Editor's Picks
Legal & General acquires Cofunds Holdings
Tuesday 26 Mar 2013
Legal & General, which provides insurance and investment services, has agreed to acquire a 75 per cent interest in UK fund platform Cofunds Holdings for 131m pounds.
Market conditions remain fragile for ICAP
Tuesday 26 Mar 2013
Interdealer broker ICAP said trading conditions in the last nine months have been extremely challenging and it expects full year revenue to be 13 per cent lower than the previous year.
Wednesday share tips: ENRC, Resolution, Kazhakmys
Tuesday 26 Mar 2013
ENRC may fall victim to suspicion by association to Kazhakmys, even though it was he latter’s share price which yesterday got knocked down after announcing a $2.2bn write-down on its stake in rival copper miner ENRC. More poignantly for investors, the shares have also been under great pressure and it is well known that its Chairman and Chief Executive have pledged their shares for loans unrelated
London open: Markets flat with focus on Cyprus, US data
Tuesday 26 Mar 2013
Markets opened more or less flat on Tuesday with sentiment still fragile following the Cypriot bailout and investors showing caution ahead of some key economic data from the US.
Cyprus to keep banks shut until Thursday
Tuesday 26 Mar 2013
Cyprus has decided to keep all of the country's banks closed until Thursday, giving officials two more days to work out measures to avoid a run on deposits.
Wood Group wins major extension to North Sea contract
Tuesday 26 Mar 2013
Energy services giant Wood Group has received a 'significant' three-year extension to its North Sea contract with CNR International, the firm announced on Wednesday.
London close: Gains erased as Cypriot optimism proves short-lived
Monday 25 Mar 2013
The initial enthusiasm surrounding the last-minute deal to save Cyprus from financial collapse proved short-lived on Monday as comments from the head of the Eurogroup weighed on sentiment in afternoon trade.
FX round-up: Euro tumbles to four month low
Monday 25 Mar 2013
The euro came under pressure against major currencies on Monday as initial optimism over the deal to save Cyprus petered out and focus turned to comments from the head of the Eurogroup.
Kantar Worldpanel: Sainsbury market share tops UK grocers
Monday 25 Mar 2013
The latest grocery share figures from market research company Kantar Worldpanel, for the 12 weeks ended March 17th 2013, show that Sainsbury's is the clear winner among the big four, while elsewhere Waitrose and Aldi recorded the two highest percentage growth rates this period.
Commodities: Crude touches one month high
Monday 25 Mar 2013
Crude oil prices rose almost two per cent on Monday as markets cheered the last minute deal to save Cyprus from financial meltdown, but buyer momentum later faded as comments from the head of the Eurogroup wiped the shine off earlier optimism.
Tuesday tips round-up: Kentz Corp., Diploma
Monday 25 Mar 2013
Oil and gas engineering services group Kentz Corporation is on a solid foothold to expand. The latest figures from the company show that its backlog of orrders as of the end of February stood at 2.73bn dollars, up from 2.57bn dollars at the end of 2012. Given that the firm´s annual revenues are a rather more modest 1.56bn dollars, that is a significant sum. The firm is involved in three big
London midday: Financials provide a boost after 11th-hour deal in Cyprus
Monday 25 Mar 2013
Financial stocks were performing well on Monday morning, pushing the FTSE 100 one per cent higher, following Cyprus' 11th-hour deal with the Troika to save itself from financial collapse.
Broker snap: Goldman upgrades RBS on potential upside
Monday 25 Mar 2013
Goldman Sachs has taken Royal Bank of Scotland off its 'sell' list, saying that the expected earnings dilution from potentially higher capital regulations is already priced in to the stock.
London open: Markets rise on last-minute deal to save Cyprus
Monday 25 Mar 2013
Stocks advanced strongly on Monday morning after 11th-hour talks to save Cyprus from default resulted in a last-minute bailout deal with the Troika.
Schroders offers 424m pounds for Cazenove Capital
Monday 25 Mar 2013
Schroders has reached agreement on a recommended 135p-a-share offer for Cazenove Capital that values the investment business at 424m pounds.
Monday newspaper round-up: Cyprus, Dell, npower...
Monday 25 Mar 2013
Cyprus agreed on a 10bn-euro bailout on Monday morning that does not include the controverial deposit tax, but will force big losses on deposits in the country's two largest lenders, according to the Financial Times. The eleventh-hour deal came after a 'stormy meeting' of Eurozone finance ministers that lasted nearly 12 hours, the paper says.
In March house prices stopped falling in England and Wales
Friday 22 Mar 2013
House prices in England and Wales stopped falling in March in year-on-year terms, to stand unchanged.
Sunday newspapers: Cyprus, Vodafone, Fitch
Friday 22 Mar 2013
The President of Cyprus has flown to Brussels to broker an arrangement with the Troika. An earlier proposal, which seemed to have been reached on Saturday, was described as in ‘flux.’ “The negotiations are at a very delicate stage,” Christos Stylianides, a government spokesman, told The Financial Times. The latest obstacle is the idea floated by the Troika to also wind-down the island’s largest
Sunday share tips: BP, Howden Joinery, BAE Systems
Friday 22 Mar 2013
British Petroleum’s announcement of an 8bn dollars share repurchase plan ellicited a 2% rise in its stock price; however, it is questionable whether that is what the company ought to be doing, the FT’s Lex column says. Although under a worst-case scenario for the on-going trial in the US over the Gulf of Mexico oil spill BP would not go broke, it will see its financial flexibility restricted,
Broker tips: HSBC, BP, HomeServe
Friday 22 Mar 2013
Bank of America Merrill Lynch has taken a less bearish view on global banking group HSBC and moved its recommendation from 'underperform' to 'neutral'.
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