Mon, 01 Sep 2014 11:53:08 -0400
South African stocks ticked higher on Monday, as Bidvest Holdings advanced after the industrial conglomerate said it could list its food unit in London, a potential windfall for investors. "We're quite fully valued across the board," said Abri du Plessis, a portfolio manager at Gryphon Asset Management in Cape Town. Bidvest, a conglomerate that spans shipping to office furniture, said it is considering a London stock market listing for its food business. The company has long acknowledged the need to separate that unit from the rest of the group, saying its true value has not been reflected fully reflected in Bidvest's share price.
Mon, 01 Sep 2014 07:15:52 -0400
By Tiisetso Motsoeneng JOHANNESBURG (Reuters) - South African conglomerate Bidvest is considering a London stock market listing for its food business to help to fund future growth, the company said after announcing an 11 percent rise in annual profit. Bidvest's diverse operations from auto showrooms to shipping and office furniture make it South Africa's second-biggest company by sales, but it has long acknowledged the need to separate its food business from the rest of the group because its true value was not fully reflected in its share price. "Markets are particularly buoyant, money is cheap and there's quite a lot of demand for this particular asset," Bidvest Chief Executive Brian Joffe told reporters in a conference call. Bidvest, which in 2011 rejected buyout bids for the business on the grounds that they would not have benefited shareholders, said on Monday that a separate listing would unlock value because it is becoming increasingly difficult to fund growth with a South African balance sheet.
Mon, 01 Sep 2014 07:12:05 -0400
* HSBC, Tesco (Xetra: 852647 - news) hit as key shareholders cut stakes * New York stock market closed for public holiday * BAE Systems (LSE: BA.L - news) boosted by BofA ML upgrade -traders LONDON, Sept 1 (Reuters) - Britain's top equity index edged lower on Monday, pressured by weakness in bank HSBC and supermarket retailer Tesco after key shareholders sold stakes.
Mon, 01 Sep 2014 06:14:09 -0400
Len Blavatnik's investment group Access Industries made a bid to take sports rights group Perform private on Monday, sending Perform shares soaring back to their flotation price after a bumpy three-year ride. Perform buys online rights to major sports events and supplies video clips, live action and sports news and data to media groups and bookmakers. The bid values the company, including Access's existing 42.5 percent stake, at 700 million pounds. Shares of Perform surged on news of the offer, which at 260p per share matches the price at which the company was floated on the London stock market in 2011.
Mon, 01 Sep 2014 04:53:41 -0400
* Warren Buffett flags support for 'passive' investing LONDON, Aug 31 (Reuters) - Warren Buffett built a fortune of nearly $60 billion from astute stock picking, but when the 83-year-old dies, the vast majority of the money he leaves his wife will be parked in a fund that simply moves in step with an index. The afterlife plans of the man nicknamed the Sage of Omaha, revealed in a letter to his investors earlier this year, underline a sea change afoot in the investment industry. Fed up with high fees and poor performance, investors are increasingly shunning active fund managers who promise to beat the stock market in favour of cheaper, passive funds, which simply track it.
Mon, 01 Sep 2014 03:46:48 -0400
* Tesco (Xetra: 852647 - news) falls again as top shareholder cuts stake * New York stock market closed for public holiday LONDON, Sept 1 (Reuters) - Britain's top equity index edged lower on Monday, as another sharp fall in the share price of supermarket retailer Tesco pegged back the overall stock market. The blue-chip FTSE 100 index fell by 0.1 percent, or 7.06 points, to 6,812.69 points in early trading.
Mon, 01 Sep 2014 03:32:53 -0400
Foreigners will still not be able to invest in three companies despite measures to open up Saudi markets to overseas investors, according to a study by the Makkah Chamber of Commerce and Industry (MCCI). The report outlined that the foreign investment bylaw in the Saudi stock market has banned foreign investors from purchasing or owning shares in companies working in Makkah and Madinah.
Mon, 01 Sep 2014 03:23:52 -0400

South Korean shipbuilder Samsung Heavy Industries' tanker-shaped vessel is seen at a southern shipyard in Geoje, on November 30, 2013The shipbuilding and engineering units of South Korea's Samsung group said on Monday they would merge, as the family-run giant gears up for generational ownership succession. The board members of Samsung Heavy Industries, the world's third-largest shipmaker, and Samsung Engineering had approved the tie-up via a share swap, said a joint statement. Samsung Heavy focuses on shipbuilding and offshore plants while Samsung Engineering build onshore energy plants around the world. Share price of Samsung Heavy and Samsung Engineering jumped by 6.61 percent and 12.2 percent, respectively, on Seoul stock market Monday.


