FTSE 100 smashes through 6,200 barrier January 24, 2013 The blue chip index edged up in early trades, and smashed through the 6,200 barrier although disappointing results from US technology behemoth Apple weighed on sentiment. The company posted record profits last night, but warned of lower revenue growth in the coming months, which sent its shares down more than 10 per cent in after-hours [...]
Confident Dubai raises $1.25bn as it returns to the bond market January 23, 2013 THE GOVERNMENT of Dubai cemented its comeback to the bond markets late on Tuesday, comfortably selling $1.25bn (£787m) in notes as the Middle Eastern state takes advantage of its improved image among investors. It launched both a $750m 10-year Islamic bond – known as a sukuk – as well as offering a more conventional $500m 30-year bond. [...]
Why the investment credential is moving fast to stay relevant January 23, 2013 THE Chartered Financial Analyst (CFA) programme aims to produce individuals with a good understanding of the key techniques, major asset classes, and ethical and professional standards most needed in today’s investment industry. The course is made up of three progressive levels of study. Level I focuses primarily on testing investment tools, Level II on asset [...]
Unilever boosts FTSE 100 as it edges towards 6,200 January 23, 2013 The leading share index edged up towards the 6,200 level this morning, led by consumer goods group Unilever. The stock was the strongest riser on the FTSE 100 this morning, on the back of a buoyant trading statement. Turnover jumped 10.5 per cent in 2012, boosted by growth in emerging markets. Martin Deboo at Investec [...]
FTSE 100 dragged down by Pearson and Fresnillo January 22, 2013 The FTSE 100 was trading modestly down this morning, although it was still near its highest level in four and a half years. On the blue chip index, education giant Pearson continued its losses from yesterday and shed 2.33 per cent this morning. Yesterday it warned that annual profits would be lower than expected amid [...]
Bankers leave glamorous jobs for compliance roles January 21, 2013 BANKERS are retraining in compliance in unprecedented numbers either to change career as their traditional jobs are cut, or to make sure they are well prepared to cope with tough new regulations, according to figures seen by City A.M. The City has lost over 100,000 jobs since the start of the financial crisis as banks [...]
Crest Nicholson plots return to London market January 21, 2013 UK HOUSEBUILDER Crest Nicholson is to return to the stock market nearly six years after it was taken private at the height of the housing market crash. The 50 year-old company, which builds homes mainly in the south of England, said it plans to raise £50m from the listing of new shares to pay down [...]
City Moves for 22 January 2013 | Who’s switching jobs January 21, 2013 Mayer Brown The law firm has appointed Alistair Graham as a litigation partner in its London office. He joins from White & Case, where he was a partner in its London commercial litigation practice. Graham has previously worked as enforcement counsel to the FSA, where he assisted in the run up to the introduction of [...]
Bank recovery is unlikely but true January 21, 2013 Chief Market Strategist, Cantor Index WHO would have thought that the banking sector would make such a spectacular recovery in 2012? And who expected it would do so in the wake of a breathtakingly toxic European sovereign debt crisis, which came to a crescendo when the European Central Bank president Mario Draghi made that immortal [...]
Admiral leads FTSE 100 up January 21, 2013 As snow engulfed the City in white this morning, the leading share index was marginally up, although trading is expected to be quiet. Defensive shares were up on the FTSE 100 in early deals, as insurer Admiral lead gains, adding 5.3 per cent on the back of an upgrade from Goldman Sachs. Utility firms SSE, [...]