Bleak end to 2012 for the UK February 27, 2013 While many focus on that slight upwards revision to UK GDP for last year as a whole, the components of the last quarter GDP slump by 0.3 per cent are troubling. Government spending is up 0.6 per cent, while the coalition tells us that they are committed to austerity. As a smaller rise of 0.1 [...]
Revision sees UK growth in 2012 February 27, 2013 The UK's GDP growth has been revised up from stagnation to 0.3 per cent for 2012 while growth for the fourth quarter remains unrevised at -0.3 per cent.
Italian confidence falls ahead of crucial bond auction February 27, 2013 The ISAE index for Italian consumer confidence saw a fall to 77.4 in February from 80 last month. Not a terrible number, as the country remains locked in political uncertainty. Open Europe's Vincenzo Scarpetta discusses the role political uncertainty will play: Italy’s borrowing costs have been rising over recent days, but they remain well below [...]
Esure confirms intention to float on LSE February 27, 2013 INSURER Esure this morning confirmed plans to list on the London Stock Exchange in a £50m float. The offer will comprise the sale of new shares and the partial sale of existing stakes held by current investors, including founder Peter Wood. Esure, which owns Sheilas’ Wheels, will float up to half its business in an [...]
EADS posts strong profits February 27, 2013 EUROPEAN defence and aerospace giant EADS benefited from double-digit revenue and profit growth last year, boosted by a strong performance from its Airbus division. Net profit jumped 19 per cent to €1.2bn (£1bn), on revenues 15 per cent higher at €56.5bn. Revenues at aircraft maker Airbus rose 17 per cent to €38.6bn, reflecting strong commercial [...]
European markets looking healthier February 27, 2013 Most European indices are in the green this morning: FTSE100 +0.38 per centDAX +0.44 per centCAC +0.69 per centIBEX +0.81 per centFTSE MIB +0.89 per cent There was some improved consumer confidence data out of Germany as the Gfk Consumer Confidence Survey increased from 5.8 to 5.9. French consumer confidence remained unchanged. Generally markets are calming after yesterday's Italian panic. [...]
Centrica annual earnings jump five per cent February 27, 2013 ENERGY giant Centrica this morning posted a five per cent jump in adjusted earnings, boosted by the colder weather. Centrica, which owns British Gas, reported adjusted earnings of £1.4bn, in line with expectations. Operating profit for the FTSE energy giant came in at £2.74bn, up 14 per cent from the previous year. British Gas, which [...]
Sterling still reeling from a Tucker punch February 27, 2013 When Monetary Policy Committee member Paul Tucker mentioned that some at the Bank had been considering negative nominal interests rates yesterday he knocked the pound down to below 1.51 against the dollar. While sterling regained some strength during the day, it's fallen back down to around that 1.51 level again this morning. Our banking specialist Tim [...]
FTSE 250 Results Round-up – 27/02 February 27, 2013 Barratt Developments, the residential property development company, released results for the six months to December (results) with profits increased by 113.4 per cent to £46.1m. Chief executive Mark Clare said that: Although we remain cautious as to whether the thaw in lending conditions will be sustained, improvements in mortgage lending and the success of the [...]
FTSE 100 Results Round-up – 27/02 February 27, 2013 Weir Group, the engineering company, has released full year results for the year ended December (results). They saw pre-tax profits rise from £396.3m to £443.1m. Chief executive Keith Cochrane has said that 2013 will bring more challenging markets. ITV, the media company, has released full year results for the year ended December (results). The [...]
