UK deficit a record high for August September 21, 2010 Britain last month posted a record budget deficit for August as interest payments on index-linked gilts shot up because of higher inflation than a year ago, official data showed. The Office for Nationals Statistics (ONS) said public sector net borrowing came in at £15.302bn, well above analysts’ forecasts for a reading of £12.5bn and some [...]
Top 100 list shows women at senior level September 26, 2010 MORE than a fifth of Europe’s 100 most influential women sit at the top of some of the largest companies within the financial services sector, according to new findings. According to the fourth annual list of the 100 most influential women compiled by Financial News, more than 20 per cent of the listed women in [...]
Gartmore on the block as star resigns November 8, 2010 GARTMORE yesterday said its star manager Roger Guy had resigned and the firm put itself up for sale, firing the starting gun for rivals to cut a deal before heavy outflows damage the group irrevocably. Goldman Sachs has been appointed to examine the options for the firm, which chief executive Jeffrey Meyer said would include [...]
BEST OF THE BROKERS July 5, 2010 TUI TRAVEL UBS upgrades TUI Travel from “neutral” to “buy” with a lower price target of 250p. UBS said that market risk aversion and concerns that a late collapse in summer 2010 sales will cause a significant earnings downgrade seem to have caused the shares to sharply underperform. UBS believes the stock now offers good [...]
BEST OF THE BROKERS July 5, 2010 TUI TRAVEL UBS upgrades TUI Travel from “neutral” to “buy” with a lower price target of 250p. UBS said that market risk aversion and concerns that a late collapse in summer 2010 sales will cause a significant earnings downgrade seem to have caused the shares to sharply underperform. UBS believes the stock now offers good [...]
Expect to see a widening gulf in the Eurozone September 21, 2010 STERLING plunged against the euro yesterday as worse-than-expected UK deficit figures exacerbated what was already a strong rally from the single currency. Coupled with solid demand at Spanish, Greek and Irish government bond auctions, this was enough to send sterling-euro down to a three-month low, with the euro also gaining a cent against the dollar. [...]
Expect to see a widening gulf in the Eurozone September 21, 2010 STERLING plunged against the euro yesterday as worse-than-expected UK deficit figures exacerbated what was already a strong rally from the single currency. Coupled with solid demand at Spanish, Greek and Irish government bond auctions, this was enough to send sterling-euro down to a three-month low, with the euro also gaining a cent against the dollar. [...]
ECONOMIST VIEWS: WHAT DO YOU EXPECT FROM THE PMIS THIS WEEK? August 1, 2010 JONATHAN LOYNES | CAPITAL ECONOMICS “Services output is estimated to have risen by 0.9 per cent in the second quarter but the sharp drop in the business expectations balance in June suggests that the headline activity index could have fallen further in July.” DAVID PAGE | INVESTEC “The manufacturing and services PMIs are likely to [...]
CITY RUNNER | GARMIN #4MILER August 25, 2010 EUROPEAN CLIENT MANAGER THE DAY is young, the markets are still closed and tourists haven’t descended yet – and that’s just how Holly Cracknell likes it. Well, that’s when she prefers to pound the City’s streets as part of Investec’s in-house assault on the Garmin #4miler, at any rate. “I run first thing in the [...]
BEST OF THE BROKERS August 9, 2010 MEGGITT Citi reiterates its “buy” rating on Meggitt saying its recent share price weakness is overdone. Acknowledges that first-half sales were disappointing, but is confident of a second-half recovery. Notes also that first half margins were significantly better than expected, and that cost-cutting continues. “Valuation remains compelling,” it says. RBS Morgan Stanley reiterates its “equal-weight” [...]