July 27 (Reuters) – Sterling extended gains against the dollar on Tuesday, rising to a five-month high, as investors tentatively stepped into risk-taking trades. The pound rose as high as $1.5530 GBP=D4, its highest since late February. It was last at $1.5518, up 0.2 percent on the day. (Reporting by London forex team)
Temasek eyeing benchmark sterling bond sale-sources
July 20, 2010 By Leave a Comment
July 19 (Reuters) – Singapore state investor Temasek Holdings [TEM.UL] is looking to sell sterling-denominated bonds, its first issue in the British currency, sources with knowledge of the deal told Reuters.
Temasek could do a benchmark issue — which in industry terms is at least $500 million equivalent, sources said.
UBS (UBSN.VX), Deutsche Bank (DBKGn.DE), HSBC (HSBA.L) are likely to be lead managers for the sale, sources said.
Temasek and the banks declined to comment.
“They see sterling as an additional pool of capital for them,” said one of the sources who spoke to Reuters.
(Reporting by Saeed Azhar and Kevin Lim; additional reporting by Saikat Chatterjee in Hong Kong)
Euro adds to broad gains, hits 2-mth high vs dollar
July 10, 2010 By Leave a Comment
July 9 (Reuters) – The euro hit a two-month high against the dollar and rose broadly on Friday as improving risk demand prompted European banks to pick up the currency.
The euro EUR= climbed as high as $1.2723 according to electronic trading platform EBS. London traders cited demand from a Swiss bank from around $1.2680 as helping to push the single currency higher.
It rose broadly, climbing to 112.69 yen EURJPY= and 83.84 pence against sterling EURGBP=D4, its highest versus both currencies since June 21. (Reporting by Naomi Tajitsu)
BOUSSARD AND GAVAUDAN HOLDING LIMITED (GBP): Net Asset Value(s)
July 10, 2010 By Leave a Comment
BOUSSARD & GAVAUDAN HOLDING LIMITED
Ordinary Shares
The Directors of Boussard & Gavaudan Holding Limited would like to announce the
following information for the Company.
Close of business 08 Jul 2010.
Estimated NAV*
Euro Shares Sterling Shares
Estimated NAV € 12.9525 £ 12.1630
Estimated MTD return 0.35 % 0.34 %
Estimated YTD return 4.65 % 3.53 %
Estimated ITD return 29.53 % 21.63 %
NAV and returns are calculated net of management and performance fees
Market information
Euro Shares Amsterdam (AEX) London (LSE)
Market Close € 10.58 N/A
Premium/discount to estimated NAV -18.32 % N/A
Sterling Shares Amsterdam (AEX) London (LSE)
Market Close N/A GBX 955.00
Premium/discount to estimated NAV N/A -21.48 %
Transactions in own securities purchased into treasury
Ordinary Shares Euro Shares Sterling Shares
Number of shares N/A N/A
Average Price N/A N/A
Range of Price N/A N/A
Liquidity Enhancement Agreement Euro Shares Sterling Shares
Number of shares N/A N/A
Average Price N/A N/A
BGHL Capital
BGHL Ordinary Shares Euro Shares Sterling Shares
Shares Outstanding 50,233,768 1,568,514
Held in treasury 2,600,287 N/A
Shares Issued 52,834,055 1,568,514
*Since 1st of July 2010 the daily estimated NAV takes into account the impact of the
financial hedging of the conversion.
For further information please contact:
Boussard & Gavaudan Asset Management, L.P.
Emmanuel Gavaudan +44 (0) 207 514 07 00 Email : info@bgam-uk.com
mailto:info@bgam-uk.com
This document is issued by Boussard & Gavaudan Asset Management, L.P. which is
authorised and regulated in the conduct of investment business by the Financial Services
Authority in the United Kingdom. This document is for information purposes only and is
not an offer to invest. Boussard & Gavaudan Holding Limited is a closed-ended investment
company incorporated under the laws of Guernsey. Boussard & Gavaudan Holding Limited is
registered with the Dutch Authority for Financial Markets as a collective investment
scheme under article 1.107 of the Dutch Financial Markets Supervision Act. All
investment is subject to risk. Past performance is no guarantee of future performance,
and the price of shares in Boussard & Gavaudan Holding Limited can fall as well as rise.
