Analyst Views: What should investors look for next from the Bank of England? August 8, 2014 ROBERT WOOD | BERENBERG We expect the Bank to respond to the increasingly resilient outlook by hiking rates by 25 basis points in November.If there was a split vote this month, with perhaps one of the MPC calling for a hike, that could tell us a little more about the committee’s thinking. VICTORIA CLARKE | [...]
Karen Millen targets US expansion August 8, 2014 BRITISH fashion retailer Karen Millen said it planned to ramp up its expansion in the US after launching its first flagship store on New York’s 5th Avenue yesterday. The brand has 15 concessions inside US department store Bloomingdale’s and said it would open another five as well as further standalone shops amid strong US demand.
Italy rejects recession fear August 8, 2014 ITALIAN economy minister Pier Carlo Padoan yesterday insisted the country’s economic strategy was sound despite it unexpectedly falling back into recession in the second quarter. Data released on Wednesday showed that economic output had contracted 0.2 per cent in the second quarter after falling 0.1 per cent in the first. It was the 11th fall [...]
Adidas vows to up its game as profits crash August 8, 2014 GERMAN sportswear giant Adidas yesterday announced a 25 per cent drop in half-year net profit, blaming this on consumer sentiment in Russia and the euro’s strength. Although World Cup-related sales increased two per cent to €3.465bn (£2.75bn) in the second quarter of 2014 , its first half, pre-tax profit dived 25 per cent to €495m [...]
Best of the Brokers for 08 August 2014 August 8, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AMLIN Numis has upgraded insurers Amlin to “buy” from “hold”, forecasting full-year premium results to lead the sector, positioning Amlin to outperform during a difficult period. A new target price of 525p has been issued, up from 445p. DEUTSCHE TELEKOM S&P Capital has [...]
FTSE loses some fizz as Coca-Cola HBC share price sinks 5pc – London Report August 8, 2014 BRITAIN’S top shares yesterday slipped after sobering results from insurance companies and from bottler Coca-Cola HBC. The FTSE 100 ended down 38.79 points, or 0.6 per cent, at 6,597.37 points, its lowest close since 16 April, meaning it had fallen more than three per cent since a peak seen at the end of July. The [...]
New York Report: US stocks slide on geopolitical concerns August 8, 2014 US STOCKS ended lower yesterday, with concerns over a sanctions faceoff between Russia and the west erasing morning gains on upbeat jobs data. The Dow Jones industrial average fell 75.46 points, or 0.46 per cent, to 16,367.88, the S&P 500 lost 10.69 points, or 0.56 per cent, to 1,909.55, and the Nasdaq Composite dropped 20.09 [...]
Cowes Week Diary: Action switches from sea to sky as regatta reaches a conclusion August 8, 2014 AS THE curtain comes down on another Aberdeen Asset Management Cowes Week this weekend, I was lucky enough to join the Women’s Sport and Fitness Foundation on board a racing yacht during the regatta’s Ladies Day yesterday. The weather was glorious. So glorious, in fact, that we didn’t manage to do much racing due to [...]
On this day: USA Dream Team take basketball gold at Barcelona Olympics August 8, 2014 It was 22 years ago that the USA’s Dream Team took Olympic gold in Barcelona, the first time NBA superstars such as Michael Jordan and Earvin “Magic” Johnson had been allowed to compete. The 117-85 scoreline in the final against Croatia was the narrowest margin of their eight wins. Jordan, now 51, is widely regarded [...]
EasyJet and Ryanair soar above turbulence with passenger rise August 6, 2014 Budget airlines easyJet and Ryanair yesterday reported jumps in passenger numbers for July. EasyJet enjoyed a 7.7 per cent growth in passenger number for July compared to the previous year –around 6.5m compared to 5.976. The passenger load factor increased by 1.3 percentage points to 92.2 per cent. The budget airline saw its third quarter [...]
