Best of the brokers for 8 August 2013 August 7, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com MILLENNIUM & COPTHORNE Jefferies maintains its “hold” recommendation and 510p price target on the hotel chain, despite quarterly results which were worse than the broker’s forecasts. Jefferies warns that a slowdown in performance in Asia will continue, but is upbeat about the firm’s [...]
City Moves for 8 August 2013 | Who’s switching jobs August 7, 2013 Lombard The asset finance provider has announced the appointment of Richard Hemsley as managing director. He was most recently at RBS, where he was chief logistics officer in its international banking division. Speechly Bircham Victoria Younghusband has joined the City law firm as a partner in its financial services and funds team. Younghusband specialises in [...]
London Report: FTSE slumps to 4-week low on tightening fears August 7, 2013 THE FTSE 100 share index closed at a four-week low yesterday on concerns the Bank of England (BoE) and the US Federal Reserve may start tightening monetary policy earlier than expected. A day after two Fed officials suggested the US central bank may cut the pace of bond purchases as early as next month, the [...]
New York Report: Wall St drops again on doubt over Fed policy August 7, 2013 US stocks fell for a third straight day yesterday on growing concerns over the longevity of the Federal Reserve’s stimulus policy, which has been widely credited with fuelling the market’s gains this year. Even after shares suffered their biggest decline since 24 June on Tuesday, the market was unable to shake off comments from a [...]
Keep busy when the sun goes away August 7, 2013 Summer is rubbish for technology releases. Screens don’t work very well outside, and everyone is too busy lounging on the beach or frolicking in fields to appreciate them, anyway. Thankfully we’ve only got a few weeks more before we’ll be holed up in our freezing flats, shivering and pretending the outside world doesn’t exist. And [...]
Any Other Business – 08/08 August 7, 2013 ■ Mark Carney Watch was on red alert yesterday, as the new Bank of England governor gave his much-anticipated inflation report. And bookmakers didn’t waste any time releasing odds on when Carney would break his own forward guidance policy. Bookies Ladbrokes gave the governor 1/3 to renege before his term finishes (Carney won’t be too [...]
VIDEO: Bank of England governor explains forward guidance policy August 7, 2013 Here's Bank of England governor Mark Carney explaining the forward guidance policy he announced earlier.
Vodafone to lure customers onto new 4G service with sport and music services August 7, 2013 Vodafone has announced it will be launching its high speed 4G service on the same day as rival O2 on 29 August. The operator will be looking to get the edge on its rival by offering 150 hours of Premier League football from Sky Sports or music from online streaming service Spotify Premium – as [...]
Fitch affirms AAA rating for Germany assuming strong growth and no more contributions to eurozone crisis mechanisms August 7, 2013 Ratings agency Fitch has affirmed Germany’s rating as “AAA” with a stable outlook (release). Fitch said the affirmation reflects a number of factors including: The government has overachieved on some key fiscal targets, beating its target for headline fiscal balance for the second consecutive year in 2012 with a surplus of 0.2 per cent of [...]
City inhabitants nearly three times more productive than UK average August 7, 2013 City residents account for nearly three times the GDP output per person than the UK average, according to a new study by trade union GMB (release). The study measures GDP using the purchasing power standard (PPS) per individual, which is intended to eliminate differences in purchasing power between regions and countries. By this measure, GDP [...]