BEST OF THE BROKERS May 23, 2011 MITCHELLS & BUTLERS JP Morgan has downgraded the bar and restaurant operator from “overweight” to “neutral” on the back of recent share price strength, and has lowered its target price by 48p to 360p. The broker thinks the current share price reflects the dilutive impact of major disposals including 333 pubs. However, it expects M&B [...]
Fresh Eurozone debt fears see FTSE plunge to two-month low May 23, 2011 RENEWED concerns about the Eurozone debt crisis triggered a steep sell-off of Britain’s top shares yesterday, led by commodity stocks, with some analysts and investors seeing little on the horizon to tempt investors back into the market. The FTSE 100 index ended at its lowest closing level since 23 March, off 112.60 points, or 1.9 [...]
Doubts over factory growth hit Wall St May 23, 2011 US stocks closed at their lowest levels in a month yesterday in a sign of increasing doubt that equity markets can weather recent weakness in global manufacturing and demand. Industrial, energy and technology stocks, closely related to growth, were among the day’s top decliners. Poor manufacturing figures from Germany and China were a surprise and [...]
Don’t get taken for a ride on Elliott’s Waves May 23, 2011 IN 1938, the former accountant Ralph Nelson Elliott wrote The Wave Principle. A year later, the magazine Financial World commissioned a series of articles, which spread his message to a wider audience. It was an idea with huge implications for predicting market movements, based on the premise that “because man is subject to rhythmical procedure, [...]
DEJA VU ALL OVER AGAIN AS QE2 ENDS May 23, 2011 A LITTLE over a year ago, Greece was in the headlines as the parlous state of its public finances became apparent. At the same time, the US Federal Reserve was planning an exit strategy from its first round of quantitative easing (QE), and there was a major volcanic eruption in Iceland. As the speculation grew [...]
QE2: one is not amused by the potential for US equity downturn May 23, 2011 THE sheer size of the numbers involved in the Federal Reserve’s quantitative easing program (QE2) can be difficult to comprehend. By comparison, Queen Elizabeth II receives a paltry £7.9m per annum from the Civil List. This is nothing compared to the $600bn of US Treasuries bought by the Federal Reserve during this cycle of quantitative [...]
THE TIPSTER May 23, 2011 WITH another ash cloud looming, attention will inevitably turn to the airline sector that saw such high levels of disruption back in April 2010, when major airlines saw their profits take a battering on the back of long periods of aircraft down-time and general flight disruption. Admittedly, authorities know what they’re dealing with this time, [...]
Fake tans: the golden rules May 23, 2011 IT’S that time of year again. With the prospect of unveiling bare legs and arms for the summer weather, many of us are heading straight to the self-tanning counter. (Not least the cast of ITV2’s “The Only Way is Essex”, whose collective mahogany glow hit new levels at Sunday’s TV BAFTA awards.) But self-tan doesn’t [...]
Episode 13: Jermyn Street May 23, 2011 “Hello David.” I turn to face Caroline Davison. “Hello…” I begin. “I’m surprised you’re buying your shirts here. Thought you’d be getting them handmade now. I heard you’d been elevated to the peerage.” “Not quite the peerage Caroline.” “No but I’m sorry I didn’t drop a line to congratulate you.” “No. Not at all.” “So, [...]
French fare with added va va voom May 23, 2011 CHABROT BISTROT D’AMIS 9 Knightsbridge Green, SW1X7Q1, 020 7225 2238, www.chabrot.co.uk FOOD SERVICE ATMOSPHERE Cost per person without wine: £45 ON a wall inside the entrance to Chabrot Bistrot d’Amis hangs a large black and white photograph of a grizzled paysan emitting a gummy grin as he pours red wine from a magnum bottle into [...]
