Editor's Picks
London close: Banks recover as Footsie gains 0.65%
Tuesday 19 Jul 2011
The banking sector was winning back investor confidence on Tuesday as shares sharply rebounded, lifting the top share index close to the 5,800 level. Lloyds, RBS and Barclays were in demand, following the sector sell-off yesterday on the back of concerns over the softness of last week’s European banking stress tests.
FTSE 100 movers: Banks, miners drive Footsie higher
Tuesday 19 Jul 2011
Lloyds, RBS and Barclays were in demand, following the sector’s sell-off yesterday on the back of concerns over the softness of last week’s European banking stress tests.
WPP buys into mind-reading firm
Tuesday 19 Jul 2011
Advertising firm, WPP, announced it had invested US$3m for a minority stake in Affectiva, a technology firm that specialises in measuring the emotional responses of consumers. The company said that Kantar, its subsidiary, and Affectiva would be able to take advantage of their combination of survey-based and technology enabled observational data.
A silver lining to the banking stress tests?
Tuesday 19 Jul 2011
The stress tests conducted by European regulators were released on Friday evening and were greeted with much wailing and gnashing of teeth by analysts and commentators.
Merkel tempers optimism regarding European summit
Tuesday 19 Jul 2011
In remarks this afternoon German chancellor Angela Merkel downplayed the chances that this Thursday´s eurozone summit will resolve Greece´s debt crisis, according to the BBC.
Sales at 21st Century Tech jump 39%
Tuesday 19 Jul 2011
Public transport CCTV company 21st Century Technology recorded a 39% growth in sales in the first half, helped by a significant contract with Swedish bus operator Keolis Sverige.
Government to simplify debt advice labyrinth
Tuesday 19 Jul 2011
Business minister Edward Davey said a radical shake-up of the government's insolvency service is not required, though some improvements are on the cards. Responding to calls to improve standards of debt management, the government has come up with a number of proposals, including a central role for the Money Advice Service (MAS) in the coordination of debt advice.
US pre-open: Stocks expected to trade up by 0.7%
Tuesday 19 Jul 2011
Futures for the major US equity benchmarks are now pointing to average gains of 0.7% at the open of today´s trading. The aforementioned following a certain improvement in the ‘newsflow’ surrounding the eurozone crisis, and after the release of some better than expected macroeconomic indicators.
Ryanair welcomes BAA shake-up
Tuesday 19 Jul 2011
Low-cost airline Ryanair has welcomed decision by the Competition Commission (CC) that airport operator BAA should be forced to sell its airports at Stansted and either Glasgow or Edinburgh. The CC announced on Tuesday that passengers would benefit from greater competition if the airports were in different hands.
Europe afternoon: Stocks consolidate early gains
Tuesday 19 Jul 2011
After a rush of buyers at the outset that was akin to the opening minutes of an eagerly awaited end-of-season sale, European markets have moved into consolidation mode in the afternoon session.
Xcite raises £4.2m to develop North Sea oil field
Tuesday 19 Jul 2011
North Sea oilfields operator, Xcite energy, has raised £4.2m through a standby equity distribution agreement.
German investor confidence drops in July
Tuesday 19 Jul 2011
Investor confidence in Germany has dropped to minus 15.1 points, the lowest since January 2009, as escalating concerns over the Eurozone debt crisis and US’s debt ceiling talks dampened sentiment. The ZEW indicator, the monthly survey of investors in Europe’s top economy, showed that economic sentiment had dropped by 6.1 points in July, below the indicator’s historical average of 26.2 points.
Premium tips: Aviva, Greene King, Michelmersh Brick...
Tuesday 19 Jul 2011
Ahead of Aviva’s first half results, Panmure Gordon cut its target price from 564p to 528p after adjusting its earnings forecasts “to take account of the net impact of recent disposals and a change in Delta Lloyd’s liabilities, following the reversal of a change in the composition of a yield curve flagged in its Q1 IMS.” Nevertheless, the broker kept its buy rating.
US pre-open: Stocks expected to trade up by 0.7%
Tuesday 19 Jul 2011
Futures for the major US equity benchmarks are now pointing to average gains of 0.7% at the open of today´s trading. The aforementioned following a certain improvement in the ‘newsflow’ surrounding the eurozone crisis, and after the release of some better than expected macroeconomic indicators.
Broker snap: Peel Hunt recommends to buy Evolution
Tuesday 19 Jul 2011
Peel Hunt reiterated its buy recommendation on investment house Evolution Group as the company announced the potential acquisition of BNP Paribas Private Investment Management.
Geong International to buy social media ad company
Tuesday 19 Jul 2011
Chinese internet software firm, Geong International, has announced it is to buy Hong Kong online marketing company, Adbeyond.
Spain issues €4.45bn in debt auction
Tuesday 19 Jul 2011
Spain's Treasury issued a total of €4.449bn in 12- and 18-month notes on Tuesday, in line with the announced target of €4.5bn.
Henderson retains 91% of Gartmore's assets
Tuesday 19 Jul 2011
Fund manager Henderson has retained 91% of Gartmore’s assets and said the integration of the business is “well advanced” but expects market volatility to hit future profits. “Given lower performance fee potential in 2H11 the Group expects the level of performance fees generated in 2H11 to be substantially lower than 1H11,” Henderson said.
Evolution bidding for BNP's wealth mangers
Tuesday 19 Jul 2011
Shares in investment house, Evolution Group, rose 10% on Tuesday after analysts gave its bid for BNP Paribas Private Investment Management the thumbs up. Evolution said that its private client investment management subsidiary, Williams de Broë, was in advanced discussions to buy BNP's wealth management operation, formerly known as Fortis Private Investment Management.
Premium broker snap: CPUB offer makes sense for Greene King, says Matrix
Tuesday 19 Jul 2011
Financial services firm Matrix reiterated its buy recommendation on pubs group Greene King, saying that group remain its preferred pick in the pub sector following its offer for The Capital Pub Company (CPUB).
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