Editor's Picks
Thai disappointment for Salamander
Friday 15 Apr 2011
Oil company Salamander Energy had a little less fire in its belly Friday morning after its first stab at drilling the Dao Ruang-2 well in Thailand did not work out.
Hikma takes strategic stake in Indian firm
Friday 15 Apr 2011
Jordan-based Hikma Pharmaceuticals has entered into a strategic partnership with the Indian pharmaceutical company Unimark Remedies.
Asia: China inflation concern rattles markets
Friday 15 Apr 2011
Asian stocks retreated after higher than expected inflation data from China increased speculation that Beijing would need to do more to tighten policy.
Wincanton sees revenue fall at German business
Friday 15 Apr 2011
Distribution group Wincanton warned that revenue at its German Intermodal business fell in the fourth quarter after the Rhine was closed to traffic for over four weeks. Otherwise its overall performance continues to be broadly in line with management expectations, the group said in Friday's trading update.
Technical analysis: Primary support for Dow at 12,100
Thursday 14 Apr 2011
It is evident that the Dow Jones 30-share index has entered a small corrective phase that should continue to correct or consolidate the recent strong gains, the Digital Look chart-watchers say.
Glencore float to raise up to $11bn
Thursday 14 Apr 2011
Swiss-based commodity house Glencore is to raise between $9bn (£5.5bn) and $11bn as it lists on the London and Hong Kong stock exchanges. The company, which will join the FTSE 100, will issue between 15% and 20% of its capital. Unusually, the stock will enter the FTSE 100 index on its first day of trading.
Consumer confidence recovers from record low
Thursday 14 Apr 2011
UK consumer confidence recovered in March from a record low in February, according to a survey by the Nationwide building society. The building society’s consumer confidence index for March rose by five points to 44. "While this is a welcome change in direction ... the up tick in March failed to reverse the fall suffered in the previous month,” said the society’s chief economist, Robert Gardner.
Asia a bright spot for PZ Cussons
Thursday 14 Apr 2011
More evidence of the threadbare state of the UK consumer's wallet came from consumer goods outfit PZ Cussons, which said trading conditions in the UK remain challenging.
WH Smith demonstrates resilience
Thursday 14 Apr 2011
Interim results from newsagent WH Smith were in line with expectations, with like for like sales (LFL) down 6% on the high street and 3% lower in the group's travel outlets. Group total sales in the six months ended 28 February were down 4% on a year earlier, with LFL sales down 5%. High street sales were down 6%, with LFL sales, excluding Entertainment, 3% down on a year earlier.
US close: Obama stimulus plan lifts stocks
Wednesday 13 Apr 2011
Stocks limped into the blue ahead of the close as president Obama outlined his intention to cut the US’s deficit by $4trn in 12 years.
Mixed results from JP Morgan
Wednesday 13 Apr 2011
This afternoon JP Morgan has announced a first quarter profit of $5.6bn, which equates to a pro-forma earnings per share (EPS) of $1.28. In the first quarter of 2010 its EPS was only 74 cents. Its revenues however fell to $25.2bn, from $27.7bn a year ago.
Skrill pulls float amid market uncertainty
Wednesday 13 Apr 2011
Online payments group Skrill has added its name to the list of companies pulling a planned flotation in London due to worries about market conditions. Skrill, which operates Moneybookers, a rival to the online payment service Paypal, said last night that it “decided not to proceed with the offer at this juncture due to adverse IPO market conditions.”
Youth unemployment a concern for JD
Wednesday 13 Apr 2011
The number of 16- to 24-year olds out of work rose by 12,000 to 963,000 in Britain in the three months to February, so it is not surprising that JD Sports Fashion, a retailer that caters for that age group, is facing difficulties.
Tullow finds more gas in Ghana
Wednesday 13 Apr 2011
Oil and gas firm Tullow Oil has had more success off the coast of Ghana, with the Tweneboa-4 appraisal well in the Deepwater Tano licence encountering gas condensate.
WS Atkins to beat FY expectations
Wednesday 13 Apr 2011
Design and engineering consultancy WS Atkins said it expects full year results to be ahead of market expectations after a strong performance at its Middle East business.
Rio counts the cost of weather disruptions
Wednesday 13 Apr 2011
Mining colossus Rio Tinto said first quarter production in Australia was hit by the severe weather in the region but added that most operations are now getting back to normal.
ASOS still in fashion
Wednesday 13 Apr 2011
Strong growth overseas helped the internet fashion retailer ASOS maintain its upward momentum in the fourth quarter. The firm, which sells clothes inspired by trendy celebrities (the name stands for ‘As Seen on Screen’) saw year-on-year sales growth of 70% during the quarter, with UK’s revenues up 24% to £44.9m and the international division’s soaring by 161% to £48.4m.
Barclays does not lower its CPI forecast, quite the opposite, but…
Tuesday 12 Apr 2011
Contrary to what one might perhaps have thought, following today´s lower than expected CPI print in the United Kingdom, some banks are not lowering their CPI forecasts for this year. In fact, quite the opposite is true. Economist Chris Crowe, at Barclays Capital, for one, has raised his ‘profile’ for
UK trade deficit narrows sharply
Tuesday 12 Apr 2011
The UK seasonally adjusted deficit on trade in goods and services was £2.4bn in February, compared with the deficit of £3.9 billion in January, according to the Office of National Statistics.
Worst fall in UK retail sales in 16 years
Tuesday 12 Apr 2011
UK retail sales values were down -1.9% on a total basis from March 2010, when sales had risen 6.6%, boosted by Good Friday and Easter Saturday falling in the March trading period, according to data out from the British Retail Consortium (BRC). On a like-for-like basis, sales were 3.5% lower, against a 4.4% increase in March 2010, according to results from the BRC–KPMG retail monitor.
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