Editor's Picks
IMF trims US growth forecasts
Friday 17 Jun 2011
In an update today to April´s World Economic Outlook (WEO), released in Sao Paolo, the International Monetary Fund (IMF) has trimmed its forecast for world GDP growth this year, by one tenth of a percentage point to 4.3%. The estimate for 2012 remains unchanged at 4.5%.
Europe close: Banks finish strongly as Greek woes subside
Friday 17 Jun 2011
European markets finished strongly on Friday, despite a poor start, as a resolution to the Greek debt crisis now seems more likely.
Week Ahead: Whitbread in need of a perc
Friday 17 Jun 2011
Whitbread did relatively well during the credit crunch era, with hotel users trading down to its Premier Inns and coffee addicts finding themselves unable to give up the Costa Coffee habit, but since the company’s full year results at the end of April, investors have turned a bit sour on the company.
Sunday newspaper round-up: Greece, ICB, Lloyds
Friday 17 Jun 2011
Writing about the Independent Commission on Banking´s (ICB) findings, and what for it was the surprise endorsement of them, last week, by the Chancellor of the Exchequer, at the Mansion House dinner, The Economist´s latest weekly edition considers that Mr.Osborne may simply have been looking to forestall an even more radical proposal. And what might be the motivation behind the announcement that
Week Ahead: Whitbread in need of a perc
Friday 17 Jun 2011
Whitbread did relatively well during the credit crunch era, with hotel users trading down to its Premier Inns and coffee addicts finding themselves unable to give up the Costa Coffee habit, but since the company’s full year results at the end of April, investors have turned a bit sour on the company.
Standard Life boss's wife buys
Friday 17 Jun 2011
Caroline Nish, the wife of Standard Life’s chief executive David Nish, has taken more shares in the insurer, spending £100,000. She took 49,335 shares at 201.4p a pop and now has 620,744. In a trading update in April, David Nish said Standard Life had a good start to 2011. At 4pm, the share price of Standard Life was up 2.7p at 204.6p.
US open: Confidence figures disappoint
Friday 17 Jun 2011
Hopes that European leaders are grasping the nettle in the Eurozone debt crisis have stocks moving higher, though the cheer has been tempered by worse than expected confidence data and the IMF downgrading its US growth predictions.
Merkel softens stance on haircuts
Friday 17 Jun 2011
German chancellor Angela Merkel has withdrawn her demands that bond holders should be forced to bear a share of the burden of the Greek bailout package, and has encouraged the participation of private creditors on a voluntary basis. Merkel said the participation of investors on a voluntary basis was modelled on the Vienna initiative.
Greek bonds rocket as leaders talk
Friday 17 Jun 2011
Greek bonds were bouncing back Friday as European leaders finally appeared to be grasping the nettle as they seek to prevent the debt crisis spinning out of control.
US pre-open: Stocks to advance on Eurozone hopes
Friday 17 Jun 2011
US stocks are pointing higher amid hopes the Eurozone crisis is nearing some kind of resolution. Germany softened its stance on the amount of pain bond-holders should suffer in the second rescue package for Greece. “We would like to have a participation of private creditors on a voluntary basis,”
FTSE 100 movers: Miners recover to lift the Footsie higher
Friday 17 Jun 2011
The miners are leading the comeback as metals prices recover slightly. Lonmin, Anglo American, Xstrata and Kazakhmys are among the best performers on the blue chip index, despite falling early on. Following the acquisition of an additional stake in Africa-focused coal miner Riversdale Mining, Rio Tinto announced on Friday that...
Aminex commences drilling at Tanzanian well
Friday 17 Jun 2011
US- and Tanzania-based oil and gas group Aminex announced that its Nyuni-2 well spudded shortly in the early hours of the morning on Friday.
Dragon Oil completes tests at Turkmen well
Friday 17 Jun 2011
Dubai-headquartered oil and gas firm Dragon Oil has announced that initial results from one of its development wells came in at 3,038 barrels of oil per day (bopd).
Europe midday: Rally as Germany softens stance
Friday 17 Jun 2011
After a weak start, European markets are now on the up after Germany softened its stance on the amount of pain bond-holders should suffer in the second rescue package for Greece.
Euro Zone periphery crisis news round-up
Friday 17 Jun 2011
The Financial Times points out today on its front page how Spanish long-term bond yields yesterday reached September 2000 highs, in spite of a deal between the European Union and the International Monetary Fund that reduced the chance of an imminent default by Athens. One of its columnists, James Mackintosh, also comments how the rise seen in Spanish borrowing costs hurts the Euro.
London midday: Stocks fight back on Eurozone hopes
Friday 17 Jun 2011
The leading share index has hauled itself into positive territory as hopes rise that European leader’s will bring the Greek debt situation to a resolution. Germany’s Angela Merkel and France’s Nicolas Sarkozy called on a new rescue package to be agreed upon as quickly as possible. In corporate news, chipmakers are in focus.
Broker tips: Glencore, WS Atkins, Laird...
Friday 17 Jun 2011
Charles Stanley has initiated coverage of Glencore with a ‘hold’ rating, following the release of the commodities trading house’s first quarter results this week.
Capital Pub explains rejection of Fuller's offer
Friday 17 Jun 2011
London-based pub operator Capital Pub Company has explained why it rejected a takeover proposal from its bigger rival Fuller, Smith and Turner.
Broker snap: Credit Suisse raises WS Atkins target, but growth limited
Friday 17 Jun 2011
Credit Suisse hikes its target price from 706.58p to 752p for WS Atkins, but keeps its ‘neutral’ rating, saying that while the picture is improving, growth remains limited by public spending.
US newspaper round-up: Nasdaq, RIM, Capital One...
Friday 17 Jun 2011
Nasdaq OMX Chief Executive Bob Greifeld Friday confirmed the exchange group is bidding for a minority stake in LCH.Clearnet, following nearly three weeks of speculation regarding a possible takeover of the independent Anglo-French clearing house.
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