Boussard & Gavaudan Asset Management, Calder House, 1 Dover Street, London, W1S 4LA
All statements in this document that are not historical fact are forward looking
statements, including, without limitation, statements regarding the estimated net asset
value, monthly return and year to date return of Boussard & Gavaudan Holding Limited,
and statements containing the words believes , estimates , anticipates , expects ,
intends , may , will , or should or in each case, their negative or other variations or
similar expressions. Forward looking statements involve known and unknown risk,
uncertainties and other factors which may cause the estimated results to be materially
different from any future results, performance or achievements expressed or implied by
such forward looking statements. Forward looking statements speak only as of the date of
this document. Except as required by applicable law, Boussard & Gavaudan Holding Limited
and Boussard & Gavaudan Asset Management, L.P. expressly disclaim any obligation to
update or revise such forward-looking statements to reflect any change in expectations,
new information, subsequent events or otherwise.
Prospective investors are advised to seek expert legal, financial, tax and other
professional advice before making any investment decision. The value of investments may
fluctuate. Results achieved in the past are no guarantee of future results.
The data in this document does not include the information received after 7 PM UK time /
8 PM CET. For technical reasons those are included the following day.
HUG#1430557
Sterling hits day’s low after weak UK services PMI
July 6, 2010 By Leave a Comment
July 5 (Reuters) – Sterling slipped to the day’s low against the dollar and the euro on Monday after a weak reading of the UK services sector underlined fragility in the country’s economic recovery.
The UK CIPS/Markit services PMI headline activity index fell for the third time in four months to 54.4 in June from 55.4 in May. That was weaker than the consensus forecast and the lowest level since August 2009. [ID:nSLA2IE685]
Sterling GBP=D4 hit the day’s low of $1.5160 after the figures were announced, compared with around $1.5170 beforehand.
The euro EURGBP=D4 edged up to a session high of 82.73 pence from 82.64 pence.
(Reporting by Naomi Tajitsu)
Euro extends drop vs sterling, hits 19-mth low
July 1, 2010 By Leave a Comment
June 29 (Reuters) – The euro extended its losses against sterling to hit a 19-month low on Tuesday, hurt by funding concerns in the euro zone.
Currencies
Funding pressures in the euro zone on concerns ahead of bank repayments to the European Central Bank this week as well as debt auctions were weighing on the euro, market players said.
The euro fell to as low as 81.16 pence EURGBP=D4, its lowest since November 2008. (Reporting by Rika Otsuka)
Euro extends losses, hits 1 1/2-yr low vs sterling
June 2, 2010 By Leave a Comment
June 1 (Reuters) – The euro sank to a 1 1/2-year low against sterling on Tuesday, extending broad losses as the single European currency was stung by concerns about bad loans held by euro zone banks.
The euro EURGBP=D4 fell 0.7 percent on the day to 83.98 pence, its weakest since December 2008, before pulling back to 84.04 pence by 0834 GMT.
Traders had said stop-loss orders were seen around 84.00 pence, while hefty barriers were also spotted around that level.
(Reporting by Naomi Tajitsu)
Libor 3-mth euro rate slips; spread at 24 bps
June 1, 2010 By Leave a Comment
May 31 (Reuters) – The British Bankers’ Association released the following London Interbank Offered Rates (Libor) for euros at its daily fixing.
Dollar and sterling Libors are not fixed due to public holidays in the United States and Britain.
The spread of three-month Libor rates over three-month OIS rates, calculated from Reuters’ data, expresses the three-month premium paid over anticipated central bank rates, or Overnight Index Swap rates.
The change from the previous session is indicated in parenthesis.
