Positive earnings news buoys markets July 19, 2011 Markets tipped into the black today after days of sell-offs prompted by ongoing sovereign debt fears. UK stocks climbed on a raft of company news as quarterly earnings data proved largely positive. The FTSE 100 ended 0.7 per cent higher at 5,789.99 as banks and miners were bought widely after selling yesterday left them looking [...]
BAT in $452m deal for Protobaco May 26, 2011 British American Tobacco said it had agreed to buy the privately owned Productora Tabacalera de Colombia, the second largest cigarette company in Colombia, for $452m (£277m). The London-based second biggest cigarette maker in the world said the deal will elevate it to second from third place in Colombia, Latin America’s fourth largest cigarette market with [...]
BEST OF THE BROKERS May 18, 2011 BAE SYSTEMS Goldman Sachs rates the defence group “sell” with a target price of 290p. The broker has cut its earnings per share forecast by two per cent for the year after an investor day. Goldman warns BAE is unlikely to start a share buyback until it has sorted a pensions dispute, with focus instead [...]
BEST OF THE BROKERS May 18, 2011 BAE SYSTEMS Goldman Sachs rates the defence group “sell” with a target price of 290p. The broker has cut its earnings per share forecast by two per cent for the year after an investor day. Goldman warns BAE is unlikely to start a share buyback until it has sorted a pensions dispute, with focus instead [...]
ROTHSCHILD COURTS OLIGARCHS UNDER £1M MONTENEGRO SKIES July 10, 2011 BIG BUSINESS came to Montenegro this weekend, lured by the £1m fortieth birthday celebrations for Nat Rothschild, the billionaire scion of the Rothschild banking dynasty. Peter Mandelson, Russian investor Oleg Deripaska and Chelsea owner Roman Abramovich were among the 300 oligarchs and mining magnates who flew to “the St Tropez of the Adriatic” for the [...]
FTSE climbs as risk appetite returns June 14, 2011 London stocks are gaining ground this morning after heartening economic data from China led Asia to a positive finish overnight and boosted commodities. Energy and metals prices are rising after data showed China’s inflation rate remains high at 5.5 per cent. That rate was better than some expected, though, while retail sales data also showed [...]
Banks drop but FTSE treads water ahead of Fed decision June 22, 2011 BRITAIN’S top share index closed marginally lower yesterday, as weakness in banks offset gains in defensive stocks with investors jostling positions ahead of a US interest rate decision. London’s blue chip index bobbed around but closed down 2.32 points at 5,772.99, as cautious investors awaited the Federal Reserve’s assessment of the economy and any plans [...]
Strong miners give FTSE a boost May 26, 2011 STRENGTH in heavyweight mining stocks helped Britain’s top share index edge higher yesterday, countering slippage by banks on Eurozone debt concerns. At the close, the FTSE 100 was up 10.9 points, or 0.2 per cent at 5,880.99, well below a morning spike above the psychologically important 5,900 level to 5,910.77. “The overall impression … is [...]
Profit surge lifts Imperial Tobacco stock May 10, 2011 SHARES in Imperial Tobacco rose 3.1 per cent yesterday, after the world’s fourth-biggest cigarette maker beat forecasts with first-half earnings growth, and announced a £500m share buyback. The Bristol-based company posted adjusted earnings for the half-year to the end of March of 88.4p a share, beating consensus expectations of 87.8p. The half-year dividend is up [...]
FTSE lifted by commodities and Man Group May 26, 2011 The FTSE rose today as commodity stocks received a lift while a series of positive corporate results helped to boost investor sentiment. As G8 leaders gathered in France with the future leadership of the IMF and the eurozone debt crisis at the heart of the talks, global markets regained some lost confidence. Investors once again [...]