Dividend payouts from British companies enjoy record quarter (but growth is slowing) July 22, 2013 Dividend payouts by British firms hit its largest ever quarterly total of £25.3bn in the second quarter of 2013, with media, financial services and food producers all reporting double digit dividend growth. But Capita Registrars, who conducted the research, says growth is slowing, revising down its expected underlying dividend growth to 7.7 per cent from [...]
UK has joint seventh highest national debt-GDP ratio in EU (with Spain) July 22, 2013 Government debt in eurozone countries rose to 92.2 per cent of gross domestic product (GDP) in the first quarter of 2013 – up from 88.2 per cent in the previous year (release). At the end of the quarter, securities other than shares made up 77.1 per cent of euro area general government debt, while loans [...]
Philips chief executive expresses concern over global economy even as cost cutting pays off July 22, 2013 Dutch healthcare, lighting and consumer appliances group Philips has reported a tripling of second quarter net profits compared to a year ago thanks go cost saving and a jump in sales (release). Net profits were up to €317m compared to the €102m in the same period the year before, with revenues up two per cent [...]
UBS expects to report forecast-beating second quarter profits July 22, 2013 Swiss bank UBS estimates its net profit in the second quarter of 2013 was up 62 per cent to CHF690m (£480m) – above analyst expectations of a 31 per cent rise to CHF558m. Its pre-tax operating profit is estimated to be CHF1.02bn (release). UBS’s wealth management unit – the focus of recent efforts to streamline [...]
Gold prices jump on the back of a weak dollar July 22, 2013 Gold prices jumped two per cent to a high of $1,319.70/t oz last night as the dollar fell against key currencies. This comes as Federal Reserve chairman Ben Bernanke said the ending of quantitative easing did not have a set timetable. This kind of monetary stimulus is often thought of as a support for gold. [...]
FTSE surges upward to join US stock markets July 18, 2013 Following record breaking gains from US stock markets (the S&P also broke new highs shortly after posting), the FTSE is up over one per cent, driven by rallies in the Royal Bank of Scotland, Aberdeen Asset Management, Barclays and the London Stock Exchange. Lloyds Banking Group, Kingfisher and ASOS have also hit new highs. This [...]
US stocks hit record highs July 18, 2013 Source: Yahoo The US S&P 500 stock index came close to hitting its all time high of 1,687 today off the back of confidence over monetary policy, good results from Morgan Stanley, and good employment data out earlier. The Dow Jones index also briefly set a new all-time of 15,547.12. All-time high here in $SPY [...]
Dell buyout vote postponed to next week July 18, 2013 Dell has delayed its shareholder vote on the proposed takeover by founder Michael Dell to take the company private to 24 July. This will be a significant blow for Michael Dell, who may have to sweeten his $13.65-per-share offer. Reuters cited a source close to the matter reporting Michael Dell had managed to get several [...]
Shale gas downsides must be explored properly, says Green MP July 18, 2013 Shale gas has been attacked as a publicity stunt by the coalition, whose environmental impact, risks, level of public support, and actual economic benefits have not been properly explored. Heading up a debate in Westminster Hall, Green party MP for Brighton Pavilion Caroline Lucas said her opposition was not just environmental – quoting a statistic [...]
Morgan Stanley revises down US GDP forecast July 18, 2013 Morgan Stanley has cut its second quarter GDP forecast for the US to 0.3 per cent from 0.4 per cent. The unexpected fall in housing starts and permits in June was probably temporary, said economist Ted Wieseman, but enough to warrant cutting the outlook. After a 9.4 percent pullback from the February cycle high, single-family [...]