Gazprom mulls float of units September 6, 2010 RUSSIAN energy company Gazprom said yesterday it planned to combine its numerous electricity holdings under a single entity that it would float on the stock market. Combining the assets, some of them large electricity providers, would create Russia’s second-biggest power producer after state-controlled Rushydro, Renaissance Capital analyst Vladimir Sklyar said. The consolidation would be done [...]
Pramerica moves £100m of London office buildings September 6, 2010 INVESTMENT manager Pramerica announced the completion of £100m of property transactions yesterday, in a sign that the prime London office market is beginning to move. The real estate investor bought 20 Grafton Street in Mayfair for £47.8m, on behalf of a family office. The building is currently fully leased to investment bank Perella Weinberg Partners, [...]
IMF: Europe and US face weak growth September 6, 2010 ECONOMIC growth will likely remain weak both in Europe and the United States, despite recent strong growth figures in Europe, and Germany in particular, IMF chief economist Olivier Blanchard said in remarks published yesterday. A US slowdown would have an automatic impact on growth in Asia in the short term but “decoupling” between emerging market [...]
Fed should be prepared to embark on a new stimulus blitz, says ex-vice chair September 6, 2010 THE Federal Reserve should not announce a limit on its actions if it resumes purchases of Treasury securities to stimulate the US economy, the former vice chairman of the central bank said. Donald Kohn, who retired as vice chairman last week, told the New York Times in an interview published yesterday that the economy was [...]
Lidl loses UK managing director after one year September 6, 2010 LIDL UK managing director Frank-Michael Mros is understood to have stepped down from his post. According to reports in Germany, where Lidl is based, Mros, who replaced Marcel Oosterwijk last summer, stepped down from the post last week. Lidl declined to comment yesterday. His appointment was controversial as he was the previous boss of Germany [...]
Oil and bank stocks push FTSE higher September 6, 2010 F IRMER banks and energy stocks, lifted by an improved outlook for the global economy, fuelled slight gains on Britain’s top share index, pushing it to its highest close in over four months yesterday. The FTSE 100 ended 11.04 points, or 0.2 per cent higher, at 5,439.19, up for a seventh consecutive day after it [...]
Utilities top Eurozone leaderboard September 6, 2010 E UROPEAN shares edged higher yesterday, adding to a strong rally last week, with utilities rising after Germany extended nuclear power plants’ lifespans, but in low volumes with Wall Street closed. Drugmaker GlaxoSmithKline was among shares falling, on concerns about its Avandia drug. The pan-European FTSEurofirst 300 index of top shares rose 0.2 per cent [...]
Betting on merger deals demands nimble trading September 6, 2010 WITH global mergers and acquisitions (M&A) on the rise and 2010 already being hailed as a blockbuster year, it might seem easy to benefit from sudden equity gains on the back of deals. But despite the impressive stock swings in response to M&A news, traders should be wary. Betting on deals that might not happen [...]
DON’T BANK ON FURTHER S&P RALLIES September 6, 2010 CFD MARKET STRATEGIST, GFT SEPTEMBER kicked off with impressive rallies on global equities. It was certainly a “risk on” start to the month and echoed the market moves that we saw back at the beginning of August. In fact, the S&P has already made back all its August losses and more. But last month’s initial [...]
Food inflation to benefit UK supermarkets September 6, 2010 UPWARD pressures on food prices appear to be here to stay. Global demand is increasing while droughts and fires last month hit harvests in Russia and Ukraine. Market researcher Kantar Worldpanel anticipates that UK grocery inflation will rise to an annualised 4 per cent by the end of 2010 from its current rate of 2 [...]
