Editor's Picks
Midday: A US ratings downgrade is now expected by some
Tuesday 26 Jul 2011
The main US equity benchmarks are now trading ‘mixed’ (Dow Jones: -35, Nasdaq Comp.: +7, S&P500: -0), following a barrage of economic data this afternoon. Acting as a backdrop, investors are still waiting for an agreement out of Washington as regards cutting the budget deficit. Of interest, perhaps, in an interview with CNN the head of the National Economic Council, Gene Sperling, has indicated
Premium broker snap: Panmure previews insurers’ first half
Tuesday 26 Jul 2011
Panmure Gordon has issued a preview note for the UK insurance reporting season, noting that the partial re-rating of the UK insurance sector (that occurred early in 2011) has “fizzled out”.
Noyer maintains anti-inflation rhetoric
Tuesday 26 Jul 2011
In an interview published in the Financial Times Deutschland, Bank of France governor Christian Noyer said that the European Central Bank (ECB) is in a state of "strong vigilance" towards the control of inflationary pressures. He indicated that the main threat is from rising commodity prices and higher taxes in some Euro Zone countries.
Europe midday: Banking giants disappoint
Tuesday 26 Jul 2011
Leading shares are still seeking direction, as investors scratch their heads at the game of brinkmanship being played in Washington over the raising of the US debt ceiling.
African Barrick Gold reports a strong rise in profits
Tuesday 26 Jul 2011
Tanzania’s largest gold producer, African Barrick Gold, has today unveiled a 54% increase in its net profit for the second quarter of the year, until the past 30th of June, to $69.77m. The above on the back of a 39% rise in revenues, to $311.76m. The company’s operational cash flow improved to $186m, an increase of 18% on that for the first half of 2010.
London midday: FTSE 100 seeks direction after news flurry
Tuesday 26 Jul 2011
The top shares index sits just in the red with a flurry of updates failing to provide a definite sense of direction.
Charter reports rise in profits, but problems at ESAB
Tuesday 26 Jul 2011
Global engineering firm Charter International managed to grow profits by 3.1% in its first half, as forecast-beating figures from Howden were partly offset by an “unacceptable” performance at ESAB.
Adverse weather conditions trims Xstrata's coal production
Tuesday 26 Jul 2011
Mining giant Xstrata’s coal production fell slightly in the first half of the year, partly due to the severe floods in Queensland, while total copper production was unchanged from the year before. For the six months ended 30 June, total mined copper production was 434,046 metric tonnes, compared to 434,147 metric tonnes recorded last year. Coal production dipped marginally to 38.5m tonnes
Temporary factors hit growth, says RBS
Tuesday 26 Jul 2011
UK growth would have been much higher than the ”meagre” 0.2% rate seen in the second quarter but for a few one-off factors, according to the Royal Bank of Scotland (RBS).
Daily Mail group still feeling the squeeze
Tuesday 26 Jul 2011
Daily Mail publisher DMGT continues to cut jobs amid persistent weak advertising revenues in its newspaper business.
BP profits rise disappoints
Tuesday 26 Jul 2011
The rising price of oil and gas boosted BP’s profits in the second quarter, though the benefits were partially offset by lower production as a result of the oil spill in the Gulf of Mexico. Production of 3.43m barrels of oil equivalent a day was down by 11% from the same period the previous year “primarily reflecting the ongoing impacts to Gulf of Mexico production."
Europe open: Stocks seeking direction
Tuesday 26 Jul 2011
European markets have opened in hesitant fashion, as investors wait to see whether US politicians can settle their differences and agree on a package that will enable the US debt ceiling to be raised.
London open: Oil stocks pull FTSE 100 both ways
Tuesday 26 Jul 2011
London has got off to a quiet start overall but there is plenty of corporate news for traders to digest and stocks are moving in both directions.
London pre-open: Footsie little moved by big results
Tuesday 26 Jul 2011
Despite a gush of results from some index heavyweights, the blue-chip index is set to open barely changed.
Tuesday tips round-up: Reckitt Benckiser, Electrocomponents, Persimmon
Tuesday 26 Jul 2011
Analysts had two concerns over the halfway figures from Reckitt Benckiser — the tough market for personal care products in Europe and the slow adoption of its film version of the heroin substitute Suboxone. European sales were down 1% on a like-for-like basis in the first half and down 2% in the second quarter. The shares are selling on 14 times this year’s earnings, which suggests little upside
Squeezed Cranswick warns on profits
Tuesday 26 Jul 2011
Pork products supplier Cranswick expects full-year results to fall short of expectations as it continues to face high input costs and a weak consumer environment.
IMPs ups outlook for Spain after price rises
Tuesday 26 Jul 2011
The struggling Spanish market remains a special case for cigarettes maker Imperial Tobacco (IMPs), but a round of price increases means the company's operating profits from this market should not be as depressed as previously indicated.
ARM packs a punch
Tuesday 26 Jul 2011
Second quarter earnings per share (EPS) from chip designer ARM were well ahead of expectations, as demand for the company's technology continues to grow. The market had been expecting normalised EPS of 2.43p, but ARM delivered EPS of 2.98p, up 27% from 2.34p in the second quarter of 2010..............
Tuesday newspaper round-up: Ryanair/Stansted, Bank of Ireland, US debt negotations
Tuesday 26 Jul 2011
Ryanair expects to act as “kingmaker” in the £1bn sale of Stansted airport. The airline accounts for about two thirds of the airport’s traffic and it wants a say in who buys it.The Competition Commission wants to break up BAA’s monopoly control of airports in the South East and Scotland and last week reiterated a ruling that it should sell Stansted and either Edinburgh or Glasgow, reports the
US close: Stocks dive ahead of Obama comments
Monday 25 Jul 2011
Stocks finished firmly in the red amid ongoing wrangling over how to solve the world’s biggest economy’s debt burden.
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