Editor's Picks
BP to sell off more assets, Q3 profits soar
Tuesday 25 Oct 2011
Oil titan BP has promised to build a "stronger and safer" company, as it plans to sell-off more low-returning assets and invest in higher-growth opportunities.
BP to sell-off more assets, Q3 profits soar
Tuesday 25 Oct 2011
Oil titan BP has promised to build a "stronger and safer" company, as it plans to sell-off more low-returning assets and invest in higher-growth opportunities.
London pre-open: BP ups assets sales target by $15bn
Tuesday 25 Oct 2011
Traders have their hands full digesting some big company results this morning, and with investors reluctant to commit before the announcement of the Eurozone package of measures expected tomorrow, City sources predict the FTSE 100 will open around 20 points down from yesterday's close of 5,548.
Irate Berlusconi criticizes ECB, nationalists want to haggle
Tuesday 25 Oct 2011
Italian Prime Minister Silvio Berlusconi yesterday defended his government´s track record and credentials on economic policy, assuring investors that it is preparing to pass “important decisions” on structural changes in the economy.
Gaps still to be found in EFSF strategy?
Tuesday 25 Oct 2011
German lawmakers will convene today to analyze the two options currently on the table to leverage the European Financial Stability Fund (EFSF). According to a document to which Bloomberg News has had access, the first would raise the EFSF’s capacity by insuring a fraction of countries’ funding requirements, and the second combines capital from European and non-European public and private
No respite for Carpetright
Tuesday 25 Oct 2011
Retail gloom continued at flooring specialist Carpetright as UK like for like sales fell 3% in the second quarter and it predicts full year underlying pre-tax profits will be at the lower end of current expectations.
Commodities: Crude and gold carve out chunky gains
Tuesday 25 Oct 2011
Crude oil futures surged over 4% on Monday on optimism that European leaders will strike a deal to tackle to euro zone debt crisis.
FX round-up: Dollar nurses more losses
Tuesday 25 Oct 2011
The dollar remained in the doldrums against major currencies on Monday as the euro rose to its highest level in six weeks against the US currency.
India raises rates, but signals a pause
Tuesday 25 Oct 2011
The Reserve Bank of India (RBI) has today raised its repurchase rate by 25 basis points, to 8.5%, while at the same stating that, “The likelihood of a rate action in the December mid- quarter review is relatively low."
Tuesday tips round-up: Compass, IHG, Fuller's...
Tuesday 25 Oct 2011
Whatever its intrinsic merits, the attempted purchase of ISS of Denmark by G4S for £5.2 billion has focused attention on the more cautious acquisition strategy being pursued by another big name in the outsourcing sector, Compass Group, says the Tempus column in the Times. Compass is buying Integrated Cleaning Management for an undislosed but probably small sum, in the context of the group as a
Tuesday newspaper round-up: Cameron, G4S, BP...
Tuesday 25 Oct 2011
David Cameron’s attempts to assert his authority over his party backfired on Monday when more than 80 Conservative backbenchers defied their leader over membership of the European Union in a devastating blow to the prime minister. More than a quarter of Mr Cameron’s backbenchers voted for a motion calling for a referendum on whether the UK should remain in the European Union despite heavy
Europe close: Bourses optimistic ahead of Wednesday meeting
Monday 24 Oct 2011
Despite some cautious trading at midday on the back of some mixed economic data, a late surge lifted European markets to a strong finish on reports that Germany expects the Eurozone rescue fund to be boosted to above €1trn.
London close: Strong finish helps Footsie rise 1.1%
Monday 24 Oct 2011
The Footsie finished strongly on Monday afternoon, with the miners leading the charge, as investors look ahead with optimism to Wednesday’s second Eurozone summit.
Sector movers: BG, BP lead the fall in oil sector
Monday 24 Oct 2011
Oil and gas producers were among the worst performing stocks on Monday despite the rising price of black gold.
Lloyds pondering flotation of up-for-sale branches
Monday 24 Oct 2011
Lloyds´ has approached the UK Listing authority, part of the Financial Services Authority, about a public listing of 600 Lloyds´ retail branches, according to the Sunday Telegraph.
Broker snap: Panmure downgrades Premier Foods to sell
Monday 24 Oct 2011
Panmure Gordon has downgraded foods manufacturer Premier Foods from hold to sell and slashed its target price by a whopping 91%, on the back of poor third quarter trading and an uncertain outlook.
US open: The Federal Reserve is not all powerful
Monday 24 Oct 2011
The main US equity benchmarks are now registering moderate gains (Dow Jones Industrial: 43, Nasdaq Comp.: 24, S&P 500: 7). The above against some lingering uncertainty, apparently, as regards the Eurozone´s rescue plan, with details still to be provided about the level of private sector ‘involvement’ which authorities will require and on how far the EFSF will be leveraged. Of interest, some
Mouchel sells pipeline design business
Monday 24 Oct 2011
Mouchel, the troubled outsourcing firm, has completed the sale of its pipeline design business to Mott MacDonald, a privately held management, engineering and development consultancy, for an initial cash consideration of around £2.55m.
US pre-open: More monetary easing to come from the Fed?
Monday 24 Oct 2011
US premarket futures are now pointing to very slight gains for the main US equity benchmarks. The above against some lingering uncertainty, apparently, as regards the Eurozone´s rescue plan, with details still to be provided about the level of private sector ‘involvement’ which authorities will require and on how far the EFSF will be leveraged. Of interest, some market commentary holds that the
Broker snap: Panmure downgrades Premier Foods to sell
Monday 24 Oct 2011
Panmure Gordon has downgraded foods manufacturer Premier Foods from hold to sell and slashed its target price by a whopping 91%, on the back of poor third quarter trading and an uncertain outlook.
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