Editor's Picks
Barclays thinks agreement on Capitol Hill is just a ‘band-aid’
Monday 01 Aug 2011
In a research note out this morning economists at Barclays have issued a research note in which they indicate to clients that last night’s agreement on Capitol Hill represents a ‘band aid’ approach, and not a “game changing breakthrough”. This means that the possibility of a near term downgrade remains. Interestingly, Barclays believes that the issue of a ratings downgrade has been pushed back to
Hornby on track for gold
Monday 01 Aug 2011
Hornby, famed for its model railways and Scalextric kits, is on track for a good year after broadening its supply base, while its London 2012 Olympics range of collectibles is gaining sales momentum.
US close: Markets come off lows ahead of vote
Monday 01 Aug 2011
Wall Street cut its losses to end only moderately lower on Monday, as US benchmarks cut some of their losses while investors awaited for vote in Congress on the debt agreement.
London open: 5,900 in sight as Footsie starts strongly
Monday 01 Aug 2011
Only four stocks were in the red on Monday morning as the blue chip index recovered from a week of losses on the back of the back-and-forth debt ceiling debates in the US. However, the saga is apparently close to its end after President Barack Obama and congressional leaders agreed on a deal to put before Congress that will cut an initial $1trn from...
Market overview: Strong start for Footsie
Monday 01 Aug 2011
0825: The Footsie opened strongly, recovering from a week of losses on the back of the back-and-forth debt ceiling debates in the US. However, the saga is apparently close to its end after President Barack Obama and congressional leaders agreed on a deal to put before Congress that will cut an initial $1trn from federal government deficit expenditure, growing to more than $2trn over 10 years.
HSBC to lay off a further 25,000 staff
Monday 01 Aug 2011
On a conference call this morning Banking group HSBC’s chief executive officer, Stuart Gulliver, has said that it will eliminate a further 25,000 jobs from here until 2013.
London pre-open: Debt ceiling deal set for warm welcome
Monday 01 Aug 2011
With the US debt ceiling saga apparently close to its end, at least until the world's biggest economy needs to up its borrowing requirement again, equities on this side of the pond are set for a relief rally after Friday's fall. President Barack Obama and US congressional leaders have agreed on a deal to put before Congress that will cut an initial $1trn from ...
Profits drop at Hammerson, rental income higher
Monday 01 Aug 2011
Retail-focused real estate group Hammerson saw profits plummet by 42.6% in the half year ended 30 June, despite net rental income coming in higher. The firm, which owns shopping centres Brent Cross and the Bullring, reported the pre-tax profit dropped from £335.6m to £192.8m, as revaluation gains on its property portfolio more than halved from £258.7m in 2010 to just £121.1m this year.
HSBC offloads New York branches for $1bn
Monday 01 Aug 2011
HSBC, the global banking giant which is to release its first half results later today, has announced the sale of 195 branches in the US for $1bn. Through HSBC Bank USA, HSBC's wholly-owned subsidiary, the group has reached agreement to offload the branches (the majority of which are in Upstate New York) to First Niagara Bank ...
Monday newspaper round-up: US debt, HSBC, UK growth...
Sunday 31 Jul 2011
President Barack Obama announced on Sunday night that US Congressional leaders had reached an agreement on a tentative deal that would raise the US government’s borrowing limit and avoid a US default, prompting a positive response from Asian financial markets. As Republican and Democratic leaders coalesced around a deal that would involve $2,800bn in deficit cuts over the next decade, ...
The Fundamentalist: Mama don't take my Vodafone away
Sunday 31 Jul 2011
It has been a long time since we had a look at the Fundamentalist Five, our virtual portfolio of high yielding stocks, for which I apologise.
US close: Worst week since July 2010
Saturday 30 Jul 2011
US markets completed a miserable week in which the benchmark indices fell every day, as politicians continued to bicker over the need to raise the US debt ceiling.
An agreement on Capitol Hill is “very close”?
Saturday 30 Jul 2011
An agreement on Capitol Hill, which would allow the United States to raise the federal debt limit, cut spending and avoid default is very close, according to Senate republican leader Mitch McConnell, in remarks, today, on CNN. Likewise, one of US President, Barack Obama’s, advisers indicated today that progress had been made Saturday night, although there is no deal yet.
Sunday tips round-up: Care Tech, Jardine Lloyd, Kier
Saturday 30 Jul 2011
Contrary to commonly held views buying into a company whose share price has fallen 60%, such as CareTech, which provides care for people with severe physical disabilities, is not necessarily savvy investing. On this occasion, however, the Questor team at The Telegraph believes that the idea may have considerably more merit. The main reason seems to be a gentleman by the name of Richard Griffiths,
UPDATE: BSkyB profits soar despite distractions
Friday 29 Jul 2011
BSkyB on Friday demonstrated why Rupert Murdoch’s News Corporation was so keen to get his hands on the broadcaster with a sharp rise in revenues and profits, enabling it to return more than £1bn to its shareholders.
Sunday newspaper round-up: US Gdp, Egypt, UK consumers
Friday 29 Jul 2011
“The US Bureau of Economic Analysis said the economy grew at an annualized rate of only 1.3% in the second quarter and revised down its estimate of first quarter growth to only 0.4%, from 1.9%. But it also made annual revisions to its data that showed the recession of 2008 and 2009 was much worse than previously thought. (…) The data send mixed signals about whether the economy can bounce back
US GDP grows by 1.3% in second quarter
Friday 29 Jul 2011
The US economy grew at a rate of just 1.3% in the second quarter, according to the advance estimate released by the Commerce Department. The figure came in well below forecasts predicting a 1.8% increase in gross domestic product (GDP) in the three months between April and June. The Bureau of Economic Analysis also revised down its growth estimate for the first quarter (January – March), ...
Strong events sales drive UBM revenues up 9%
Friday 29 Jul 2011
Shares in UBM rose by nearly 6% on Friday after it announced a 9.1% rise in first-half sales, a 5% jump in the interim dividend and the acquisition of the world’s largest construction tradeshow.
Premium tips: Sainsbury, UBM, Afren...
Friday 29 Jul 2011
Despite the UK grocery industry experiencing the toughest trading environment in over 20 years, UBS has reiterated its buy recommendation on supermarket giant Sainsbury, saying that “overall growth remains solid”. The Swiss broker said that increasing competition in fuel has led to modest forecasts cuts to earnings. As such, UBS expects Sainsbury’s margin expansion to be lower than previously
Broker snap: RBS downgrades Lloyds from buy to hold
Friday 29 Jul 2011
RBS has downgraded UK lending giant Lloyds Banking Group from buy to hold, saying that there appears to be a lack of catalysts for the shares in the near-term.
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