Top analysts predict a poor 2010 for the UK November 30, 2009 AS THE end of the year approaches, strategists at the big investment banks start publishing their forecasts for 2010. Morgan Stanley analysts were the first off the mark, yesterday releasing a rather bleak set of predictions. Despite a brighter global outlook, the bank’s UK strategist Graham Secker thinks the domestic economy will experience a “Grim” [...]
Miners and Vodafone drag but banks offer some cheer November 10, 2009 BRITAIN’S leading share index ticked down 0.1 per cent yesterday, ending a four-day winning run, as weakness in miners and Vodafone offset strength in banks, underpinned by a strong update from HSBC. The FTSE 100 closed 4.63 points lower at 5,230.55, after hitting a two-week high earlier in the session. “After last week’s slew of [...]
Oil and drugs dominate in UK as third quarter results begin October 25, 2009 FOCUS will turn away from economic data and bank profits this week, with the spotlight now on oil titans, who will dominate the corporate reporting this week. FTSE 100 life assurance group Friends Provident kicks the week off today with a trading update, but industry giants BP, BG Group and Shell will be the big [...]
Imperial Tobacco says trade is in line with its expectations September 22, 2009 IMPERIAL TOBACCO, the world’s fourth-biggest cigarette group, yesterday said trading in its financial year to the end of September was in line with its expectations. The group, which makes Lambert & Butler cigarettes, also said its integration of acquisition Altadis is on track to deliver expected cost savings. Analysts expect the group to issue earnings-per-share [...]
Weak banks and miners pull FTSEdown by one per cent October 26, 2009 THE FTSE 100 share index ended 1 per cent lower yesterday, with mining and energy stocks suffering as the US dollar rose and commodity prices fell, while a sharp decline in ING put pressure on financials. The index ended down 50.83 points at 5,191.74, having risen as high as 5,281.12 earlier in the session. It [...]
BEST OF THE BROKERS July 30, 2009 TARSUSKBC Peel Hunt has moved to a “Hold” recommendation on media group Tarsus after recent interims. It says fundamental trading is modestly better in the current year than expected. Shares have rallied to 114p above their target price of 111p and for this reason recommendations for shareholders switch from “Sell” to “Hold”. BRITISH AMERICAN TOBACCOCazenove [...]
Burrows set for BAT chair August 16, 2009 RICHARD Burrows, former governor of the Bank of Ireland (BoI), will be named this week as chairman of British American Tobacco (BAT). Burrows will fill the gap left by Jan du Plessis, who announced in April that he was stepping down after taking up the chairmanship of mining giant Rio Tinto. BAT is the world’s [...]
BAT under fire over chairman August 19, 2009 INVESTORS last night expressed disquiet at the appointment of Richard Burrows as the next chair of British American Tobacco (BAT) less than two months after he stood down as governor of the Bank of Ireland following massive losses. Burrows will be stepping into the role on 1 November following the retirement of Jan du Plessis, [...]
London ends lower as all eyes turn to payroll data in the US September 3, 2009 THE FTSE 100 closed lower yesterday, weighed down by energy stocks, though with a rally from miners limited losses ahead of today’s key US non-farm payroll figures. The index closed the session down 20.80 points, or 0.4 percent, at 4,796.75, having traded lower on the first two days of September. But the recent powerful rally, [...]
THE LONDON REPORT September 1, 2009 THE FTSE 100 shed 1.8 per cent yesterday, dragged back by weakness in banks and commodity issues, fuelling doubts over the sustainability of this summer’s strong rally. At the close, the FTSE 100 was 89.20 points lower at 4,819.70 after ending 0.8 per cent higher on Friday, when it also touched a near 11-month high. [...]