Prices and Markets

Hammerson sells Places des Halles in Strasbourg - Hammerson has exchanged contracts for the sale of its share (64.5%) of Place des Halles shopping centre in Strasbourg, France. LaSalle Investment Management will purchase the centre from Hammerson and its co-owner, on behalf of funds under management, for a total net vendor price (100%) of EUR 291 million (GBP258 million), slightly above 30 June 2017 book value. Centrally located in Strasbourg, Place des Halles is a prime regional shopping centre totalling...

The price of energy is a topic which has caused great controversy in the UK in recent years. Many believe it to be overpriced, and with utilities serving as one of the main overheads for UK businesses, it is safe to assume that they are paying a fortune for their electricity. With so many different energy sources, including imported energy, nuclear, renewables and fossil fuels such as coal and gas, the cost of energy can differ depending on its source....

Standard Life Property Income buys Bracknell office - Standard Life Investments Property Income Trust has completed the purchase of a multi let office, 1 Station Square, in Bracknell for GBP12m, reflecting a yield of 6.9% on the topped up rent. The office has had a substantial refurbishment, and is located adjacent to Bracknell train station, and very close to the newly opened town centre retail scheme. The building also benefits from an excellent car parking ratio. The top floor is vacant,...

Central Asia Metals (CAML) has transformed itself from a single-asset copper producer to a significantly larger base-metal producer. The acquisition appears to have added a lot of value to the company and has added another low-cost base metal operation. QuotedData’s model suggests that this could allow CAML to almost double its earnings per share (EPS), which in turn could allow it to maintain its dividend flow and yield. The company completed the US$402.5m acquisition of the Sasa lead and zinc...

VPC Speciality Lending invests more in Borro - Victory Park Capital, VPC Speciality Lending's investment manager has decided that the funds that it runs will take a majority equity stake in Borro. Through this transaction, VPC Speciality Lending will end up owning approximately 49% of Borro. The remaining 51% of the equity will be held by other vehicles managed by Victory Park Capital and Borro's senior management team. VPC Speciality Lending will keep its outstanding senior secured debt position of approximately GBP32 million,...

John Laing Infrastructure reveals thinking on Labour PFI threats - in a trading update released today, John Laing Infrastructure Fund talks about various issues including the threat to PFI from a Labour government, a write-off in the portfolio and Catalonia. PFI At the annual UK Labour Party conference in September 2017, the UK's Shadow Chancellor of the Exchequer, John McDonnell, made comments regarding his party's intentions with respect to UK PFI contracts should the Labour Party come to power. These included...

QuotedData’s economic round up – November 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored by Martin Currie November Economic and Political Roundup Roundup The UK was, once again, one of the weakest...

Ecofin Global Utilities and Infrastructure - Delivering the goods 171109 EGL Update QD The manager of Ecofin Global Utilities and Infrastructure Trust (EGL), which invests in utilities and other economic infrastructure equities, says that the company’s portfolio has benefitted from having an overweight position in continental European stocks, good stock selection and an upswing in power prices which have moved higher on the back of rising commodity prices. Earlier this year the manager trimmed exposure to UK utilities, which have...

Oakley buys Career Partner - Oakley Capital Investments Limited has agreed to acquire, through its Oakley Capital Private Equity III fund ("Fund III"), Apollo Global Germany GmbH ("Career Partner Group"), from its current shareholder Apollo Education Group Inc. Fund III, together with a number of underlying Fund III investors, will hold a 79% stake in the business. Fund III will be partnering with CEO Dr. Sven Schütt and his management team, who will be investing in the new structure. Career Partner...