UK consumer confidence remains in the doldrums May 18, 2011 MORALE amongst high street shoppers remained in a slump last month, a survey revealed yesterday, yet any fears of a double-dip recession appear to have been dispelled. The Nationwide consumer confidence index came in at 42 last month, slightly down from March’s reading and 32 points lower than the same time last year. “Clearly, consumers [...]
WEAK CONSTRUCTION GROWTH IN EUROZONE May 18, 2011 MONTHLY construction figures for the Eurozone show that output fell 0.3 per cent in March this year, compared to a 0.8 per cent decrease in February. Compared with March 2010, output dropped by 4.9 per cent. Among the member states monitored, five showed a rise in construction output and seven reported a drop.
Ifo outlook brightens May 18, 2011 The Ifo business climate survey, a widely observed early indicator for the world economic climate, has shown a slight rise, as a result of more favourable assessments of the current economic situation. Survey results for Western Europe rose as a result of more positive assessments, compared to less favourable assessments of the economic climate in [...]
Strikes hit an 80-year low May 18, 2011 Worried Britons are steering clear of industrial action, and accepting pay packets well behind inflation, with ONS figures yesterday showing that strikes have hit an 80-year low in the year to March. An uncertain jobs market has subdued the number of days lost to disputes to 145,000 – the joint lowest since records for the [...]
US mortgage applications rise May 18, 2011 Applications for US home mortgages jumped last week for the third week in a row as falling mortgage rates fuelled demand for refinancing. The Mortgage Bankers Association said that its seasonally adjusted index of mortgage application activity surged 7.8 per cent at the end of last week, the highest rate since early December.
Spanish economy beats forecasts May 18, 2011 The Spanish economy posted a 0.3 per cent rise in GDP from the previous quarter, just ahead of forecasts by the central bank of 0.2 per cent. Overall the Spanish economy expanded 0.8 per cent in the first-quarter, its fastest annual pace for almost two years.
CITY MOVES | WHO’S SWITCHING JOBS May 18, 2011 Jupiter Asset Management Amanda Sillars (pictured) and David Lewis have joined Jupiter’s Merlin fund-of-funds team as fund selection specialist and assistant fund manager respectively. Sillars was formerly investment director and executive director at JP Morgan Asset Management, where she managed about 500 funds and investment trusts. Lewis has been promoted from Jupiter’s private clients & [...]
BEST OF THE BROKERS May 18, 2011 BAE SYSTEMS Goldman Sachs rates the defence group “sell” with a target price of 290p. The broker has cut its earnings per share forecast by two per cent for the year after an investor day. Goldman warns BAE is unlikely to start a share buyback until it has sorted a pensions dispute, with focus instead [...]
Land Securities and miners lead the FTSE index to gains May 18, 2011 STRONG energy stocks and miners drove Britain’s top shares higher yesterday as investors welcomed results from Land Securities. The FTSE 100 index ended up 62.49 points, or 1.1 per cent, at 5,923.49. Other London indices followed suit, with the FTSE 250 closing up 51.55 points, or 0.4 per cent at 11,887.54 and the FTSE AIM [...]
US stocks rebound on strong earnings May 18, 2011 WALL Street snapped its three-day losing streak yesterday thanks to a rebound in commodity prices and Dell’s strong earnings, but investors say stocks still face headwinds. Yesterday’s bounce gave some respite to selling that has driven the S&P 500 down nearly two per cent this month as soft economic data has put investors on the [...]
