Monthly Archives: February 2015

Rentokil shares rise on stronger profits

©Bloomberg Rentokil Initial shares rose to a four-and-a-half-year high on Friday as strong demand for its pest control services combined with cost measures to drive pre-tax profit up 58.4 per cent. The company unveiled a series of innovative products, including a trap for small vertebrates that sends a text when it catches a creature and an infrared-activated poison dispenser as…

Imminent QE triggers European fund inflows

You need JavaScript active on your browser in order to see this video. European funds are attracting a rising tide of money as investors prepare for the dawn of full-blown quantitative easing by the central bank to combat deflation and jump start growth. Stocks have reached new highs and bond yields have fallen to ultra-lows as capital inflows to European…

AB InBev plans buy-back and dividend rise

©Bloomberg A strong World Cup in markets such as Brazil offset disappointing performance in the US and Europe Anheuser-Busch InBev focused on returning cash to shareholders in its fourth quarter results as analysts played down expectations of a “transformational” acquisition from the world’s biggest brewer by market capitalisation. The maker of Budweiser launched a $1bn share buy-back and increased its…

Cyberonics and Sorin merge in $3bn deal

©AP Cyberonics of the US has agreed to merge with Italy’s Sorin to form a medical devices company with a combined equity value of nearly $3bn, which will be domiciled in the UK under a lower-tax regime. Shares in Cyberonics jumped almost 25 per cent to $75.29 in Thursday morning trading in New York, with Sorin up 32.5 per cent…

EU reforms boost European carbon market

European parliamentarians made a significant step towards repairing the EU’s ailing carbon market on Tuesday, setting a 2018 start date for a key reform that should help the price of allowances recover from rock-bottom levels. Traders had been expecting the move over the past weeks and carbon prices closed at a two-year high of €7.80 per tonne on Monday, up…

SGX chief Böcker to leave in June

©Reuters Singapore Exchange is looking for a new chief executive after Magnus Böcker said he would leave the world’s eighth largest exchanges operator by market capitalisation in coming months. The Swede will bring to an end his five-and-a-half-year tenure in June when his contract expires, the Southeast Asian group announced on Tuesday. Mr Böcker, who previously worked for Nasdaq and…

China opens up to foreign short sellers

©AFP Foreign investors will be able to short Chinese shares next month for the first time under the Shanghai-Hong Kong Stock Connect programme, in the latest move by China’s regulators to open up the country’s stock market. HKex said in a circular that short selling of stocks eligible for trading under the scheme, which has allowed Chinese and Hong Kong…

Companies diary: February 23 – February 27

©Bloomberg Earning power: Deutsche Telekom has a 67 per cent stake in T-Mobile • Economic Outlook: Yellen testimony to Senate may hold clues to timing of tightening • 4CAST Economic Calendar Diary commentary from FT reporters; data and company announcements, unless otherwise stated, from Thomson Reuters. Company announcements are of information publicly available before last week. Monday – February 23…

Investors grapple with China graft risks

©Getty Zhou Yongkang has become the most senior party figure indicted on corruption charges “So Mr Chairman, just how many passports do you have?” A question such as this may not seem the typical opening line when shareholders sit down with management, but in China such inquiries are increasingly common. Holding a second country passport is barred by Chinese law…

Sweden dives deeper into negative territory

©Bloomberg In global currency wars, one of the smaller players has just fired a very big weapon. Sweden’s Riksbank on Thursday became the first central bank to move its main repo rate into negative territory — by 10 basis points to -0.1 per cent — and launch quantitative easing. The move followed four rate cuts in 18 days from the…