Editor's Picks
Broker tips: HSBC, London & Stamford, Game
Wednesday 15 Jun 2011
UBS cuts its target price for HSBC by 7%, from 708p to 655p, based on expectations of lower long-term growth for the global banking giant.
British Land bulldozers given green light
Wednesday 15 Jun 2011
British Land, the FTSE 100 Real Estate Investment Trust, has welcomed the government’s decision not to list the Broadgate office development in the City of London.
Premium broker snap: Charles Stanley downgrades Imperial Tobacco to 'hold'
Wednesday 15 Jun 2011
Charles Stanley downgraded Imperial Tobacco from ‘accumulate’ to ‘hold’ on Tuesday, after the group reduced its profit guidance on the back of an ongoing price war in Spain.
London midday: Stocks bounce back
Wednesday 15 Jun 2011
The top share index headed back towards positive territory late in the morning after an earlier weak spell. Among the stocks moving higher is the property group British Land which is celebrating the government’s decision not to list the Broadgate office development in the City of London. The company can now go ahead (...)
UK unemployment falls to 7.7%
Wednesday 15 Jun 2011
The number of unemployed people in the UK fell by 88,000 between February and April, representing the largest quarterly fall in unemployment since the three months to August 2000, according to the Office for National Statistics (ONS).
US pre-open: Strong falls seen at the start
Wednesday 15 Jun 2011
US equity futures are pointing to strong falls at the open today of nearly 1.0% for the Dow Jones Industrial and Nasdaq Composite. The S&P should open down by less, retreating 0.5%.
London open: FTSE 100 lower despite Sainsbury's rise
Wednesday 15 Jun 2011
Shares have edged slightly lower in a continuation of the uncertain trading seen in recent days.
Game slashes sales forecast as market struggles
Wednesday 15 Jun 2011
Video game retailer Game Group has slashed its aales forecasts for the full year after worse than expected trading in the past 19 weeks.
London pre-open: Stocks off the boil
Wednesday 15 Jun 2011
After yesterday's strong showing London's blue-chips look set to start the day in more subdued mood, with City traders suggesting the Footsie will open around a dozen or so points down from last night's close.
Champagne stays on ice at Sainsbury
Wednesday 15 Jun 2011
Supermarket group Sainsbury saw like-for-like (LFL) sales growth in line with management's expectations in the 12 weeks to 11 June, though the growth rate was below some brokers' estimates. "We've delivered a solid sales performance, in line with our expectations, in spite of the continued tough consumer environment," said chief executive, Justin King.
US close: In for a Penney
Tuesday 14 Jun 2011
Though it finished off the top the Dow Jones index still racked up a triple digit gain as buyers came off the sidelines following some encouraging Chinese industrial production data and a broadly in-line US retail sales report.
US Midday: Stocks still trading near day's highs
Tuesday 14 Jun 2011
The main US equity benchmarks are still registering a strong bounce at the midday point of the session (DJI: 147, Nasdaq Comp.: 42, S&P 500: 18), following the pretty much ´in line´ Chinese and US macroeconomic indicators out this morning.
London close: Footsie finishes close to daily highs
Tuesday 14 Jun 2011
London was given an extra lift in the afternoon as markets on Wall Street opened strongly. Also helping sentiment was some reassuring economic figures from China. Chinese industrial production rose by 13.3% in May, assuaging some observers’ fears that economic expansion in the fast-growing country could slow.
US open: Strong rise in equities
Tuesday 14 Jun 2011
The main US equity benchmarks are now registering a strong bounce (DJI: 126, Nasdaq Comp.: 38, S&P 500: 16), following pretty much ´in line´ Chinese and US macroeconomic indicators out this morning.
Broker tips: Tesco, Carnival, Aveva
Tuesday 14 Jun 2011
Matrix has kept its ‘reduce’ rating on supermarket titan Tesco, saying that it expects the shares to underperform, given that the first quarter figures missed estimates.
Greek bonds tumble again
Tuesday 14 Jun 2011
The heavily-indebted Eurozone nations sometimes known as the PIGS hogged the headlines again after Standard & Poors gave Greece the lowest credit rating on fears it will default.
Small firms lead the way in UK hiring
Tuesday 14 Jun 2011
Britain may have to rely on smaller companies to sustain its economic recovery while the government slashes spending, judging by a new survey by the employment agency Manpower. Manpower, which based its survey on responses from more than 2,100 employers, says the employment outlook is the most positive it has been in three years.
Royal Mail's woes continue
Tuesday 14 Jun 2011
Annual revenues and profits both fell at the Royal Mail Group, its annual report for 2010-11 revealed on Tuesday.
London midday: China reassurance boosts FTSE 100
Tuesday 14 Jun 2011
Stocks have moved higher, helped by some reassuring economic figures from China.
Premium tips: Sainsbury, bwin.party, Aveva...
Tuesday 14 Jun 2011
Matrix upgraded Sainsbury to a ‘buy’, from ‘reduce’, on valuation grounds, and set a new target price of 377p, up from 337p previously. The broker noted that the shares have fallen 10% in absolute terms over the past month and are on a 15% discount to the sector on EV/EBITDA.
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