Jonathan Ross transfer boosts ITV’s appeal July 13, 2010 BRANDINDEX aITV’s World Cup campaign did not start well. Customers viewing England’s opening game against the United States in high-definition (that ITV had marketed to them) found that their picture cut to a car advertisement moments before Steven Gerrard put England ahead. ITV’s BrandIndex Buzz score dropped from +8 the day before the match (11 [...]
Essar Energy buys Indian power project July 13, 2010 ESSAR ENERGY, part of the conglomerate Essar Group, has signed a deal to buy Indian power project, Navabharat Power. Under the deal, the Indian owned company will initially acquire 76 per cent of Navabharat’s equity. The remaining 24 per cent will be purchased after a number of project milestones are completed, said Essar Energy. Navabharat [...]
BEST OF THE BROKERS July 13, 2010 CABLE & WIRELESS Morgan Stanley initiates coverage of Cable & Wireless (CWC) at “equal-weight” with a 72p price target. Morgan Stanley said that although it acknowledges that CWC has improved operating performance it sees better upside elsewhere in the sector. Beyond the dividend yield valuation does not look compelling, believes Morgan Stanley. L’OREAL UBS reiterates [...]
CITY MOVES | WHO’S SWITCHING JOBS July 13, 2010 Barclays Corporate Barclays’ corporate banking arm has appointed Colin Nutt as a vice chairman with responsibility for its financial institutions business. Nutt, who was previously head of financial institutions at the bank, will be tasked with growing the business within the group, including exploring new opportunities among the Barclays Capital client base as part of [...]
Euro is not out of the woods yet July 13, 2010 THE worst is over for Europe. That’s according to Nobel prize-winning economist Robert Mundell. The Columbia University professor, who was speaking to Bloomberg, said he was happy with the euro in the mid $1.20-$1.30 range against the US dollar. He said that the $1.18 area, which was the low reached at the end of May, [...]
Land of the sinking yen July 13, 2010 COMPLETE political gridlock, severe indebtedness and weak economic growth would normally point to a ratings downgrade, deterioration in the currency and a lack of economic reform. But not if you happen to be Japan. Although all three of the big ratings agencies gave the country another warning shot, none hinted at an imminent downgrade. Despite [...]
THE TIPSTER July 13, 2010 Ratings agency Standard & Poor’s fired another warning shot across the bows of sterling with a suggestion that the UK’s prized AAA status is still under threat. The emergency Budget doesn’t seem to be making much of an impression and although the October spending review could yet prove the saving grace, there’s clearly concern that [...]
FX RECOVERY TRADE STILL UNCERTAIN July 13, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT THE central question facing the currency market is whether the economy will maintain its pace of recovery. Last week the recovery trade received a substantial boost when both Australia and Canada reported better than expected employment numbers. Australia added 45,900 jobs and the country’s jobless rate fell to an enviable [...]
FOREX ANALYST PICKS July 13, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Buy euro-Swiss franc at SFr1.3415 Expertise: Classic technical analysis Average time frame of trades: 1 week-6 months The cross has been under intense pressure for several months, breaking to fresh record lows of SFr1.3070 ahead of the latest bounce. While the trend remains bearish, we have adopted a constructive [...]
High potential is still at the heart of Africa July 13, 2010 WITH so much uncertainty about the world economy, it is a good time to diversify your portfolio by investing in Africa-facing funds. The recent launch of two such funds adds to a widening range of options: Sanlam Investment Management has started up an ex-South Africa fund, while Silver Street Capital has just set up an [...]
