Editor's Picks
ASOS sees slowing sales in second quarter
Friday 14 Oct 2011
Second quarter revenue at online fashion retailer ASOS was an impressive 49% ahead of the same period last year, but the rate of growth did slowdown from the 63% increase seen in the first quarter.
AVEVA remains optimistic about full-year
Friday 14 Oct 2011
AVEVA, the FTSE 250 engineering software company, claims that it has made good progress in the first half, but has warned of weak demand in North America and obstacles in China.
London pre-open: Slovak vote to give a small lift
Friday 14 Oct 2011
The ratification at the second attempt by the Slovak parliament of the expansion of the European bail-out fund has given sentiment a small boost, and London's top shares look set to start the day on the front foot.
FX round-up: Euro recovers losses against rising dollar
Friday 14 Oct 2011
The euro lost ground on Thursday but was able to claw back some of the day's earlier losses, after the European Financial Stability Facility got the necessary approval from Slovakia for its expansion.
Friday tips round-up: Booker, Dominion Petroleum, WH Smith...
Friday 14 Oct 2011
Cash-and-carry business Booker managed to surprise the market with its interim figures yesterday, and analysts were left upgrading their forecasts for the full year, says the Tempus column in the Times. Halfway profit before tax was 22 per cent ahead at £45 million in the 24 weeks to September 9. The halfway dividend is raised by the same rate, to 0.33p. But the company’s huge cash generation has
Friday newspaper round-up: Spain downgrade, Glencore, Google...
Friday 14 Oct 2011
Standard & Poor’s has downgraded Spain’s sovereign debt rating, citing slowing growth and a weakening financial system. In an announcement late on Thursday, the rating agency knocked Spain’s rating down one notch from double A, where it has been since last April, to double A minus. It also kept the country’s rating on a negative outlook, writes the Financial Times.
US close: Banks fall, Wall Street finishes mixed
Thursday 13 Oct 2011
The Dow and the S&P 500 finished in the red on Thursday, dragged lower by a poor showing by the banking sector, while the Nasdaq closed slightly higher on the back of strong performances by Google and Vertex Pharmaceuticals.
Europe close: Slovak approval too late, as markets fall
Thursday 13 Oct 2011
The news that the Slovakian government has voted in favour to expand the Eurozone’s rescue fund came too late to provide a boost to European markets, as benchmarks across the continent took a fall on the back of a poor performance from the banking sector.
Slovakian Parliament says ´Yes´ to EFSF
Thursday 13 Oct 2011
The Slovakian Parliament repeated its vote and ratified the expansion of the European Financial Stability Facility (EFSF) after a failed attempt on Tuesday, allowing the European Union to implement changes to the rescue fund.
London close: Banks drag market lower after Fitch downgrade
Thursday 13 Oct 2011
A late rally drove the Footsie back above the 5,400 mark, but the blue chip index still finished 0.71% down after Fitch dampened sentiment in the banking sector.
Fitch cuts rating for Lloyds and RBS
Thursday 13 Oct 2011
Ratings agency Fitch has confirmed speculation and cut ratings across the UK banking sector, downgrading part-nationalised lenders Lloyds and Royal Bank of Scotland (RBS) due to uncertainties about the level of government support that they may receive.
Broker tips: Anglo American, Rolls-Royce, Booker
Thursday 13 Oct 2011
Credit Suisse has reiterated its neutral stance on mining giant Anglo American, saying that if a large share of the Los Bronces project in Chile is sold, then the group could lose part of a “key growth pillar”.
US trade deficit falls slightly
Thursday 13 Oct 2011
The US trade deficit improved slightly in August to $45.608bn, compared to a deficit of $45.625bn in the previous month, according to the latest data from the Bureau of Economic Analysts (BEA).
Joe Lewis withdraws Mitchells & Butlers offer
Thursday 13 Oct 2011
Mitchells & Butlers billonaire shareholder Joe Lewis has withdrawn a “possible offer” for the pub group behind the O’ Neills and All Bar One chains.
Sector movers: Rolls-Royce lifts aerospace/defence stocks
Thursday 13 Oct 2011
Power systems giant Rolls-Royce surged 9% on Thursday, helping the aerospace and defence sector to the top of the pile.
London midday: Renishaw and M&B in late morning dive
Thursday 13 Oct 2011
Stocks have moved further into the red with a couple of announcements that came after the early morning rush sending stocks lower.
UPDATE: Thursday broker round-up
Thursday 13 Oct 2011
Tullow Oil: UBS reduces target to 1,700p from 1,720p, but maintains buy stance.
UPDATE: Fitch could downgrade UK banks today, says Sky News
Thursday 13 Oct 2011
The banks tumbled lower late Thursday morning - despite rising earlier on - on the back of reports that Fitch could cut ratings across sector.
RIM future in doubt after ongoing problems with BlackBerry
Thursday 13 Oct 2011
It is now the third day of BlackBerry’s service blackout which has caused problems for millions of customers worldwide, and analysts have begun to question the future of the smart phone maker Research In Motion (RIM).
Rolls-Royce to ramp up profits with major $1.5bn deal
Thursday 13 Oct 2011
Global power systems firm Rolls-Royce was the high riser on Thursday morning after it revealed two major initiatives which are expected to significantly raise its operating profits in the future.
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