EURO O/N 0.28000 (+0.00500) 1WK 0.31750 (-0.00063) 2WK 0.33375 (-0.00188) 1MO 0.39125 (-0.00313) 2M0 0.48688 (-0.00187) 3MO 0.63313 (-0.00125) 6MO 0.93813 (-0.00125) 1YR 1.23625 (-0.00125)
3MTH LIBOR/OIS SPREAD (BPs)
24 (+1)
For RICs to the above rates, go to <0#LIBORSUPERRICS>.
Wimbledon to be football free zone during World Cup
April 21, 2010 By Leave a Comment
London, Apr 21 (ANI): Wimbledon has been declared a football free zone for the 2010 World Cup. So no matches will be shown on the giant screens in the grounds when the tennis championship is on.
“This is a tennis tournament. If you want to watch the World Cup, you can go to South Africa or watch it on television,” said Tim Phillips, the tournament’s chairman.
The Centre Court seats this year will have added protection from the sun because more of the cover can be deployed across the court, The Times reports.
As Wimbledon’s management listed its improvements for the 2010 Championships, emphasis was on the 9.4 per cent increase in total prize money from last year.
Wimbledon had to take account of the depreciation in the value of sterling when making its calculations.
It decided that the players were worth greater indulgence than just the improvements being undertaken to their living quarters in SW19 as part of a further revamp of the grounds. (ANI)
Sterling extends loss, falls below $1.50
March 2, 2010 By Leave a Comment
LONDON, March 1 (Reuters) – Sterling fell below $1.50 on Monday, extending losses on UK corporate acquisition news and political uncertainty.
The pound tumbled 1.7 percent on the day to $1.4982, its lowest since early May 2009 GBP=D4. (Reporting by Naomi Tajitsu and Tamawa Desai)
Sterling extends loss, falls 1 pct vs dollar, euro
March 2, 2010 By Leave a Comment
LONDON, March 1 (Reuters) – Sterling extended losses on Monday, falling one percent on the day against the dollar and euro.
The pound tumbled to $1.5074 GBP=D4, its lowest since May 2009.
Against the euro, sterling fell to 90.30 pence EURGBP=D4, its lowest this year, and breaking through resistance of 90.10 pence.
The pound’s fall was exacerbated after UK insurer Prudential Plc (PRU.L) agreed to a $35.5 billion deal with AIG on acquiring its Asia unit. [ID:nWLB8697] (Reporting by Naomi Tajitsu and Tamawa Desai)
Sterling hits 1 1/2-month low vs euro on UK data
March 2, 2010 By Leave a Comment
LONDON, March 1 (Reuters) – Sterling hit its weakest against the euro in 1-1/2 months on Monday on the back of data showing a fall in UK mortgage approvals.
Figures showed UK mortgage approvals fell slightly more than expected in January, although consumer and mortgage lending picked up more than forecast. [ID:nBOE002258]
The euro EURGBP=D4 rose as high as 90.09 pence, its highest since mid-January, edging up from around 89.97 pence before the data.
Sterling GBP=D4 fell to around $1.5140, having traded around $1.5165 ahead of the figures.
(Reporting by London Forex Team)
British wartime agents foiled Nazi plot before D-Day
September 1, 2009 By Leave a Comment
London, Sep.1 (ANI): British agents foiled a desperate German plot to monitor troop movements just days before D-Day, according to newly-released MI5 files on the Nazis.
During the Second World War, Iceland became tactically important for both sides and Germany sent a series of spies to gather weather information about the area to send back to the Luftwaffe.
But by May 1944 they had become convinced that any naval assault on their forces would be launched from Iceland, MI5 files released on Tuesday by the National Archives in Kew show.
According to The Telegraph, the Germans put together a hurried plan to send three spies to the country to monitor troop movements in a bid to foil Allied attempts to liberate France.
Three Allied forces agents, named Miller, Hoan and Frick, were having dinner in their hotel in Seydisfjordur, Iceland, on the evening of May 5, 1944, when they got wind of the scheme.
