CITY OUT IN FORCE FOR MARATHON SUNDAY April 25, 2010 TENS of thousands of runners completed the London Marathon yesterday, braving 26 miles of light rain showers to get round the gruelling course. As usual, the business world’s athletic contingent did themselves proud in the race, including Sir Richard Branson, who made it round in just over five hours to celebrate Virgin’s first year sponsoring [...]
FTSE 100 hits one-month low as Greek deficit fears weigh April 22, 2010 The London Report FTSE 100 hits one-month low as Greek deficit fears weigh BRITAIN’S top shares fell to a one-month closing low yesterday after news that Greece’s deficit widened more than expected hit investor sentiment, sending commodity and bank stocks into reverse. A downgrade of Greece’s debt rating from Moody’s Investors Service added to investor [...]
ANZ considering Asia expansion April 21, 2010 Australia and New Zealand Banking Group is considering making a bid for Dallas-based Lone Star’s controlling stake in Korea Exchange Bank (KEB). Valued at $4bn (£2.6bn), this would expand Australia’s fourth largest bank’s influence in Asia considerably. KEB, South Korea’s sixth largest lender, was purchased by US private equity fund Lone Star in 2003. ANZ [...]
Lower commodity prices and concerns over Greek debt weigh on FTSE stocks April 21, 2010 BRITAIN’S top share index ended down yesterday as lower commodity prices hit miners and oil stocks and concerns over Greece’s debt returned to haunt banks, though positive broker comment boosted food retailers. The FTSE 100 index closed down 60.26 points, or 1 per cent, at 5,723.43, giving back Tuesday’s one per cent gain. “Equity sentiment [...]
Demand for bank shares lifts FTSE 100 to a 22-month high April 15, 2010 THE FTSE 100 share index hit a 22-month high for the second day yesterday, as US data and earnings reports fanned hopes that a recovery in the world’s largest economy was gathering pace, with banks also buoyed by bullish broker comment. The FTSE 100 closed 28.76 points higher at 5,825.01 – its highest close since [...]
FTSE 100 hits 22-month high as solid US results boost investor sentiment April 14, 2010 BRITAIN’s top share index hit a 22-month closing high yesterday, as solid results from JP Morgan and Intel and strong US retail sales lifted hopes that a recovery in the world’s biggest economy is gaining momentum. The FTSE 100 closed up 34.59 points, or 0.6 per cent, at 5,796.25 — its highest close since June [...]
Oil and mining shares drag FTSE lower as commodity price falls take their toll April 13, 2010 BRITAIN’S leading shares shed 0.3 per cent yesterday as oils and miners fell back on lower commodity prices, while banks moved lower on investor caution ahead of first-quarter results in the United States. At the close, the FTSE 100 was down 15.99 points at 5,761.66, having been stuck in a tight 37 point trading range [...]
China is setting the stage now for a yuan revaluation this summer April 12, 2010 THERE had been speculation that the Chinese authorities would use this weekend’s Bo’ao Forum – billed as China’s Davos – to announce a revaluation of the yuan. While observers hoping for a move were disappointed, there have been signs over recent weeks that Beijing is laying the groundwork, both in the financial markets and in [...]
Davies rejects UK board role April 11, 2010 LORD Davies, the minister for trade, investment and small business, yesterday poured cold water on suggestions he is considering quitting politics for a return to the boardroom. Commenting on speculation that he has consulted headhunters over possible roles at the helm of some of Britain’s biggest companies, Davies told City A.M. he has “no desire [...]
SABMiller is a FTSE beater April 11, 2010 LONDON listed SABMiller will aim to outperform the FTSE 100 index for the tenth straight year in 2010 and confirm its status as one of the best market-beating stocks around, according to financial website The Motley Fool. The South African brewer is expected to receive a boost from the football World Cup this summer and [...]