Best of the Brokers September 30, 2012 EASYJET Numis rates the airline “hold” with a target price of 525p ahead of a pre-close trading update on Wednesday. Analyst Wyn Ellis expects to see a jump in post-Olympic traffic. ROBERT WALTERS Peel Hunt has a “sell” rating and a price target of 160p. Henry Carver thinks the recruiter will report increasingly difficult trading [...]
Banks to announce interest rates days after key economic indicators September 30, 2012 THE first day of the month brings with it September’s Purchasing Managers’ Index (PMI) manufacturing data for the UK and Eurozone. Last month’s UK figures painted a rosier-than-expected picture of the sector, although the Eurozone figures were disappointing. The news will be followed up tomorrow by construction data from the PMI, although FirstGroup’s trading update [...]
Election debate kicks off amid gains for S&P September 30, 2012 WALL Street will open October with a busy week, highlighted by low expectations for global manufacturing data and the US jobs report. Any positive surprises may help lift the market. The S&P 500 finished its third positive quarter in the last four on Friday, despite suffering its largest weekly percentage decline since June. For the [...]
The business of winning a smile from a sceptic September 30, 2012 THE French policeman, or gendarme, didn’t look happy as he got off his motorbike. He had waved over my car after seeing me talking on my phone, and driving around a roundabout twice. However, his expression changed to one of utter disbelief when I greeted him with “Thank God you are here!” Before he could [...]
Canary Wharf Group gets behind finance entrepreneurs September 30, 2012 FOR too long, the worlds of entrepreneurship and finance have been separate spheres. The choice has always been between working for a behemoth in the corporate jungle, or taking that leap of faith to go it alone in a field of work unrelated to your City career; indulging a personal passion – perhaps opening that [...]
Disruptive technology can rebuild manufacturing for the internet age September 30, 2012 BRITISH manufacturing is not finding it easy. Output shrank once again in the second quarter of 2012, having failed to deliver any significant growth in over a year. Once the workshop of the world, the UK has slipped down the manufacturing league tables. Does it matter? A few years ago, the answer from many economists [...]
More diverse financial services are critical to restoring trust in UK banking September 30, 2012 THE business of politics and the politics of business are rarely more intertwined than during the party conference season. Last week, the City of London was in the crosshairs of the Liberal Democrats, and it is likely to remain in sharp focus as Labour takes the stage in Manchester today. We all know that the [...]
Restraints on high frequency trading may hurt liquidity September 30, 2012 IT IS surprising that an event that took place in the US is causing a regulatory backlash in Europe. The now infamous 2010 flash crash, in which the Dow Jones plunged by about 9 per cent, is the main justification for various European regulatory initiatives against electronic market-making firms .These initiatives may, however, cause more [...]
As the euro crisis continues, could a country leave the single currency in the near future? September 30, 2012 YES Jonathan Loynes The recent reduction in the likelihood that one or more countries will leave the euro reflects the European Central Bank’s (ECB) pledge to do “whatever it takes” to save the single currency. But, there is still huge uncertainty over whether the ECB will follow up its words with decisive action. Problem countries [...]
Rapid responses September 30, 2012 The case of Estonia [Re: Estonia proves that it’s possible to cut spending and continue to grow, yesterday] While I envy Estonia’s finances and politics, its case merely proves that it’s possible to cut spending and recover from economic crisis if certain conditions are in place – and these are conditions that are almost entirely [...]
