Bank of England opts against more stimulus November 8, 2012 The Bank of England refrained from pumping more cash into the economy today, leaving the current stimulus programme at £375bn. The decision to hold quantitative easing is likely to have been close, with rate setters weighing up the UK’s GDP growth in the third quarter against signs of renewed weakness since then. It is understood [...]
Balfour Beatty warns on profits November 8, 2012 Infrastructure company Balfour Beatty this morning issued a profit warning, weighed down by weak construction service trading. The FTSE 250 firm said difficult trading conditions had persisted in its construction services division, which accounts for around 30 per cent of Balfour’s business. As a result, profits for this year will be lower than expected, it [...]
FTSE 100 recovers after sharp falls yesterday November 8, 2012 The leading share index was up in trading this morning, after falling sharply yesterday. Miners led the bounceback, helped by a recovery in copper prices. Russian-focused oil firm Ruspetro added 7.4 per cent in early deals, as it reported a well in Siberia was on track to meet its full-year targets. Healthcare provider BTG was [...]
EADS on track to hit 2012 targets November 8, 2012 Defence firm EADS this morning said it was on track to meet its 2012 revenue and profit guidance, as it got itself back on track following the collapse of merger talks with British firm BAE. Over the nine months to September, EADS revenue jumped 14 per cent to €37.3bn (£29.8bn), up from €32.7bn over the [...]
German exports slump in September November 8, 2012 German exports fell at their fastest pace since last year in September, fuelling fears that the Eurozone crisis has finally reached the area’s largest economy. Imports also fell, sliding 1.6 per cent in September. Exports declined 2.5 per cent over the month, and 3.4 per cent year on year. The seasonally-adjusted trade surplus narrowed to [...]
Morrisons sales fall in challenging market November 8, 2012 Britain’s fourth-largest supermarket Morrisons this morning posted a 2.1 per cent drop in like for like sales over the 13 weeks to 28 October, hurt by fragile consumer confidence. Total sales excluding fuel fell 0.4 per cent over the period. “With consumer confidence still fragile and high levels of promotional activity a persistent feature of [...]
He’s back November 7, 2012 VICTORIOUS President Barack Obama addressed adoring crowds in Chicago yesterday after winning a second term at the White House, yet was hit by an immediate reality check as markets crashed on the back of renewed tensions in the Eurozone. In New York the Dow Jones crashed by 2.36 per cent to end the day at [...]
All eyes on the fiscal cliff as conflicts linger November 7, 2012 INVESTOR worries over the so called US fiscal cliff are growing following the re-election of Barack Obama to the White House and continuing Republican control of the House of Representatives. Republican House speaker John Boehner last night told Obama that his colleagues were ready to be led towards a fiscal solution. Democrat Obama’s first term [...]
Ten observations on a historic election for the United States November 7, 2012 1 The popular vote was very close: 50.4-48.1 per cent, and a gap of 2.8m votes, against 52.9-45.7 per cent and 9.5m votes in 2008. Obama’s lead was cut from 7.2 points to 2.3 points. However, Obama triumphed in all of the swing states. 2 Many factors destroyed Romney: he was a poor candidate with [...]
Will US markets recover? November 7, 2012 MICHAEL HEWSON | CMC The US market rally appears to have been one of those “act in haste and repent at leisure” types of market reaction which investors in hindsight wish they’d thought better of. Yesterday morning’s news from Europe has seen US markets plunge on the open as investors quickly realised that for all [...]