A seal hunter had spotted three strangers behaving suspiciously near Borgarfjordur.
The agents tried to alert an Allied ship anchored off the coast in that area but were told it could take hours before it got up enough steam to sail, by which time the men could be deep into the Icelandic wilderness.
So they persuaded the seal hunter to be their guide, borrowed a boat and in the early hours of the morning landed near where the men had been seen.
They hiked across the snow, through the night, following the faint trail left by the spies until finally, at 6 a.m. the following day, they spotted them.
Their report notes: “We cocked our pistols and quickened our pace.”
They surrounded the men, who very quickly confessed to being German soldiers, but claimed they had been sent only to gather meteorological information.
Ernst Fresenius, an avowed Nazi loyalist, was in fact the only German. The other two men, Hjalti Bjornsson and Sigurdur Juliusson, were Icelanders who had been hired as mercenaries by the Nazi military.
They were frogmarched to a farmhouse two miles away where Miller and Frick kept them prisoner while Hoan went back to find the radio transmitter the men had hidden.
A search revealed that the men had 9,000 pounds of sterling, dollars and German marks on them.
It took six interrogation sessions back in UK to establish that the arrested men were in fact trained spies looking for information on troop and naval movements and ships in fjords.
All three were handed over to the American forces and their file ends with a report from the interrogation camp. (ANI)
Diaz credits parents’ 39-year marriage for Hollywood success
July 16, 2009 By Leave a Comment
Washington, July 16 (ANI): Hollywood actress Cameron Diaz credits her parents’ 39-year marriage for her success in Hollywood.
The 36-year-old star, who lost her father to pneumonia last year, still believes that the long-lasting love her parents shared is one of the key contributors to her sterling on-screen success today.
“It’s a bond that is so true, so pure, and so powerful, it is the most beautiful and inspiring thing that I have ever witnessed — the eternal love that my mom and dad shared,” Fox News quoted Diaz as saying.
“It was what has given me the strength and courage to live this extraordinary life and it is what powers the light that burns inside of me,” she added.
Meanwhile, Diaz is reportedly in talks to star in comic book movie Green Hornet.
According to EW.com, the Charlie’s Angels star has been offered to play the lead, opposite Canadian actor Seth Rogen.
The film to be directed by Michel Gondry is set to go before cameras later this summer. (ANI)
Architect of Indian Navy’s 1971 victory Admiral Nanda passes away
May 12, 2009 By Leave a Comment
New Delhi, May 12 (ANI): Former Navy Chief Admiral Sardari Mathradas Nanda, who made the country realise the full potential of the Indian Navy during the Indo-Pak war of 1971, died in the capital after a prolonged illness.
Admiral Nanda was 94 and died at about 11 p.m. on Monday in Fortis Hospital, Vasant Kunj. He was cremated with full honours at the Brar Square crematorium in Delhi Cantonment at about 4 p.m. on Tuesday
Condoling his death, Navy Chief Admiral Sureesh Mehta said: “In his passing, the nation has lost a hero and a visionary leader, who contributed significantly to the growth of the modern Indian Navy.”
“He will always be remembered in the most glowing terms for his leadership of the Indian Navy during the Indo-Pak Conflict of 1971, in which the Indian Navy carved its name in golden letters in the annals of history by its sterling offensive actions,” he added.
Admiral Nanda assumed the charge of the Indian Navy as the sixth Chief of Naval Staff on February 28, 1970. Born in 1915, he joined the Royal Indian Naval Volunteer Reserve in October 1941. Prior to his joining the RINVR, he had served with Port Trust in Karachi.
In 1948, Admiral Nanda joined the Navy’s first cruiser INS Delhi in the United Kingdom as her First Lieutenant. He later commanded the destroyer, INS Ranjit, as well as a Frigate Squadron.
In 1957, Admiral Nanda commissioned the cruiser INS Mysore in the United Kingdom. He became the Deputy Chief of the Naval Staff (DCNS) in May 1962.
