Editor's Picks
UK house prices to fall 10%, Morgan Stanley says
Wednesday 01 Jun 2011
In a research note issued this morning to their clients analysts at Morgan Stanley write that they expect to see another 10% fall in UK house prices by the end of 2012, as compared to levels at the end of last year (Q4 2010). The above on the basis of its expectations for the Bank of England's interest rate policy. Also of interest, they highlight that, in their opinion, Lloyd’s is the bank most
UK: Weak credit and subdued money data
Wednesday 01 Jun 2011
In a note published this morning analysts at Barclays are pointing out that, “Credit data for April showed no sign of a let-up in the weak lending outlook”. While it is true that at £0.5bn net consumer credit growth came in a little higher than expectations for a gain of £0.2bn it nevertheless did come in flat with respect to March’s revised outturn. Mortgage approvals, on the other hand, fell to
London open: Footsie slips into red in early trading
Wednesday 01 Jun 2011
The Footsie has opened up in the red, with ex-dividend stocks National Grid and Vodafone providing an early drag. Plumber's merchant Wolseley has taken a hit after it saw like for like (LFL) revenue growth of 6% in its third quarter. This represents a slow-down from the LFL growth rate of 7% in the first quarter.
London pre-open: Looking for direction
Wednesday 01 Jun 2011
Investors seem set to take a pause for breath after yesterday's solid gains, postponing a renewed assault on Footsie's 6,000 level. City traders expect the blue-chip index to open around 7 points lower at 5,983. Announcements from miner BHP Billiton, cruise operator Carnival and insulation firm SIG feature in the pre-open report.
Carnival splashes out on big ship
Wednesday 01 Jun 2011
Cruise operator Carnival has placed an order for a massive 141,000-ton, 3,611-passenger cruise ship, set to be the largest in its P&O Cruises fleet.
FX round-up: Greece hopes boost euro
Wednesday 01 Jun 2011
Anticipation of a fresh bail-out package for debt stricken Greece breathed life into the euro on Tuesday while the latest batch of US economic data pushed the dollar lower.
Commodities: Crude steams ahead
Wednesday 01 Jun 2011
Crude oil futures rallied to a two-week high on Tuesday as the dollar eased against the euro on hopes Greece may be able to avoid debt restructuring.
Wednesday tips round-up: Bloomsbury, Harvey Nash, Avingtrans...
Wednesday 01 Jun 2011
The headline figures in Bloomsbury's results at the end of last week were far from inspiring. But the real highlight of the update was the news that sales of electronic books had rocketed. Of course, the rise of e-books does present challenges for publishers. The most obvious will be the need for companies such as Bloomsbury to be agile enough to deal with the globalisation of the book trade as
Alliance Trust a convert to buybacks
Tuesday 31 May 2011
Alliance Trust, the investment trust that has been under siege from activist investor Laxey Partners, burnt through £19.4m buying back shares to boost its share price in the first quarter of the financial year.
Alliance Trust a convert to buybacks
Tuesday 31 May 2011
Alliance Trust, the investment trust that has been under siege from activist investor Laxey Partners, burnt through £19.4m buying back shares to boost its share price in the first quarter of the financial year.
US close: Greece lifts markets, offsets economic data
Tuesday 31 May 2011
US benchmarks all finished over 1% higher on Tuesday, as disappointing economic data was outweighed by a more optimistic picture of European sovereign debt.
Ceramic Fuels stoked by big sale
Tuesday 31 May 2011
Ceramic Fuel Cells, the low emission power products developer, pulled well clear of its 52-week low after it announced it second-ever largest sales order.
Europe close: Greek banks roar ahead
Tuesday 31 May 2011
European markets finished firmly higher on Tuesday, as speculation that Greece may be able to avoid a debt restructuring helped buoy sentiment.
Greek hopes roil bond markets
Tuesday 31 May 2011
Gilts were out of favour amid a continuing rise in equities, while Greek bonds advanced strongly on hopes that the troubled Eurozone economy will receive further support from other members of the single currency.
London close: More gains for FTSE 100
Tuesday 31 May 2011
Stocks built on the strong gains they posted ahead of the long weekend, surpassing the 6,000 point mark but finishing slightly below that psychologically-important level. In company news, Serco moved ahead after it announced the acquisition of India-based service provider Intelenet for up to £385m.
London close: More gains for FTSE 100
Tuesday 31 May 2011
Stocks built on the strong gains they posted ahead of the long weekend, surpassing the 6,000 point mark but finishing slightly below that psychologically-important level. In company news, Serco moved ahead after it announced the acquisition of India-based service provider Intelenet for up to £385m.
Gold production imminent at Trans-Siberian
Tuesday 31 May 2011
Trans-Siberian Gold says its Asacha site in the far east of Russia is expected to be in production by the end of July.
FTSE 100 movers: Outsourcers improve on gains
Tuesday 31 May 2011
Serco, the outsourcing company whose activities include running prisons and London’s Docklands Light Railway, has announced the acquisition of India-based service provider Intelenet for up to £385m, boosting shares higher on Tuesday. Prime Markets thinks that the purchase will “safely propel” Serco's shares higher.
Chicago NAPM comes in well below forecasts
Tuesday 31 May 2011
The Chicago NAPM’s manufacturing PMI for the month of May has come in far below expectations, at 56.6 points, as compared to the previous month’s reading of 67.6.
Munich Re sizing up US acquisitions
Tuesday 31 May 2011
Munich Re could be looking for new acquisitions in the United States, managing director Torsten Jeworrek revealed in a press interview.
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