Royal Mail shares surge as seller Hargreaves Lansdown buckles under weight October 11, 2013 Royal Mail shares have surged this morning, rising as high as 456p after a debut of 450p, soaring above the offer price of 330p. Share seller Hargreaves Lansdown has seen its systems crash trying to deal with the sheer volume of trade; investors have taken to social media platform Twitter to air their frustration. More [...]
Downgrade to ‘sell’ for power hire business Aggreko October 11, 2013 Investment bank Canaccord Genuity has downgraded its rating for temporary power hire business Aggreko to 'sell'. Canaccord highlighted the continued slow conversion of prospects into sales, pricing pressure, currency headwinds and material contracts coming to an end as reasons for initiating a 'sell' forecast for the company's next two financial years. In June of this [...]
Hargreaves Lansdown system crashes on Royal Mail trade October 11, 2013 There's been some significant annoyance for Royal Mail investors this morning as Hargreaves Landsdown systems buckle under the weight of trading: We are sincerely sorry for anyone who hasn’t been able to trade this morning and are doing all we can to meet client demand — Hargreaves Lansdown (@HLInvest) October 11, 2013 All available staff [...]
Shale gas revolution will see US become largest oil producer October 11, 2013 The International Energy Agency has called America's shale energy revolution a "game changer," and said that it will be a major factor in the Unites States becoming the worlds largest oil producer over the next five years. The 2013 medium-term oil market report evaluates the impact of changes to the oil market up to the [...]
Nobel Peace Prize awarded to weapons prohibition group working in Syria October 11, 2013 The Nobel Peace Price 2013 has been awarded to the Organisation for the Prohibition of Chemical Weapons OPCW) for their work dismantling Syrian chemical weapons. The committee panel said that the group's work has "defined the use of chemical weapons as a taboo under international law", highlighting the vital need for such groups given the [...]
UK construction surges on housing growth – but building is still behind UK’s needs October 11, 2013 UK construction is up four per cent in the year to August, according to new ONS estimates, and that's largely driven by new work. New work rose 5.5 per cent in the same period, with the new housing subcomponent of that category up 16.7 per cent while infrastructure fell by 5.5 per cent. Despite that [...]
Italian inflation softens in September October 11, 2013 Italy sees a softening of inflation as the consumer price index for September comes in at -0.3 per cent, in line with expectations. Last month, inflation was at 0.4 per cent. Year-on-year, the increase was in line with expectations at 0.9 per cent – down on August-August's 1.2 per cent rise.
Two thirds of economists oppose Help to Buy October 11, 2013 A Bloomberg News survey of 31 economists has shown a majority oppose the government's controversial Help to Buy scheme. Two thirds of the economists surveyed described the scheme as "bad." The government intervention into the housing market will see taxpayers on the hook for 15 per cent of a home's value, the purpose of which [...]
Royal Mail shares debut at 450p October 11, 2013 Royal Mail shares have opened at 450p (from the 330p sale price) as grey market trading begins this morning. The 36 per cent increase means that the Royal Mail is large enough to join the FTSE 100, with a market cap of over £3.1m. About 690,000 would-be investors are to receive a share allocation worth [...]
Shares plummet as Chemring profit takes hit from US shutdown and Middle East tension October 11, 2013 Aerospace defence group Chemring has announced a rather gloomy trading update for the third quarter, saying its profit is being dealt a blow from the US shutdown and tensions in the Middle East. (Release) 2013's anticipated operating profit the company says, going to be affected by the closure of a large number of government departments [...]