Editor's Picks
Metric Property snaps up a redevelopment site for £11m
Tuesday 28 Jun 2011
Metric Property Investments, a retail real estate investment trust, said it has conditionally exchanged on the acquisition of a redevelopment site in Bishop Auckland in Count Durham for £11m.
US midday: Strong gains ahead of Greek vote?
Tuesday 28 Jun 2011
The main US equity benchmarks are now registering gains of nearly 1.0% on average (Dow Jones: 111, Nasdaq Comp.: 28, S&P 500: 11). Nonetheless, although quite a few economists seem to expect Greece to approve the new austerity measures which its Parliament is now debating one cannot forget that there is always the risk that something may go awry, indicate analysts at Digital Look.
WSP stumbles after profit warning
Tuesday 28 Jun 2011
Shares in engineering consultant WSP took a tumble on Tuesday after it announced that 2011 profits will be lower than the prior year, as a result of a public sector “tightening” in the UK.
Europe afternoon: Stocks relinquish gains
Tuesday 28 Jun 2011
After a confident opening, European shares are now mixed, with prices turning lower on expectations of a weak opening on Wall Street.
London midday: Stocks gain on euro hopes
Tuesday 28 Jun 2011
Stocks are still going well on hopes that the Greek crisis will soon be acted on.
GDP outlook weaker but inflation risks remain, says Bank's Dale
Tuesday 28 Jun 2011
The outlook for economic growth has weakened since the start of the year, but inflation remains a risk, according to the Bank of England’s (BoE) chief economist Spencer Dale. Dale, who has been voting for a rise in interest rates to 0.75% from the current level of 0.5% in recent BoE meetings, noted that “growth around the end of last year slowed and ...
Daisy's rosy outlook lifts spirits
Tuesday 28 Jun 2011
Telecom and hosting services provider Daisy Group reported a slightly wider pre-tax net loss from continuing operations for the year but provided a rosy outlook for the year ahead that lifted investor spirits.
Morgan Stanley deems Spanish banks ready for Basel III
Tuesday 28 Jun 2011
Spanish banks BBVA (+1.20%) and Santander (+1.63%) rose this morning following Morgan Stanley’s evaluation of their “readiness” for Basel III, as reported by Expansion.
Afferro to increase resources in Africa iron ore projects
Tuesday 28 Jun 2011
Gold and iron ore exploration group Afferro Mining posted a first-quarter loss and said it will focus on developing its resources at Putu in Liberia and Nkout in Cameroon in remainder of 2011.
Premium tips: Premier Oil, WSP, Wolfson...
Tuesday 28 Jun 2011
UBS slashed its target price for oil exploration company Premier Oil by almost a quarter, saying that its disappointment on the Tuna A prospect “leaves little to get excited about”. However, UBS suggests that any pull-backs below core NAV of 443p should signal buying opportunities. A buy rating is maintained, but the target price is cut from 638p to 485p, around a 10% premium to core NAV.
PV Crystalox wilting in the sun
Tuesday 28 Jun 2011
PV Crystalox Solar, the struggling solar power manufacturer, is warning it could make an operating loss in the second half of 2011.
Goldman reshuffles recommendations on insurers
Tuesday 28 Jun 2011
Goldman Sachs made important changes to its view on several of the main UK life assurance companies on Tuesday, according to reports, due to what it seems to think is a trend towards a greater commoditisation of the industry´s products.
Europe open: TomTom losing its way
Tuesday 28 Jun 2011
Indices across the European mainland are in positive territory, as optimism grows that the austerity package will be approved by the Greek parliament this afternoon.
UK GDP comes in below estimates, production revised down
Tuesday 28 Jun 2011
Gross domestic product (GDP) grew by 0.5% in the latest quarter, unrevised from the growth estimate previously published, according to the latest data out from the Office of National Statistics. In on year terms however the rate of growth has been revised down to 1.6%, from the previous estimate of 1.8%.
Tuesday tips round-up: Wolfson, Cohort, British Land
Tuesday 28 Jun 2011
Chip group Wolfson Microelectronics said, ahead of the interim figures on July 25, that second-quarter revenues would be at the bottom end of forecasts of $37m (£23m) to $39m and that revenues would grow during 2011 by 10% to 20%, against earlier market forecasts of about 30%. Various unnamed customers have decided to rein back on production of new tablet PCs because of the uncertainty over
Carpetright axes payout as profits slide
Tuesday 28 Jun 2011
Carpetright axed its dividend after a sharp fall in sales and profits in the year to 30 April and says it sees “no respite” from the tough trading conditions that are hurting the carpet and flooring retailer.
C&W Worldwide warns on profits again
Tuesday 28 Jun 2011
Cable & Wireless Worldwide’s chief executive Jim Marsh is to step down after the telecommunications group concluded profits are likely to fall short of previous expectations due to slower than expected sales so far this year.
London pre-open: Cautiously firmer
Tuesday 28 Jun 2011
Today is yet another big day for Greece, and therefore the future of the eurozone, with the country's parliament set to vote on the package of austerity measures that the country needs to implement if it is to get the next tranche of bailout money from the European Union and the International Monetary Fund.
Commodities: Europe and US split, gold down
Tuesday 28 Jun 2011
It was a mixed picture for commodities on Monday as US indices absorbed weak consumer news while European markets dwelt on supply issues created by the Libya conflict and, of course, Greece. The American benchmark West Texas Intermediate for August delivery fell 0.27% to $90.91 in late trading in New York.
US close: Stocks gain as euro worries fade
Monday 27 Jun 2011
Stocks finished with good gains amid hopes that Greece’s parliament will pass austerity measures, averting a Eurozone crisis and allowing global markets to shift their focus from that tiny country. The Dow Jones finished up 108 at 12,043, the S&P 500 finished 11 higher at 1,280 and the tech-heavy NASDAQ gained three to 2,252.
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