Bubble, toil and trouble as investors pour into bonds September 8, 2010 WITH government bond yields dropping through the floor, analysts fear that over-egged double dip fears have inflated a bond bubble. A quarter of year-to-date inflows into exchange-traded funds (ETF) have gone into bond funds, so ETF investors should keep a sharp eye on the debate. Bubble alarmists highlight the pace with which investment has rushed [...]
LISTED PRODUCT NEWS September 8, 2010 WORLD’S FIRST EURO HIGH YIELD BOND ETF BlackRock’s exchange-traded funds (ETF)?platform iShares has launched the world’s first Euro High Yield Bond ETF. The fund tracks the performance of the Markit iBoxx Euro Liquid Corporates Index. The index uses multiple pricing sources for inclusion and is based on an average of the classifications allocated to each [...]
THE TIPSTER September 8, 2010 BELEAGUERED oil and gas giant BP, which yesterday published a report into the Macondo oil well disaster, received a boost after ratings agency Fitch upgraded it to A status. Will the upgrade offer sufficient impetus for the global energy firm to break its August high of 438p? WorldSpreads offers a spread of 414.4-415.4p. Weakness in [...]
BP and energy peers propel the FTSE while banks drag September 8, 2010 EENERGY stocks led by BP pushed Britain’s top shares higher yesterday, outpacing falls in banks that were weighed down by European recovery concerns. The FTSE 100 closed up 21.92 points, or 0.4 per cent, at 5,429.74, after breaking a seven-session winning streak to close down 0.6 per cent on Tuesday at 5,407.82. Meanwhile the FTSE [...]
Wall Street closes up on light trading September 8, 2010 US stocks rose yesterday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction. Bank stocks recovered from Tuesday’s losses, with JPMorgan up 2.2 per cent and the BKW bank index up 1.7 per cent. A successful Portuguese debt offering as [...]
KPMG looks to hand over Connaught jobs September 8, 2010 HOUSING repair firm Connaught formally appointed KPMG as its administrator yesterday, as rival property companies looked to take over the collapsed firm’s contracts. KPMG will keep the firm’s property maintenance arm trading until it has farmed out its contracts to other providers. Around 4,400 people face redundancy. Richard Heis, joint administrator, said the group had [...]
Goldman mergers expert to join Glaxo as its finance chief September 8, 2010 PHARMACEUTICALS giant GlaxoSmithKline scored a coup yesterday as it hired one of Goldman Sachs’ most successful rainmakers as its new chief financial officer. Simon Dingemans is currently head of Goldman’s European mergers and acquisitions business and has been prolific in advising some of the world’s largest companies in his 25 years in the investment banking [...]
Phoenix rises from ashes to the FTSE 250 September 8, 2010 SERIAL entrepreneur Hugh?Osmond has seen his Phoenix Group life insurance consolidation vehicle promoted to the FTSE 250. Phoenix said its £1.2bn market value would make it one of the larger players in the index. In a quarterly rejig, Home Retail Group, Segro and Cable & Wireless Worldwide will drop out of Britain’s FTSE 100 later [...]
Factories see healthy rate of growth September 8, 2010 BRITISH manufacturing production expanded at a robust pace in July, recording the strongest annual growth rate since the end of 1994, official data showed yesterday. Manufacturing production was up 4.9 per cent on the year, while the monthly rate held steady at 0.3 per cent. The wider industrial production measure also grew 0.3 per cent [...]
Take home pay still dwarfed by inflation September 8, 2010 Growth in take home pay rose 1.3 per cent in the three months to August compared to just 0.8 per cent in the quarter ending in July, the VocaLink Take Home Pay index will show today. However, with CPI standing at 3.1 per cent in July, pay growth is still dwarfed by inflation. Over the [...]
