Cityam 2015-05-21

cityam.comTHURSDAY 21 MAY 2015CITYDASHBOARDLONDON REPORTBESTof the BROKERSBid talk for Vodafoneand forex bank finesprompt a FTSE rallyCITY MOVES WHO’S SWITCHING JOBS Edited by Harriet GreenLDCThe private equity investor hasappointed Simon Adcock as aportfolio director. Adcock, aqualified accountant withnearly 20 years of big fouradvisory experience, joins fromDeloitte, where he was regionalhead of its corporate advisorybusiness. He began his careerat KPMG.Duff & PhelpsThe valuation and corporate finance adviser hasSPECULATION of a takeover bidfor telecommunications giantVodafone sent its share upyesterday – and the FTSE 100along with it. Britain’s top shareindex climbed back towards earlierrecord highs also buoyed by gains inmajor bank stocks.The blue-chip FTSE 100 index endedup 0.2 per cent at 7,007.26 points,close to a record high of 7,122.74points set in April. The index is uparound seven per cent since the startof 2015.Barclays and Royal Bank ofScotland were among several majorbanks to plead guilty yesterday to tryingto manipulate foreign exchangerates. Six banks were fined a total ofnearly $6bn (£3.86bn) in a settlementthat substantially ends a global probeinto misconduct in the $5-trillion-adaymarket. Barclays and RBS’ sharesboth rose as traders expressed reliefthat the fine was now out of the wayand lower than expected.Vodafone’s rise offset the negativeimpact on the FTSE from a five percent decline at Burberry, after thehigh-end clothing retailer cut its 2016profit guidance.FTSE7,0006,9806,9606,9406,9206,9006,995.1020 May14 May 15 May 18 May 19 May 20 Mayappointed Dominic Wreford as managing director andleader of its disputes and investigations practice inEurope. Wreford has more than two decades ofaccounting experience, with over 17 specialising inforensic accounting, commercial litigation and fraud. Hehas acted as expert in several high-profile cases.AIGThe insurance company has appointed Stuart Sutherlandas head of casualty for the UK. Based in London, Stuartreports to Jacqueline McNamee, managing director, UKand Nicolas Berg, EMEA head casualty. Sutherlandjoined AIG after nine years with XL, most recently asregional casualty manager for the UK, Australia andTo appear in Best of the Brokers, email your research to notes@cityam.com506 P502498494Scandinavia. He has nearly 30 years’ experience in bothunderwriting and broking, including in the Lloydsmarket.Walker CripsThe investment and wealth management group hasappointed Christine Little as operations manager. Littlejoins with over 15 years’ experience. She was previouslyat Ashcourt Rowan, where she was head of businessquality. Prior to that, she was a analyst and consultant atPension & Benefit Services.Montfort CommunicationsDuncan Learmouth and James Olley have joined the505.0020 May14 May 15 May 18 May 19 May 20 MayCINEWORLDNumis reiterated its “add” rating on the cinema group, ahead of its AGM statement, due to bepublished next week. The broker expects Cineworld to underperform the market in 2015.905895885875P903.3020 May14 May 15 May 18 May 19 May 20 MayNATIONAL GRIDWhitman Howard reiterated its “sell” rating on the utility company ahead of its full year results, outtoday. The broker said it remains wary of the longer term story at the firm, especially in the US.To appear in CITYMOVES please email your career updates and pictures to citymoves@cityam.comNEW YORKREPORTSIGN UP TO RECEIVE THE NEW CITY MOVESMORNING UPDATE AT CITYAM.COM/CITY-MOVESstrategic and financial communications agency.Learmouth joins from GlaxoSmithKline, where heworked for 23 years in senior positions, including globalhead of communications and investor relations and as asenior vice president. Olley joins after 11 years atBrunswick, where he lead on several blue chip accounts.Axa Investment ManagersFlorence Dard has been appointed head of France at theinvestment management firm. She joins from Edmondde Rothschild Asset Management, where she held anumber of senior positions since 2010, including head ofEuropean institutional sales and sovereign wealth funds.Prior to that, she spent 16 years with the Axa family.17YOUR ONE-STOP SHOPBROKER VIEWS ANDMARKET REPORTSUS stocks fallon Fed inactionUS STOCKS ended a touchlower yesterday after WallStreet saw little in theminutes from last month’sFederal Reserve meeting to alterexpectations of when the centralbank will raise interest rates.Following the minutes’ release,the Dow and S&P 500 pushed intorecord territory before giving uptheir gains.Officials at the Fed’s Aprilpolicy meeting believed it wouldbe premature to raise interestrates in June and that a bump ininflation was being offset by aweaker labour market and softerdata, according to the minutes.The Dow Jones industrialaverage fell 26.99 points, or 0.15per cent, to end at 18,285.4. TheS&P 500 lost 1.98 points, or 0.09per cent, to 2,125.85 and theNasdaq Composite added 1.71points, or 0.03 per cent, to end at5,071.74. The Dow had closed atrecord highs in the previous twosessions.Spread Betting I CFDs I Forex*Tax laws are subject to change and depend on individual circumstances.Tax law may differ in a jurisdiction other than the UK.Open an account at spreadco.comLeveraged products are high risk,losses may exceed deposits