Editor's Picks
London open: Shire provides a drag early on
Monday 25 Jun 2012
- Shire tumbles after generic ADHD deal gets approval - Polymetal rises after broker upgrade - Investors look to EU summit
Lonmin worker dies in South Africa
Monday 25 Jun 2012
Platinum group metals (PGMs) producer Lonmin has closed its Rowland shaft in South Africa after one of its workers died.
Anglo American and Codelco keep talking
Monday 25 Jun 2012
Anglo American and Chile's Codelco have agreed to extend talks as they seek to negotiate an agreement in their bitter battle over the former's Anglo Sur assets.
FX round-up: Euro recovers as ECB loosens lending rules
Friday 22 Jun 2012
The euro recovered ground against the dollar on Friday, following Thursday's 1.3 per cent loss, as investors cheered the European Central Bank's decision to loosen lending rules.
Monday newspaper round-up: Retailers, BoE, RBS
Friday 22 Jun 2012
Tax loopholes uncovered by The Times will be investigated by Parliament, the chairman of the powerful House of Commons Public Accounts Committee will reveal today. Abuses uncovered by a series of articles looking into income tax avoidance “wouldn’t look out of place in a banana republic”, says Margaret Hodge. Writing in this newspaper today, she confirms her committee will demand to know what
Lonmin worker dies in South Africa
Friday 22 Jun 2012
Platinum group metals (PGMs) producer Lonmin has closed its Rowland shaft in South Africa after one of its workers died.
Int'l Power refinances debt in Australia
Friday 22 Jun 2012
Electricity generating group International Power has announced that is has refinanced its debt facilities at the Hazelwood and Loy Yang B power plants in Australia.
US pre-open: Stocks to rally as banks round on Moody's
Friday 22 Jun 2012
US markets are set to bounce back after yesterday's shake-out. Quotes on spread betting sites suggest the Dow Jones will open around 60 points higher and the S&P Composite some six points to the good.
Broker snap: Credit Suisse downgrades Michael Page to 'underperform'
Friday 22 Jun 2012
Credit Suisse has downgraded its recommendation for recruitment firm Michael Page International from 'neutral' to 'underperform', saying that on a risk-reward basis, the stock is the 'most vulnerable of the employment agencies given weakening economic conditions'.
BoE´s Weale thinks Sterling may need to weaken
Thursday 21 Jun 2012
In a speech last night, at the University of Surrey, Bank of England policy-maker Martin Weale expressed his preference for the new credit easing measures recently announced by the central bank over quantitative easing. He also seemed to indicate that there is room for further monetary stimulus, adding that Sterling may need to weaken.
FTSE 100 movers: Miners tank on macro concerns
Thursday 21 Jun 2012
Gloomy manufacturing data from China and disappointing economic activity figures from the Eurozone weighed on the mining sector on Thursday. Meanwhile, with the US Federal Reserve holding back from extra quantitative easing measures last night, the dollar strengthened meaning that greenback-denominated metals prices fell.
Friday newspaper round-up: Moodys, Xstrata, Apple
Thursday 21 Jun 2012
Britain's high street lenders last night had their credit ratings cut by Moody’s, the ratings agency, as part of a major worldwide downgrade of bank ratings. The review was announced months ago, meaning any impact is likely to be muted as the downgrades were already priced in by the market. All four of Britain’s leading high street banks had their long-term ratings downgraded. Greg Bauer, Moody’s
London midday: Economic data drives stocks lower
Thursday 21 Jun 2012
- Chinese, Eurozone PMIs paint gloomy picture - Spanish banking-sector audits due today - Miners, oil stocks fall
Broker snap: Unilever is not like P and G/Danone, warns Investec
Thursday 21 Jun 2012
Investec has labelled consumer goods giant Unilever a 'warm hold', saying that while upside to the share price is limited, the company is better-placed than struggling peers Proctor and Gamble and Danone.
New Greek PM Samaras will announce cabinet today
Thursday 21 Jun 2012
New Democracy party leader Antonis Samaras was sworn in as Greece’s new prime minister yesterday after reaching a deal with the socialist party Pasok and moderate Democratic Left on the formation of a coalition government.
EFSF should buy government debt, ECB governor tells FT
Thursday 21 Jun 2012
German chancellor Angela Merkel´s remarks yesterday evening to the effect that using the European rescue funds to buy European debt is a possibility (while adding that there are no concrete plans) seem to have sparked some confusion in markets, given the conflicting headlines recently on this subject.
Commodities enter bear market, down 22% from peak
Thursday 21 Jun 2012
Weak economic data and a strong “green back” make for a powerful and poisonous cocktail for commodity prices, as risk aversion feeds into dollar strength and makes these raw materials´ prices cheaper.
Commodities: Crude skids to eight-month low
Wednesday 20 Jun 2012
Crude oil futures ended the session at an eight-month low on Wednesday as a government report said oil inventories rose to their highest level since 1990.
London pre-open: Market unimpressed with the Fed
Wednesday 20 Jun 2012
The Footsie is expected to open some 24 points lower than yesterday's close of 5,622 after the Federal Reserve disappointed investors by slashing its growth forecasts for the US economy.
Friday tips round-up: IG Group, H and T, Heritage Oil
Wednesday 20 Jun 2012
Questor in the Telegraph says the spreadbetting firm IG Group has done well to recruit high quality 'high roller' clients in the UK but the number of active clients (e.g. people making bets) has fallen one per cent in its home market. Australia has also seen the number of active clients drop. Yielding 4.7 per cent in 2012 with an earnings multiple of 13, Questor says hold for now.
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