Mon, 01 Sep 2014 02:35:47 -0400
POLITICS Rome, Spending Review. Carlo Cottarelli meets reporters on cutting the number of publicly-owned local service companies (1300 GMT). Rome, Prime Minister Matteo Renzi to hold news conference on government reform plans. COMPANIES FIAT The chief executive of Fiat-Chrysler, Sergio Marchionne, said on Saturday that Oct. 13 was the most likely date for the listing of the group on Wall Street and did not rule out a possible capital increase at the world's No. 7 auto group.
Sun, 31 Aug 2014 23:55:44 -0400

FILE - The New York Stock Exchange is shown, Tuesday, Aug. 9, 2011 file photo taken in New York. Global stock markets were muted Thursday Aug. 28, 2014 ahead of U.S. economic data and possible policy announcements from Japan.(AP Photo/Mark Lennihan, File)BEIJING (AP) — Asian stock markets rose Monday, lifted by another record high on Wall Street and expectations of stimulus in China after its manufacturing growth slowed. Investors looked ahead to this week's U.S. employment figures and a meeting of Europe's central bank for signs of stimulus steps.


Sun, 31 Aug 2014 21:05:47 -0400
The net profits of China's listed companies grew slightly faster in the second quarter in line with the country's improving economic performance, although the first half was weaker than the same time last year, an official newspaper said Monday. China's economic growth picked up slightly in the second quarter as a burst of government stimulus paid dividends, although analysts said Beijing would likely need to offer more support to meet its annual growth target of 7.5 percent as the property market hit hard times. China's 2,558 listed companies posted combined net profits of 1.27 trillion yuan in the first half of this year, the newspaper said. China's first-half earnings reporting season, which kicked off on July 1, ended on Sunday.
Sun, 31 Aug 2014 20:05:12 -0400

A man looks at a stock market board in Tokyo on August 8, 2014Asian markets edged up Monday following a record close on Wall Street at the end of last week, while analysts said data indicating sluggishness in the Chinese economy could prompt fresh stimulus from Beijing.


Sun, 31 Aug 2014 18:26:45 -0400

A logo at a branch of Virgin Money bank is seen in the City of London(Reuters) - Virgin Money [NRTRK.UL], the British financial services company partly owned by Sir Richard Branson, is in talks over a possible 2 billion pound stock market listing as early as next month, Sky News reported on Sunday, citing people familiar with the matter. A final decision on the timing of an initial public offering (IPO) has yet to be taken and the company may opt to wait until next year, Sky News said, adding that Virgin Group, which owns more than 46.5 percent of Virgin Money, may retain its ownership after an IPO. (http://bit. ...


Sun, 31 Aug 2014 11:44:06 -0400
THE outlook is bearish for the local stock market this week, going by its continuous flat performance last week, especially on the back of falling crude palm oil (CPO) price and the absence of any new fresh leads. Last week’s performance has been deemed “disappointing” by many analysts. “Last week has been a disappointment when it comes to midcap stocks, especially with the CPO price dipping below RM2,000 per tonne, when just a couple of weeks ago it was trading at RM2,700 per tonne,” said an analyst.
Sun, 31 Aug 2014 10:26:19 -0400

FILE - In this Monday, June 2, 2014 file photo, people visit a fossilized skeleton of a 155-million-year-old long-necked, whip-tailed adult sauropod dinosaur, at the Dubai Mall in Dubai, United Arab Emirates. Emaar Properties, the developer behind the Dubai Mall, one of the world’s largest malls, and the Burj Khalifa, the world’s tallest tower, said in a statement Sunday, Aug. 31, 2014 it will launch an initial public offering for part of its retail business in Dubai next month. The Dubai-based developer said in a statement that it expects to sell at least 15 percent of the company known as Emaar Malls Group in the offering. (AP Photo/Kamran Jebreili, File)DUBAI, United Arab Emirates (AP) — Emaar Properties, the developer behind one of the world's largest shopping malls and the world's tallest tower, said Sunday it will launch an initial public offering for part of its retail business in Dubai next month.


Sun, 31 Aug 2014 09:02:41 -0400

Warren Buffet leaves the first session of the annual Allen and Co. conference at the Sun ValleyBy Simon Jessop and Nishant Kumar LONDON (Reuters) - Warren Buffett built a fortune of nearly $60 billion (36.14 billion pounds) from astute stock picking, but when the 83-year-old dies, the vast majority of the money he leaves his wife will be parked in a fund that simply moves in step with an index. The afterlife plans of the man nicknamed the Sage of Omaha, revealed in a letter to his investors earlier this year, underline a sea change afoot in the investment industry. Fed up with high fees and poor performance, investors are increasingly shunning active fund managers who promise to beat the stock market in favour of cheaper, passive funds, which simply track it. Such funds account for about a quarter of the money invested in the UK stock market, up from 15 percent a decade ago.


