Interview: Inmarsat boss Andrew Sukawaty March 7, 2011 Andrew Sukawaty is having a busy day. He awoke to discover his satellite telecoms firm Inmarsat had tanked 13 per cent, leading the FTSE 100 fallers by a country mile. But if the charismatic American – both chief executive and chairman – is flustered, he isn’t showing it. “The share price is for the market [...]
CITY MOVES | WHO’S SWITCHING JOBS March 7, 2011 Nomura Holdings The Asian investment bank has made a number of changes to its management team. David Benson, Nomura’s former chief risk officer, will become vice chairman of Nomura Holdings. Wholesale president and COO Jesse Bhattal (pictured) will become deputy president of Nomura Holdings and CEO of the Wholesale division, and Yasuo Kashiwagi, currently senior [...]
BEST OF THE BROKERS March 7, 2011 CAPITAL SHOPPING CENTRES Societe Generale rates the landlord “hold” and has raised its 12-month target price by five per cent to 420p. The broker expects the firm’s recent purchase of the Trafford Centre to give a four per cent lift to cash flow and dilute net asset value by around one per cent. It also [...]
Oil costs drag the FTSE down with miners and banks sinking March 7, 2011 MINERS dragged Britain’s top share index lower yesterday, as escalating violence in the Middle East and surging oil prices crimped investor appetite for risk. The FTSE 100 index closed down 16.61 points, or 0.3 per cent, at 5,973.78, nearly 70 points below the session high as the index traded at 80 per cent of its [...]
Tech stock sell-off weighs on Wall St March 7, 2011 TECHNOLOGY stocks sold off yesterday, with the Nasdaq teetering on a key technical support level as uncertainty over higher oil prices looks set to drive volatility in the days ahead. The Nasdaq composite index dropped 1.4 per cent and closed just above its 50-day moving average, a widely followed technical level that if breached could [...]
Risking the City: the economist who sees no future in political meddling March 7, 2011 LONDON will be… an excellent market for rottweilers, wire mesh and tattooed thugs. Docklands in particular will revert to its 1970s squalor, albeit with some very expensive buildings scattered around… [G]iven the crippling burdens under which British citizens already live, London’s downturn has a fair chance of tipping the economy over into national bankruptcy.” This [...]
Insurance companies all under one umbrella March 7, 2011 THOSE hoping for huge short term gains to be had from shorting companies with significant underwriting and re-insurance exposure to either the Middle East and north Africa (MENA), or to Christchurch may be disappointed. Listed companies are understandably cagey about just how much exposure they have to those areas, and syndicates with underwritten liability are [...]
FED CARRIES ON WITH QE REGARDLESS March 7, 2011 CFD MARKET STRATEGIST, GFT EQUITY markets are attempting to shrug aside the civil unrest taking hold across north Africa and the Middle East. Yet the attendant rally in crude oil has taken both Brent and WTI contracts well above $100 per barrel, and this is not looking like a temporary phenomenon. Despite this, stocks rebounded [...]
Hedging your portfolio with CFDs March 7, 2011 IF YOU don’t already, perhaps you should consider hedging your portfolio with contracts for difference (CFD). Provided you have enough time to actively manage your positions and are familiar with their workings, CFDs are worthy of some serious consideration. For many investors, the idea of using leverage to hedge is enough to put them off [...]
THE TIPSTER CASHING IN ON UNREST March 7, 2011 THE satellite telecoms operator Inmarsat has suffered on the back of poor fourth quarter earnings, but increasing concern over the potential for unrest to spread further still through the Middle East and north Africa stands to keep the company’s services very much in demand. The downturn could therefore prove to be somewhat short-lived and profit [...]
