Editor's Picks
China lowers its legal reserve requirement for banks
Wednesday 30 Nov 2011
The People´s Bank of China has just announced that it has lowered the legal reserve requirement for Chinese banks by 50 basis points, effective from 5 December.
Cairn Energy disappoints
Wednesday 30 Nov 2011
Oil giant Cairn Energy has failed to find a commercial discovery at its exploration drilling campaign offshore Greenland, where drilling operations were extended to complete activities on the last two wells in the Atammik block.
Commodities: Crude just shy of $100 on Europe hopes
Wednesday 30 Nov 2011
Crude oil futures settled close to $100 a barrel on Tuesday following a better than expected US consumer confidence report and as Italy completed a bond auction.
FX round-up: Euro makes progress as talks continue
Tuesday 29 Nov 2011
The euro rose to a high of above $1.34 on Tuesday before later retreating as European leaders met in Brussels to formulate solutions to the debt crisis.
US close: Stocks up on Euro hopes and economic data
Tuesday 29 Nov 2011
Hopes that Eurozone finance ministers can bring an end to the crisis lifted the mood on Wall Street on Tuesday. A consumer confidence survey that surprised to the upside also helped, boosting gains on the S&P 500 and the Dow.
Wednesday newspaper round-up: EFSF, HSBC, Switzerland
Tuesday 29 Nov 2011
Mr Schauble said eurozone finance ministers, who are meeting in Brussels, could not agree on the terms of the European Financial Stability Facility (EFSF). He told Germany’s Handelsblatt that although Europe needed a fund “capable of action”, plans for the EFSF were too “intricate and complex” for investors to understand. The finance ministers, who were meeting ahead of a full Ecofin summit
FTSE 100 Movers: Randgold shines again
Tuesday 29 Nov 2011
Randgold Resources was the top performer, rising over 5%, climbing its way back after yesterday’s fall. On Monday, the firm cut its production forecast for the year after running into a number of difficulties at its Tongon mine in Côte d'Ivoire. The firm said that it now expects group production for the year to drop from between 740,000 and 760,000 ounces to between 690,000 to 700,000 ounces.
Bonds: Italy in the eye of the debt storm
Tuesday 29 Nov 2011
The euro debt crisis appeared to be on the brink of claiming its latest victim as Italy was forced to pay significantly over 7% for a series of debt notes.
OBR cuts predictions for UK growth - Update
Tuesday 29 Nov 2011
The Office for Budget Responsibility (OBR) predicts gross domestic product (GDP) growth for the UK will be 0.9% in 2011 and 0.7% in 2012.
Chamberlin revenue jumps 25%
Tuesday 29 Nov 2011
Specialist castings and engineering group Chamberlin said half yearly revenue rose by a quarter and it expects full year results to be in line with current market forecasts.
AMR Corp files for bankruptcy
Tuesday 29 Nov 2011
AMR Corp, the parent company of American Airlines and American Eagle, has filed for bankruptcy in order to restructure debt.
Broker tips: IG Group, Mothercare, Business service stocks
Tuesday 29 Nov 2011
Prime Markets recommends buying shares in IG Group, saying that the European sovereign debt crisis creates “ideal conditions” for the spread-betting firm.
London midday: Modest gains ahead of Osborne speech
Tuesday 29 Nov 2011
With US stock futures pointing to a positive start on Wall Street, London’s FTSE 100 index reversed its earlier losses to trade modestly in the blue by midday on Tuesday. All eyes have turned to the Chancellor of the Exchequer,
UK Money supply data shows diverging trends
Tuesday 29 Nov 2011
The rate of growth in the United Kingdom´s money supply, as measured by the M4 series, and excluding so-called ‘intermediate other financial corporations’ (OFCs), was 0.5% on month for October, according to the latest data out this morning from the Bank of England.
Argos rejects Falklands drilling campaign
Tuesday 29 Nov 2011
Argos Resources, the Falkland Islands focused oil company, has decided not to participate in the current drilling campaign in the North Falkland Basin.
Broker snap: UBS downgrades Mothercare to sell
Tuesday 29 Nov 2011
UBS has downgraded its rating on children’s and parenting products retailer Mothercare from neutral to sell and slashed its target price by over three quarter after assessing the group’s first half results published two weeks ago.
Tuesday broker round-up - UPDATE
Tuesday 29 Nov 2011
Senior: Credit Suisse keeps at neutral, raises target to 175p from 165p.
France's AAA rating under threat
Tuesday 29 Nov 2011
Ratings agency Standard and Poor’s may be considering putting France’s triple A rating under review for a possible downgrade, according to several sources contacted by the French newspaper La Tribune.
Fitch cuts US credit outlook to negative
Tuesday 29 Nov 2011
Ratings agency Fitch Ratings has cut the perspective on United States’ credit outlook to negative from stable, although the agency maintains the nation's triple-A rating.
Revenues up 23% at IG Group
Tuesday 29 Nov 2011
Spread betting pioneer IG Group saw a high level of client activity in the second quarter of its financial year, continuing the trend seen in the first.
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