Check the momentum behind any break out September 20, 2010 DESPITE a summer where equities drifted sideways and the recent slew of less upbeat economic data, the FTSE 100 has had a promising start to the autumn. Since the start of September it has risen around 400 points to close yesterday at 5,602.4 and some market participants are anticipating another move higher. “UK equities are [...]
TRUST GOLD MORE THAN POLITICIANS September 20, 2010 The summer is behind us. While equity trading volumes have yet to pick up, we’ve seen more activity from policymakers and central banks. Last week’s intervention by the Bank of Japan (BoJ) to halt the rise of the yen was a notable example. However, investors are likely to test the BoJ’s resolve. Germany is watching [...]
FTSE 100 gets a US boost to close at a four-month high September 20, 2010 Britain’s leading share index extended early gains to close strongly yesterday, after US market bulls helped London to its highest close since late April. The FTSE 100 closed up 94.09 points, or 1.7 per cent, at 5,602.54, more than reversing the 0.6 per cent decline in Friday’s session after risk appetite made a strong return. [...]
Wall St rises, S&P makes strong gains September 20, 2010 The S&P 500 closed at a four-month high yesterday as a long-awaited break above a technical range and a flurry of positive corporate news increased investor optimism. The break came a day before a Federal Reserve meeting in which the central bank is expected to renew a promise to keep its portfolio from shrinking but [...]
A libertarian innovator burning to see his company grow even further September 20, 2010 Fresh off the plane from Denmark, Kim Fournais talks rapidly, his passion unmistakable. He is in celebratory mood. “Saxo Bank is 18 years old today – we are old enough for a driving licence!” Evidently, to Fournais the company he helped found is still young. “I love it. I love what we’re trying to do. [...]
Petra results sparkle after stone sale September 20, 2010 PETRA Diamonds announced record pre-tax annual profits of $70.2m (£45.1m) yesterday, in a remarkable turnaround from the losses of $89m it announced in2009. Gross revenue at the mining company also increased to $177.7m for the year, up 88 per cent on the $94.4m recorded in the 12 months to 30 June 2009. The mining company, [...]
Petra September 20, 2010 DIAMONDS are a shareholder’s best friend. Yesterday’s prelims from Petra cap a year that has been full of positives. A six per cent increase in gross production to 1.16m carats a year and a bigger stake in the Cullinan mine, from 37 per cent to 74 per cent, were the main underlying factors. But it [...]
Unite to wage legal war on BA in courts September 20, 2010 TRADE union Unite is preparing to wage a legal war on British Airways (BA) as the fight between the two gets set to hit the courts once again. Unite is to launch a legal battle at the High Court this week over the removal of travel perks for up to 7,000 cabin crew who went [...]
Flybe looks at expansion after profitable year September 20, 2010 FLYBE, the UK’s largest domestic airline, has flown back into profit despite the damaging effects of the recession on the commercial aviation industry and has set its sites on expansion in Western Europe. Pre-tax profit excluding one-off items in the year to 31 March 2010 came to £5.7m, marking a rise from last year when [...]
Caan eyes luxury houses as he teams up with K10 September 20, 2010 James Caan, the entrepreneur best known for his role in the BBC TV programme Dragon’s Den, has joined forces with Kam Babaee of K10 Developments to launch Hamilton Bradshaw Real Estate (HBRE). The new venture aims to combine Caan’s investment insight with the K10 Developments’ experience in high-end central London development to become the market [...]
