Editor's Picks
Europe afternoon: Spain and Italy dropped by leading pack
Friday 24 Jun 2011
Optimism about the imminent conclusion of the latest chapter in the Greek debt crisis continues to fuel gains in Germany, France and Switzerland, but Spanish and Italian stocks have surrendered early gains and now trade in debit.
Sunday tips round-up: Hargreaves, Dixon´s, Eros
Friday 24 Jun 2011
Coal and transport services supplier Hargreaves Services may benefit from three factors, according to the Questor team at the Sunday Telegraph. First of all, a planning decision on the Tower Colliery expansion in Wales is expected in the next few months. Although news on this front has been expected for a long time, now the Rhondda Cynon Taf County Borough Council is expected to consider the
Premium tips: Sportingbet, Misys, Bunzl...
Friday 24 Jun 2011
Panmure Gordon reiterated its ‘buy’ recommendation and 70p target pricec on Sportingbet after reports yesterday that preliminary discussions are underway which may or may not lead to an offer for Sportingbet by Ladbrokes. “The Daily Telegraph market report suggested an approach at 70p a share which we would view as too low,” the broker said, suggesting an offer closer to 80-90p.
Broker tips: Schroders, Berkeley, Game
Friday 24 Jun 2011
Credit Suisse has reduced its forecasts for asset management firm Schroders given the decline in equity markets in the last month.
Broker snap: Credit Suisse reduces forecasts at Schroders
Friday 24 Jun 2011
Credit Suisse has reduced its forecasts for asset management firm Schroders given the decline in equity markets in the last month.
Argos owner homing in on Habitat
Friday 24 Jun 2011
The owner of Argos, Home Retail Group, has bought the struggling designer brand Habitat.
Brussels commits to Greece but wants more cuts
Friday 24 Jun 2011
European leaders will meet in Brussels for a second day as a part of their semester-end Summit, after committing last night to approving a second rescue plan for Greece “as soon as possible” as long as Athens advances with its spending cuts and adjustment plans. The second rescue package is rumoured to be worth approximately 100 billion euros.
Premium broker snap: UBS raises Misys target price after approach
Friday 24 Jun 2011
UBS has raised its target price for Misys by 100p after US-based payment services provider Fidelity National Information Services (FIS) confirmed that it has made a preliminary approach for the financial software provider.
Europe open: Stocks surge on Greek rescue hopes
Friday 24 Jun 2011
Markets have made a strong start, with optimism over the Greek debt crisis fuelling gains.
US open: Shares turn lower right after the start
Friday 24 Jun 2011
The main US benchmarks have turned sharply lower just after the open (Dow Jones: -103, Nasdaq Comp.: -25, S&P 500: -11) after having started the session just barely in the black.
Major shareholder backs Herencia fund raising
Friday 24 Jun 2011
Chilean mining company Herencia Resources has completed a placing of 125m new shares at a modest discount to Thursday's closing mid-market price, as a result of which major shareholder Nyrstar now has a 10.15% stake in the company.
London pre-open: Shares set for Greek bounce
Friday 24 Jun 2011
With Greece and the European Union settled on the contents of the austerity package to be put before the Greek parliament next week, hopes have risen that the prospect of a default by Greece on its loans can be put to bed. As news broke of the agreement late yesterday, the US markets performed an abrupt volte-face, wiping out earlier losses, and the Greek news is likely to bear gifts for shareholders in the UK market too, with City traders predicting the top-share index will open at around 5,744, up 70 points from last night's close.
Berkeley beats expectations, but dividend delayed
Friday 24 Jun 2011
London and south-east house builder Berkeley Group reported forecast-beating figures on Friday, on both the sales and the profit level, but investors will have to wait a little longer before they they can benefit from the resumption of a dividend. Full-year revenue jumped by 20.7% from £615.3m to £742.6m, beating consensus estimates of just under £700m.
Bunzl on the prowl
Friday 24 Jun 2011
Distribution and outsourcing firm Bunzl is trading in line with expectations, despite tough times in its UK and Irish markets.
Friday tips round-up: Rank, Chemring, Soco International...
Friday 24 Jun 2011
It is game over for Rank Group. Despite its misgivings, the company has told shareholders to accept a ridiculously low offer from the Malaysian billionaire Quek Leng Chan. The assumption was that the 150p a share offer would fail, leaving outside shareholders with a small majority. For some reason it attracted sufficient support to go through 50%, though Guoco said it would retain the listing in
Commodities: Oil prices plunge 4.6%
Friday 24 Jun 2011
Oil futures plunged Thursday after the International Energy Agency agreed to release 60m barrels of strategic reserves to buyers in a bid to ease prices.
Friday newspaper round-up: Greek austerity, Bank shares, Cameron...
Friday 24 Jun 2011
In Athens, Evangelos Venizelos, the country's new finance minister, said the changes included a raft of new taxes designed to plug a €5.5bn (£4.87bn) gap in the internationally-imposed austerity programme. The Greek government had struggled to close a black hole in the austerity plan, and the new measures will face a key vote in the Greek parliament next week, according to the Telegraph.
US close: Greece sparks late recovery
Thursday 23 Jun 2011
Despite a poor start, US markets rallied in the afternoon period with the Nasdaq finishing in the green. While the Dow and the S&P 500 closed moderately lower, late gains offset steep early losses, as positive news on the Greek crisis bolstered sentiment on Wall Street. Hurting the mood early one was last night's reduction to the Federal Reserve's...
Europe close: Broad sell-off across the continent, Bayer falls
Thursday 23 Jun 2011
European equities suffered a broad sell-off on Thursday, along with commodity prices, after comments made by the Federal Reserve last night.
US Midday: Google could receive FTC subpoenas
Thursday 23 Jun 2011
The main New York benchmarks are still registering large falls (Dow Jones: -175, Nasdaq Comp.: -15, S&P 500: -17) but they are off the lows of the sessions, thanks to better than expected US housing data and with the S&P 500 now standing near technical support at its 200 day moving average, followed by additional support towards 1,260 points. The most important things for investors to watch,
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