Editor's Picks
Market overview: IMF report lifts shares
Monday 06 Jun 2011
1405: For once, the FTSE 100 seems to have moved sharply on the back of UK, rather than global, economic news. The IMF has backed chancellor George Osborne's spending plans, which have come in for a bit of stick lately. Despite a poor opening on Wall Street, London's leading share index is up by 15 points at 5,970.
US Midafternoon: Banks down, Aerospace up
Monday 06 Jun 2011
The DJI is off the day’s lows, but not so the Nasdaq Comp. and the S&P 500 (Dow Jones Industrials: -41 Nasdaq Comp.: -17, S&P 500: -10). The above despite the sharp losses seen on the main US equity benchmarks last Friday, which pushed the main indices down towards very important medium-term support levels. In fact, the S&P 500 may now be in the process of losing one, in the 1294 point area, on
Melrose set to sell Dynacast for $590m
Monday 06 Jun 2011
Engineering conglomerate Melrose is set to dispose of its precision die cast components division, Dynacast, to KDI Holdings for a consideration of $590m.
Premium broker snap: Credit Suisse raises target at Moneysupermarket.com
Monday 06 Jun 2011
Credit Suisse has raised its target price for Moneysupermarket.com by 15%, saying that it expects its first half results to reflect sustained strong topline growth.
Expansys warns on profits, trading in UK and Europe
Monday 06 Jun 2011
Online consumer technology retailer Expansys has this morning announced that it will not meet previous profit guidance for the financial year ending on the past 30th of April. The above has been due, mainly, to, “weak trading conditions in UK and Europe”; although some of its divisions’ financial metrics will come in better than expected.
Cluff Gold latest to suffer labour dispute
Monday 06 Jun 2011
Cluff Gold has confirmed that ‘an illegal labour dispute’ has interrupted production at its Kalsaka mine in Burkina Faso.
US Preopen: Stocks may open slightly down
Monday 06 Jun 2011
The main US equity benchmarks are being called to open down by 0.2% on average. This following sharp losses on the main US equity benchmarks last Friday which pushed the main indices down towards very important medium term support levels.
Broker tips: Johnson Matthey, Aegis, Elementis
Monday 06 Jun 2011
Credit Suisse keeps its ‘neutral’ rating and 2,200p target price on speciality chemicals group Johnson Matthey, as positivity in short-term drivers is met with the broker’s cautious stance on the group’s balance sheet.
Europe open: Airlines, tech stock drag bourses lower
Monday 06 Jun 2011
European equities have opened off the mark, with aviation and technology stocks providing a drag in early trading.
EXPANSYS warns on profits amid tough UK trading
Monday 06 Jun 2011
Online Smartphone retailer EXPANSYS expects to report a smaller pre-tax profit than previously anticipated for the year to 30 April amid tough trading in Britain.
Market overview: IAG flying lower
Monday 06 Jun 2011
0950: Airline IAG is under a cloud after the International Air Transport Association scaled back its profit guidance for the industry by over a half as a result of elevated oil prices, ongoing problems in the MENA region and the aftermath of the events in Japan. FTSE 100 down 18 at 5,837.
'Economists' letter to Observer slammed.
Monday 06 Jun 2011
A letter to a Sunday newspaper from a group of academics calling for a 'Plan B' for Britain's economy has been dismissed by a right wing think tank. The Adam Smith Institute said only 15 of the 52 signatories were 'practising mainstream economists', compared to more who were campaigners or experts in areas such as social policy, organisational studies and culture.
London pre-open: Stocks to fall back
Monday 06 Jun 2011
Shares are seen down this morning, with the top share index losing 25 points to 5,830.
Mostly good news for the Euro Zone periphery?
Monday 06 Jun 2011
Investors seem to have woken up this morning to what at first glance looks like what may be good news for the Euro Zone’s periphery.
Diageo invests $225m in Kenyan brewer
Monday 06 Jun 2011
Spirits brands owner Diageo is set to acquire SABMiller's stake in a Kenyan brewery firm for around $225m. Through its subsidiary East African Breweries Limitied (EABL), Diageo - famous for its brands Smirnoff and Guinness - will buy a 20% stake from SABMiller's African subsidiary in Kenya Breweries Limited (KBL) for a cash consideration of 19.53bn Kenyan shillings.
Aegis confirms talks with Ipsos
Monday 06 Jun 2011
Media buyer and market research group Aegis has confirmed speculation that it is in talks with the research think tank Ipsos about a “potential transaction” of Aegis’s market research business Synovate.
Diageo invests $225m in Kenyan brewer
Monday 06 Jun 2011
Spirits brands owner Diageo is set to acquire SABMiller's stake in a Kenyan brewery firm for around $225m.
Mostly good news for the Euro Zone periphery?
Monday 06 Jun 2011
Investors seem to have woken up this morning to what at first glance looks like what may be good news for the Euro Zone’s periphery.
Monday newspaper round-up: Britain/IMF, Drug companies, Portugal...
Monday 06 Jun 2011
The Chancellor faces a crucial test on Monday as the International Monetary Fund (IMF) gives its verdict on the British economy, amid a chorus of calls for the Government to adopt a "plan B" to safeguard fragile-looking growth. The IMF judgment loomed as top economists leapt to the defence of the Coalition's austerity plans after some 50 academics signed a letter over the weekend calling for the
Sunday newspaper tips round-up: Rio Tinto and WPP
Saturday 04 Jun 2011
The Questor team at The Sunday Telegraph has weighed in this weekend in favor of Rio Tinto shares, because they consider them to be cheap. To back up their arguments they cite research from analysts at Citi and RBS. Thus, the former have recently pointed out that, “Over the past 10 years, BHP and Rio have traded on about the same multiples.” Now, however, Rio is trading on a multiple of 6.7
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