Editor's Picks
Petrofac and Bowleven team up to develop Cameroonian asset
Monday 05 Nov 2012
FTSE 100 oilfield services giant Petrofac has entered into a 'strategic alliance' with AIM-listed oil and gas group Bowlevento develop the latter's Etinde Permit, offshore Cameroon, which will see Petrofac invest up to half a billion dollars.
Broker tips: Weir, William Hill, Millennium & Copthorne
Monday 05 Nov 2012
Investec has put upgraded its forecasts for engineering group Weir after the firm's well-received third-quarter update on Monday.
Tuesday newspaper round-up: France, Bonuses, Apple
Monday 05 Nov 2012
The International Monetary Fund has told France to take urgent measures to head off national economic decline, warning that the country risks being left behind as southern Europe embraces reform. Throwing the guantlet at the feet of the Socialist president Francois Hollande, the IMF said rising tax rates are undermining France as a place "to work and invest" and leading to a "significant loss of
London midday: Investors flee from risk ahead of US elections
Monday 05 Nov 2012
Investors risk averse ahead of elections; UK services PMI disappoints; Greece to vote on austerity.
Greece to present unpopular austerity package to Parliament today
Monday 05 Nov 2012
Nerves over Greece remain on edge as evidenced by the 2-year German bond yield entering negative territory or the further drop seen in the euro to one month lows.
London open: HSBC and miners provide a drag early on
Monday 05 Nov 2012
UK stocks declined sharply on Monday morning on the back of a mixed reaction to economic data from China and caution ahead of the presidential elections in the US and a parliamentary vote in Greece.
Commodities: Crude tumbles as dollar strengthens
Monday 05 Nov 2012
Crude oil futures fell almost three per cent on Friday as the US dollar pushed higher on the back of better than expected jobs data.
General Merchandise sales resume growth at M&S
Monday 05 Nov 2012
UK like-for-like sales were flat year-on-year in the fiscal second quarter at High Street bellwether Marks & Spencer (M&S), as General Merchandise sales recovered.
FTSE 100 movers: Miners provide a drag
Monday 05 Nov 2012
Mining stocks were providing a drag as investors digested the economic figures out in China overnight. The HSBC China services PMI fell from a four-month high of 54.3 to 53.5 in October, contrasting with the official services PMI from the National Bureau of Statistics this weekend which rose from 53.7 to 55.5. The latter is leading some to expect fewer calls for new stimulus measures in the Asian
Inmarsat to speed up investment in Global Xpress
Monday 05 Nov 2012
Satellite operator Inmarsat saw improved and more stable revenues from its core wholesale operations in the third revenue, leaving it well placed to hit this year's and next year's revenue targets.
Week Ahead: Morrisons, M&S, Rightmove, BoE QE
Friday 02 Nov 2012
The third quarter trading update season moves into overdrive next week, with statements from the likes of HSBC, Marks & Spencer (M&S), Associated British Foods, Aviva, Morrisons and RSA, plus controversy magnets G4S and Bumi. On the economic front, the Bank of England will reveal whether it is going to add to the asset purchase programme pot.
Sunday share tips: Mytrah Energy, BG Group, Centrica
Friday 02 Nov 2012
Mytrah Energy listed on the Alternative Investment Market on October 12, 2010 at 115p. At the time it had no assets. Today it is the second largest independent wind power company in India, with contracts in place to sell electricity for the next 20 years. Wind turbines may be controversial in Britain but India is sufficiently large that farms can be built without seriously damaging the beauty of
Money laundering investigation casts shadow over HSBC
Friday 02 Nov 2012
Adjustments to the fair value of its own debt put a serious dent in the third quarter profits of banking giant HSBC, while the final size of the money laundering fine in the US is casting an enormous shadow over the group.
Sector movers: Insurance stocks dragged down by Admiral and CPP
Friday 02 Nov 2012
Heavy falls for car insurer Admiral ensured that the non-life insurance category was firmly at the bottom of the pile on Friday afternoon, with a plummeting CPP Group doing little to help the sector.
London midday: Markets cautious ahead of US non-farm payrolls
Friday 02 Nov 2012
All eyes on US jobs data; outcome could be a major factor in presidential elections; Admiral, Meggitt and RBS disappoint.
Broker tips: Admiral, Weir, Burberry
Friday 02 Nov 2012
Investec has retained a 'sell' recommendation and 570p target price for car insurance firm Admiral after the group revealed that revenue growth had slowed in the third quarter.
Broker snap: Jefferies downgrades Weir to 'hold'
Friday 02 Nov 2012
Jefferies has downgraded its rating for engineering giant Weir from 'buy' to 'hold' ahead of its third-quarter results next week, saying that its short-term stance is one of 'rising caution' over risks to 2012 and 2013 consensus forecasts.
Nat Rothschild said to be plotting Bumi counter-play
Friday 02 Nov 2012
The Rothschild family get-together at Hannukkah could be interesting this year, with Bumi appointing the Rothschild Group as its financial adviser while former Bumi director Nathaniel Rothschild is said to be forming a consortium to back him in a buy-out attempt.
RBS takes further PPI provisions in Q3, but 'core' sees improvement
Friday 02 Nov 2012
Further provisions for mis-sold Payment Protection Insurance (PPI) and a hefty charge for own-credit adjustments pushed Royal Bank of Scotland (RBS) into the red in the third quarter, but the bank's underlying performance showed a robust improvement.
Admiral sees growth slow in the third quarter
Thursday 01 Nov 2012
Car insurance firm Admiral saw a slight decrease in third-quarter turnover but has assured that it is still on track to hit its full-year targets, blaming the decline on seasonal factor.
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