UK manufacturing is growing at its fastest since March 2011 August 1, 2013 New figures show that the UK's manufacturing sector is growing at its fastest rate since March 2011, as Markit's purchasing manager's index (PMI) rises to 54.6. That's well ahead of expectations of a rise from 52.5 to 52.8. The pound rose sharply by nearly a cent against the dollar to more than $1.52 on the [...]
Eurozone Manufacturing Round-up: Expanding at fastest rate in two years August 1, 2013 Purchasing manager's index (PMI) paints a brighter picture for Eurozone manufacturing in July. The sector is seen to be expanding, and the only big economy to miss estimates is France. Rob Dobson, senior economist at Markit said: Eurozone manufacturing made a positive start to the third quarter, with welcome signs of growth returning to the [...]
AstraZeneca profits fall on series of key patent expirations August 1, 2013 British drugmaker AstraZeneca saw sales fall by more than expected (six per cent) in the second quarter on the loss of patent protection on a number of key medicines (release). In the first half of the year, pre-tax profits fell by 38 per cent to $1.086bn, while basic earnings per share fell to $1.47 from [...]
German manufacturing is back to growth August 1, 2013 German manufacturing is looking good, as Markit's purchasing manager's index comes in at 50.7 for the sector. Any number above 50 implies that the sector is expanding. Analysts had forecast expansion, but this beats those estimates. They had predicted a rise from 48.6 to 50.3. Growth will be wafer-thin though with Germany leading the charge [...]
French manufacturing sector misses expectations in July August 1, 2013 The French manufacturing sector has just missed expectations in July, as Markit's purchasing manager's index came in at just 49.7 from 48.4 last month. Analysts had been forecasting a rise to 49.8. The good news is that French manufacturing output has risen for the first time in 17 months. France Manu #PMI charted against INSEE [...]
Italian manufacturing sector starts to expand for first time in two years August 1, 2013 The Italian manufacturing sector is back to expansion for the first time in two years, according to Markit's purchasing manager's index (PMI). PMI rose from 49.1 to 50.4, edging into expansionary territory (any number above 50 implies expansion). Analysts had expected a rise to 49.8.
Spanish prime minister says that corruption claims jeopardise recovery August 1, 2013 Spanish prime minister Mariano Rajoy has said that Spain is about to exit recession, and that those making corruption claims jeopardise recovery. Rajoy has said that those talking about corruption are damaging Spain and its reputation, not those who are alleged to be corrupt. After the Barcenas scandal, Rajoy said that he "made a mistake [...]
BAE profits fall on delayed Saudi jet deal and US defence cuts August 1, 2013 BAE Systems has said it hopes to made double-digit growth in full year underlying earnings on the conclusion of a Saudi jet deal after delays in price negotiations pushed its first half pre-tax profits down eight per cent to £529m (release). Basic earnings per share fell to 12.6p from 12.8p in the same period the [...]
Spanish manufacturing slips back into decline August 1, 2013 Spanish manufacturing has slipped back into decline in July, as Markit's purchasing manager's index (PMI) drops from 50 to 49.8. Any number below 50 would imply that the sector is contracting. Analysts had expected the sector to expand in July, forecasting a PMI of 50.6.
Lloyds share price passes break even point for taxpayer as bank reports swing to profit August 1, 2013 Share prices in Lloyds Banking Group have surpassed what the City regards as the "real" break even point for the taxpayer as the group reports a swing to profit in the first half of the year. This morning, the Lloyds share price passed the 73.6p "real" break-even point, which represents the average price at which [...]