Best of the Brokers for 07 March 2014 March 6, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com FOXTONS Canaccord Genuity has cut the estate agent from “buy” to “hold” but kept its target at 320p to reflect the stock’s recent strength. The broker is upbeat about Foxtons growing alongside the economy, but points out that the firm can only expand [...]
London Report: Corporates push up FTSE despite ECB and Russia March 6, 2014 BRITAIN’s top share index edged higher yesterday, buoyed by updates from Aviva and Aggreko, although lack of action by the European Central Bank (ECB) and uncertainty over Ukraine capped gains. Equities in London tracked Eurozone stocks lower, after ECB president Mario Draghi offered no new measures to boost lending in the region. Speculation that he [...]
New York Report: Stocks climb as investors wait for jobs report March 6, 2014 US STOCKS mostly rose yesterday, with the S&P 500 closing at yet another record high on better-than-expected jobless claims data and the European Central Bank’s move to keep rates unchanged. But the overall sentiment was cautious ahead of today’s all-important US nonfarm payrolls report and tensions between Ukraine and Russia. The CBOE Volatility Index or [...]
How Aviva’s leaping into the record books by hedging death rates March 6, 2014 While the news headlines surrounding insurer Aviva this morning focused on its encouraging profits and ongoing turnaround, there was one nugget of information buried deep inside its results which failed to catch the eye – just the biggest pension trade in history. In a brief line on page 126 of the 175-page tome, Aviva says [...]
Energy companies face Ofgem investigation over Christmas power cuts March 6, 2014 Ofgem is set to investigate energy companies UK Power Networks (UKPN) and SSE over their response to the storms that wreaked havoc across the UK over the Christmas period. The two electricity distribution network operators were found to have been the slowest in responding to customers and in reconnecting their electricity supply. The energy regulator [...]
The controversial migration report’s been published. Here’s what you need to know March 6, 2014 The politically contentious report into the impact of migration on UK employment by the Department for Business, Innovation and Skills (BIS) was released today. The authors have been incredibly cautious to avoid stepping on any politician’s toes – it seems to come down on the pro-migration side, as far as UK political debate goes. The report [...]
What you need to know before the US open March 6, 2014 US stocks futures suggest a muted open for US markets, as investors digest some of the data and announcement we’ve had today. Initial jobless claims for last week beat expectations, with 323,000 people signing up for unemployment benefits, down from 349,000 a week earlier. Continuing jobless claims are at 2.907m, from 2.915m. Nonfarm productivity missed [...]
Eurozone inflation will hit 1.7pc in 2016 says ECB March 6, 2014 European Central Bank President Mario Draghi has confirmed he sees rates at present or lower levels for an extended period of time, but has opted to do nothing when it comes to taking action. The bank revealed this afternoon that it expects annualised inflation to hit 1.5 per cent in 2016, and 1.7 per cent [...]
US imposes visa restrictions on Russians and Crimeans March 6, 2014 The US will be imposing visa restrictions on Russians and Crimeans who are threatening Ukrainian security. A statement issued by the White House said the US: Is putting in place visa restrictions on a number of officials and individuals, reflecting a policy decision to deny visas to those responsible for or complicit in threatening the [...]
European Central Bank holds rates March 6, 2014 Today's second central bank decision and the European Central Bank has opted to leave its key interest rate unchanged, at 0.25 per cent. All other rates have been held, too. Capital Economics has called the outcome a "disappointment". Like numerous others, the research group was hoping Mario Draghi's dovish comments would lead to some action, [...]