Producer prices up in euro area June 6, 2011 Industrial producer prices spiked by 0.9 per cent in the Eurozone in April, compared to March, Eurostat figures revealed yesterday. Prices were up 6.7 per cent annualised, slightly slower than March’s revised annual rate of 6.8 per cent. Across the wider EU area, producer prices were up 7.8 per cent compared to April 2010.
Spain’s industrial output drops June 6, 2011 Spanish industrial output fell by 0.3 per cent in April, according to data published yesterday, after a 1.1 per cent monthly fall in March. The annual rate for April showed a 1.6 per cent decline, compared to a 0.4 per cent drop the previous month.
Trade rising across OECD states June 6, 2011 Imports to G7 and BRICS countries were up by 11 per cent in the first three months of the year, compared to an 8.2 per cent rise in the final quarter of 2010, the Organisation for Economic Co-operation and Development announced yesterday. Total exports grew by 8.5 per cent, up from 8.2 per cent growth.
High oil price cuts airline profit in half June 6, 2011 GLOBAL airlines have cut their 2011 profit forecast by more than half to $4bn (£2.4bn) as high oil prices and turmoil in Japan, North Africa and the Middle East weigh on the industry’s recovery. The International Air Transport Association (IATA), which represents most global carriers, disclosed the new forecast yesterday, and also warned of a [...]
HMV leads the top shorted FTSE stocks as investors remain bearish June 6, 2011 STRUGGLING retailer HMV has failed to convince short sellers of its recovery story, despite a string of positive developments for the embattled music store chain. The company is the most shorted stock in the FTSE All Share index, with almost 20 per cent of its shares out on loan, according to DataExplorers. HMV sold the [...]
April ISA sales hit record high June 6, 2011 FUND platforms have reported their highest gross ISA sales on record, according to the Investment Management Association (IMA). Gross ISA sales hit £1.3bn in April for platforms, ran by financial services firms such as Hargreaves Lansdown and Standard Life. The tax-efficient products accounted for 39.1 per cent of all sales made through the platforms, the [...]
Home insurance costs to rocket June 6, 2011 UK insurers are expected to hike home, motor and catastrophe premium rates this year as they struggle to improve earnings and capital returns, rating agency Fitch said yesterday. Firms need to boost earnings as years of falling rates and ultra-low interest rates have eaten into profitability, made worse by a string of natural disasters around [...]
Ipsos presses ahead with Synovate offer June 6, 2011 IPSOS has decided to go ahead with its offer for Synovate, the market research arm of Aegis, in a deal that could fetch the communications agency £500m. Top executives, including co-president Didier Truchot, decided at a crunch meting in Paris yesterday to proceed with a bid for the firm. Aegis yesterday confirmed to the market [...]
Dotcom tycoon to float Jellybook June 6, 2011 JONATHAN Rowland, son of property tycoon David Rowland, has announced plans to list his Jellybook investment company on the AIM market. With a rapidly inflating tech bubble seemingly upon us, and investors scrambling to get their hands on technology stocks, the timing of the float seems like a no brainer, given Jellybook’s focus on acquiring [...]
ANALYST VIEWS: WHAT WOULD A SALE OF SYNOVATE MEAN FOR AEGIS? June 6, 2011 STEVE LIECHTI | INVESTEC We see Synovate as a decent add-on to existing players rather than a strategically exciting asset, therefore while an auction might develop, we would not encourage this view. Bigger questions are what Aegis does with any possible proceeds or whether this stimulates interest in the whole group by third parties, bearing [...]
