Editor's Picks
Bonds: Greek mega yields and US asset purchases
Wednesday 02 Nov 2011
Bond traders were looking two ways this afternoon. In Europe they see a Greek storm hanging over the crumbling edifice once known as the Eurozone. In the west, they wait the conclusion of the Federal Open Markets Committee meeting during which US monetary policy will be set.
ARM euphoria cooling after HP deal
Wednesday 02 Nov 2011
ARM Holdings, the British computer chip designer is still 2.45% above yesterday’s close following the announcement last night of a tie up with Hewlett Packard.
William Hill will not bid for Probability
Wednesday 02 Nov 2011
William Hill, the betting firm, has announced that it will not make an offer for Probability, the Gibraltar licensed mobile gambling operator.
US mid-morning: Financials lead recovery after jobs report
Wednesday 02 Nov 2011
Some better-than-expected jobs data helped cement early gains on Wall Street as the Dow, Nasdaq and S&P 500 jumped well over 1.5% in the first hour. By 11:00 in New York, the Dow was up 207 points at 11,866, the Nasdaq rose 38 to 2,644, while the S&P 500 was 23 higher at 1,241.
Sector movers: Randgold leads miners higher
Wednesday 02 Nov 2011
The mining sector was performing well on Wednesday, with constituents making average gains of 3.79%, as it recovers after bearing the brunt of a mass sell-off yesterday.
London midday: Footsie slips into the red
Wednesday 02 Nov 2011
The FTSE 100 swung between gains and losses on Wednesday morning as investors kept their eye on developments in the Eurozone. By midday, the blue chip index was slightly in the red, with some disappointing manufacturing data weighing on sentiment.
German jobless rate rises to 7%
Wednesday 02 Nov 2011
Destatis, the German statistics bureau, has reported that 10,000 jobs were lost in October, in line with what the consensus of analysts were expecting.
CFO Tookey to be interim CEO at Lloyds Banking
Wednesday 02 Nov 2011
Chief financial officer Tim Tookey is to sit in for António Horta-Osório as chief executive of Lloyds Banking while the hard-charging Spaniard takes a well earned rest.
Broker snap: Evolutions downgrades Standard Chartered to neutral
Wednesday 02 Nov 2011
Evolution Securities has downgraded banking giant Standard Chartered from buy to neutral, highlighting the stock’s recent strong performance and continuing headwinds.
Morning broker round-up
Wednesday 02 Nov 2011
Standard Chartered: Evolution Securities downgrades from buy to neutral, target unchanged at 1,800p.
Broker snap: 'Exceptional performance' by Next, says Prime Markets
Wednesday 02 Nov 2011
Prime Markets reiterated its buy rating on Next following the retailer’s third quarter statement, saying that the firm has delivered an “exceptional performance in a challenging year”.
Referendum not necessarily a tragedy?
Wednesday 02 Nov 2011
The gambit by Greek Prime Minister George Papandreou to put the recently negotiated ‘bail-out’ package to a referendum is ‘extremely risky’ says Bloomberg´s ‘View’ column today, but adds that it is the right thing to do.
Standard Life confident despite growth slowdown
Wednesday 02 Nov 2011
Investments and pensions group Standard Life will triumph over economic uncertainty and make progress despite the volatile conditions, despite a difficult third quarter, the firm said.
German jobless rate rises to 7%
Wednesday 02 Nov 2011
Destatis, the German statistics bureau, has reported that 10,000 jobs were lost in October, in line with what the consensus of analysts were expecting.
Market overview: Lloyds slide as CEO takes leave for health reasons
Wednesday 02 Nov 2011
0915: After a strong start, leading shares are already off the top, with the FTSE 100 up 25 at 5,446. Inmarsat is no longer the best performing blue-chip, with that accolade taken by another company that produced a trading update today, fashion chain Next. Asia-focused bank Standard Chartered is a bit off the pace, however, after its third-quarter update which was a bit light on hard numbers.
Wednesday newspaper round-up: Referendum, pensions, benefits
Wednesday 02 Nov 2011
Mr Papandreou told a late-night cabinet meeting that the referendum will be "a clear mandate and a clear message in and outside Greece on our European course and participation in the euro.No one will be able to doubt Greece's course within the euro," he said, adding that market turmoil triggered by his announcement of the referendum late on Monday would be short-lived.
FX round-up: Euro dives as Greece puts markets into tailspin
Wednesday 02 Nov 2011
The euro fell to the lowest level against the dollar in a month as markets scratched their heads over Greece's surprise decision to hold a referendum on its latest bailout.
News Corp under pressure after legal documents published
Wednesday 02 Nov 2011
Bad news for the British firm News International and its American parent, News Corp. New documents published by MPs investigating the so called “hackgate” affair appear to reveal that executives knew definitively in 2008 that their “rogue reporter” defence was untrue.
News Corp under pressure after legal documents published
Wednesday 02 Nov 2011
Bad news for the British firm News International and its American parent, News Corp. New documents published by MPs investigating the so called “hackgate” affair appear to reveal that executives knew definitively in 2008 that their “rogue reporter” defence was untrue.
Commodities: Greek referendum weighs on oil
Wednesday 02 Nov 2011
Crude oil futures started the month on weak footing as fresh nerves about Europe drove down demand.
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