FTSE Russell has finally confirmed that Bill "Baby Face" Ackman's Pershing Square Holdings will replace Homeserve in the London's blue chip index.
Admittedly this was foreshadowed in some of today's British newspaper market reports...
Here we go again: Bill "baby-face" Ackman's Pershing Square Holdings is being tipped by brokers as the likely candidate to be promoted to the blue-chip index at the reshuffle next week.
Remember, though, we have been here before. Last quarter dealers predicted Pershing Square Holdings was heading into the FTSE 100 only to miss out at the last minute thanks to some weird re-calculating by FTSE Russell...
When I interviewed Crispin Odey last month the old buffer said it was "highly probable" the FTSE 100 could end up at the 5000 level by the end of the year (I did have to ask him that question). Below is the link:..
Perhaps charming Crispin will be proved right after all?
Two weeks ago I interviewed the the veteran hedge fund manager and asked him whether he thought the FTSE 100 index could end up at 5000 by the end of the year.
Odey - whose predictions of a stockmarket crash over the last four years have so far been proved to be spectacularly wrong - said that the FTSE 100 at 5000 was "highly probable". Below is a link to the interview in the Mail on Sunday:..
It's been a torrid week for global stock markets but have a guess at which company was the best performing stock in the FTSE 100?
Yes, it was the gulf-based hospital operator Muddy Waters loves to hate: NMC Health.
According to Bloomberg data, NMC Health's shares were up 9.73pc on the week, making it the best performing stock in the blue chip index. HSBC was the second best performer, losing 4pc on the week...
The vicious spat between notorious short seller Muddy Waters and FTSE 100-listed healthcare group NMC Health continues unabated.
This morning Carson Block's outfit pinged financial hacks with a fresh note. It starts off by saying:
"Muddy Waters Capital LLC believes that NMC Health’s response to our December 17, 2019 report was misleading, and outright false in certain portions. MW expects to comment more comprehensively on NMC going forward..."..
Tucked away in the Evening Standard's City section is a suggestion that Carson Block's next target in 2020 might be FTSE 100-listed Rolls Royce.
Now, to be clear I have no clue who Muddy Waters plans to target next but the short seller does appear to be having a bit of field day with UK-listed stocks, such as NMC Health and Burford Capital...
Hat tip to Bryce Elder. The FT market reporter who last year broke the story about Warren Buffett and 3G's $140 billion takeover bid for FTSE 100-listed Unilever smoked out another bid this morning. This time the flying Scotsman fleshed out Stobart's £100 million tilt at regional airline Flybe...
There seems to be only one story the world's financial press cares about this week: the rout and rallies of global equity markets.
So, if your looking for a bit of perspective on the whole affair Betaville suggests reading this piece (link below) published in The Sunday Times late last year...
Aim-listed Sirius Petroleum is in talks with investors about raising between $10 million and $20 million.
Sirius - which Betaville revealed several months ago had secured an offtake agreement with FTSE 100 oil giant BP - is looking to raise up to $12.5 million via an equity fundraising, said sources familiar with the matter...
Little old Betaville is not a big fan of travelling on the London tube but it does tend to be a place where this website comes up with its best ideas, conspiracy theories and stories (you would never believe how many bankers read confidential deal documents on the underground and sometimes you can sneak a peek)...
I rekindled my "top of the market?" series back in late December 2016 as the FTSE 100 index began to flirt with a recod high of 7100. Here is the link to that piece in case you don't recall:
https://www.betaville.co.uk/news/top-of-the-market-the-series-returns/
But since then the blue-chip index has powered on, closing yesterday at just over 7400...
Trade publications really are having a good week on the story front this week.
Indeed, today legal publication The Lawyer landed a rather intriguing tale about how a British High Court judge has thrown into question the legitimacy of a £16 million bill charged to Eurasian Natural Resources Corporation by Decherts, the law firm that counts the former deputy prime minister's wife as a partner...
Regular readers will be aware that I have recently re-introduced the "top of the market?" series since the FTSE 100 index started to flirt with fresh all-time highs.
However, little old Betaville likes to give respected commentators with a completely different pespective an opportunity to air their views to provoke thought and debate among readers...
Apologies for the lack of posts Betavillers - I have a had a few (deserved?) days off enjoying the holidays.
Fear not, though, I'm now back in full force. Yes, while many of little old Betaville's competitors continue their merrymaking I'm back at my desk looking to break big stories, provide thoughtful insight and also crack a few jokes...
Mediclinic is preparing to bid for Spire Healthcare, the FTSE 250 company that was formed from the sale of BUPA hospitals.
According to excellent sources, Mediclinic is working with bankers from Morgan Stanley on the potential purchase of the remainder of Spire that it doesn't own (remember last year Mediclinic bought 29.9pc of Spire Healthcare for 360p a share)...
I hear SAB Miller has just cancelled its "goodbye" drinks event scheduled for this Wednesday in London for investors, analysts and brokers...
It turns out Brexit has in fact be rather painful for Crispin Odey, the charming fund manager who campaigned for Britain the leave the European Union.
Stock markets might have crashed the days after the referendum result but since then equity and bond markets have rallied substantially. In particular, London-listed equities that generate earnings abroad have been in serious demand, driving the FTSE 100 to an 11-month high this week...
The venerable Wall Street Journal has just landed a cracking scoop about Mondelez submitting a $23 billion takeover bid for rival Hershey. Hat tip to those hacks who dug up that jackanory. Here is a link to their piece:
http://www.wsj.com/articles/mondelez-makes-takeover-bid-for-hershey-1467297248..