CME Group launches London market April 28, 2014 Exchanges giant CME Group yesterday launched CME Europe, its new London-based exchange for currency and commodity futures and derivatives. Around half of the global $5.3 trillion global foreign exchange market is traded each day in the UK, CME Group says it hopes to obtain greater access to this market.
Gold production rises at Randgold April 28, 2014 Gold production from Randgold Resources’ Tongon mine in northern Ivory Coast will hit 260,000 ounces this year, up from 233,591 ounces in 2013, the company said. Mark Bristow, CEO, said that if gold prices remained between $1,200 and $1,300 per ounce, the $480m spent on the Tongon mine would be repaid by 2015.
Best of the Brokers for 28 April 2014 April 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DEVELOPMENT SECURITIES Peel Hunt has a “buy” rating and 290p target ahead of the property firm’s full-year results on Wednesday. The broker is forecasting a 2.6 per cent increase in the company’s portfolio, increasing from 0.2 per cent in the first half of [...]
London Report: British economy in fifth straight growth quarter April 27, 2014 BRITAIN’S economy is expected to show its continued return to form this week, with official data likely to show a fifth consecutive quarter of expansion. Figures due from the Office for National Statistics tomorrow are expected to reveal the economy grew by 0.8 per cent in the first quarter, despite worries that February flooding would [...]
Wall St The Week Ahead: Investors want the good oil on energy stocks April 27, 2014 SINCE late February, when investors fell out of love with biotechnology and other high-flying stocks, the market’s fuel has been oil. Energy names have been the best-performing sector in the S&P 500 since February 25 when the selloff in high-growth stocks began. The sector will look to build on recent gains when bellwethers Exxon Mobil, [...]
Media consolidation: Why the agencies will keep getting bigger and bigger April 27, 2014 @LiamWardProud CONSOLIDATION at the top of the media business is nothing new. Publicis and Omnicom’s ongoing $35bn (£21bn) merger, subject to repeated delays by regulators, follows in the footsteps of the former’s acquisition of Saatchi & Saatchi in 2000. Sir Martin Sorrell, meanwhile, has continued busily adding to WPP’s bulging portfolio of companies built throughout [...]
Four new rules for writing your CV April 27, 2014 While perfection is impossible, there are simple ways to improve your career prospects YOU’LL never have a perfect CV. Should it fit on a single page, include a list of objectives, should you tell a potential employer why you have gaps in your employment history? These are contentious issues, even among recruiters. And given the [...]
What London property could you get with 50,000 Bitcoins? April 25, 2014 Estate agent Knight Frank has compared how an investment in the cyrptocurrency Bitcoin would have performed compared to an investment in highly prized central London property. In July 2010, it would have taken 50,000 Bitcoins to buy one measly square foot of an eight-bedroom mansion house in Mayfair, based on a value of £28m. By [...]
What you need to know before the US open April 25, 2014 US stocks futures suggest a lower open for markets, following Amazon and Ford falling in pre-market trading, on the back of their quarterly earnings reports. More optimistic numbers from Microsoft failed to outweigh the slightly more negative sentiment, which has been reinforced by escalating tensions in Ukraine. Corporate news Nokia has confirmed its delayed deal [...]
Here’s why 2014 could still prove a great year for Bitcoin bugs April 25, 2014 The past few months have proved to be a tough time for cryptocurrency Bitcoin. The MtGox exchange suffered a dramatic fall from grace, while the price of the digital currency has fallen by 37 per cent the year to date. However, things may be looking up for Bitcoin as venture capital money continues pour in [...]