What you need to know before the open May 27, 2014 After a day out of the loop yesterday, the FTSE will be playing catch up with European markets, which saw a strong session yesterday. The European and Ukraine elections don’t appear to have affected equities too much. Several bourses saw encouraging gains, with the Dax posting a record high. Eyes are still on European Central [...]
AstraZeneca releases statement on Pfizer’s pulled £69bn bid May 27, 2014 AstraZeneca has released a statement this morning confirming Pfizer’s shelving of its controversial takeover bid for the UK drugs firm. Yesterday, US Pfizer confirmed it's dropped the £69bn approach. It will now have to wait until the end of November, should it want to make another offer for Astra. Chairman Leif Johansson commented: We note [...]
Lloyds confirms float of TSB May 27, 2014 Lloyds Banking Group has confirmed plans to sell 25 per cent of lender TSB sometime next month, with the prospectus set to be published in mid-June. The offer will be available to institutional investors and to intermediaries. Retail investors will receive one free share for every 20 they buy, up to the value of £2,000, [...]
Any Other Business – 27/05 May 27, 2014 GOLDEN boy of the bestselling book charts, Thomas Piketty (below), fell from grace somewhat last week, after the FT gave his economic tome Capital in the Twenty First Century a good fisking and found his calculations wanting. Piketty isn’t the first published professor to come unstuck with his sums though. Last year, professors Carmen Reinhart [...]
Mixed morning for Asian markets as Ukraine tensions ease May 27, 2014 Asian markets have had a mixed morning, with investors taking heart from the possibility of monetary easing in the euro area and the conclusion of Ukraine's presidential election without further interference from Russia. On Monday, Mario Draghi said the European Central Bank (ECB) was prepared to act and counter risks that may arise from low [...]
Pressure builds on Nick Clegg while Nigel Farage targets Westminster seats for 2015 May 27, 2014 SENIOR Liberal Democrats were forced to defend battered leader Nick Clegg against calls for his resignation yesterday, after a drubbing in the local and European elections that saw all but one of the party’s Members of European Parliament (MEPs) lose their seats. An exhausted-looking Clegg said his party’s massive losses were “heartbreaking” but insisted that [...]
TSB plans to offer bonus shares to long-term investors May 27, 2014 NEW HIGH street bank TSB is expected to try to attract more long-term investors by offering a bonus for those shareholders who stick with the business. The lender is being sold off by Lloyds, and the details of the stock market flotation could be announced as soon as today. It wants the initial public offering [...]
Ukip aims for further wins as the big three struggle May 27, 2014 ■ Farage says Ukip could take top spot in June by-election ■ Vince Cable defends Clegg over calls for him to be replaced ■ Ed Miliband admits Labour has further to go in winning support UKIP has momentum heading into the Newark by-election next month, Nigel Farage claimed yesterday, as he eyes a breakthrough in [...]
What the other papers say this morning – 27 May 2014 May 27, 2014 FINANCIAL TIMES Apple readies “smart home” platform Apple is readying a new software platform that would turn the iPhone into a remote control for lights, security systems and other household appliances, as part of a move into the “internet of things”. Apple plans to take on rivals Google and Samsung and make a “big play” [...]
Major victories for anti-EU and left wing blocs May 27, 2014 ANTI-EU parties saw their vote share soar in many European countries in this weekend’s elections, with the hard left also picking up votes across the bloc. Nearly a third of the seats in the parliament will be taken up by anti-EU parties, according to think tank Open Europe. The share of MEPs that the think [...]