Broker snap: Investec pleased with Premier Foods' Irish brand disposal

Friday 16 Dec 2011

Investec has kept its buy rating on FTSE 250 foods group Premier Foods following last night's announcement that it will dispose of its four Irish Brands.

Commodities: Crude rout continues, gold perks up

Friday 16 Dec 2011

Crude oil prices fell for a third consecutive day on Friday as worries about the European debt crisis and global deteriorating demand chipped away at investor appetite.

Rumours of Chinese reserve ratio cut unfounded? Well…

Friday 16 Dec 2011

One of the rumours doing the rounds this morning regards an imminent cut by the People’s Bank of China (PBoC) of its bank reserve ratio, which determines how much liquidity banks must forcibly keep on deposit at the central bank instead of being able to lend it out.

Barclays Capital to sell €1bn in assets, FT says

Friday 16 Dec 2011

Barclays Capital is reported this morning to be planning the sale of more than €1bn worth of German apartments.

Baroin: It's better to be French than British

Friday 16 Dec 2011

Finance Minister Francois Baroin has declared that it's economically "better to be French than British", amid a surge of criticism on the UK economy from the French.

Blacks Leisure in death spiral as Sports Direct pulls out

Friday 16 Dec 2011

Sports Direct, the discount sports clothing chain, has withdrawn its offer for Blacks Leisure, sending the hobbled high street retailer’s shares into a potential death spiral.

US close: Stocks lifted by economic data

Thursday 15 Dec 2011

Fitch downgrades several global banks, including Barclays

Thursday 15 Dec 2011

Fitch Ratings has downgraded some of the major global banks due to the growing risks for financial markets arising from both economic developments as well as a “myriad of regulatory changes”.

US pre-open: Stocks to bounce after barrage of economic data

Thursday 15 Dec 2011

The main US equity benchmarks are now being called to rise by 1.0% on average at the opening bell, following a barrage of on the whole better than expected economic data and a better tone to trading in Europe.

Collins Stewart sells out to Canaccord

Thursday 15 Dec 2011

There is to be more consolidation in the financial services sector with Canadian giant Canaccord winning the hand of UK stockbroker Collins Stewart Hawkpoint.

Commodities: Oil and gold both head lower

Thursday 15 Dec 2011

Oil finished lower on Thursday evening at $93.87 a barrel on the New York Mercantile stock exchange, as the earlier relief rally lost momentum.

Broker snap: UBS downgrades Ultra Electronics to sell

Thursday 15 Dec 2011

UBS has downgraded its rating for high-tech defence firm Ultra Electronics from neutral to sell, saying the group is not immune to defence budget cuts.

FX round-up: Euro rises against dollar

Thursday 15 Dec 2011

The euro rose against the dollar on Thursday, recovering from the day before when it dropped to its lowest level since January.

London midday: Old Mutual and miners provide a lift

Thursday 15 Dec 2011

The Footsie held on to gains by lunchtime, breaking through the 5,400 level, with strong gains for Old Mutual and the miners lifted London’s blue chip index 0.6% higher.

Broker snap: UBS downgrades Ultra Electronics to sell

Thursday 15 Dec 2011

UBS has downgraded its rating for high-tech defence firm Ultra Electronics from neutral to sell, saying the group is not immune to defence budget cuts.

Spanish auction results well above expectations, euro recovers a tad

Thursday 15 Dec 2011

The Spanish Treasury has this morning auctioned a total of approximately €6.028bn in 4 and 10 year debt.

UK retail sales for November above forecasts -UPDATE

Thursday 15 Dec 2011

The volume of UK retail sales fell by 0.4% in November compared to the month before, according to the latest data from the Office for National Statistics (ONS).

Thursday broker round-up

Thursday 15 Dec 2011

Cairn Energy: Investec keeps hold and 291p target.

UK 5 year debt auction sees a large drop in yields

Thursday 15 Dec 2011

The Debt Management Office has just sold £4bn in 5 year debt (maturity 2017) at a yield of 1.143%.

Banque de France “downgrades” S&P, Fitch and Moody's

Thursday 15 Dec 2011

Christian Noyer, the governor of the Bank of France, the country's central bank, has hit back at the credit rating agencies today in an interview with Le Telegramme de Brest.