Editor's Picks
Friday newspaper round-up: News of the World, UK GDP, Food prices...
Friday 08 Jul 2011
Britain's biggest-selling newspaper was shut down last night by the Murdoch family in a surprise move designed to bring an end to the phone hacking scandal engulfing the News of the World. James Murdoch, the chairman of News International, which owns the newspaper, announced that the final edition would be published this weekend, citing the “inhuman” alleged behaviour of some staff as prompting
US close: Stocks jump, clothes retailers in fashion
Thursday 07 Jul 2011
Stocks closed with good gains after some heartening jobs data and decent numbers from clothes retailers.
London close: Footsie hits two-month high
Thursday 07 Jul 2011
The Footsie finished at levels not seen since early May on Thursday after the Bank of England rate decision and a strong start in the US buoyed sentiment in London. At midday, Bank of England policy makers left interest rates on hold at the record low of 0.5%. The lack of movement was largely expected despite the annual rate of inflation remaining at 4.5% in May...
US first-time jobless claims lower than expected
Thursday 07 Jul 2011
Initial unemployment claims fell by 14,000 last week to 418,000, according to the latest data from the US Labor Department. The market consensus was looking for a more modest decline to 424,000. Last week's reading was revised higher to 432,000 compared to the preliminary estimate of 428,000. The four week moving average fell by 3,000 to 424,750.
Broker tips: Booker, Babcock, McBride
Thursday 07 Jul 2011
Singer Capital has upped its target price on Booker to 65p from 58p after a bullish update from the cash and carry group.
ECB lifts rates again
Thursday 07 Jul 2011
The European Central Bank (ECB) has raised interest rates for the second time this year, heightening tensions between economic powerhouse Germany and the highly indebted peripheral members of the single currency.
ADP payroll survey well ahead of forecasts
Thursday 07 Jul 2011
The ADP employment report just out stateside has shown a 157,000 increase in private sector payrolls during the month of June, well ahead of the 60,000 which the consensus had been expecting. While this gauge´s track-record as a leading indicator for the monthly enmployment report is ‘mixed’ at best it could lead to further gains today in stock markets.
ECB raises rates to 1.5%, as expected
Thursday 07 Jul 2011
At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
US Open: Stocks are trading near day´s best levels
Thursday 07 Jul 2011
Stocks are trading sharply higher this morning, with gains of approximately 1% in the S&P 500 and Nasdaq Comp. (Dow Jones: 90, Nasdaq Comp.: 35, S&P 500: 13). The above following the better than expected ADP employment report out this morning and initial unemployment claims data.
Broker snap: Singer Capital upbeat on Booker
Thursday 07 Jul 2011
Singer Capital has upped its target price on Booker to 65p from 58p after a bullish update from the cash and carry group.
Premium broker snap: Credit Suisse ups numbers at Robert Walters
Thursday 07 Jul 2011
After a strong second quarter trading statement from Robert Walters, Credit Suisse confirmed its outperform rating and raised its earnings estimates for the recruitment firm.
Growth stalls at Cape
Thursday 07 Jul 2011
Industrial services provider Cape said it expects growth to pick up pace throughout the latter part of the year and anticipates revenues for the first half to be similar to last year, sending its shares 1% lower.
UK manufacturing bounces but mining a drag
Thursday 07 Jul 2011
Manufacturing output bounced back in May, showing the largest month on month rise in over a year.
NCC shareholders far from hacked off
Thursday 07 Jul 2011
NCC, the fast growing software firm that keeps companies' critical software applications backed up and protects corporations from cyber attacks, saw strong revenue growth last year, helped by some judicious acquisitions. "The two US acquisitions have transformed our capabilities and provide a sound platform for sustained international growth," said group chief executive, Rob Cotton.
Sharp slowdown in sales to hit Premier Farnell profits
Thursday 07 Jul 2011
Premier Farnell, the engineering products supplier, has warned sales growth will come in below targets in what the firm describes as “difficult market conditions”.
BHP suspends operations after fatality
Thursday 07 Jul 2011
Mining giant BHP Billiton's port and rail operations have been suspended in Western Australia.
Record sales at Man Group in challenging quarter
Thursday 07 Jul 2011
Funds under management (FUM) at hedge fund manager Man Group rose to $71bn at the end of June on the back of record sales for the quarter.
London open: Man leads FTSE 100 higher
Thursday 07 Jul 2011
Stocks have got off to a decent start as expected, with hedge fund Man Group leading the way in the FTSE 100.
Babcock to shed VT's US defence ops
Thursday 07 Jul 2011
Babcock, the FTSE-250 engineering support firm, says it will be looking at selling off the US Defence operations of its recent acquisition, VT Group.
UK manufacturing surprises on the upside
Thursday 07 Jul 2011
UK industrial production rose by 0.9% on month (-0.8% on year) in May, according to the latest data just out from the Office of National Statistics (ONS). Consensus estimates had been calling for a rise of 1.1% on month (-0.5% on year). By sectors, and in terms of monthly change, mining and quarrying output (...)
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