Luxury rifle maker loses its aim January 7, 2013 William & Son, the Mayfair jeweller and gunsmith founded by William Asprey of the eponymous jewellery dynasty, sunk into the red in the year to March 2012. The luxury goods firm made a £421,563 loss before tax compared with a £23.6m profit in 2011, filings on Companies House show. A spokesperson said the loss “was [...]
CBRE in £20m central London buy January 7, 2013 CBRE Global Investors yesterday announced it has bought two central London properties for £20m, likely to benefit from improvements in the completion of the Crossrail link by 2018. The deal includes the £10.5m acquisition of 110-113 Tottenham Court Road, a 16,000 square feet office building let to Halifax and Adecco. The second £9.5m acquisition is [...]
City Moves for 8 January 2013 | Who’s switching jobs January 7, 2013 UBS Global Asset Management Roz Amos has been appointed head of European consultant relations at UBS’s asset management business. She joins after 15 years at Towers Watson, where she was most recently senior investment consultant with responsibility for overseeing its indexation research and new ideas research teams. Vanguard Asset Management Axel Lomholt has been appointed [...]
Best of the Brokers January 7, 2013 ITV Liberum Capital yesterday upgraded its fair value for the media company with 10p to 155p and reiterated its “buy” recommendation. According to the analyst, increasing efficiencies in the company and revenues in non-TV advertising will spill over to the budget sheets, and ITV is likely to “outperform” in 2013. BIG YELLOW GROUP UBS initiated [...]
FTSE retreats for first time this year after highest close since early 2011 January 7, 2013 BRITAIN’S blue chip index fell yesterday for the first time this year, baulking at technical resistance levels having reached its highest close for nearly two years in the previous session. The FTSE 100 shed 0.4 per cent in broad-based losses, with every sector falling apart from financials, which received a regulatory boost over the weekend. [...]
US stocks drop on anticipated poor earnings January 7, 2013 US stocks lost ground yesterday, as investors drew back from recent gains that lifted the S&P 500 to a five-year high, in anticipation of sluggish growth in corporate profits. Shares of financial companies dipped after a group of major US banks agreed to pay a total of $8.5bn (£5.3bn) to end a government inquiry into [...]
FTSE mettle is tested by slump in commodities January 7, 2013 AS THE markets settled into the first full week of trading of the year, the FTSE had its 2013 bull run checked, dropping 17 points yesterday. The commodity and miner-heavy benchmark index had been pushed to multi-year highs by the effects of a global risk-off sentiment, with the FTSE breaking the psychologically significant 6,000 level [...]
A Brixit is now a real possibility January 7, 2013 Chief Market Strategist, Cantor Index IN 2001, Tony Blair sought a second mandate from the electorate before 9/11, which would eventually lead to war in Iraq. Blair’s re-election seemed more or less a foregone conclusion. He was still fresh-faced, energetic and was brilliant at selling his aspirations for social reform, which sadly never really transpired. [...]
Monetary stimulus unlikely for now January 7, 2013 ROLL up roll up, it’s 2013 and the Bank of England is due to meet for the first time this year, with an announcement due on Thursday. It does so with the FTSE 100 back over 6,000 for the first time since July 2011, and 10 year gilt yields back above 2 per cent for [...]
Analyst picks for 8 January 2013 January 7, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short euro-Aussie and euro-dollar (pending) Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days At the end of December, I sold euro-Aussie at Au$1.2720 on the rationale that a resolution to the US fiscal cliff would push traders from lower yielding [...]
