Editor's Picks
ICAP's revenue falls 4% in 'cautious markets'
Wednesday 13 Jul 2011
Interdealer broker ICAP, the largest in the world, saw revenue fall by 4% in the first quarter, hampered by a slow start and tough comparators last year, but expects things to pick up for the rest of the year. Revenue was said to be in line with internal expectations during the quarter ended 30 June.
Xstrata takes full control of Irish zinc prospect
Wednesday 13 Jul 2011
Mining titan Xstrata is to take full control of the Pallas Green zinc project in Ireland, buying out the 23.6% interest held by its joint venture partner, Minco, for $19.4m.
Retail sales surge at Burberry in first quarter
Wednesday 13 Jul 2011
Underlying sales at iconic British luxury brand Burberry soared by 34% in the first quarter, driven largely by strong retail growth in China.
London open: Burberry, miners dominate the rise
Wednesday 13 Jul 2011
Burberry and the miners dominated the risers early on, as the Footsie attempted to recover from the previous day of losses.
Marks and Spencer grows share, remains cautious
Wednesday 13 Jul 2011
High street bellwether Marks and Spencer battled through the second quarter of 2011, growing market share and delivering food sales growth that was ahead of expectations in some quarters. Group sales, excluding Value Added Tax (VAT), in the 13 weeks to 2 July were 3.2% higher than in the corresponding quarter of 2010. UK sales, excluding VAT, rose 2.7% year-on-year (yoy), ...
Wednesday tips round-up: Yell, Vectura, Computacenter...
Wednesday 13 Jul 2011
Is there something to Yell about at last for yet another business struggling to cope with the impact of the internet revolution? asks the Independent. To be sure, investors in the company have had a torrid time in recent years. All of a sudden, however, the shares are showing signs of life. What's driven the recent uptick is two deals: the announcement of a strategic alliance with Microsoft to
Wednesday newspaper round-up: Murdoch, Pensions, Interest rates...
Wednesday 13 Jul 2011
All three main political parties will today unite against the man they have spent decades wooing in an unprecedented attack on Rupert Murdoch and his business empire. The party leaders will order their MPs to vote for a motion calling for Mr Murdoch to abandon his takeover bid for BSkyB in the wake of the hacking scandal.
US close: Euro worries resufrace
Tuesday 12 Jul 2011
Stocks closed firmly in the red as the Eurozone debt crisis once again cast a shadow across the globe.
US midday: Stocks stay near the unchanged mark
Tuesday 12 Jul 2011
The main US equity benchmarks are now trading ‘mixed’ (Dow Jones: -2, Nasdaq Comp.: -10, S&P 500: 0). The above as opposed to falls of well over 2% in Europe today on the heels of contagion fears in Italian and Spanish debt.
Moodys downgrades Ireland´s debt below investment grade
Tuesday 12 Jul 2011
Moody's has today downgraded Ireland's foreign- and local-currency government bond ratings by one notch to Ba1 from Baa3. The outlook on the ratings remains negative. That means that Ireland´s long term debt is now rated at the ‘junk’ level. “The key driver for today's rating action is the growing possibility that following the end of the current EU/IMF (...)
PURE can still chip in to Imagination's rise
Tuesday 12 Jul 2011
Continued questions about whether Imagination Technologies, a company whose technology is used in chips for the Apple iPad and other well-known gadgets, should also operate a digital radio business may be getting a bit tiresome for managing director Hossein Yassaie.
FTSE 100 movers: ARM pulls blue chips lower
Tuesday 12 Jul 2011
Chip maker ARM was the biggest faller after figures from US peers Microchip Technology and Novellus came short of expectations. BSkyB was continuing its decline, a day after Rupert Murdoch withdrew his offer to spin-off Sky News in order to make his bid for the satellite broadcaster feasible. As such, BSkyB said the takeover panel had notified the company that it was ...
Broker snap: Sell Thomas Cook, recommends Prime Markets
Tuesday 12 Jul 2011
Prime Markets suggests selling Thomas Cook shares into any strength up to its interim management statement on 11 August.
Embattled News Corp to buy back $5bn shares
Tuesday 12 Jul 2011
Amid battling allegations of phone-hacking by News of the World reporters, the UK tabloid’s owner News Corp announced its plans to buy back $5bn of its common stock over the next 12 months.
Brazilian President waves through Tullett acquisition
Tuesday 12 Jul 2011
Inter-dealer broker Tullett Prebon has been given the go-ahead to buy Convençao S/A Corretora de Valores e Câmbio, a leading inter-dealer brokerage in Brazil.
Eurozone agrees on private sector participation in Greek rescue
Tuesday 12 Jul 2011
The European Union´s Economic and Monetary Affairs Commissioner Olli Rehn has indicated that a consensus has been reached as regards the participation of the private sector in a financial rescue package for Greece, according to market reports. Furthermore, Luxembourg Finance Minister Luc Frieden has indicated that a ‘selective default’ on Greek debt is not an option envisioned by eurozone finance
BMW rallies after hiking full-year targets
Tuesday 12 Jul 2011
Shares in Bayerische Motoren Werke (BMW) rose by over €2 after the German car maker upped its sales and earnings outlook for 2011.
US open: Stocks open mixed despite eurozone worries
Tuesday 12 Jul 2011
The main US equity benchmarks have opened mixed with a very slight gain in the Dow Jones Industrial and falls of barely 0.1% in the Nasdaq and the S&P 500. The above as opposed to falls of over 2% today in Europe on the heels of contagion fears in Spanish and Italian debt.
Europe midday: Italian bond auction calms markets
Tuesday 12 Jul 2011
If today's trading session were a boxing match, the referee would have stopped the fight in the early rounds and awarded a technical knock-out to the bears, but by the middle rounds there were signs of the bulls rallying. Things have calmed down after it was announced that Italy sold €6.75bn of treasury bills in the first auction since the country's sovereign debt yields started soaring.
London midday: Thomas Cook shares fall further
Tuesday 12 Jul 2011
Stocks are heavily under pressure today amid growing concerns over the Eurozone crisis. Meanwhile travel group Thomas Cook’s share price is taking a severe battering.
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