Editor's Picks
Commodities: Crude oil falls 2.8%
Monday 05 Sep 2011
Crude oil futures fell under $87 a barrel on Friday after disappointing US jobs data prompted a rapid sell-off.
Hunting in bolt-on US purchase
Monday 05 Sep 2011
Energy services company Hunting has completed the acquisition of the business and assets of W L Doffing, a machine services provider, for a cash consideration of $20.8m (£12.8m).
Big setback for German CDU in Merkel’s home state
Monday 05 Sep 2011
One of the main reasons for the deep losses and volatility seen today in European equity markets is the news that German chancellor Angela Merkel’s Christian Democratic party (CDU) suffered a big set-back in yesterday’s elections in her home state of Mecklenburg-Western Pomerania.
Monday newspaper round-up: RBS, Ring-fencing, High Street sales...
Monday 05 Sep 2011
Taxpayer-owned Royal Bank of Scotland yesterday emerged as one of the main targets of a multi-billion pound legal case brought by the authorities in the United States. RBS, Barclays and HSBC are among 17 banks being sued by America’s Federal Housing Finance Agency.
Rio and Anglo lose interest in Palabora
Monday 05 Sep 2011
FTSE 100 mining giants Rio Tinto and Anglo American have announced that they are to offload their respective interests in South Africa-focused copper miner Palabora Mining Company.
London close: Another slide for FTSE 100
Monday 05 Sep 2011
Stocks were on the slide Monday, giving up many of last week’s gains, with banks bearing the brunt of the selling. Shares in banks fell back after a report that the ratings agency Moody’s is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend that Moody’s is awaiting the Independent
London pre-open: More misery for London
Monday 05 Sep 2011
After taking a triple-digit tumble on Friday following worse-than-expected US jobless data for August, the top-share index is set to take another dive this morning, with City traders predicting the Footsie will open at around 5,200, down from Friday's close of 5,292.
Rio and Anglo lose interest in Palabora
Monday 05 Sep 2011
FTSE 100 mining giants Rio Tinto and Anglo American have announced that they are to offload their respective interests in South Africa-focused copper miner Palabora Mining Company. Rio currently holds a 57.7% stake in Palabora, while Anglo owns a 16.8% interest. "Rio Tinto is no longer the natural owner of Palabora due to the limited opportunity to significantly expand copper mining...
Colfax in all-cash offer for Charter
Monday 05 Sep 2011
FTSE 250 engineer Charter International has named US manufacturing group Colfax Corporation as the mystery rival bidder which gatecrashed Melrose's offer on 23 August. Colfax - which supplies fluid-handling products including pumps, fluid handling systems and controls, and speciality valves - has now confirmed that it is in preliminary discussions ...
Monday newspaper round-up: RBS, Ring-fencing, High Street sales...
Monday 05 Sep 2011
Taxpayer-owned Royal Bank of Scotland yesterday emerged as one of the main targets of a multi-billion pound legal case brought by the authorities in the United States. RBS, Barclays and HSBC are among 17 banks being sued by America’s Federal Housing Finance Agency. It claims the banks used false claims in sales documents to sell billions of dollars’ worth of mortgage investments to US ...
Commodities: Crude oil falls 2.8%
Monday 05 Sep 2011
Crude oil futures fell under $87 a barrel on Friday after disappointing US jobs data prompted a rapid sell-off.
Sunday tips round-up: IMI, Aggreko, Zetar, Monitise
Friday 02 Sep 2011
“The recent market rout has hit shares in good companies hard,” says the Questor team at the Sunday Telegraph today, and in their judgement engineering group IMI is one such company. In the six months to June the manufacturer of industrial air- conditioning units, engineering for hydraulic systems and products for beverage and food dispensing reported a 12% rise in revenues. Also, the dividend to
Exceptionally weak US jobs report
Friday 02 Sep 2011
Non-agricultural job creation in the USA was stagnant in August, according to the latest data from the Labor Department.
Broker snap: UBS says it's 'time to exit' at Charter
Friday 02 Sep 2011
UBS says it's “time to exit” at FTSE 250 engineer Charter International and downgrades the stock from neutral to sell following rival Melrose’s revised offer.
SVG cashes in on Galaxy stake
Friday 02 Sep 2011
SVG Capital, which is heavily invested in fund manager Permira, is to receive a pay-out as a result of Permira's reduction of its stake in Hong Kong hotel and casino operator, Galaxy Entertainment.
Sunday newspaper round-up: ICB, ITER, UK banks, Pensions
Friday 02 Sep 2011
David Cameron wants to see a significant watering down of any proposals from the Independent Commission on Banking (ICB) to ring-fence the UK's retail banks. This is due to increasing concerns that it could prompt the departure of one of the UK's leading banks, destroy jobs and depress economic growth. The Prime Minister has told senior officials that he wants to move the banking debate on and
London close: Footsie tumbles over 2%
Friday 02 Sep 2011
The Footsie finished over 2% down on Friday, as London was not immune from the global sell-off, meaning that just eight out of the 100 blue chips stocks closed in the blue. After a poor start in early trade, sentiment was dampened after a worse-than-expected jobs report in the US which showed that no new jobs were added in the world's largest economy in August.
Market overview: US stocks set to dive after US jobs data
Friday 02 Sep 2011
1343: US non-farm payrolls have come in worse than expected, with an unchanged reading (Consensus: +53,000), while hourly earnings actually fell by one tenth of a percentage point (Consensus: 0,2%). Unemployment rate flat at 9.1%. Markets have responded in kind, with S&P 500 futures going from -0.8% before the data to -1.7% right after. Curiously enough, the Euro/dollar actually fell right after
Broker tips: Barclays, IPR, Go-Ahead
Friday 02 Sep 2011
Delays to the Independent Commission on Banking’s (ICB’s) proposal to ringfence banks have prompted UBS to upgrade UK lender Barclays from neutral to buy.
Cement producer a Steppe ahead of the competition
Friday 02 Sep 2011
The population of Astana, Kazakhstan's capital city, has more than doubled in the last 10 years.
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