GDF Suez expects bumper profit March 3, 2011 GDF Suez raised its earnings forecast for the year yesterday in light of its recent merger of international business with International Power, after reporting a forecast-beating €4.62bn (£3.96bn) net income. Its revenues rose 5.7 per cent to €84.5bn on higher energy tariffs in its native France. GDF said it plans to focus on emerging markets [...]
CITY MOVES | WHO’S SWITCHING JOBS March 3, 2011 BANK OF AMERICA MERRILL LYNCH Matthew Koder will join Bank of America Merrill Lynch as head of global corporate and investment banking for Asia Pacific in the summer. Koder will report to Brian Brille, president of Asia Pacific, and will be a member of the Global Corporate and Investment Banking Operating Committee. Koder has 20 [...]
BEST OF THE BROKERS March 3, 2011 ITV UBS rates the media company “buy” with a 12-month target price of 115p. The broker says that the firm’s strong results on Wednesday benefited from cost-cutting and a strong advertising environment, and forecasts five per cent growth in the second half of 2011. UBS adds that while the firm is focused on organic investment, [...]
FTSE bounces on commodity rebound as oil price weakens March 3, 2011 A REBOUND by commodity stocks fuelled strong gains by the UK’s top share index yesterday, as oil prices fell back on hopes for a peace deal in Libya, easing concerns over global demand. The FTSE 100 was up 90.20 points or 1.5 per cent at 6,005.09 at the close, ending above the 6,000 level for [...]
Optimism on jobs fuels Wall St rally March 3, 2011 INVESTORS betting on a big gain in US payrolls pushed Wall Street to its best one-day rally in three months yesterday, but weak volume remained a concern. As oil paused from its recent climb, the market’s focus shifted to stronger-than-expected economic data a day before the February US employment report. The median estimate is for [...]
SNOW’S THE STAIR MASTER IN THE RACE OF THE THOUSAND STEPS March 3, 2011 HERE’S a story with legs: the results of the third annual Vertical Rush race up the 920 dizzying steps of City skyscraper Tower 42 in aid of housing charity Shelter. Setting off in hourly slots, 1,200 chip-timed runners – including racers from Legal & General, Schroders, Threadneedle, Tullett Prebon and KPMG – vied to see [...]
GUILDFORD, SURREY March 3, 2011 EPSOM ROAD Price: £179,950 Situated on the top floor of a smart period property, this one bedroom flat enjoys a multitude of characterful features including gothic-style windows and a working fireplace. There is a large communal area outside, perfect for bbq-ing in the summer, and all the amenities of the town centre are a short [...]
NEED TO KNOW | AREA INSIGHT March 3, 2011 COMMUTING: Trains to Waterloo take a reasonable thirty-five minutes. EDUCATION: The Royal Grammar for boys, Guildford High School and Tormead for girls are all well-known. George Abbot is the preferred state secondary, judged outstanding by Ofsted. Buy in the north-eastern corner of town to ensure you are in its catchment area. CRIME: Rates are reassuringly [...]
SELLING March 3, 2011 MANAGING DIRECTOR OF CENTRAL LONDON ESTATE AGENCY, KAY & CO Q.I am looking to upsize but want to make sure I’ve found something else to buy before I put my property on the market. What do you advise? A.At present the prime central London market lacks fluidity and it is very difficult to tie in [...]
PROPERTY NEWS March 3, 2011 HOUSE PRICE OPTIMISM RISES Nearly 50 per cent of people are “certain” house prices will rise over the next ten years and 26 per cent are “certain” they will go up in the next five years, according to a survey by LSE and estate agents John D. Wood. Home occupiers were more confident than renters, [...]
