Editor's Picks
Premium broker snap: UBS optimistic at Sainsbury despite tough conditions
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”.
London open: US worries overshadow cheery updates
Friday 29 Jul 2011
Shares have moved higher after some upbeat company statements this morning, but,demonstrating the its exposure to the global economy, the top share index has slumped on the back of worries over the ongoing deadlock as US politicians debate raising its debt ceiling.
US midday: Stocks trading 'mixed' going into the weekend
Friday 29 Jul 2011
The main US equity benchmarks are now trading ‘mixed’ (Dow Jones: -56, Nasdaq Comp.: 2, S&P500: -3), following much weaker than expected GDP data out this morning and after President Obama´s speech calling for a compromise solution to the budget ‘impasse’. Worth highlighting, he seems to be backing the creation of automatic spending brakes.
A ‘rough’ agreement between Republicans and Democrats?
Friday 29 Jul 2011
US President Barack Obama has today signaled that Republicans and Democrats are in “rough agreement” as regards plans to raise the federal debt limit, with just four days to go before a possible default.
Market overview: US GDP comes in well below estimates
Friday 29 Jul 2011
1342: The Commerce Department revealed that US GDP grew at a rate of 1.3% in the second quarter, well below forecasts of 1.8%. The government agency also announced that it had revised down its estimate for first quarter growth, from 1.9% to just 0.4%. The Footsie is now trading almost 1% lower, dropped 58 points to 5,815.
Pearson raises guidance after strong half
Friday 29 Jul 2011
Financial Times publisher Pearson has raised its full-year guidance after a strong first half.
Vodafone gets the phonecall it's been waiting for
Friday 29 Jul 2011
Vodafone has picked up the phone to some good news after learning it will receive a dividend worth £2.8bn from US associate company Verizon Wireless .
BSkyB profits soar despite distractions
Friday 29 Jul 2011
BSkyB has 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. Revenue in the year to 30 June soared to £6.6bn from £5.7bn the previous year, while EBITDA (earnings before interest, depreciation and amortisation) came in at £1.4bn, up from £1.2bn.
US close: Mixed finish despite strong data
Thursday 28 Jul 2011
Stocks were mixed at the close of play, giving back a brief rally that came after some heartening economic data.
Hardy widens catastrophe losses
Thursday 28 Jul 2011
Shares in Hardy Underwriting fell 5% lower on Thursday after the specialist insurer and reinsurer revised its catastrophe losses for the first quarter to the downside.
US Midday: Stocks give back some of their bounce
Thursday 28 Jul 2011
A little after midday the main market averages are easing back some from the day´s best levels (Dow Jones: 39 Nasdaq Comp.: 26, S&P 500: 7), ahead of tonight´s House vote on the Republican budget deficit reduction package. Having said that, no one seems to expect that it could ever pass the Senate in its current form even should it be able to surmount opposition in the lower chamber. Thus, more
London close: Late rally lifts stocks
Thursday 28 Jul 2011
Stocks finished in positive territory after a choppy day, with US economic data helping to spark a late rally. Weekly Initial jobless claims in the world’s biggest economy fell below 400,000 for the first time since April and homes sales data also came in ahead of expectations. The rush of company updates investors had to wade through got a mixed reception.
Drop in freight rates may signal US growth slowdown
Thursday 28 Jul 2011
Weakened freight charges and a delay in imposing peak-season surcharges may be signalling continued sluggish consumer spending in the United States and losses for shipping companies. Fees for hiring container vessels have slumped 9.3% since the end of April, according to the Howe Robinson Container index, which tracks charter rates for a range of vessels, a Bloomberg article reports.
Broker snap: Wolseley sells off problems, UBS upgrades to buy
Thursday 28 Jul 2011
UBS has upgraded Wolseley from neutral to buy after the plumbing and heating products firm recently completed its portfolio restructuring.
Shoppers cut back as high prices bite, CBI says
Thursday 28 Jul 2011
The CBI has blamed rising food and petrol prices for slightly lower than expected sales on the high street in the second quarter. A survey the employers’ organisation conducted between 28 June and 19 July founded that 33% of retailers saw sales volumes rise from the previous year, while 38% said they declined. The resulting balance of -5% was the weakest since June 2010 and below expectations of
US preopen: Bonds up on Eurozone woes
Thursday 28 Jul 2011
The main market averages are being called to open higher by 0.4% today, after yesterday´s thrashing and ahead of tonight´s House vote on the Republican budget deficit reduction package. Of interest, the heated criticism, judging by the news-flow, that has come out of Asia regarding the budget impasse in Washington.
BAE Systems hikes interim dividend
Thursday 28 Jul 2011
BAE Systems reported lower earnings growth in the first half of 2011 hurt by charges and foreign currency headwinds, but shares of the defence group jumped nearly 5% after the firm boosted its interim dividend and announced a £500m share repurchase program.
Broker snap: Rolls-Royce on course, says RBS
Thursday 28 Jul 2011
"Trading is now improving" at Rolls-Royce, according to RBS, which keeps its positive stance on the aerospace, power systems and defense group with a buy recommendation.
Not all fine at Siemens
Thursday 28 Jul 2011
A fine relating to a nuclear energy joint venture and charges at its health-care subsidiary put a dent in the fiscal third quarter earnings of German engineering behemoth Siemens. Earnings came in well below expectations of €1bn at €763m. However, the German conglomerate reiterated its annual guidance thanks
Copper production falls in H1, says Kazakhmys
Thursday 28 Jul 2011
Kazakhmys' first half copper production fell but the mining giant said that it was on track to meet its full year production target of 300,000 tonnes despite a bumpy start to the year.
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