restored, Sir Mike Rake told the Sunday Telegraph. Rake, president of the CBI employers' lobby, said the UK now needs to show it is "open for business" again, the paper said.Banks may have to stop offering senior employees payments that get round European limits on bonuses, the Sunday Times reported. The European Banking Authority (EBA) is leaning towards ruling that the allowances breach pay rules. Even if the EBA decides the payments are within existing rules it is likely to change the regulations to outlaw them.Populist promises to freeze energy prices, raise the minimum wage and renationalise the railways are misguided and will not help consumers, the Institute of Economic Affairs (IEA) will say on 21 September. The Sunday Telegraph reported that the right-leaning think tank will say energy bills fell in the first 14 years after privatisation while blackouts happened under state ownership. Green initiatives are interfering with the energy market in a sign of increased state control, the IEA will say.
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23 Mar 2023 07:56

LONDON BRIEFING: Stocks called down ahead of UK interest rate decision

(Alliance News) - Stocks in London were set to open lower on Thursday as market attention turned to the Bank of England's interest rate decision, due at midday, a day after the US Federal Reserve lifted US rates by 25 basis points.

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23 Mar 2023 07:17

Cenkos and finnCap to merge in all-share deal

(Sharecast News) - Investment banks Cenkos Securities and finnCap have agreed to merge in an all-share deal.

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10 Mar 2023 09:12

Cenkos Securities shares down as cuts yearly dividend on swing to loss

(Alliance News) - Cenkos Securities PLC on Friday reported an annual swing to loss and a double-digit fall in revenue, as it cut its dividend by 65%.

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10 Mar 2023 08:04

Cenkos Securities swings to FY loss

(Sharecast News) - Institutional stockbroking firm Cenkos Securities said on Friday that it had swung to a full-year pre-tax loss as revenues almost halved amid low levels of activity.

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16 Feb 2023 11:22

Creo Medical proposes GBP25.0 million placing and subscription

(Alliance News) - Creo Medical Group PLC on Thursday proposed a placing and subscription of new shares to raise a minimum of GBP25.0 million, alongside a GBP5.2 million open offer.

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8 Feb 2023 11:24

IN BRIEF: Cenkos Securities shares up as eyes break-even in profit

Cenkos Securities PLC - London-based stockbroker - Expects 2022 revenue to be GBP20 million and to break even in underlying profit. Says this has been advised against a backdrop of "significantly depressed market conditions for 2022, with the overall level of money raised on AIM at its lowest since 2003 and new money at its lowest level since launch in 1995". For 2021, revenue was GBP37.2 million, and underlying profit was GBP5.9 million.

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26 Jan 2023 21:52

TRADING UPDATES: Proton wins order; Caerus Mineral sells assets

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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5 Dec 2022 21:49

TRADING UPDATES: MaxCyte in deal; Angus to resume Saltfleetby drilling

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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21 Oct 2022 13:49

Sondrel begins trading on London's AIM; raises GBP20 million

(Alliance News) - Sondrel Holdings PLC on Friday said it has raised GBP20 million, as it begins to trade on London's AIM market.

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29 Sep 2022 12:24

LoopUp shares down on GBP3.5 million placing and subscription

(Alliance News) - LoopUp Group PLC on Thursday said it has raised GBP3.5 million via a placing and subscription of discounted shares.

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8 Sep 2022 11:45

Cenkos Securities shares fall as faces "challenging" market conditions

(Alliance News) - Cenkos Securities PLC shares slumped on Thursday after the company reported a first-half loss.

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10 Aug 2022 17:57

IN BRIEF: MJ Hudson to raise GBP9.5 million for ESG business

MJ Hudson Group PLC - London-based asset management consultancy - Launches conditional fundraise by way of an accelerated bookbuild via a conditional placing of at least 26.7 million new shares at 30 pence each to raise GBP8 million. Issue price is around 4% discount to the closing price on Tuesday. Cenkos Securities PLC is acting as bookrunner. Also launches conditional offer for subscription via PrimaryBid at the same price to raise an additional GBP1.5 million.

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11 May 2022 10:24

Cenkos confident despite Ukraine, inflation worries denting backdrop

(Alliance News) - Cenkos Securities PLC on Wednesday said it has an "encouraging pipeline" for 2022 despite investor sentiment coming under pressure amid inflationary and Ukraine worries.

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4 May 2022 15:53

UK shareholder meetings calendar - next 7 days

Thursday 5 May 
AIB Group PLCAGM
Alpha FX Group PLCAGM
Apax Global Alpha LtdAGM
Ascential PLC AGM
Avast PLCAGM
BAE Systems PLCAGM
Ceres Power Holdings PLCAGM
Clarkson PLCAGM
Costain Group PLCAGM
Domino's Pizza Group PLCAGM
EJF Investments LtdEGM re rollover offer
Emis Group PLCAGM
GetBusy PLCAGM
Glanbia PLCAGM
Griffin Mining LtdAGM
IMI PLCAGM
Indivior PLCAGM
James Fisher & Sons PLCAGM
Jardine Matheson Holdings LtdAGM
John Wood Group PLCAGM
KRM22 PLCAGM
Made.com Group PLCAGM
Melrose Industries PLCAGM
Mincon Group PLCAGM
MoneySupermarket.com PLCAGM
Morgan Advanced Materials PLCAGM
Morgan Sindall Group PLCAGM
Personal Group Holdings PLCAGM
Quixant PLCAGM
Rathbones Group PLCAGM
Reach PLCAGM
Scotgems PLCAGM
Witan Investment Trust PLCAGM
Sancus Lending Group LtdAGM
React Group PLCAGM
Friday 6 May 
BlackRock World Mining Trust PLCAGM
CMO Group PLCAGM
InterContinental Hotels Group PLCAGM
Man Group PLCAGM
Rightmove PLCAGM
Spirent Communications PLCAGM
Monday 9 May 
Aviva PLCAGM
Aviva PLCGM re proposed capital return
Midwich Group PLCAGM
Tuesday 10 May 
Capita PLCAGM
Centamin PLCAGM
Direct Line Insurance Group PLCAGM
Doric Nimrod Air One LtdEGM re amending articles of incorporation
Gresham Technologies PLCAGM
HgCapital Trust PLCAGM
IWG PLCAGM
Just Group PLCAGM
Macfarlane Group PLCAGM
Temple Bar Investment Trust PLCAGM
Wednesday 11 May 
Antofagasta PLCAGM
Capricorn Energy PLCAGM
Cenkos Securities PLCAGM
Clarkson PLCAGM
Conduit Holdings LtdAGM
Harbour Energy PLCAGM
Harbour Energy PLCGM re proposed capital reduction
Hostelworld Group PLCAGM
Impact Healthcare REIT PLCAGM
Jupiter Fund Management PLCAGM
LungLife AI IncAGM
MC Mining LtdEGM re director change
National Express Group PLCAGM
Rentokil Initial PLCAGM
Savills PLCAGM
Schroder Asian Total Return Investment Co PLCAGM
Spirax-Sarco Engineering PLCAGM
Spire Healthcare Group PLCAGM
Tasty PLCAGM
TClarke PLCAGM
TP ICAP Group PLCAGM
TransGlobe Energy CorpAGM
Tribal Group PLCAGM
Uniphar PLCAGM
Windward LtdAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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18 Mar 2022 14:11

Cenkos lifts dividend after strong full-year performance

(Sharecast News) - Stockbroker Cenkos Securities reported an 19% improvement in revenue in its annual results on Friday, to £37.2m, as the board lifted the final dividend by more than a fifth.

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