New oil and gas regulator gets £15m boost July 16, 2014 The government yesterday committed £15m over the next five years to kick-start the creation of a new oil and gas regulator. This was the recommendation of by Sir Ian Wood in his report on how to maximise the North Sea’s resources. The watchdog will be fully funded by industry in the long term.
Best of the Brokers for 17 July 2014 July 16, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com UNILEVER Oriel Securities has upgraded the consumer goods group to “reduce” from “sell”, raising the target price to 2,600p from 2,190p. The broker thinks while Unilever is strong, earnings per share will be flat. It also sees a lack of consolidation pressure, and [...]
London Report: Takeover talk and good Chinese data send FTSE soaring July 16, 2014 THE FTSE 100 yesterday had its biggest one-day jump since March on the back of a burst of takeover activity and positive data from China. Blue chip shares climbed 74.22 points – 1.11 per cent – to 6,784.67, the best daily performance since 25 March. A report that US group United Technologies could be planning a [...]
New York Report: Dow jumps to 15th record July 16, 2014 US Stocks rose yesterday, with the Dow Jones at its 15th record of the year, as deal talk lifted broader markets. The Dow Jones Industrial Average added 77.52 points, or 0.5 per cent, to 17,138.20, the S&P 500 closed 8.29 points, or 0.4 per cent, higher at 1,981.57, while Nasdaq Composite gained 9.58 points, or [...]
Pitch set to serve up more of the same but back Robson to tuck in July 16, 2014 ROBIN HUTCHISON PICKS OUT THE BEST BETS FOR THE SECOND TEST WITH any luck James Anderson’s spat with Ravi Jadeja will add a little spice to the second Test at Lord’s between England and India, following an opening encounter which resembled the blandest of chicken kormas. The main ingredient at Trent Bridge was a moribund [...]
Spread betting on cricket July 16, 2014 ENGLAND’S five-Test series against India is finely poised after a draw in the opener at Trent Bridge last week. Ahead of the second Test at Lord’s, Sporting Index have priced up a huge range of cricket markets. Cricket and spread betting have always been a match made in heaven and it really is the most [...]
The best of times, the wurst of times July 16, 2014 More than 20 German sausage makers and 31 individuals have been fined a total of €338m (£267m) for years of price-fixing, the competition regulator said yesterday. Sausages are a national staple with the German average annual consumption at 30kg per person. The federal cartel office chief Andreas Mundt said: “Prices were fixed over many years.”
Best of the Brokers for 16 July 2014 July 16, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com HUNTING Goldman Sachs has downgraded to “neutral” from “buy”, reducing the target price to 900p from 965p. The broker thinks that Hunting is well positioned to benefit from strong activity in US onshore, but said the appreciation of sterling against the dollar could [...]
London Report: Yellen warning and rise in UK inflation cause FTSE to slip July 16, 2014 BRITAIN’S top shares lost ground yesterday after US Federal Reserve chair Janet Yellen voiced concern over valuations. And housebuilders were hit by growing expectations UK interest rates would soon rise, while Imperial Tobacco fell sharply. The FTSE 100 index was down by 0.53 per cent – 35.69 points – at 6,710.45 points. Imperial Tobacco sank [...]
New York Report: Dow up but Nasdaq falters July 16, 2014 US STOCKS closed broadly lower yesterday after the Federal Reserve, in an unusual statement, singled out the valuation of social media and biotech shares as “substantially stretched”. The Dow Jones Industrial Average rose 5.62 points, or 0.03 per cent, to 17,060.68, the S&P 500 lost 3.82 points, or 0.19 per cent, to 1,973.28, while the [...]
