Newspaper article The Evening Standard (London, England)

Taking Stock; Your At-a-Glance Guide

Newspaper article The Evening Standard (London, England)

Taking Stock; Your At-a-Glance Guide

Article excerpt

BANKING AND FINANCE

City bookmakers took a massive hit as full trading in shares of investment firm Hargreaves Lansdown saw them race ahead of expectations. The flotation price was set at 160p in "grey market" trading but they opened at 215p, before losing 1p.

BUILDING AND PROPERTY

London investors will be able to tap into more of Moscow's booming property market as Russian developer PIK floats here. The company plans to raise [pounds sterling]1.3 in a dual London-Moscow share listing, valuing it at [pounds sterling]7 billion.

CONSUMER

Fashion house Valentino stepped closer to a takeover by British private-equity house Permira as it entered exclusive talks to top up its stake to more than 50%, reducing the chance of a rival bid from Carlyle, another venture capitalist.

ECONOMICS

The growth of British workers' pay packets slowed in the first quarter as those in the public sector got the smallest rises since 1998, the Industrial Relations Services said today. The Office for National Statistics this week also reported subdued pay inflation.

ENGINEERING

Broker Numis says that increased annual production at Airbus, which plans to build 25% more of its 120- 150-seater short-haul aircraft beloved of budget airlines, is good news for engine-maker Rolls- Royce and for engineer Meggitt.

HEALTH

AstraZeneca today won approval to lengthen the patent life of a blockbuster drug. The US Food and Drug Administration has granted it the right to market schizophrenia treatment Seroquel XR in its oncea-day version for five more years.

INDUSTRIALS

The world's biggest chemical company, Saudi Basic Industries, is reportedly buying General Electric's plastics division for a bumper $11 billion ([pounds sterling]5.5 billion) in what will be the biggest takeover by a Gulf State company.

LEISURE

Profits from pubs chain Luminar got the City's seal of approval. Panmure Gordon has repeated its buy rating and says trading is positive. It has raised its target from 900p to 925p. Altium has moved from 800p to 840p and says the company's turnaround is gaining traction. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.