Editor's Picks
Market overview: All eyes on Eurogroup and ECOFIN meetings
Friday 16 Sep 2011
0840: London stocks are rising by quite a bit now with all eyes on the Eurogroup and ECOFIN meetings today in Wroclaw (Poland). The above following a close yesterday on Wall Street at the session’s highs. Goldman Sachs is out this morning, however, reminding clients of the fact that volumes remain ‘muted’. Of interest, as far as headlines go, Reuters cites US Treasury Secretary Geithner as
Friday newspaper round-up: UBS, RIM, Goldman Sachs...
Friday 16 Sep 2011
Detectives holding a rogue trader who was arrested after a City bank uncovered losses of $2 billion will try today to unravel a string of complicated deals that may have been accumulating debts for weeks.
Commodities: Crude oil buoyed by ECB promise
Friday 16 Sep 2011
Crude-oil futures finished higher on Thursday, buoyed by the European Central Bank's (ECB) promise to lend European banks more dollars.
Close Brothers sells stake in non-core business for $40m
Friday 16 Sep 2011
Close Brothers, the FTSE 250 banking , securities and asset management firm, has disposed of its 49.9% stake in Mako Global Derivatives Executive, a market maker in exchange traded derivatives, for $40m (£25.3m) in cash.
Close Brothers sells stake in non-core business for $40m
Friday 16 Sep 2011
Close Brothers, the FTSE 250 banking , securities and asset management firm, has disposed of its 49.9% stake in Mako Global Derivatives Executive, a market maker in exchange traded derivatives, for $40m (£25.3m) in cash.
FX: Euro rises after ECB's dollar loan offer
Friday 16 Sep 2011
The euro rose on Thursday following a move by the European Central Bank (ECB) to offer dollar loans to the region's banks on a longer-term basis.
Friday tips round-up: Kier, Investec, Cobham...
Friday 16 Sep 2011
Kier, the construction, house-building and contracting firm, has, to its credit, managed to come through the slump rather well, drawing strength from the diversity of its operations and sound strategic moves, according to the Investment Column in the Independent. This was reflected in its results yesterday, when it revealed that underlying pre-tax profits had climbed to nearly £70m in the year to
Friday newspaper round-up: UBS, RIM, Goldman Sachs...
Friday 16 Sep 2011
Detectives holding a rogue trader who was arrested after a City bank uncovered losses of $2 billion will try today to unravel a string of complicated deals that may have been accumulating debts for weeks.
US close: ECB announcement drives gains on Wall Street
Thursday 15 Sep 2011
The three US benchmarks finished over 1.5% higher - the fourth consecutive day of gains on Wall Street - after five central banks announced a joint deal to help out Eurozone banks.
Europe close: Stocks surge as ECB helps out
Thursday 15 Sep 2011
In what was already set to be a good day for European equities, with benchmark indices making gains of 1-2% by midday, an afternoon surge meant that major markets across the continent finished the session over 3% higher.
London close: Footsie jumps on euro hopes
Thursday 15 Sep 2011
After an already strong start to trading on Thursday on the back of a Franco-German statement on Greece, markets across Europe surged following a European Central Bank (ECB) announcement in mid-afternoon, helping the Footsie in London finish over 2% higher.
UPDATE: ECB to provide banks with dollars
Thursday 15 Sep 2011
News that the European Central Bank (ECB) is to conduct liquidity-providing operations in dollars in coming months has sent already-buoyant markets soaring.
Market overview: ECB announces coordinated liquidity move
Thursday 15 Sep 2011
1442: The ECB has just announced that it will carry out three 3 month liquidity providing operations, in dollars, and in conjunction with the Federal Reserve , Bank of Japan and the Swiss National Bank, with a view to banks' possible needs towards year-end. FTSE 100 up 101 at 5,328.
Broker tips: UK banks, GKN, Kingfisher
Thursday 15 Sep 2011
Nomura has upgraded banking giants HSBC and Barclays to buy, but downgraded Lloyds to neutral, after assessing the Independent Commission on Banking (ICB) report and Eurozone risks.
Merkel´s CDU expects positive Troika report on Greece
Thursday 15 Sep 2011
Representatives of the Troika (European Union, European Central Bank, and International Monetary Fund) returned to Athens yesterday in order to analyze the Greek financial situation before reactivating the next tranche of the first rescue package.
Rolls-Royce receives engine order from new customer
Thursday 15 Sep 2011
Rolls-Royce bagged a new customer on Thursday, after Japanese airline Skymark Airlines selected its Trent 900 engines to power six Airbus A380 aircraft.
Market overview: Triple digit gains for FTSE 100
Thursday 15 Sep 2011
1630: Close An already buoyant FTSE 100 closed with triple-digit gains as news that the the ECB will carry out three 3 month liquidity providing operations in dollars in conjunction with other central banks, added to the optimism.
Broker snap: GKN is a 'cheap stock', says Evolution
Thursday 15 Sep 2011
Blue chip automotive and aerospace engineer GKN was helped higher on Thursday as the Frankfurt auto show motors on, with Evolution Securities labelling the stock as “cheap”.
Market overview: US data comes in worse than expected
Thursday 15 Sep 2011
1335: At first glance the US economic indicators just out have come in generally worse than expected, with initial weekly unemployment claims rising to the 428,000 mark (Consensus: 418,000) and the CPI coming in at 0.4% on month (Consensus: 0.2%). More data expected at 2:15PM and 3PM London time. FTSE 100 up 99 at 5,326.
Market overview: FTSE 100 up 82 ahead of Spanish debt auction, CPI data
Thursday 15 Sep 2011
0947: London stocks are trading even further in the blue at the moment. The above on the back of what some are describing as a 'relief rally' on the back of some more positive newsflow coming out of Greece. Of interest, Reuters reports that a confidential report prepared for this weekends' EU summit warns of the "risk of a vicious circle between sovereign debt, bank funding and negative growth."
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