Editor's Picks
Go-Ahead to beat expectations as drivers ditch cars
Thursday 23 Jun 2011
Train and bus operator Go-Ahead expects to post a full-year profit ahead of expectations as high petrol prices and tough economic conditions prompt drivers to abandon their cars in favour of public transport. Outgoing chief executive Keith Ludeman said the company has seen solid growth since the depths of the recession in 2008.
FX round-up: Dollar rises as US economy limps on
Thursday 23 Jun 2011
The dollar traded slightly higher versus the euro and Japanese yen after the Federal Reserve's gloomy assessment of the US economy.
Thursday tips round-up: Imagination, AstraZeneca, Sepura
Thursday 23 Jun 2011
Imagination Technologies takes licensing payments when a chipmaker adopts its technology and then royalties when the completed chips are used in their end product, a mobile phone, tablet or whatever. The problem for the market is twofold. One, the shares are on a multiple that, even for the sector, is high, approaching 40 times this year’s earnings. The second is the decision to diversify into
US close: Fed calls end to the party
Thursday 23 Jun 2011
The recent good times for US stocks came to an end after the Federal Reserve confirmed expectations and formally announced an end to its $600bn bond purchase programme, while also lowering its forecast for the US economy's growth.
Sector movers: Speculation of Comet sale boosts retailers
Wednesday 22 Jun 2011
The general retail category was among the best performing sectors on Wednesday afternoon, with FTSE 250-peers Kesa Electricals and Dixons Retail providing a lift.
US Midday: Stocks go into positive territory
Wednesday 22 Jun 2011
Despite some initial weakness the main New York stock benchmarks have now turned around (Dow Jones: +6, Nasdaq Comp.: +2, S&P 500: +1), following the release of the text of the Federal Open Market Committee´s policy decision. The central bank kept rates unchanged, as expected, and maintains that levels of economic activity will continue to recover “over coming quarters”, but it is, nonetheless,
Fed lowers GDP forecasts for 2011 and 2012
Wednesday 22 Jun 2011
As expected the Federal Reserve has today moderately lowered its GDP forecasts for 2011 and 2012, but barely so for 2013. For the first of these two years GDP estimates have come down by approximately 0.4 percentage points. The mid-point for the 2011 GDP forecast is now 2.8%, versus 3.2% in April (...)
Pursuit Dynamics to install biofuel systems at three plants
Wednesday 22 Jun 2011
Fluid technology group Pursuit Dynamics (PDX) has agreed to install its ethanol reactor system (ERS) at three of Advance BioEnergy's plants in South Dakota and Nebraska, adding that this move will help PDX reach its outlook of becoming cash flow positive in the first half of the financial year 2012.
FTSE 100 movers: Man Group leads the recovery
Wednesday 22 Jun 2011
Hedge fund manager Man Group is the high riser of the day, pulling the Footsie back into positive territory, after some kind words from Credit Suisse. Man is “moving in the right direction”, according to the Swiss bank, who upgraded the firm from a ‘neutral’ to an ‘outperform’ rating. “Clearly the last month has seen weak returns across the hedge fund industry but we...
Telefonica solidifies its position in Brazil
Wednesday 22 Jun 2011
According to data from Brazilian telecoms regulator Anatel, Spanish firm Telefonica improved its market share in Brazil to 29.48% in May from April's 29.45% after adding 774,000 new customers.
Transocean points finger at BP for oil spill
Wednesday 22 Jun 2011
Transocean, in what looks like another round of blame game, has pointed the finger at BP for the Deepwater Horizon rig explosion and the resultant offshore oil spill, the most disastrous in history.
Bankers outpaces All-Share but earnings dip
Wednesday 22 Jun 2011
At the half-way stage of its financial year the performance of FTSE 250 investment company Bankers Investment Trust is a percentage point ahead of the FTSE All-Share index. The trust's net asset value grew by 8.5% in the six months to the end of April to 490.5p, compared with a 7.5% rise in the All-Share index and an 8.3% increase in the 50/50 Composite index.
US pre-open: Fed Ex rises following results
Wednesday 22 Jun 2011
The main New York stock benchmarks are expected to open down by 0.2%, today, on average, following yesterday´s outsized gains. Some observers are describing premarket moves as a classic ‘sell the news’ reaction to last night´s confidence vote in the Greek parliament.
London midday: Comet sale talk jolts Kesa and Dixons higher
Wednesday 22 Jun 2011
Stocks are struggling to move into the blue as the Greek debt crisis drags on though there are some big share price movements.
GKN Driveline forms electric motors JV with Evo Electric
Wednesday 22 Jun 2011
Automotive and aerospace engineer GKN said GKN Driveline has formed a joint venture with EVO Electric to manufacture and sell axial flux motors and drive systems for the use in hybrid and all-electric vehicles, bringing GKN’s investment to £5m. In addition to the joint venture agreement, GKN will acquire 25.1% of Imperial Innovations Group-backed EVO Electric.
Premium tips: Man Group, Game Group, Weir...
Wednesday 22 Jun 2011
Man Group is “moving in the right direction”, according to Credit Suisse, who upgraded the hedge fund manager from a ‘neutral’ to an ‘outperform’ rating. While consensus expectations increasingly incorporate the higher cost run-rate, “we believe the downside to our forecasts is relatively limited now.” The target price is raised from 270p to 285p, reflecting slightly higher target multiples,
Falling palm oil prices slowing Anglo-Eastern
Wednesday 22 Jun 2011
Indonesian and Malaysian palm oil producer Anglo-Eastern Plantations issued a cautiously confident update at its annual general meeting on Wednesday, noting that crude oil palm oil prices at the end of May were more than a tenth lower than at their February high.
Broker snap: JP Morgan cuts forecasts at Imagination Tech
Wednesday 22 Jun 2011
JP Morgan Cazenove has made some changes to its forecasts for mobile phones and computer chip maker Imagination Technologies, after “strong” full-year results announced this morning.
US newspaper round-up: QE2, JPMorgan Chase, EMI Group...
Wednesday 22 Jun 2011
Federal Reserve officials have been warning for months that the controversial $600 billion bond-buying program they initiated last year wouldn't be a panacea for an ailing U.S. economy. That's one forecast they seem to have gotten right.
Some in the BoE could yet argue for more asset purchases
Wednesday 22 Jun 2011
A first reading of the minutes of the Bank of England´s (BoE) last monetary policy meeting seemed to indicate that the members of its monetary policy committee (MPC) have moderated their stance, and further reading seems to corroborate this. Thus, the minutes show how some of the members now believe that, “the current weakness of demand growth is likely to persist for (...)
You are here: news > editors picks
10 Lower Thames St,
London EC3R 6EN