Editor's Picks
FX round-up: Euro makes gains but fears persist
Thursday 30 Jun 2011
On the currency markets the saga of the euro continued as the shared currency made gains following the Greek parliament's decision to pass a round of austerity cuts.
Commodities: Oil reserves slide
Thursday 30 Jun 2011
Oil staged a significant rally Wednesday as worries over Greek debt subsided while inventories in the US appeared to be placing pressure on the upside.
Premium broker snap: Peel Hunt upgrades Charter to buy
Thursday 30 Jun 2011
Peel Hunt upgraded engineering firm Charter International from hold to buy, following yesterday’s bid from sector peer Melrose.
Thursday newspaper round-up: LSE/TMX, Myspace, Banking jobs...
Thursday 30 Jun 2011
The London Stock Exchange dropped its £2.44 billion takeover bid for TMX Group of Canada last night after it became clear that TMX shareholders would not back the tie-up. The collapse of the takeover, which was integral to the turnaround stategy of the LSE chief executive Xavier Rolet, leaves the London bourse humiliated and, in the medium term, vulnerable to foreign predators, according to the
London close: Big gains after Greek vote
Wednesday 29 Jun 2011
Stocks finished with hefty gains after the Greek parliament voted to pass austerity measures. The vote had been widely expected, but nevertheless prompted a large sigh of relief from investors. In stocks news, most excitement was in the FTSE 250, with Charter International now the top riser the engineer Melrose said it had approached its rival about making a 780p offer yesterday.
Greek bond yields decline after vote
Wednesday 29 Jun 2011
Greek bonds soared after the debt-stricken country’s MPs voted to pass the country’s controversial austerity measures - as markets expected - imperative to the nation escaping a default on its sovereign debt. “Now is time for big change,” said Prime Minister George Papandreou in a speech in parliament on Wednesday before the critical vote on budget cuts, pay cuts and tax reforms.
Sector movers: Charter rockets, engineers higher
Wednesday 29 Jun 2011
The industrial engineering sector was making gains on Wednesday, as Charter International recovered from last week’s sell-off. Engineering conglomerate Melrose has been in discussions with rival Charter about making a possible 780p-a-share offer for the company, it confirmed today. The offer values Charter at about £1.3bn.
Layoffs for Credit Suisse, Barclays, and Goldman Sachs
Wednesday 29 Jun 2011
The recent drop in business activity has led some financial entities to reduce personnel in their financial divisions, according to information released today.
US close: Banks, Greece boost gains for third day
Wednesday 29 Jun 2011
US markets finished higher for the third straight day, helped by banking stocks, following Bank of America's mortgages settlement. Also helping sentiment was the situation in Greece, which has slightly improved after the government was able to pass austerity measures.
FTSE 100 movers: ICAP surges nearly 7%
Wednesday 29 Jun 2011
ICAP was the high riser of the day, gaining nearly 7% as of 15:18 on Wednesday afternoon. Shares in the world’s largest interdealer broker were trading 31.4p higher at 467.9p, attempting to recover from its performance over the year to date. In mid-January, the share price was around the 560p level.
BoE's Tucker takes aim at "non-banks"
Wednesday 29 Jun 2011
Something needs to be done about finance companies that act like banks without being facing the same regulations, according to the Bank of England deputy governor Paul Tucker.
Final countdown for Rank
Wednesday 29 Jun 2011
Following the shock resignations on Tuesday of chief executive Ian Burke and finance director Paddy Gallagher, the independent directors of gaming group Rank have had another change of heart over the bid from Guoco Group.
Broker snap: Barclays still bullish on airlines
Wednesday 29 Jun 2011
The European airline sector is benefiting from the recent drop in crude oil prices, according to Barclays Capital, providing an extra reason to remain bullish on the sector.
Greece votes 'ναί' to austerity plan
Wednesday 29 Jun 2011
As protests and violence in Athens escalated, Greece’s MPs voted to pass the country’s controversial austerity measures - as markets expected - imperative to the nation escaping a default on its sovereign debt. “Now is time for big change,” said Prime Minister George Papandreou in a speech in parliament on Wednesday before the critical vote on budget cuts, pay cuts and tax reforms.
US pre-open: Stocks to gain as Greece passes austerity measures
Wednesday 29 Jun 2011
US stocks are set for big gains again after Greece’s parliament voted in favour of austerity measures.
London midday: More gains as Melrose approaches Charter
Wednesday 29 Jun 2011
Stocks are posting big gains as investors pin their hopes on the Greek parliament voting in favour of austerity measures later today.
Europe midday: Stocks shrug off consumer sentiment fall
Wednesday 29 Jun 2011
A solitary laggard among CAC 40 index constituents is blotting the copybook in Paris but in Frankfurt the DAX constituents are still showing a clean bill of health, as European markets continue their recent revival.
Oilex closer to unlocking potential of gas assets in India
Wednesday 29 Jun 2011
Oilex said it has moved closer to “unlocking the potential” of the Cambay-76H tight reservoir well in India, which sent shares of the oil and gas explorer up 9% on Wednesday.
Iberdrola Renovables, Areva partner for French wind-power bid
Wednesday 29 Jun 2011
Iberdrola Renovables and Areva will present a joint offer for two of the five zones being offered for offshore wind-power development by the French government. Both companies signed an agreement for the joint development of offshore wind-power projects in France.
Train upgrade contract lights up LPA
Wednesday 29 Jun 2011
Shares in lighting, power and electronics system manufacturer LPA raced ahead after it said it had won a contract to upgrade control panels used by drivers on trains operating in the southeast of England.
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