Independent starts trading on Aim September 30, 2013 Independent Oil and Gas started trading on Aim yesterday, having completed a £2m fundraising that was oversubscribed. The oil and gas explorer has three licences in the North Sea and is expecting a fourth to be awarded soon. “We believe Aim will provide an excellent platform from which to deliver on our strategy of growing [...]
Best of the Brokers for 1 October 2013 September 30, 2013 WILLIAM HILL Deutsche Bank has cut its target price from 496p to 475p, while upgrading the gaming group to “buy” from “hold”. The broker believes that after an 18 per cent share price fall since August interim results, it is now time to buy into the stock again. FRENCH CONNECTION Cantor Fitzgerald has upped its [...]
London Report: FTSE is knocked by jitters in US, China and Italy September 30, 2013 BRITAIN’S top share index fell yesterday, with miners hit by weak data from top metals consumer China and with political jitters in Italy and the United States hurting broad investor sentiment. Fresnillo and Glencore Xstrata lost over two per cent after Chinese data unexpectedly pointed to a near-stagnation of private sector factory activity. Yesterday’s market [...]
New York Report: Markets slip on fear of effects from shutdown September 30, 2013 US STOCKS slipped yesterday as the possibility of a partial government shutdown rose, although major indexes were on still track to close out September with solid gains. With just hours to go before a midnight deadline to avert a federal government shutdown, the S&P 500 was down about 0.5 per cent, cutting initial losses almost [...]
CNBC Comment: US debt limit debate is the real decider September 30, 2013 SINCE the Fed surprised us by deciding not to start tapering its stimulus programme, we’re back to listening to what Fed members happen to say on the sidelines of events and finding momentum elsewhere. The two big themes to focus on next are the European Central Bank’s (ECB) rate setting meeting tomorrow, and the impact [...]
Daily FX: Analyst picks September 30, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Looking short dollar-yen, long Kiwi-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks I remain long on Kiwi-dollar from $0.8165, though I will cut the trade indiscriminately should US and Italian political issues boil over. The pair suffered mightily in [...]
Any other business – 01/10 September 30, 2013 London is officially the world’s best city, according to an influential poll published yesterday. The Capitalist was not surprised to hear our cosmopolitan capital’s famed welcome to visitors from all over the world is responsible – tens of thousands of people globally were surveyed, and cited London the best place to “fit in with culture.” The [...]
Pound hits $1.62 – highest since 3 January September 30, 2013 Growing fears that political squabbles in the US will result in a temporary government shutdown have seen the dollar weaken against the pound. It's now hit $1.62 – a 3 January high. US bonds are more mixed – 10 years slightly weaker, but five year treasuries a tad stronger. Economists are worried that a temporary [...]
Management shakeup for M&S as Asia exec leaves September 30, 2013 British retailer Marks & Spencer (M&S) is to see more change to its senior management. Sky News' City editor Mark Kleinman reported that Pascal Martin, the executive responsible for the 120 M&S stores in Asia, is to leave next month, having been with the company only since 2011. His replacement, says Sky, is Bruce Findlay, [...]
Cook says humans are most important part of Apple turnover recipe September 30, 2013 Apple boss Tim Cook has given employees of the tech giant bonus leave, so that they can have the whole Thanksgiving week off. His letter to staff is below, and recognises that "our most important resource — our soul — is our people." Team- It’s been an exciting summer. For the first time, we’ve launched [...]