FTSE lifted by strong corporate results March 1, 2012 The FTSE 100 edged up this morning led by the financial and energy sectors, while heavyweights WPP and Man Group reporting strong results. London’s blue chip index gained despite losses in the US and Asia triggered by the Fed failing to signal and more stimulus measures and mixed economic data out of China. Factory figures [...]
Three arrested in insider dealing probe March 1, 2012 Three people have been arrested and are being held in custody in Britain in relation to an insider-dealing investigation, the Financial Services Authority (FSA) regulator has said. “The Financial Services Authority, with the assistance of Cheshire and Lancashire Constabularies, has this morning executed three search warrants at premises in Northwich and Rossendale,” the FSA said [...]
Man Group lifted by more buoyant 2012 March 1, 2012 Man Group, the world’s biggest listed hedge fund firm, cheered investors with news of lower fund outflows in a more buoyant 2012 for financial markets and said clients could begin to return after recent heavy withdrawals. The firm, whose shares have halved over the past year on concerns over outflows and the performance of its [...]
UK manufacturing sector growth slows March 1, 2012 Britain’s manufacturing sector grew in February, albeit at a slower pace than in the previous month, raising chances the sector will be a driver of growth for the overall economy in the first quarter. The Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) ticked down to 51.2 from a slightly downwardly revised 52.0 in January, which was [...]
China factory growth picks up March 1, 2012 China’s factories grew more than expected in February as new export orders for big firms bounced back, a government survey showed, while a private-sector report portrayed a different picture of smaller companies lagging behind the rebound. China’s official purchasing managers’ index (PMI) rose to 51.0, above expectations of 50.7 and higher than 50.5 in January, [...]
House prices rise more than expected March 1, 2012 House prices rose more than expected in February, data from mortgage lender Nationwide showed. Nationwide said that house prices ticked up by a seasonally adjusted 0.6 percent on the month – the biggest rise since April 2010 – and were 0.9 percent higher than a year earlier. That is follows a surprise monthly fall in [...]
Stagecoach buoyed by British rail performance March 1, 2012 Transport group Stagecoach said recent trade had been good, driven by strong growth at its rail businesses, and that it was hopeful of winning more rail franchises in Britain. “Overall current trading remains good and we believe the prospects for the group remain positive,” the company said in a statement on Thursday. “The overall profitability [...]
WPP profits rise as it awaits Olympics boost March 1, 2012 WPP, the world’s largest ad group, posted a better-than-expected 19 rise in 2011 profit, and reaffirmed its targets for 2012, when it will benefit from the Olympics, European Soccer Championships and the US presidential election. The company, whose portfolio includes Young & Rubicam, Ogilvy & Mather, and Group M, posted headline pretax profit of £1.229bn [...]
US fourth quarter GDP revised up February 29, 2012 The U.S. economy grew a bit faster than initially thought in the fourth quarter on slightly firmer consumer and business spending, calming fears of a sharp slowdown in growth in early 2012. Gross domestic product expanded at a three per cent annual rate, the quickest pace since the second quarter of 2010, the Commerce Department [...]
Lloyds gets £11.4bn from ECB February 29, 2012 Lloyds said it had drawn down £11.4bn from the European Central Bank’s second offering of cheap three-year funds. “Lloyds Banking Group can confirm it has drawn £11.4bn under the LTRO for an initial term of three years. The aim is to part fund a pool of non-core euro denominated assets,” Lloyds said in a statement. [...]