Admiral Nanda was awarded the Param Vishisht Seva Medal (PVSM) for the distinguished service of a very high order in 1966.
He commanded the Indian Navy during the 1971 Indo-Pak War and steered it to a resounding victory.
The Indian Navy humbled their Pakistani counterparts, gaining complete control over the Bay of Bengal and the Arabian Sea during the war. Admiral Nanda retired in 1973 after completing over 31 years of exceptional service. (ANI)
FOREX-Euro hits 1-month low vs dollar on ECB uncertainty
April 20, 2009 By Leave a Comment
ECB President Trichet signals small rate cut
* Trichet gives no details of unconventional steps
* Yen gains broadly as share prices fall
* Aussie retreats from a 6-mth peak vs euro
By Satomi Noguchi
TOKYO, April 20 (Reuters) – The euro hit a one-month low against the dollar and a three-week trough versus the yen on Monday due to uncertainty over policy steps the European Central Bank may take.
The Australian dollar earlier climbed to its highest in more than six months against the euro but then retreated sharply after Asian shares fell, prompting investors to reduce risky bets including the Aussie, also pushing the yen broadly higher.
ECB President Jean-Claude Trichet signalled on Sunday during a trip to Tokyo that the bank’s likely next move could be an interest rate cut of 25 basis points.[ID:nT138276]
But Trichet kept mum on details of plans for unconventional policy responses that are due to be unveiled at the ECB’s next policy meeting on May 7.
Trichet also dismissed any suggestion that ECB policy makers were divided over how far it should go and said he did not think zero interest rates would be appropriate for the ECB. [ID:nSP404768]
Market players are keen to see whether the ECB will follow the Federal Reserve, the Bank of England and the Bank of Japan in making asset purchases to contain the financial crisis.
“The euro looks set to fall further, following the same path as the dollar, sterling and the yen did when they faced month-long selling after their central banks adopted unconventional measures,” said Kengo Suzuki, a currency strategist at Shinko Securities.
The euro fell as low as $1.2967 on trading platform EBS, its lowest since March 17, before recovering to $1.2994, down 0.4 percent on the day.
“The euro is facing selling pressure because the market feels from Trichet’s recent comments that he probably wants to lower the euro,” said a manager of forex trading group at a large Japanese bank.
Trichet said on Friday that saying the euro was weak did not reflect the current situation. The euro was trading around $1.31 at the time of his remarks. The ECB chief also said he appreciated U.S. comments that a strong dollar was in U.S. interests. [ID:nTKF104338]
The euro erased earlier gains against the yen and fell to a three-week low of 128.14 yen on EBS. It then traded at 128.47 yen, down 0.6 percent.
The dollar also shed earlier gains and was down 0.3 percent at 98.85 yen .
The Australian dollar earlier climbed to its highest since early October against the euro, as firmer U.S. stock markets and signs of a pickup reflected in economic data late last week supported demand for riskier assets.
But investors later quickly reduced bets on the Aussie as regional stock markets fell, with the Nikkei average .N225 losing 1 percent partly on caution ahead of more U.S. company reports this week including Bank of America BAC on Monday.
The euro fell as low as A$1.7993 before rebounding sharply to A$1.8121, up 0.6 percent on the day as traders covered euro-short positions.
Traders said expectations that Asian and Oceanian countries will recover faster than European countries due to resilience in the Chinese economy could continue lending strength to the Aussie against the euro in the long run. (Editing by Michael Watson)
Sterling strikes three-month high versus dollar
April 17, 2009 By Leave a Comment
TOKYO, April 16 (Reuters) – Sterling struck a three-month high against the dollar on Thursday, lifted after data released the previous day provided some hope the British housing market was through its worst.
Sterling rose 0.3 percent to $1.5028 after hitting $1.5046, its highest since Jan. 12, according to Reuters data. (Reporting by Shinichi Saoshiro)