Editor's Picks
Sector movers: Weir claws back after recent sell-off
Friday 12 Aug 2011
For the second day in a row, there were no sectors in the red on Friday, as markets in London, Europe and the US were all posting impressive gains, clawing their way back from the recent global sell-off.
US open: Wall Street jumps after retail boost
Friday 12 Aug 2011
Stocks have moved higher in early dealings after some well received retail sales data.
Range rises on encouraging test drilling
Friday 12 Aug 2011
International oil and gas company Range Resources said that logs from test drilling on its jointly-owned Mukhiani Well in the republic of Georgia confirmed the anticipated nature of the rocks at the targeted depth. The Mukhiani Well is targeting the Vani 3 prospect which has proven reserves of 41m barrels of oil in place.
London midday: Stocks snap out of weak start
Friday 12 Aug 2011
London’s leading share index is posting strong gains now, in line with mainland European bourses following the short selling ban.
Europe midday: Franc's retreat boosts Swiss equities
Friday 12 Aug 2011
European markets continue to demonstrate the same sort of consistent direction as a confused wildebeest that has just escaped the jaws of a crocodile, with most major benchmarks firmly higher after an indifferent opening.
Premium broker snap: Ocado's 'catching a falling knife', says Panmure
Friday 12 Aug 2011
Ocado, the FTSE 250 grocery retailer which recently saw its earnings forecasts downgraded by its own broker, is “catching a falling knife”, according to Panmure Gordon who has reiterated its sell rating on the stock.
FTSE 250 Movers: Sports Direct upgraded after OFT decision
Friday 12 Aug 2011
Sports Direct International saw its share price head north after the Office of Fair Trading (OFT) provisionally dropped its investigation into alleged anti-competative methods in the sports retail sector. "The OFT will carefully consider any comments that it receives before reaching a final decision," the regulators said. "We expect to reach a final decision later this year."
US newspaper round-up: Dow, Postal Service, Wal-Mart...
Friday 12 Aug 2011
Adding another record to a week already packed with records, the Dow Jones industrial average has moved at least 400 points on four consecutive days for the first time in history. Thursday, the Dow snapped back from its worst loss of the bull market with a 423-point rise to 11,143, providing investors a much-needed respite from a week of brutal selling, including a 520-point plunge Wednesday, USA
Market overview: FTSE 100 rally continues
Friday 12 Aug 2011
1050: The rally continues, with bank Barclays the top riser, climbing in sympathy with European banks, which are higher following the short-selling ban in France, Italy, Spain and Belgium. Lloyds Banking Group and RBS are also wanted. Miners Kazakhmys and Vedanta are in demand too. FTSE 100 up 87 at 5,250.
SVG backs a winner in Permira
Friday 12 Aug 2011
International private equity investor and fund management business SVG Capital gave the FTSE All-Share index a caning in the first half of 2011, though much of the credit belongs to Permira, in whose funds the company is heavily invested.
Europe open: Markets calm after short-selling ban
Friday 12 Aug 2011
After a yo-yo week in the markets, Friday sees investors in stock-taking mode, with most of the major indices making modest progress after France, Italy, Spain and Belgium acted yesterday to ban all short selling of financial stocks for 15 days in response to sharp share price falls this week.
London open: Oil stocks drag Footsie into the red
Friday 12 Aug 2011
Shares picked up after a steep decline in the opening minutes, but the FTSE 100 was still trading 0.7% down by 08.39am, as London looks set to experience another day of volatile trade. Oil-related stocks were on the fall in early trade as the price of Brent Crude fell 0.85% to $107.10 per barrel at the open. Tullow Oil, Amec and Petrofac were among the worst performers.
NotW closure sees Trinity titles reverse sales decline
Friday 12 Aug 2011
Newspaper publisher Trinity Mirror was playing it coy on Friday in its interim results, alluding to 'changes to the national Sunday newspaper market' prompting 'considerable circulation volume growth' for its Sunday titles. "The benefits are evident in the improved group circulation revenues in July which are up 2% year on year with our Nationals up 4%," the company said.
EnQuest doubles revenue as oil prices rocket
Friday 12 Aug 2011
EnQuest, the FTSE 250 oil and gas firm, saw profits surge 145% on sales that doubled in the first half of 2011, and says it remains on target to achieve its full-year production forecasts.
London pre-open: Stocks set for indecisive start
Friday 12 Aug 2011
Sentiment is clearly volatile ahead of the opening, with earlier expectations of a 50 point gain for the Footsie at the outset giving way to a forecast of a rise in single figures, despite yesterday's strong showing on Wall Street. Oil and gas company Premier Oil is to plug and abandon its Belut-Laut 1 exploration well in the Tuna block, Indonesia.
Commodities: Gold price takes a knock
Friday 12 Aug 2011
After days of performing well amid the widespread economic instability, gold took a big step back, falling 1.8% on Thursday.
FX Round-up: Swiss franc plunges
Friday 12 Aug 2011
Economic strife and market fragility has made currency markets volatile, prompting risk averse investors to seek the sanctuary of the Swiss franc this week, but on Thursday the Swiss National Bank (SNB) signalled that it was tiring of seeing the Swiss currency appreciating.
Friday tips round-up: Lloyds, Anglo Pacific, Greggs...
Friday 12 Aug 2011
Lloyds makes most its profit in the UK, and the news on the British economy has been fairly grim. Like all UK banks, it also faces regulatory uncertainty. It has to sell 632 branches under its competition agreement with the EU and the Independent Commission on Banking (ICB) wants it to offload a further big chunk. All the while, low interest rates have compressed the net interest margin, and
Friday newspaper round-up: Short-selling, Osborne, FSA...
Friday 12 Aug 2011
France, Italy, Spain and Belgium have banned all short selling of financial stocks for 15 days in response to sharp share price falls this week, but they failed to convince other regulators to go along with a European Union-wide prohibition. The bans on the controversial practice where investors aim to profit from price falls will take effect on Friday morning.
US close: Dow rebounds with another 400 point move
Thursday 11 Aug 2011
US stocks bounced back with a vengeance, with better than expected US jobless figures encouraging investors to put fears about the debt crisis in the Eurozone to the back of their thoughts. The Dow closed up 423 points at 11,143, the NASDAQ Composite rose 111 to 2,492, while the S&P 500 was 52 higher at 1,172.
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