Cranswick in profit alert after pork price increase July 26, 2011 CRANSWICK, the sliced meat and sausage maker, has been forced to warn it will miss profit forecasts this year after a rise in pork prices. During the first half of the year pig prices have increased from £1.33 per kg to £1.53 per kg, an increase of 15 per cent. Analysts have knocked between £6m [...]
CITY MOVES | WHO’S SWITCHING JOBS July 26, 2011 Cushman & Wakefield The world’s largest privately-held commercial real estate services firm has appointed Sophie Hodges as consulting manager in its Europe, Middle East and Asia business consulting team. Hodges rejoins from Ernst & Young, having previously worked at Cushman & Wakefield as a client solutions consultant from 2007 to 2009. In her new role [...]
BEST OF THE BROKERS July 26, 2011 PENNON JP Morgan Cazenove upgrades the water, sewerage and waste disposal group as “overweight” and lifts its target price by 24 per cent to 770p. The broker says the company’s waste division, Viridor, is set to increase earnings before tax by 67 per cent to March 2015, driven by six new energy-from-waste projects. At group [...]
Strong results nudge FTSE up in spite of US debt stalemate July 26, 2011 BRITAIN’S top shares managed modest gains yesterday as solid results from blue-chips including drugmaking group GlaxoSmithKline and energy firm BG Group more than offset an earnings miss from heavyweight BP. Volume on the FTSE 100 was thin, however, as investors waited for clarity from US debt ceiling talks. The UK benchmark index ended up 4.47 [...]
Political fears drag down Wall Street July 26, 2011 The stalemate in US debt talks dragged down stocks for a second day yesterday, and light volume showed investors remained reluctant to make bets despite another round of healthy earnings. Declining issues solidly outpaced advancing ones, even though major averages showed mostly modest declines. A failure to raise the US debt limit by an 2 [...]
Political squabbles bring damage to US dollar strength July 26, 2011 IN the US, the bickering over the raising of the debt ceiling is becoming ever more nasty. Democrats and Republicans are in a deadlock over increasing the $14.3 trillion cap on government borrowing. The dispute has got into a predictable rut: Republicans accuse Barack Obama of profligacy, Obama accuses the GOP of pettiness and then [...]
THE AUSSIE IS NEW SAFETY TRADE TREND July 26, 2011 THE newest trend is the emergence of the commodity dollars as a safe haven trade. With US debt ceiling issues still unresolved as the clock ticks away on the 2 August deadline, the dollar continues to weaken against the standard risk aversion currencies such as the Swissie and the yen. As a matter of fact, [...]
THE TIPSTER July 26, 2011 ON WEDNESDAY, New Zealand’s central bank is expected to clarify its stance and could mention New Zealand dollar strength as a factor under consideration. Talk of intervention remains premature, but is definitely a possibility. Global growth concerns and a dovish central bank should cap extensive gains for the time being, but even a small factor [...]
FOREX ANALYST PICKS July 26, 2011 FOREX STRATEGIST JOHN KICKLIGHTER My pick: Short Aussie-dollar; short euro-dollar; long Aussie-Kiwi Expertise: Fundamental analysis with risk management Average time frame of trades: 1 day to 1 week We are in a week where chop, volatility and fundamental uncertainty will dominate. Given the combined influence of the US deficit impasse and EU sovereign troubles, it [...]
With one year to go, businesses are galloping to get behind London 2012 July 26, 2011 IT’S got to be one of the most breath-taking sights of this summer. You know, the pictures of athletic horses jumping fences at Greenwich Park against a backdrop of the skyscraper-dominated Canary Wharf. It’s a stunning juxtaposition that also captures a critical aspect of the London Games. To see the capital’s thriving financial district providing [...]
