DEBT CRISIS: ALL EYES ON PORTUGUESE November 30, 2010 EUROZONE yields soared again yesterday as Portugal’s hopes of avoiding a bailout appeared to fade. Investors fled from Portuguese, Italian and Spanish debt, sending yields rocketing to their highest levels since the euro started. The yields on Italian and Spanish 10-year bonds also hit record levels against so-called safe-haven German debt. Pressure mounted on Portugal, [...]
DEBT CRISIS: ALL EYES ON PORTUGUESE November 30, 2010 EUROZONE yields soared again yesterday as Portugal’s hopes of avoiding a bailout appeared to fade. Investors fled from Portuguese, Italian and Spanish debt, sending yields rocketing to their highest levels since the euro started. The yields on Italian and Spanish 10-year bonds also hit record levels against so-called safe-haven German debt. Pressure mounted on Portugal, [...]
SPREAD BET GURU November 28, 2010 MARKET STRATEGIST josh@cityindex.com Q.Dear Josh, is the Christmas rally a myth? A.Historically at least, a Christmas rally is by no means a myth. The last 10 years have seen the FTSE 100 rally nine times in the month of December, with an average rally of 3 per cent. The only year where the index actually [...]
SPREAD BET GURU November 28, 2010 MARKET STRATEGIST josh@cityindex.com Q.Dear Josh, is the Christmas rally a myth? A.Historically at least, a Christmas rally is by no means a myth. The last 10 years have seen the FTSE 100 rally nine times in the month of December, with an average rally of 3 per cent. The only year where the index actually [...]
Pizza firm tops profit forecasts October 19, 2010 Domino’s Pizza yesterday reported quarterly profit that topped Wall Street’s expectations, as its new pizza recipe attracted more US diners than expected, sending shares up as much as 6.7 per cent to a five-month high. The company saw sales at restaurants open at least a year in the United States surge 11.7 per cent in [...]
BEST OF THE BROKERS September 30, 2010 MICHELIN Citigroup believes the market will take until the end of 2010 to get more comfortable with Michelin’s investment case. The broker, which rates the stock as “overweight”, estimates the €1.2bn rights issue causes around 11 per cent dilution, which implies new cash is utilised at a similar return as the rest of the business [...]
Mouchel calls in Deloitte as austerity bites December 2, 2010 MOUCHEL yesterday confirmed Deloitte has been drafted in to examine how far the firm’s future income could drop, sparking fears it could follow Connaught and Rok into administration. The engineering consulting and design group has been rocked by swingeing cuts in government spending, resulting in the haemorrhaging of contract income. Deloitte was called in by [...]
The broker who says small firms have to come up with big solutions January 3, 2011 The conventional wisdom is that it is next to impossible for small firms to raise cash, but Phil Adams, chief executive at independent investment broker Altium, says that the picture is more complicated than that. “It is pretty straightforward to raise cash if you are a well-run high-growth firm expanding by around 15 per cent [...]
The broker who says small firms have to come up with big solutions January 3, 2011 The conventional wisdom is that it is next to impossible for small firms to raise cash, but Phil Adams, chief executive at independent investment broker Altium, says that the picture is more complicated than that. “It is pretty straightforward to raise cash if you are a well-run high-growth firm expanding by around 15 per cent [...]
ECB’s Noyer reassures investors over ‘haircuts’ November 29, 2010 EUROPEAN Central Bank policymaker Christian Noyer sought to bolster market confidence in Ireland’s bailout, using a speech in Tokyo today to reassure investors of the plan’s success. Eurozone ministers – acting under pressure to prevent the crisis of confidence in the region’s finances from engulfing Portugal and Spain – also backed a long-term mechanism intended [...]