Editor's Picks
Investec to snap up Evolution for £233m
Friday 09 Sep 2011
Investec, the FTSE 100 South African banking titan, has made a recommended offer for Evolution Securities, beating rival bidder Cannacord in their race to snap up the investment banking and stockbroking firm. Investec announced on Friday morning that it has reached an agreement with Evolution's board on terms of a recommended share offer, valuing the company at £233.2m.
Rio Tinto invests $310m to boost production in Pilbara
Friday 09 Sep 2011
Multi-metal mining colossus Rio Tinto is to invest $310m to assure a sustainable water supply for its iron ore operations in Pilbara, Western Australia.
Tullow Oil and Shell make 'encouraging' discovery
Friday 09 Sep 2011
A joint venture between Tullow Oil and Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana. The Guyana Maritime permit said it has encountered 72m of net oil pay in two turbidite fans, and the results of drilling and sampling show "good quality reservoir sands on prognosis."
FX round-up: Euro suffers biggest drop in a month
Friday 09 Sep 2011
The euro fell 1.5% to $1.3882 against the dollar in its biggest drop in a month, after Jean-Claude Trichet, president of the European Central Bank, said the outlook for interest rate increases had been weakened as a result of "intensified downside risks" to the economy.
London pre-open: Stocks set to slide after Obama speech
Friday 09 Sep 2011
London seems less than overwhelmed by President Obama's latest plans to kick-start the US economy, with the FTSE 100 set to open around 50 points down from yesterday's close of 5,340.
Admiral hit by ban on referral fees
Friday 09 Sep 2011
FTSE 100 motor insurer Admiral could see "a small proportion" of its profits put at risk under the government's plans to ban the payment of referral fees to insurers. The Ministry of Justice (MoJ) announced on Friday that it plans to tackle rising insurance costs by placing abolishing the fees, as part of its commitment to curb 'compensation culture'.
Admiral hit by ban on referral fees
Friday 09 Sep 2011
FTSE 100 motor insurer Admiral could see "a small proportion" of its profits put at risk under the government's plans to ban the payment of referral fees to insurers. The Ministry of Justice (MoJ) announced on Friday that it plans to tackle rising insurance costs by placing abolishing the fees, as part of its commitment to curb 'compensation culture'.
Friday tips round-up: BAE Systems, Imagination, Premier Farnell...
Friday 09 Sep 2011
Defence Group BAE Systems has also seen its shares decline recently, driven down by weakening sentiment and concern about global defence budgets, notes the Questor column in the Telegraph. The falls mean that the shares are now yielding an impressive 6.8pc, rising to 7.1pc next year, offering a great opportunity for income seekers. The prospective dividend cover is more than the group target of
Friday newspaper round-up: SABMiller/Fosters, Bernanke, OECD...
Friday 09 Sep 2011
Grolsch and Peroni beer giant SABMiller is set to launch a formal £6.2billion takeover bid for Foster’s after regulators rejected its claim that the Australian brewer had made “misleading and deceptive” statements over its future earnings and debt levels. The FTSE 100 firm had turned more aggressive in its determination not to overpay ...
US close: Bernanke leaves market wanting more
Thursday 08 Sep 2011
Investors expressed their disappointment at the contents of a speech by Federal Reserve chairman Ben Bernanke by forcing equity prices lower.
Friday preview: JD Wetherspoon, HMV
Thursday 08 Sep 2011
A wide selection of ales, cheap nosh and a relentless expansion programme has served pubs operator JD Wetherspoon well over the years, though the company has not been immune to the effects of the downturn in consumer spending. Panmure Gordon suggests, meanwhile, that “current trading is likely to be fairly lacklustre given the impact of the riots in early August.”
Europe close: Bourses higher despite cautious Trichet
Thursday 08 Sep 2011
European markets finished only slightly higher on Thursday after the head of the European Central Bank (ECB) signalled the end to interest rate hikes and warned of “intensified downside risks” to Eurozone growth.
London close: Late rally pulls FTSE 100 into blue
Thursday 08 Sep 2011
It was a volatile day for the Footsie on Thursday, as a steady decline after the Bank of England (BoE) rate decision was met with a late afternoon comeback. The Footsie managed to pull above water by 16:30 to finish with a gain of 0.41%. The BoE announced at midday that it had kept interest rates unchanged at 0.5%, while holding fire on its £200bn quantitative easing (QE) programme....
Premium broker snap: Vallares/Genel merger to benefit UK E&Ps in Kurdistan
Thursday 08 Sep 2011
RBS sees the merger between Vallares and Genel as a net positive for the UK exploration and production (E&P) companies already present in Kurdistan.
Sector movers: Retailers rise after results impress
Thursday 08 Sep 2011
The retailers were in demand on Thursday afternoon, defying a generally gloomy outlook for the UK consumer, after some pleasing results from giants Morrison and Home Retail Group.
GM China sells 13.4% more vehicles in August
Thursday 08 Sep 2011
General Motors (GM) was able to increase Chinese sales by 13.4% to 205,885 units thanks to the strength and growth in the passenger vehicle business.
Bank of England QE was successful, RBS says, but is more needed?
Thursday 08 Sep 2011
While some observers deride the effectiveness of the Bank of England’s quantitative easing (QE) measures the fact is that it was successful in its main aim, posits Ross Walker at The Royal bank of Scotland. But just what exactly was that aim? And, more importantly, is more QE needed?
Broker snap: Sell Morrison despite the half-year beat, says H2O Markets
Thursday 08 Sep 2011
While Morrison surpassed market forecasts with its half yearly results on Thursday, H2O Markets has reiterated its sell rating on the supermarket giant on the back of an uncertain outlook for the UK consumer.
Stilo looks to e-books as profits rise
Thursday 08 Sep 2011
Text conversion software specialist Stilo International is planning to invest in “e-book” technology after reporting a sharp rise in pre-tax profits in the half year to 30 June.
Bonds fall back as central banks hold rates
Thursday 08 Sep 2011
UK gilts advanced after the Bank of England left monetary policy unaltered, resisting calls for further loosening through an extension of quantitative easing.
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