QinetiQ has solid first quarter July 26, 2012 Defence technology firm QinetiQ said yesterday first-quarter trade had been solid but warned that it could be hit by contract delays caused by the US elections. QinetiQ, which makes military equipment such as bomb disposal robots, said uncertainty over defence spending was reducing in the UK, but conditions in the US were unpredictable.
Volkwagen’s earning growth slows July 26, 2012 Germany’s Volkswagen suffered a slowdown in underlying profit growth in the second quarter, as costs of a technology overhaul and Europe’s deepening debt crisis weighed on the carmaker’s earnings. Operating profit grew 3.4 per cent to £2.56bn, less than the 10 per cent achieved in the first quarter.
L’Oreal sees strong luxury sales July 26, 2012 France’s L’Oreal, the world’s biggest cosmetics maker, yesterday reiterated it was on track to outperform its market in 2012 after second-quarter sales grew 5.7 per cent on a like-for-like basis. Strong luxury sales and a recovering North American market have helped L’Oreal offset stagnation in Western Europe.
US corporate results round-up July 26, 2012 Cost-cutting boosts 3M 3M, the manufacturer of Post-It notes and scotch tape, yesterday reported second quarter profit slightly higher than expected as cost-cutting offset a revenue shortfall. 3M earned $1.17bn, or $1.66 per share, compared with $1.16bn or $1.60 per share, a year earlier. Expedia income falls SECOND-QUARTER profit at travel firm Expedia fell 25 [...]
CITY MOVES | WHO’S SWITCHING JOBS July 26, 2012 Saxo Capital Markets UK Nick Beecroft has been appointed chairman of Saxo Bank’s UK online trading subsidiary. He has worked at the firm since 2009, most recently as senior markets analyst. Beecroft has over 30 years’ experience in international trading, and has also held roles at Standard Chartered and Deutsche Bank. Speechly Bircham James Trafford [...]
BEST of the BROKERS July 26, 2012 BTG Peel Hunt has moved the healthcare specialist from Hold to Sell, shifting the target price from 350p to 340p. BTG has doubled its share price since mid 2008 and Peel Hunt says now is the time to take profits. CAPCO UBS has changed its advice from Buy to Neutral for the property company with [...]
FTSE breaks four-day losing run as Draghi’s speech boosts mood July 26, 2012 BRITAIN’S top share index rose yesterday after European Central Bank president Mario Draghi pledged to act if needed to preserve the euro, boosting sentiment among investors hoping for a fresh round of stimulus. Speaking at an investment conference in London, Draghi said the central bank was ready to do whatever it takes within its mandate [...]
Wall St rises on hopes of action to save euro July 26, 2012 US stocks rode a wave of hope inspired by comments from European Central Bank President Mario Draghi yesterday, ignoring mixed corporate results to focus on the strongest signal yet of the ECB’s intentions to protect the Eurozone. Draghi hinted the ECB would target high sovereign bond yields, a measure the ECB has been reluctant to [...]
Pearce blames nerves for GB’s anti-climactic opener July 26, 2012 LONDON 2012 GREAT BRITAIN 1 SENEGAL 1 TEAM GB manager Stuart Pearce felt nerves were responsible for his side’s uninspiring start to the Olympics after an occasion where physical bruises exceeded even those of the ego. It was the 20th-minute when Craig Bellamy scored Britain’s opening goal but control thereafter remained elusive and Senegal’s late [...]
Bolt believes in body and mind for Games July 26, 2012 OLYMPIC champion Usain Bolt has vowed to be fit to defend the 100m and 200m titles he won four years ago at the Games in Beijing. Since breaking his own 100m world record with an astonishing 9.58 seconds at the 2009 World Championships, concerns have arisen surrounding a discernible degree of complacency and lack of [...]