Sun, 31 Aug 2014 07:29:22 -0400
Dubai's Marka has appointed Nick Peel as chief executive, the retailing and restaurants company said in a statement on Sunday. Peel joins the start-up firm having previously worked as an executive at British retailer McArthurGlen as well as soccer clubs Arsenal and Rangers. Marka raised 275 million dirhams ($75 million) in an initial public offer of shares earlier this year and expects to list on the Dubai Financial Market in September. Its IPO was the first on Dubai's main stock market for five years and was 36 times subscribed;
Sun, 31 Aug 2014 03:05:31 -0400
* Emaar to offer at least 15 pct of Emaar Malls Group * One of Middle East's largest equity sales since 2008 * Subscriptions to be taken in September * Shares to be listed in Dubai in October * Payout totalling $2.45 billion to shareholders (Adds details) By Praveen Menon DUBAI, Aug 31 (Reuters) - Emaar Properties will launch its highly anticipated initial public offer of at least 15 percent of its shopping malls and retailing unit on Dubai's main stock market in September, and plans to list the shares in October. The offer would be one of the largest equity sales in the Middle East since 2008, underlining Dubai's recovery from a credit crisis that forced many state-linked developers to stall projects, and some - though not Emaar - to restructure debt. The announcement of the IPO on Sunday sent the share price of the parent firm up 6.3 percent to a 15-week high in early trading. Emaar Properties had initially revealed in March its intention to sell up to 25 percent of the unit in an offer likely to raise 8 to 9 billion dirhams ($2.18-$2.45 billion).
Sun, 31 Aug 2014 01:25:19 -0400
Emaar Properties will launch an initial public offer to sell at least 15 percent of its shopping malls and retailing unit on Dubai's main stock market in September, and plans to list the shares in October. The emirate's largest real estate developer will offer 30 percent of the shares to individual investors and 70 percent to qualified institutional investors, it said in a statement to Dubai's bourse on Sunday. "The pricing of the IPO will be determined via a book-building process with qualified institutional investors who are clients of the Joint Global Coordinators or the Joint Bookrunners," the statement added.
Sun, 31 Aug 2014 00:32:26 -0400

People play in a hall inside Alibaba's headquarters in HangzhouChinese e-commerce company Alibaba Group Holding Ltd is planning to launch its New York stock market debut in the week of Sept. 8, a person briefed on the matter told Reuters on Saturday. The much-anticipated sale or initial public offering (IPO) could raise more than $20 billion, making it the biggest technology listing in the United States. Securities and Exchange Commission (SEC) to kick-off the listing, the person said, adding that the date was still a moving target. An external spokeswoman for Alibaba in Hong Kong declined to comment on the share sale plans when contacted by Reuters on Saturday.


Sat, 30 Aug 2014 09:17:05 -0400

Fiat Chrysler CEO Marchionne answers questions from the media during the FCA Investors Day in Auburn HillsBy Paolo Biondi RIMINI Italy (Reuters) - Fiat-Chrysler aims to list shares in the newly merged carmaker in New York on Oct. 13, Chief Executive Sergio Marchionne said on Saturday, adding that a decision on any capital increase would be made at the end of that month. He was speaking a day after the merger between Fiat and its U.S unit Chrysler cleared its last remaining hurdle. Fiat bought out Chrysler at the start of 2014 and both operate as one firm. Marchionne wants to incorporate the two into Dutch-registered entity Fiat Chrysler Automobiles (FCA), paving the way for the U.S.


Fri, 29 Aug 2014 19:45:20 -0400

Martin Scorsese, best director nominee for his film "The Wolf of Wall Street", arrives at the 86th Academy Awards in Hollywood, CaliforniaVeteran filmmaker Martin Scorsese will be tapping into rock history with his next project, a movie on punk rockers the Ramones, his spokeswoman said on Friday. Scorsese, 71, who won a best director Oscar in 2007 for "The Departed," is in "way way early stages" of the project, his representative Michelle Margolis said. While Scorsese is best known for directing critically lauded films such as mob drama "Goodfellas" and most recently the acerbic comedy "The Wolf of Wall Street", he has also delved into music documentaries such as 2008's "Shine a Light", exploring the journey of The Rolling Stones. Founded in New York in 1974, the Ramones - formed by Johnny Ramone, Joey Ramone, Dee Dee Ramone and Tommy Ramone - spearheaded the punk-rock movement with aggressive, fast-driving songs such as "Blitzkrieg Bop," "I Wanna Be Sedated" and "Sheena is a Punk Rocker." Drummer Tommy Ramone, who was the last surviving original member of the band, died aged 65 in July this year.


Fri, 29 Aug 2014 16:48:58 -0400
Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Big Lots Inc., down 85 cents to $46.35 Shares of the discount retailer fell, even ...
Fri, 29 Aug 2014 16:40:09 -0400

Traders work on the floor of the New York Stock ExchangeSince falling to a near three-month low on Aug. 7, the S&P 500 has risen in 12 of the past 16 sessions. For the week, the Dow rose 0.6 percent, the S&P advanced 0.7 percent and the Nasdaq was up 0.9 percent, the fourth consecutive week of gains for all three.


Fri, 29 Aug 2014 16:36:56 -0400
* Indexes up: Dow 0.11 pct, S&P 0.33 pct, Nasdaq 0.5 pct (Updates to close) For the week, the Dow rose 0.6 percent, the S&P advanced 0.7 percent and the Nasdaq was up 0.9 percent, the fourth consecutive week of gains for all three.
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