Editor's Picks
Italy rejigs austerity plan
Tuesday 30 Aug 2011
Italy made sweeping changes to its widely-contested €45.5bn austerity package on Monday, in a bid to recover some support after its original plan was met with widespread public anger.
London close: Miners, banks lead the surge
Tuesday 30 Aug 2011
The FTSE 100 traded higher on Tuesday, following through on this morning's impressive start, as the index attempted to play catch-up after missing out on yesterday’s rally due to the Bank Holiday. Royal Bank of Scotland led the risers on the blue chip index after Deutsche Bank upped its rating for the part-nationalised lender from hold to
Sector movers: Coppers prices boost industrial miners
Tuesday 30 Aug 2011
The industrial metals and mining sector was the best performing sector on Tuesday afternoon, helped by rising copper prices.
Small caps blog: Pushy e-mail providers
Tuesday 30 Aug 2011
Back on 11 August on this blog I wrote about Emblaze, the Israeli technology company that is one of a long list of businesses making Apple's lawyers richer.
British Polythene remains cautious despite profit rise
Tuesday 30 Aug 2011
Manufacturing firm British Polythene Industries (BPI) is not counting its chickens yet despite a strong performance for the six month period to 30 June.
US Open: Stocks retreat following confidence data
Tuesday 30 Aug 2011
The main US equity benchmarks are now giving back some ground (Dow Jones Industrial: -87, Nasdaq Comp.: -20, S&P 500: -12), following yesterday’s gains and the release, earlier this afternoon, of a very weak reading on consumer confidence.
BP commences alliance with Reliance
Tuesday 30 Aug 2011
Oil giant BP is to pay Indian energy firm Reliance Industries $7.2bn (£4.42bn) after its acquisition of a 30% interest in several Indian production blocks was completed on Tuesday.
Leading indicators point to marked slowdown in Eurozone
Tuesday 30 Aug 2011
The Eurozone’s Economic Sentiment Indicator fell 4.7 points to 98.3 in August, according to Eurostat, the Statistical Office of the European Union.
Broker snap: Bernstein downgrades Nestle to neutral
Tuesday 30 Aug 2011
US brokerage Sanford C. Bernstein has downgraded Swiss foods giant Nestle to neutral, from overweight, and lowered the price target to 52 Swiss francs, from Sfr64.
BP commences alliance with Reliance
Tuesday 30 Aug 2011
Oil giant BP is to pay Indian energy firm Reliance Industries $7.2bn (£4.42bn) after its acquisition of a 30% interest in several Indian production blocks was completed on Tuesday. The FTSE 100 company will have an interest in 21 oil and gas production sharing contracts that Reliance operates in India, including the KG D6 block
Daniel Stewart recovering well
Tuesday 30 Aug 2011
Stockbrokers Daniel Stewart Securities has reported strong results for the fiscal year, which showed the company is recovering well, despite difficult market conditions.
Broker snap: Strong maiden results for Perform, says Peel Hunt
Tuesday 30 Aug 2011
Peel Hunt says that Perform Group’s maiden interim results – since its initial public offering (IPO) in April – have reported solid trading, and kept its positive stance on the sports digital media firm.
US pre-open: Stocks point lower ahead of economic data
Tuesday 30 Aug 2011
US stocks are pointing lower amid expectations of some sombre economic data.
Bank of England: mortgage approvals at 14 month high
Tuesday 30 Aug 2011
The number of mortgages getting the go-ahead reached a 14 month high in July, according to the Bank of England, but unsecured lending was at its lowest level since January. The central bank reported that mortgage approvals for house purchases rose to 49,239 in July, up from 48,500 in June and a four-month low of 45,855 in April.
Europe midday: Business climate shocker
Tuesday 30 Aug 2011
After a solid start, markets have mostly relinquished early gains, as futures markets indicate Wall Street will open lower while economic data has also proved a downer on sentiment.
London midday: Stocks keep gains as London catches up
Tuesday 30 Aug 2011
The top share index is outpacing its continental rivals this morning, though only as it missed out on yesterday’s rally due to the Bank Holiday.
Cupid hits the spot with international expansion
Tuesday 30 Aug 2011
Online dating firm Cupid said its first half performance had exceeded expectations as lonely hearts across the world turned to its services.
Broker tips: International Power, James Fisher, Perform
Tuesday 30 Aug 2011
Despite International Power’s (IPR) recent strong performance, UBS has kept its buy rating on the power generator and said that upgrades are expected following an investor day in September.
Asia: Stocks bounce back
Tuesday 30 Aug 2011
Stocks in Tokyo jumped 1.16% on Tuesday after a strong close in the US with financials and exporters leading gains.
Sharp slowdown in services sector
Tuesday 30 Aug 2011
Britain’s service sector saw volumes fall by the fastest rate since November 2009 in the last quarter, the Confederation of British Industry (CBI) has said. CBI head of fiscal policy Richard Woolhouse said activity also fell in all sub-divisions of the service sector for the first time since November 2009.
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