Editor's Picks
Utilities outperform FTSE100
Friday 13 Mar 2009
Since the beginning of 2003 and the creation of the Utilities (Gas, Water) sector the FTSE100 has gone from lows of 3278, to highs of 6754 and back again to lows of 3460 this week, which means that if you had invested money in a tracker fund you would probably be worse off.
More woe for Eidos with delay to CM
Friday 13 Mar 2009
Computer games publisher Eidos delivered more bad news today with a delay to the latest version in the best seller Championship Manager series.
Drug majors put on bid alert
Friday 13 Mar 2009
The decision by six of the world’s largest drug companies to pair off in a trio of mega mergers worth way over £100bn has prompted speculation that a tie up between Britain’s big two is just around the corner.
New Lloyds executive given 1m shares
Friday 13 Mar 2009
A new senior executive at Lloyds Banking Group, one of the of the beneficiaries of the government’s recent banking bail-out, has been awarded the option to acquire nearly 1m shares at no cost.
John Lewis sales drop for 7th week
Friday 13 Mar 2009
Latest figures from John Lewis have revealed a seventh consecutive drop in weekly sales at its department stores, although that’s nowhere near as bad as the 10.3% plunge a week earlier.
Shell says it can maintain divi and growth
Friday 13 Mar 2009
Oil explorer Shell said it has balance sheet flexibility to maintain investment and grow dividends in the downturn and to fund future growth projects. Dividends for 2009 are expected to be around $10bn, a 5% increase of Q1 2009 dividend per share compared to Q1 2008 levels. Shell will also invest around $31-$32bn in 2009 in its portfolio.
UK to push for tough new bank regulation
Friday 13 Mar 2009
UK chancellor Alistair Darling is to call for radical powers for financial regulators to intervene directly to stop banks around the world getting into the problems that precipitated the current credit crunch. Reports said Darling will put the idea forward at the G20 summit next month. Individual country regulators should monitor the overall financial positions of banks and other institutions
JD Wetherspoon profits up 2%
Friday 13 Mar 2009
JD Wetherspoon has posted half year figures pretty much in line with expectations and says its pubs have continued to trade well since the end of the period.
Madoff denied bail after guilty plea
Thursday 12 Mar 2009
Bernard Madoff was remanded in custody after he pleaded guilty to running a huge Ponzi scheme in one of Wall Street's biggest frauds ever. The 70-year-old pleaded guilty to all eleven charges including money laundering, perjury and fraud as he appeared in front of a New York Court. The charges carry a maximum sentence of 150 years.
Value range lifts Wm Morrison profits
Thursday 12 Mar 2009
Supermarket chain Wm Morrison saw pre-tax profits rise 7% and hiked dividends by 21% as more customers defected from rivals for its value range food.
FSA chief signals regulatory clampdown
Thursday 12 Mar 2009
Hector Sants, the head of the FSA, has warned the UK's financial services industry to be "very frightened" of the UK financial regulator in a speech signalling the end of "light-touch" principles-based regulation.
Madoff pleads guilty to $50bn fraud
Thursday 12 Mar 2009
Bernard Madoff is facing the prospect of spending the rest of his life behind bars after he pleaded guilty to running a huge Ponzi scheme in one of Wall Street's biggest frauds ever.
Value range lifts Morrisons profits
Thursday 12 Mar 2009
Supermarket chain Wm Morrison saw pre-tax profits rise 7% and hiked dividends by 21% as more customers defected from rivals for its value range food. The group also said the capital originally earmarked for share buy-backs in the 2009/10 financial year should be retained for future investment opportunities. Around 550,000 more customers per week went to its
LSE leaves FTSE 100 in latest reshuffle
Wednesday 11 Mar 2009
London Stock Exchange Group is just one of five big names set to exit the UK’s blue-chip stock market index in the latest quarterly reshuffle of the constituents of the FTSE 100. Also on the way out are private equity group 3i. train operator FirstGroup, sugar producer Tate & Lyle and builders’ merchant Wolseley.
John Lewis profits dive, bonuses cut
Wednesday 11 Mar 2009
John Lewis Partnership saw annual profits tumble 26% and slashed staff bonuses as it warned trading conditions remained tough with sales in the current year down.
Bank of England creates £2bn of 'new' money
Wednesday 11 Mar 2009
The Bank of England has successfully pumped almost £2bn of extra money into the financial system in the hope it will convince banks to lend more money. A complicated ‘reverse auction’ process attracted offers from commercial banks to sell £10.5bn worth of gilts, or government bonds, to the central bank, of which a fraction under £2bn was accepted.
Bank of England creates £2bn of 'new' money
Wednesday 11 Mar 2009
The Bank of England has successfully pumped almost £2bn of extra money into the financial system in the hope it will convince banks to lend more money. A complicated ‘reverse auction’ process attracted offers from commercial banks to sell £10.5bn worth of gilts, or government bonds, to the central bank, of which a fraction under £2bn was accepted.
Bank of England creates £2bn of 'new' money
Wednesday 11 Mar 2009
The Bank of England has successfully pumped almost £2bn of extra money into the financial system in the hope it will convince banks to lend more money. A complicated ‘reverse auction’ process attracted offers from commercial banks to sell £10.5bn worth of gilts, or government bonds, to the central bank, of which a fraction under £2bn was accepted.
FTSE 100 - turning point or sucker's rally?
Wednesday 11 Mar 2009
On the 21 October last year when the FTSE had traded below 4000 for the first time in 5 years, I suggested that the current down move was due a correction on the basis that the price had drifted too far away from its 200 day moving average.
John Lewis profits dive, bonuses cut
Wednesday 11 Mar 2009
John Lewis Partnership saw annual profits tumble 26% and slashed staff bonuses as it warned trading conditions remained tough with sales in the current year down.
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