Editor's Picks
London pre-open: Stocks on the front foot
Thursday 07 Jul 2011
Taking its lead from Wall Street, which edged higher yesterday despite some indifferent economic data, UK stocks are set to open firmer, with City traders predicting the Footsie will open at around 6,026, up 23 points from last night's close.
Commodities: Mixed signals for oil
Thursday 07 Jul 2011
Oil gave mixed signals in late trading on Wednesday as traders weighed bad news from Europe, hard policy decisions from Beijing and a drop in oil reserves in the US.
FX round-up: Euro down as Portugal worries markets
Thursday 07 Jul 2011
The global FX market currently resembles the “middle game” in chess, the phase where all the pieces are in play but it is difficult to calculate which are most powerful.
Thursday tips round-up: Robert Wiseman, SABMiller, Balfour Beatty
Thursday 07 Jul 2011
Robert Wiseman, the Scottish dairy group, said its business in the 13 weeks to the beginning of this month was in line with management's expectations. We were particularly encouraged by news that the company's recent investment in refrigeration and other equipment at its Manchester dairy had led to a 50 per cent reduction in gas usage, and a saving of 200,000 litres of water every week. Such
Margins keep growing at WH Smith
Thursday 07 Jul 2011
WH Smith reported a fall in sales in the 18 weeks to 27 July, but the newsagent and bookshop chain said it is continuing to grow margins. Total sales were down by 1% from the same period the previous year, or by 4% on a like-for-like basis, excluding the impact of new openings. “The economic environment remains uncertain,” WH Smith said.
US close: News Corp digs itself into a hole
Wednesday 06 Jul 2011
US markets shrugged off disappointing data from the service sector, and recovered from a weak start to finish firmer.
Brooks will keep her job: Murdoch
Wednesday 06 Jul 2011
Media mogul Rupert Murdoch has confirmed Rebekah Brooks will continue in her post of chief executive at News International, owner of the News of the World. Brooks is under pressure to resign as further allegations of phone hacking emerge at the Sunday newspaper, which she edited in 2002 when hacking was alleged to have taken place.
London close: FTSE 100 limps back above 6,000
Wednesday 06 Jul 2011
The top share index was above the 6,000 point mark at the close of play, but only just after worries over the Eurozone crisis – and global growth – sent stocks lower.
Axis-Shield shares leap after it rejects bid from rival
Wednesday 06 Jul 2011
The board of diagnostics company Axis-Shield has rejected an approach by US rival Alere, causing its shares to leap in value.
Employers 'very cautious' about taking on staff
Wednesday 06 Jul 2011
The number of people landing permanent jobs in June rose at its weakest rate in 22 months, according to industry figures. The Recruitment and Employment Confederation (REC) and KPMG 'Report on Jobs' also showed both permanent staff salaries and temporary staff wages rose only marginally as employers reigned in pay offers.
FTSE 250 movers: Booker Group bucks the trend
Wednesday 06 Jul 2011
The FTSE 250 pulled back from yesterday’s gains on Wednesday as worries about the health of another Eurozone country, Portugal came into focus after Moody’s Investors Service downgraded the country’s credit rating to junk. The index tracking the blue-chip stocks also tumbled below the 6,000 points mark, which weighed on investor sentiment.
US open: Stocks rise despite latest ISM data
Wednesday 06 Jul 2011
After a lower open the main US equity benchmarks are now trading ‘mixed’ (Dow Jones: +7, Nasdaq Comp.: -8, S&P 500: -4), despite the modestly weaker than expected ISM services data just out.
Pirate attack leaves giant oil tanker on fire
Wednesday 06 Jul 2011
Pirates have attacked an oil tanker carrying 1 million barrels of fuel oil, leaving it on fire off the Yemeni coast.
US ISM services index comes in modestly below expectations
Wednesday 06 Jul 2011
The Institute of Supply Management´s (ISM) service sector activity index for the month of June has come in modestly below expectations, at 53.3 points, from 54.6 the month before.
Broker tips: IAG, Robert Wiseman, Robert Walters
Wednesday 06 Jul 2011
Analysts at AlphaValue downgraded IAG from overweight to underweight with a price target of €3, following the release of the airline's June passenger statistics.
US ISM services index comes in modestly below expectations
Wednesday 06 Jul 2011
The Institute of Supply Management´s (ISM) service sector activity index for the month of June has come in modestly below expectations, at 53.3 points, from 54.6 the month before. Consensus estimates had been pointing to a reading of 53.7. The initial reaction by equity markets has been a small downwards lurch (Dow Jones: -11, Nasdaq Comp.: -9, S&P 500: -5).
US open: Stocks turn higher despite latest ISM data
Wednesday 06 Jul 2011
After a lower open the main US equity benchmarks are now trading ‘mixed’ (Dow Jones: +7, Nasdaq Comp.: -8, S&P 500: -4), despite the modestly weaker than expected ISM services data just out.
US premarket: Waiting for ISM services data
Wednesday 06 Jul 2011
The main US equity benchmarks are being called to open down by 0.5%, on average, following Moody´s decision to downgrade Portugal´s debt to ‘junk’ status, which has provoked quite a ruckus in the Euro Zone. To be had in account, many fund managers will now be forced to sell those debt instruments due to legally established limits which prohibit them from investing in securities which are
Profitability of non-financials recovers to 2008 levels
Wednesday 06 Jul 2011
UK non-financial companies saw first quarter profitability jump to levels not seen since the end of 2008, but the figures from the Office for National Statistics also revealed a sharp divide between in profitability between different sectors. Across the board firms saw their net rate of return reach 12.7% in the first quarter of 2011, compared to 12.5% the previous quarter.
Broker snap: Wiseman can milk profits despite higher costs
Wednesday 06 Jul 2011
Robert Wiseman may have to pay suppliers a higher milk price in the autumn but Panmure Gordon thinks this presents it with an opportunity to "recover costs from retailers."
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