Editor's Picks
Sainsbury accelerates sales in second quarter
Wednesday 05 Oct 2011
Sainsbury announced on Wednesday that total sales in the first half grew by 7.6% (+4.3% excluding fuel) in a statement which focused mainly on its confidence in its latest scheme to promote own label ranges.
FX round-up: Euro rises ahead of ECB meeting
Wednesday 05 Oct 2011
The euro enjoyed some relief from recent selling on Tuesday, pulling off an eight month low against the dollar, as markets eye the upcoming European Central Bank policy meeting.
Commodities: Oil falls to one year low
Wednesday 05 Oct 2011
Crude oil tumbled to a one year low in New York on Tuesday on concern that demand will drop amid slowing US growth and the ongoing European debt crisis.
Wednesday tips round-up: Carillion, Hamworthy, Heritage Oil...
Wednesday 05 Oct 2011
Carillion, which bought Eaga, the home insulation and green energy business, in the spring, has now raised its estimate for annualised cost savings from £9 million to £15 million, notes the Tempus column in the Times. Carillion, like its rival support services group Kier, is now seeing the promised, cuts-inspired public sector outsourcing work seeping through in the form of offers to tender.
Wednesday newspaper round-up: Italy, EU banks, Barclays...
Wednesday 05 Oct 2011
Italy suffered a bruising downgrade by ratings agency Moody's on Tuesday night in move that is expected to intensify pressure on European leaders to shore up the eurozone's banks in a bid to resolve the sovereign debt crisis. Just hours after chancellor George Osborne and officials in Brussels were united in calling on eurozone leaders to bolster the financial strength of their banks, Moody's
US close: Late surge driven by Rehn comments
Tuesday 04 Oct 2011
A dramatic late rally which saw the Dow swing a miraculous 400 points meant that US benchmarks finished with impressive gains on Tuesday afternoon.
Moody's downgrades Italy's rating by three notches
Tuesday 04 Oct 2011
In another hit to the struggling Eurozone, ratings agency Moody's late on Tuesday night downgraded Italy's credit rating by three notches from Aa2 to A2, concluding its move in the summer that placed its rating under review. A negative outlook was given.
US afternoon: Stocks stuck in reverse after factory orders data
Tuesday 04 Oct 2011
it was another bad morning session for US stocks, though the tech-heavy NASDAQ Composite held its own.
London close: Footsie finishes well below 5,000
Tuesday 04 Oct 2011
Though share prices recovered a tad after some reassuring noises from Federal Reserve chairman Ben Bernanke, London still finished the day deep on the red, with the Footsie well below the psychologically important 5,000 level.
US open: Bernanke says Fed ready to act as necessary
Tuesday 04 Oct 2011
The main US equity benchmarks are now trading down by over 1% on average (Dow Jones Industrial: -212, Nasdaq Comp.: -25, S&P 500: -21), following on the back of sharp falls, yesterday and today, in bank shares on both sides of the Atlantic.
Fatality at New World Resources' Czech mine
Tuesday 04 Oct 2011
Shares in New World Resources (NWR) underperformed the relative falling FTSE 250 index on Tuesday after the European coal miner announced a fatality at the Karvina Mine, operated by its Czech subsidiary OKD.
Premium broker snap: Landlady vs Premier League case not a concern for BSkyB
Tuesday 04 Oct 2011
A legal battle between a pub landlady and the Premier League has highlighted the high prices British Sky Broadcasting (BSkyB) charge to its customers to watch UK football matches. But while the case has brought lots of publicity to the firm, it should not have a great deal of impact on the BSkyB’s ongoing business, according to Evolution Securities.
Europe midday: Dexia's shareholders do midday runner
Tuesday 04 Oct 2011
Europe's leading stocks have come off the bottom a touch, but traders' screens are still a sea of red, as markets fret over another delay in the interminable Greek debt saga and worry over a new banking crisis.
Hamworthy snaps up UK valve maker for £24m
Tuesday 04 Oct 2011
Hamworthy, the AIM-listed supplier of products to the oil and gas sector, has acquired 100% of the issued share capital of AW Flow Holdings for £24m.
Nomura slashes estimates for US banks again
Tuesday 04 Oct 2011
Even though Nomura lowered its third quarter earnings estimates for US banks by an average 29% on 6 September, the broker has again scaled back its forecasts, causing banking stocks to take a tumble on Wall Street after the opening bell on Tuesday.
Nomura slashes estimates for US banks again
Tuesday 04 Oct 2011
Even though Nomura lowered its third quarter earnings estimates for US banks by an average 29% on 6 September, the broker has again scaled back its forecasts, causing banking stocks to take a tumble on Wall Street after the opening bell on Tuesday.
UPDATE: UK construction PMI shows first drop in orders since 2010
Tuesday 04 Oct 2011
The Markit/CIPS purchasing managers´ index for the construction sector fell to 50.1 points in September, from 51.7 the month before.
London midday: Banks plummet, retailers buck trend
Tuesday 04 Oct 2011
A decent performance from the retail sector was not enough to pull the market higher by lunchtime, as investors bailed out of banking, engineering and mining stocks on concerns over the global economy.
Deutsche Bank's profit target now unattainable
Tuesday 04 Oct 2011
German banking giant Deutsche Bank has announced that its 2011 full-year earnings target of €10bn before tax is no longer within reach.
EMED warning of boiler room scam
Tuesday 04 Oct 2011
EMED Mining, a Europe focused mining firm, has issued a fraud warning to investors who may have been approached to buy shares in the firm.
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