Port of London Authority sees goods trading increase in 2010 August 3, 2010 THE volume of goods passing through the Port of London recovered in the first six months of this year after a downturn in 2009, it was announced yesterday. The port handled 23.3m tonnes of goods in January to June this year – a 1.3 per cent rise on the figure for the first half of [...]
BEST OF THE BROKERS August 3, 2010 RENAULT Bank of America Merrill Lynch (BoAML) has confirmed its “buy” rating on French car manufacturer Renualt and raised its price target by €4 to €50. BoAML cites a solid performance in core business, and results ahead of consensus by affiliates Nissan and Volvo, and forecasts full-year net industrial debt will drop to €5.1bn. BNP [...]
Capital & Counties progresses August 3, 2010 Property developer Capital & Counties yesterday said it is making progress on getting planning consent to redevelop London concert and exhibition venues Earls Court and Olympia. The company hopes to begin work on a residential project after Earls Court is used to host events related to the 2012 Olympic Games.
Devro sees 86pc profit boost August 3, 2010 Scottish sausage skin maker Devro yesterday announced an 86 per cent rise in first-half profit, from £9.2m in 2009 to £17.1m this time around. The company, headed by chief executive Peter Page, also announced an increase in its interim dividend to shareholders of 40 per cent to 2.0p per share, up from 1.425p per share [...]
SDL bullish for rest of 2010 August 3, 2010 Translation software firm SDL yesterday posted a 13 per cent increase in first-half revenue and a nine per cent rise in profit. SDL said the growth came thanks to a recovery in demand from its major multinational customers. In a statement to the London Stock Exchange, the company said it is confident about the rest [...]
GOODHART: IF I WERE ON TODAY’S MPC, I’D WANT TO BE PUT TO SLEEP August 3, 2010 ATTENDEES at the London School of Economics’ (LSE) monetary policy conference yesterday morning were treated to an A-list talking heads line-up, with former members of the Monetary Policy Committee (MPC) Sir John Gieve and Charles Goodhart joining Fitch Ratings’ Brian Coulton to discuss interest rates. Unfortunately, the audience was not about to flatter its illustrious [...]
FTSE closes flat as Monday’s zeal for banks wanes and energy firms recover August 3, 2010 BRITAIN’S top shares ended steady yesterday as strength in oils offset falls in banks following weaker-than-expected US data that stoked concern about the strength of the economic rebound. The FTSE 100 closed down 0.63 point at 5,396.48 following a 2.7 per cent gain on Monday to a three-month closing high. “Weak US data in the [...]
Procter & Gamble drags on Wall Street in flat day August 3, 2010 US stocks slipped yesterday as Dow component Procter & Gamble’s lacklustre results, coupled with weaker-than-estimated data on consumer spending and housing, prompted investors to exercise caution a day after the market’s two per cent rally. P&G dropped 3.4 per cent to $59.94, ranking as the top drag on the Dow industrials after the consumer goods [...]
Aussie’s hot August run August 3, 2010 IT WAS no change yesterday for the Reserve Bank of Australia, which agreed to keep the cost of borrowing on hold at 4.5 per cent for the third consecutive month. This signalled continued stabilisation in the Australian economy, which is good news for its first female prime minister Julia Gillard. The decision to hold rates [...]
TREAT RALLY IN THE POUND WITH CARE August 3, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT TO THE surprise of many market analysts, including yours truly, sterling has been on a tear lately. Not only has the pound rallied, but it has significantly outperformed the euro, gaining more than 200 pips on the continental currency over the past several weeks. So why such sudden explosive strength [...]
