MPC’s Posen says UK not out of woods June 30, 2010 THE UK economy is still teetering on a knife edge between continued recovery and the renewal of a severe recession if not outright deflation, warned Bank of England policymaker Adam Posen. Speaking yesterday in London, the Monetary Policy Committee (MPC) member said that Britain was caught between the strong recovery outside of Western Europe and [...]
Business investment growth boosts hope of GDP increase June 30, 2010 BUSINESS investment growth in the UK in the first three months of 2010 has been revised upwards to 7.8 per cent on the previous quarter, official data showed yesterday. Encouragingly, the annual decline in business investment was consequently trimmed to 7.7 per cent from the previous estimate of 11 per cent. Service sector investment jumped [...]
Ireland led out of recession by exports June 30, 2010 IRELAND has finally quit the Eurozone’s longest-running recession in the first quarter, led to growth by strong exports. Gross domestic product (GDP) rose 2.7 per cent in the first quarter from the preceding quarter, above analysts’ median forecast for one per cent growth. Exports were the key factor, rising 6.9 per cent in the first [...]
THE TIPSTER June 30, 2010 A MONTH ago we pointed out that the outlook for Ladbrokes was bearish with the shares looking more likely to go down than up. Since then, Ladbrokes has fallen 7 per cent, despite what should be a profitable World Cup and the outlook has got even worse. It closed at a 6-month low at 131p, [...]
German unemployment falls June 30, 2010 German unemployment fell for the 12th consecutive month in June thanks to an improvement in business confidence which gave the recovery in Europe’s largest economy a helping hand. In seasonally-adjusted terms, the number of jobless fell by 21,000 taking the unemployment rate to 7.7 per cent. Officially, 3.23m Germans are out of work, the lowest [...]
London home prices up the most June 30, 2010 London and the South West have had the strongest growth in house prices, according to a Nationwide Building Society report. Second quarter London prices were up 13.2 per cent on a year earlier. South West houses are up three per cent and UK prices up 1.9 per cent.
Morgan Stan is top in global IPO rankings June 30, 2010 MORGAN Stanley has topped the underwriting league for initial public offerings (IPOs) in the first half of the year. A few large deals helped propel the Wall Street bank to first place, up from its number three spot at this time last year. It underwrote 36 deals with estimated proceeds of $5.9bn (£3.9bn) in the [...]
AstraZeneca leads flat FTSE after US patent win as BP rises on takeover talk June 30, 2010 BRITAIN’S leading share index was flat yesterday after a choppy session on the last day of the second quarter, with gains by AstraZeneca after a key US patent was upheld just countering weakness in miners. At the close, the FTSE 100 was up 2.65 points, or 0.1 per cent at 4,916.87, notching up a 13.4 [...]
US stocks fall at end of worst quarter since 2008 US stocks fall at end of worst quarter since 2008 June 30, 2010 US stocks staggered to the end of a dismal second quarter yesterday in another low volume session as investors found little reason to take on risk after conflicting economic data. The day ended like many during the quarter, with a late-day sell-off as buying interest waned and investors sold underperforming stocks in the worst quarter [...]
BEST OF THE BROKERS June 30, 2010 LLOYDS BANKING GROUP Credit Suisse has given Lloyds Banking Group an “outperform” rating. It upgraded forecasts for the bank last month after flagging that sustained low interest rates would allow for a £4bn increase in mortgage revenues over the next three years. Base rate expectations have since fallen to record lows, notes Credit Suisse. RESOLUTION [...]
