Editor's Picks
Tuesday newspaper round-up: Italy, Cable, Siemens...
Tuesday 20 Sep 2011
Italy has had its sovereign credit rating cut by Standard and Poor's , with the ratings agency keeping the country's outlook on negative in a major surprise that adds to contagion fears in the debt-stressed eurozone. The agency cut Italy's government debt rating to A from A+ and said Italy's economic growth prospects were getting weaker, with planned reforms by the government not expected to help
S&P downgrades Italy
Tuesday 20 Sep 2011
In a fresh blow to the debt troubles of the Eurozone, ratings agency Standard & Poor's downgraded its rating on Italian sovereign debt by one notch on Monday night, as poor economic growth is met with the government's austerity measures.
US close: Huge losses trimmed near the close
Monday 19 Sep 2011
Taking their lead from European markets, which suffered heavy falls on resurgent fears of Greece defaulting on its debt, US stocks headed lower with the Dow Jones suffering a triple-digit fall.
London close: Triple-digit losses as Euro worries continue
Monday 19 Sep 2011
Shares failed to recover from an early slide as ongoing worries over the Eurozone situation continued to cast a shadow. The FTSE 100 closed down 108 points.
Greece to make cuts to satisfy EU
Monday 19 Sep 2011
The Greek finance minister has said that the embattled Eurozone nation will unveil further spending cuts as it seeks to comply with conditions imposed by international creditors.
Household finances improve but still not great
Monday 19 Sep 2011
While the UK Markit Household Finance Index (HFI) still showed a weakening in household finances in September, the reading showed an improvement from the record low seen the month before.
Roof falls in at Hightex
Monday 19 Sep 2011
Shares in Hightex fell sharply after the maker of roofs for stadiums said it see a loss in its interim results after failing meet margin targets on three big contracts.
Broker snap: RBS downgrades DMGT to hold
Monday 19 Sep 2011
RBS has downgraded publisher and events organiser Daily Mail and General Trust (DMGT) from buy to hold, after cutting its earnings forecasts for this year and the next.
US open: Will Bank of America let Countrywide file for bankruptcy?
Monday 19 Sep 2011
The major US stock market averages are trading sharply lower today, with falls of close to 2% (Dow Jones Industrial: -247, Nasdaq Comp.: -55, S&P 500: -27).
Broker snap: RBS cuts airline figures across the board
Monday 19 Sep 2011
RBS has cut its target prices for airline peers easyJet, International Consolidated Airlines (IAG), Ryanair and Flybe, after assessing August traffic data across the industry.
Italy: Contagion risks continue to be elevated, Barclays says
Monday 19 Sep 2011
In a report released today, Barclays analyzes Moody's decision to keep its rating for Italy unchanged. Economists at the bank signal that "the door is open for a potential one to two notch downgrade in the short term."
Broker snap: Tookey resignation a clean sweep for Lloyds, says Evolution
Monday 19 Sep 2011
Evolution Securities has reiterated its buy recommendation on banking giant Lloyds, following the departure of its finance director Tim Tookey.
Glencore boss splashes out again
Monday 19 Sep 2011
Glencore chief executive Ivan Glasenberg has stayed true to his promise to buy more shares in the commodity trading house, splashing out £13.5m.
Cable denies knowledge of £12bn black hole
Monday 19 Sep 2011
Business secretary Vince Cable has denied a report in the Financial Times that the structural deficit in 2011/2012 is £12bn, 25% higher than previously thought.
Premium broker snap: Nomura confident about M&S after Stratford tour
Monday 19 Sep 2011
Nomura has reiterated its buy rating on high street giant Marks & Spencer (M&S) following a guided tour of the company's new 136,000 sq ft store in the Westfield shopping centre in Stratford.
Troika-Greece teleconference call postponed to this evening
Monday 19 Sep 2011
Justifiably or not much commentary today is pointing to this afternoon’s teleconference call between inspectors from the troika (European Central Bank, International Monetary Fund and European Union) and Greek officials.
French Connection on firm footing
Monday 19 Sep 2011
Fashion group French Connection said trading was back on track as it revealed an increase in half year profit and lifted its dividend payout
Sunday tips round-up: Ryanair, BG Group, National Grid
Monday 19 Sep 2011
A harder operating environment plays to the strengths of those companies which are ‘best of the breed’. This is the thesis expounded recently by Michael O’Leary, chief executive officer of Irish low-cost airline operator Ryanair. Thus, he believes, in relative terms higher oil prices will pressure his competitors more as they will be forced to increase fares and fuel surcharges. As well, a
UPDATE: Lloyds waves goodbye to two board members
Monday 19 Sep 2011
Lloyds Banking Group will wave goodbye to two of its boardroom members, finance director Tim Tookey and Scottish Widows' deputy chairman Lord Sandy Leitch.
PZ Cussons in lather over raw material costs
Monday 19 Sep 2011
'Imperial Leather' soap maker PZ Cussons said performance in the second half of the year has been in line with expectations, but the company's margins are under threat from rising raw material costs.
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