Best of the Brokers for 03 July 2014 July 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com OCADO GROUP Deutsche Bank has upped Ocado to “hold” after six months on a “sell” rating, reducing the target price to 330p from 350p. The broker thinks while there has been a slowdown in sales growth, expectations are more realistic, and there is [...]
London Report: FTSE ends on a high on strong economic data July 2, 2014 Britain’s top share index hit a one-week high yesterday, with upbeat economic data from the US and China improving investor sentiment and boosting cyclical sectors such as banks and miners and carmakers. The FTSE 100 index closed 0.2 per cent firmer at 6,816.37 points, after climbing to a high of 6,829.49, the highest level since [...]
New York Report: Dow creeping towards special 17,000 mark July 2, 2014 US stocks yesterday ended one of their flattest sessions in years as a positive read on private sector employment wasn’t enough to interest buyers ahead of the highly anticipated June payrolls report. The Dow ended 0.2 per cent below the landmark 17,000 points, at 16,976.24, the S&P 500 gained 0.07 per cent, to 1,974.62 and [...]
So near yet so far for heroic USA July 1, 2014 Desolate USA fans in Washington, DC yesterday watched their football team’s heroic exit from the World Cup. With the match 0-0 after 90 minutes, it took goals by Kevin De Bruyne and Romelu Lukaku in extra time put the Belgians 2-0 up, before Spurs target Julian Green pulled one back with a volley. Fans around [...]
What the other papers say this morning – 02 July 2014 July 1, 2014 FINANCIAL TIMES Facebook faces experiment probe A UK data regulator is investigating whether Facebook broke data protection laws when it allowed researchers to conduct a psychological experiment on users of the social network. The Information Commissioner’s Office said it was probing the experiment and planned to ask Facebook questions after widespread outrage when it was [...]
JP Morgan’s Jamie Dimon has throat cancer July 1, 2014 Chief executive of JP Morgan Jamie Dimon has curable throat cancer, according to reports in the US late last night. “The cancer was caught quickly, and my condition is curable,” Dimon told investors and staff in a note, explaining that he will now face eight weeks of radiation and chemotherapy treatment to tackle the disease. [...]
Insurers at risk from annuity rule July 1, 2014 Britain’s biggest life insurers are at risk of failure after the new annuity rules cut down a key source of revenue for the firms, the Bank of England’s Andrew Bulley said yesterday. “Significant potential issues include whether the viability of existing business models will be affected by the changes,” he said. Retirees no longer have [...]
ING increases share offer July 1, 2014 Dutch financial services company ING Group yesterday announced that it had increased by 10 per cent to 77m the number of ordinary shares it would list in its insurance arm, NN Group, due to “significant” investor demand. The shares are due to begin trading in Amsterdam today, in one of the largest floats in Europe [...]
Sarkozy held by French police July 1, 2014 Nicolas Sarkozy yesterday became the first former French President to be held in police custody, when he turned himself in for questioning in a corruption probe that could scupper his plans of making a political return. Police are trying to establish whether he promised a plum job in Monaco to a judge in return for [...]
Accountancy firm EY appoints 675 new partners July 1, 2014 Accountancy giant EY yesterday announced 675 people had been promoted to partner this year – an increase of 33 per cent on last year – highlighting improved economic growth and corporate activity. EY said it had appointed 237 new partners in its Europe, Middle East, India and Asia region. This is a rise of 46 per [...]
