Django Davidson: Barclays shorting Africa – No worse time to sell
In sterling terms, there could not be a worse time to sell. In valuation terms, Barclays Africa is close to all-time lows.
investment bank
Investec FY earnings to rise but weak rand to slow growth
Investec expects full-year earnings growth after increasing the funds it manages, the investment bank and asset manager said on Friday but warned that a weaker rand currency would hurt group results.
Citi analysts thought everyone knew ‘Hold’ meant ‘Sell’
A major function of an investment bank is to get people to buy and sell securities. The way this works is pretty much that the banks’ employees get on telephones or airplanes or Bloombergs and tell clients, “Hey here is a security you should buy,” and tell other clients, “Hey here is a security you should sell.”
Gary Booysen’s essential market analysis: Investec, Woolies, Tsogo Sun & Anchor Capital
Alec Hogg and Head of Trading at Vunani Private Clients, Gary Booysen analyse today’s markets, focusing on Investec, Woolies, Tsogo Sun and Anchor Capital.
Investec sees stronger H1 earnings
JOHANNESBURG (Reuters) – South African investment bank Investec expects an improved first half performance, boosted mainly by increased assets under management, the company said on Friday. The wealth manager said its asset management division had seen net inflows of 2.7 billion pounds ($4.4 billion) as third party funds increased by 9 percent in the five … Read more
RECM’s Jan van Niekerk analyses FirstRand, Steinhoff and Ascendis Health
FirstRand came out with its highly anticipated results today, despite seeing a 21 percent jump in full year earnings, its share price is down over two percent on the day, perhaps due to the lack of a special dividend being announced. Regardless of FirstRand’s share price, it is certain that the financial services group is in … Read more
Bob Diamond in talks to buy stake in Nigeria’s Union Bank
By Chijioke Ohuocha and Steve Slater LAGOS/LONDON (Reuters) – Atlas Mara, the African investment vehicle of former Barclays boss Bob Diamond, is in talks to buy a $275 million stake inUnion Bank of Nigeria, a person familiar with the matter said on Thursday. Lagos-based UBN was established as Colonial Bank in 1917, and from 1925 … Read more
NY Mayor Bloomberg returning to head his data, news company
Sept 3 (Reuters) – Former New York Mayor Michael Bloomberg will return as head of Bloomberg LP, the data and financial news company he founded in 1981, replacing Daniel Doctoroff who has decided to step aside, the company said on Wednesday. The privately held company, in which Bloomberg is the majority shareholder, said Doctoroff would … Read more
Warren Buffett under fire for supporting tax-driven Burger King move to Canada
Berkshire Hathaway chairman Warren Buffett (right) is close to the Obama Administration. He supported Obama ahead of his first Presidential Election and is a confidant on important economic issues. Buffett has also been the flag waver for a proposal to ensure every American earning over $1m pays 30% of it in tax. But if media … Read more
A butterfly flaps its wings and a tornado results – Daily Newsletter
By Alec Hogg A few years back, I was approached by a London investment bank which needed help on assessing Nedbank. They were sworn to secrecy, but as tends to happen, it wasn’t too hard to work out their client was Standard Chartered Bank. The UK group has cash to burn. And as Old Mutual … Read more