BEST OF THE BROKERS March 28, 2010 TED BAKER Numis Securities are positive about the outlook for the retail group given the tough trading conditions in the downturn. Factoring-in a marginally better outlook for US retail and UK wholesale through 2010, Numis has raised its January forecast by £0.5m to £22.8m. Numis has issued a “hold” recommendation for now. COMPASS GROUP Numis [...]
Digital radio switchover risks backlash March 28, 2010 AN information blackout on Britain’s switch to digital radio in 2015 could create a massive public outcry, according to the House of Lords Communications Committee. Britain will move from FM to digital in five years time but according to the Communications Committee the general public and retailers have not been properly informed about its impact. [...]
World cup win would lift the UK economy March 28, 2010 A World Cup win for England could spark a spending spree and lift the country out of the downturn, according to a latest survey by PWC. Unsurprisingly, 25 per cent of men said a victory in South Africa would give the economy a boost but only 13 per cent of women agreed, out of 2000 [...]
The fund manager who swallowed New Star and is looking for more March 28, 2010 We are at the beginning of the end of the financial crisis, according to the chief executive of Henderson Global Investors. “It will be a very slow recovery throughout 2010,” says Andrew Formica, the 38-year-old boss of the UK’s third-largest listed fund manager, which boasts assets under management of £58.1bn. The confident Australian is sat [...]
CELEBRATING WITH THE CITY’S TOP 30 UNDER 30 March 28, 2010 AWARDS ceremonies, as many in the City will know, are all too often worthy but slightly dull affairs, with tables full of gnarled luminaries guffawing at bad jokes after numerous glasses of lukewarm Sauvignon Blanc. But Friday afternoon’s Square Mile 30 Under 30 London Talent Awards could not have been further from that disheartening stereotype, [...]
Dow has 11,000 target in its sights March 28, 2010 After hitting new 21-month and 18-month highs on the FTSE and DAX markets last week, European stock markets may take a breather on the open this morning, in a positive but sluggish start to the week. The FTSE turned negative for the first time in four days on Friday, yet GFT is forecasting the UK [...]
THE WEEK AHEAD March 28, 2010 IN the first of two short trading weeks in Britain, domestic economic data remains thin on the ground. Monday sees the release of some consumer credit data, broad money lending and mortgage approvals at 8.30am. On Tuesday, the third revision to fourth quarter GDP data could raise an eyebrow but no change is expected. We [...]
Retailers on a roll but storm clouds looming March 28, 2010 EVEN the worst recession for at least 60 years hasn’t been able to stop the British consumer from flashing the plastic. Snowfall might have deterred the less hardened shoppers from hitting the January sales with full force, but statistics out last week showed we returned to the high street in our droves last month. Retail [...]
Labour sees seats boost post-Budget March 28, 2010 LAST week’s Budget might have got a kicking form most in the City, but spread betters continue to short David Cameron’s Conservative party. “This is the first time that Labour’s popularity has jumped after a budget since Gordon Brown became prime minister,” says Chris Shillington from Extrabet. For the Conservatives to win an outright majority [...]
SPREAD BET GURU March 28, 2010 JOSHUA RAYMOND MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, with the EU and IMF finally agreeing a bailout for Greece, what is the focus now for the euro? A. Make no mistake, the constant uncertainty within the Eurozone concerning the spiralling deficit problems of Greece and the other so-called Pigs nations has been a major factor [...]
