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, [...]
Fearless Fallon to mark return to the saddle with Sprint Cup win September 3, 2009 THE NEXT chapter in the incredible Kieren Fallon story will be written at Haydock Park tomorrow when he takes his first Group One ride after serving out his latest suspension. The controversial, yet undeniably brilliant jockey is set to ride Royal Ascot winner HIGH STANDING for Willie Haggas in the Betfred Sprint Cup. There are [...]
THE LONDON REPORT September 2, 2009 THE benchmark share index closed flat yesterday as a retreat in financials and miners, triggered by weak US data, was offset by stronger energy stocks, after a “giant” oil find by BP. The FTSE 100 index ended down 2.15 points at 4,817.55, after it fell 1.8 per cent on Tuesday. US private employers cut 298,000 [...]
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. [...]
Oils and miners bring FTSE higher, while banks also rise August 20, 2009 BRITAIN’S leading share index gained 1.4 per cent as stocks enjoyed a broad-based recovery yesterday, with heavyweight oils and miners in demand as raw material prices rose while financials also rallied. By the close, the FTSE 100 was 66.91 points higher at 4,756.58, having reversed earlier losses to close slightly higher on Wednesday. The UK [...]
HOW DID THE MARKET REACT TO RIO TINTO’S RESULTS? August 20, 2009 IVOR PETHER ROYAL LONDON ASSET MANAGEMENTThe results were a bit below consensus, and that was largely to do with the short fall in iron ore. But it is more about the outlook from here than the results that they reported. If you factor in current commodity prices they could see a substantial lift moving forward, [...]
FULL CIRCLE IN SPORT RETAILERS’ WILY WORLD August 19, 2009 IS THERE no end to the incestuous intricacies to the colourful sports retail sector? The current hot potato in the industry is the tide of bad feeling towards JJB chairman Sir David Jones, whose past emails criticising the firm’s directors were recently leaked by former chief executive Chris Ronnie, the man widely blamed for bringing [...]
CITY MOVES Who’s switching jobs August 18, 2009 RBC Capital MarketsThe corporate and investment banking arm of the Royal Bank of Canada has hired Phil Halper as a director in its Scandinavian rates trading team, based in London. Halper joins the firm with 15 years of market experience, having most recently worked at the Royal Bank of Scotland, where he was a senior [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 18, 2009 FINANCIAL TIMES THOMAS COOK SALE PLANA large part of Arcandor’s 53 per cent stake in Thomas Cook could be sold to institutional investors as early as next month as creditor banks of the insolvent German retailer try to claw back their loans. Two people close to the banking consortium said a share placing “theoretically still [...]
New RBS exec to get 917k golden hello August 18, 2009 ROYAL Bank of Scotland’s new head of its branch network will receive a £917,000 “golden hello”, it emerged yesterday, throwing fuel on the debate over executive pay at taxpayer-controlled banks. Brian Hartzer joined the bank’s management team this week from Australian bank ANZ, and is required only to remain at RBS for two years to [...]