Editor's Picks
FX round-up: Pound hammered by dismal data
Tuesday 12 Mar 2013
The dollar lost headway on Tuesday while the British pound was sent tumbling after poor UK industrial production data increased fears of another recession.
Antofagasta's revenues rise on back of record copper output
Tuesday 12 Mar 2013
Copper mining heavyweight Antofagasta reported on Tuesday a 10.9 per cent rise in 2012 revenues driven by a year of record production.
British Land to raise 500m pounds to fund flow of opportunities
Tuesday 12 Mar 2013
UK real estate group British Land has announced its intention to raise half a billion pounds to fund 'attractive investment opportunities'.
Lloyds trims stake in St James's Place to bolster capital
Tuesday 12 Mar 2013
UK banking group Lloyds has trimmed its holding via a placing of shares in wealth management outfit St James's Place in an effort to strengthen its capital cushion.
London close: FTSE 100 breaches 6,500 despite mixed data
Monday 11 Mar 2013
The FTSE 100 breached the psychological barrier of 6,500 on Monday afternoon, hitting fresh five-year highs, though gains were only slight given a barrage of mixed economic data released earlier in the session.
Commodities: Oil and gold rise to two-week high
Monday 11 Mar 2013
Crude oil futures logged a fourth consecutive gain and rose to the highest level in two weeks ahead of government inventory data on Wednesday.
Tuesday tips round-up: Anite, Ladbrokes, Hansteen
Monday 11 Mar 2013
Anite yesterday issued a cautious trading statement, but the market seems to have overreacted. More than anything else, the company seems to have wanted to rein in analysts, so as to avoid further earnings upgrades for this year and next, The Times´s Tempus writes. But coming into the trading statement at 20 times this year´s earnings the above was enough to knock the shares off their perch.
London midday: Markets cautious after mixed economic data
Monday 11 Mar 2013
The FTSE 100 was trading within a narrow range on Monday morning as traders remained cautious following a barrage of mixed economic data over the past few days.
German exports beat consensus
Monday 11 Mar 2013
Germany reported a larger-than-expected increase in exports in January as its economy attempts to rebound from the fourth quarter contraction.
Broker snap: Cantor upbeat about Ashtead on US optimism
Monday 11 Mar 2013
Cantor Fitzgerald reiterated its 'buy' recommendation and 650p target price for construction firm Ashtead after recent forecast-beating jobs data from the US.
London open: Italian downgrade weighs on markets early on
Monday 11 Mar 2013
UK markets opened cautiously on Monday as sentiment was dampened by Fitch Ratings, which downgraded its credit rating for Italy in the aftermath of an inconclusive election.
IAG accepts mediator’s proposal for Iberia
Friday 08 Mar 2013
International Airlines Group has issued a statement saying that it has opted to accept a proposal put forth by a mediator regarding its Spanish airline division Iberia.
esure to be valued at 1.15bn pounds in stock market debut
Friday 08 Mar 2013
UK online insurance venture esure’s initial public offering (IPO) in London later this month will be the biggest stock-market debut so far this year, valuing the company at around 1.15bn pounds.
Chinese monetary policy loose but growth slowed in February
Friday 08 Mar 2013
Macroeconomic data released in China over the weekend shows that monetary conditions remain loose even if growth momentum has slowed. Even so, for some economists – such as those at Nomura - the projected rise in inflation, to above 3.5 per cent in June, means that authorities will begin to tighten monetary policy later in the year.
Tuesday newspaper round-up: IAG, Lloyds, Funding for Lending...
Friday 08 Mar 2013
The Independent says that British Airways owner International Airlines Group (IAG) won a major battle with labour unions yesterday, ending the threat of industrial action at its Spanish unit Iberia with an agreement that will save it 250m euros per annum. IAG has accepted a Spanish government mediator's plan to reduce its job cuts target from 3,800 staff to 3,141. Unions are said to be close to
Market overview: US non-farm payrolls beat expectations
Friday 08 Mar 2013
1330: US non-farm payrolls increased by 236,000 in February (Consensus: 165,000). The unemployment rate fell to 7.7 per cent from 7.9 per cent in the month before (Consensus: 7.9 per cent). Average hourly earnings rose by 0.3 per cent (Consensus: 0.2 per cent).
Talvivaara shareholders approve issue of 26bn shares
Friday 08 Mar 2013
Talvivaara Mining announced Friday that following an extraordinary general meeting (EGM) the group voted through a proposal to allow the board to undertake a share issue of 26bn shares.
Sunday share tips: Prudential, Diageo, TUI Travel
Friday 08 Mar 2013
Over the last five years Prudential benefitted greatly from its expansion in southeast Asia, as the region´s middle class emerged. Helping matters was the lack of a social safety net and free health services in these countries, which stoked demand for the company´s insurance products. Thus, in the last five years the insurer´s share price has quintupled, with its market capitalisation now twice
London midday: Stocks rise as market prices in strong US jobs data
Friday 08 Mar 2013
Markets maintained their positive bias on Friday morning as traders showed confidence ahead of a key reading of labour-market strength in the US later on, the February employment report.
Broker snap: UBS upgrades Schroders as headwinds reduce
Friday 08 Mar 2013
UBS has upgraded its rating for asset management firm Schroders from 'sell' to 'neutral' and hiked its target price from 1,700p to 2,050p, saying that the company as 'strong momentum' now that headwinds are starting to come off.
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