Misys’ banking ventures pay off as revenues rise April 6, 2011 BRITISH software company Misys posted a seven per cent rise in third-quarter revenue, helped by new products serving banks and financial markets. Misys, which sold most of its stake in its Allscripts-Misys joint venture last year, said yesterday revenue in the three months to February was £85m, taking revenue growth into positive territory in its [...]
Robert Walters’ profits up as it reopens in Japan April 6, 2011 RECRUITMENT firm Robert Walters yesterday said its first-quarter net fees rose 23 per cent, helped by a strong performance in Europe and Asia Pacific, and the company said its Japanese business was now operational. However, the company said it may be some time before the market fully recovers in earthquake-hit Japan. Robert Walters, which specialises [...]
Shock drop in UK’s industry knocks pound April 6, 2011 STERLING was hit yesterday by a report showing a shock fall in British industrial production. Industrial production fell by 1.2 per cent in February compared to January – the largest fall since August 2009, the Office for National Statistics (ONS) said. The pound plummeted by over half a cent against the dollar in morning trading, [...]
House prices continue to drop in the first-quarter April 6, 2011 THE cost of housing fell by 0.6 per cent during the first-quarter of 2011, marking the property market’s fourth consecutive quarterly decrease in prices, it was yesterday revealed. Research by the Halifax House Price Index showed an average reduction of 2.9 per cent for the first three months of 2011 in comparison to the same [...]
CITY A.M. | SHADOW MPC EDGES CLOSER TO A RISE IN INTEREST RATES April 6, 2011 ALLISTER HEATH | CITY A.M. “With consumer price index inflation of 4.4 per cent and heading upwards, it’s time to end over two years of ‘emergency’ levels of interest rates. The Bank rate should be edged up by 0.25 per cent this month.” SIMON WARD | HENDERSON “Half-point rise. The economy has rebounded solidly in [...]
Sluggish growth weighs on the UK April 6, 2011 The UK has averaged just 0.1 per cent growth per quarter in the last six months, the National Institute of Economic and Social Research (NIESR) said yesterday. The Westminster thinktank has estimated first-quarter growth of 0.7 per cent for the first three months of the year, reversing the reported 0.5 per cent contraction in the [...]
Swiss consumer inflation doubles April 6, 2011 Swiss inflation rose more than expected in March as the strong Swiss franc failed to fully insulate the country from rising oil prices, it was revealed yesterday. Swiss consumer prices rose 0.6 per cent compared with February, doubling the annual inflation rate in March to one per cent from 0.5 per cent in February.
Surge in German factory orders April 6, 2011 German industrial orders soared in February, driven by big-ticket purchases backed by strong domestic demand. Orders were up 2.4 per cent, compared to January, with investment goods leading the charge – well above the forecasts of economists. “The industry-led recovery is alive and kicking,” said ING’s Carsten Brzeski “The strong increase was driven by both [...]
CITY MOVES | WHO’S SWITCHING JOBS April 6, 2011 SWIP William Low has been appointed as head of global equities at Scottish Widows Investment Partnership’s (SWIP) International Equities team. Low, who joins from a 15-year tenure as director and portfolio manager at Blackrock, will be based in SWIP’s Edinburgh office and will be responsible for driving the firm’s global equity strategy across a range [...]
BEST OF THE BROKERS April 6, 2011 BURBERRY Nomura rates the luxury retailer “neutral” with a target price of £12. The broker expects the firm’s half-year trading update on 19 April to show a 14 per cent rise in like-for-like retail sales, which will make up 70 per cent of overall sales. While Nomura expects another vintage year from Burberry, it has [...]
