ANALYST VIEWS: WERE AUTONOMY’S RESULTS ALL POSITIVE? July 16, 2009 JULIAN YATES INVESTECThe results were slightly behind our expectations, but ahead of consensus. Deferred revenue is at record levels but was helped by the Interwoven acquisition and was actually below the level we expected. Overall, there is little in these results to encourage us to change our “hold” stance on the shares. ROGER PHILLIPS EVOLUTION [...]
WHAT ARE YOUR EXPECTATIONS FOR INFLATION? July 12, 2009 HOWARD ARCHER IHS GLOBAL INSIGHTInflation data for June should show a continuation of the recent downward trend. Some utility prices have been also been trimmed recently, while the upward pressure from food prices continued to ease in June.DAVID PAGE INVESTECRPI inflation data looks likely to fall deeper into negative territory – we expect -1.5 per cent. [...]
WHAT ARE YOUR EXPECTATIONS FOR INFLATION? July 12, 2009 HOWARD ARCHER IHS GLOBAL INSIGHTInflation data for June should show a continuation of the recent downward trend. Some utility prices have been also been trimmed recently, while the upward pressure from food prices continued to ease in June.DAVID PAGE INVESTECRPI inflation data looks likely to fall deeper into negative territory – we expect -1.5 per cent. [...]
BEST OF THE BROKERS July 26, 2009 VOLKSWAGENSociete Generale said the merger between Porsche and Volkswagen (VW) looks to be back on track and reiterated its “Buy” recommendation on the latter. Analyst Eric-Alain Michelis said the deal should allow VW to buy out the sports car giant without taking on its €10bn debt pile. If speculation of the group’s €8bn price tag [...]
Mortgage approvals rise but consumers remain cautious July 23, 2009 UK MORTGAGE approvals rose to their highest level in June since March 2008 as the housing market shows signs of improvement and credit conditions are easing, according to data from the British Bankers’ Association (BBA) released yesterday. Figures from the BBA showed that mortgage approvals climbed to 35,235 in June from 31,919 in May. David [...]
ECONOMIST VIEWS: WHAT IS THE OUTLOOK FOR THE UK HOUSING MARKET? July 19, 2009 SEEMA SHAH CAPITAL ECONOMICSIn our view there are more falls to come, although recent falls have been slower than seen previously. The problem is that just by looking at a couple of months rise you forget how far they have fallen from the peak. The outlook is slightly more positive than it was but we [...]
ECONOMIST VIEWS: WHAT IS THE OUTLOOK FOR THE UK HOUSING MARKET? July 19, 2009 SEEMA SHAH CAPITAL ECONOMICSIn our view there are more falls to come, although recent falls have been slower than seen previously. The problem is that just by looking at a couple of months rise you forget how far they have fallen from the peak. The outlook is slightly more positive than it was but we [...]
BEST OF THE BROKERS July 12, 2009 CHLORIDEKBC Peel Hunt cut its target price on Chloride from 160p to 140p and downgraded the stock from “buy” to “hold”, after reducing its 2011 forecasts for the group. The broker said that long-term growth drivers are intact and that service revenues will provide some resilience, but that margin pressure is inevitable.CARPETRIGHTInvestec cuts its forecasts [...]
BANK SHOCKS WITH NEW 50bn BOOST August 6, 2009 THE Bank of England’s Monetary Policy Committee (MPC) shocked the markets yesterday with an unexpected increase of its quantitative easing programme to £175bn, equivalent to 12 per cent of GDP and above the maximum authorised by chancellor Alistair Darling in March. Sterling fell more than a cent against the dollar after it hit nine-month highs [...]
BANK SHOCKS WITH NEW 50bn BOOST August 6, 2009 THE Bank of England’s Monetary Policy Committee (MPC) shocked the markets yesterday with an unexpected increase of its quantitative easing programme to £175bn, equivalent to 12 per cent of GDP and above the maximum authorised by chancellor Alistair Darling in March. Sterling fell more than a cent against the dollar after it hit nine-month highs [...]