Eurozone worries dent bank shares September 5, 2011 EUROPEAN stocks tumbled four per cent yesterday, with banks plumbing a more than two-year low, as fears for the future of the Eurozone bubbled up against a background of weak economic growth and threats to the banking sector. The euro fell across the board, with peripheral Eurozone debt concerns and political uncertainty in Germany prompting [...]
BEST OF THE BROKERS September 5, 2011 INTEGRA GROUP Morgan Stanley rates the Russian oilfield services provider as “equal-weight” and lowers its target price of $2.80, implying an 18 per cent upside. The broker says the company’s first-half results were in line with expectations, reporting adjusted Ebitda of $56m and revenues of $444m. Integra’s acquisition of Siam Company for $76m, should complement [...]
German court blocks Samsung September 5, 2011 Samsung Electronics has stopped promoting its new tablet computer at Europe’s biggest consumer electronics fair after a court-ordered sales injunction in Germany, the latest setback in its global patent battle with Apple. A Dusseldorf court ordered the South Korean company to stop selling Galaxy Tab 7.7 when the annual IFA electronics show started in Berlin.
TowerJazz wins chip contract September 5, 2011 TowerJazz said it will make chips for Samsung Electro-Mechanics, creating a platform that could bring the Israeli chipmaker $50m (£31m) a year in revenue by 2014. The chips for high voltage products will use TowerJazz’s 700 volt power management process, starting with AC/DC adapters and battery chargers for personal computers as well as commercial lighting.
UK’s economic outlook is increasingly weak September 5, 2011 THE UK’s economy is sick and the cheap fix of quantitative easing (QE) is being touted as the cure. The broad consensus was that yesterday’s Markit/Cips services purchasing managers’ index (PMI) was going to come in at around 54.0. It instead dropped off a small cliff, declining from 55.4 in July to 51.1 in August. [...]
HOPES OF QE3 CAN’T DISPEL THE US GLOOM September 5, 2011 AT THE beginning of last week, investors appeared to have regained their risk appetite. Although trading volumes were light, equities continued their recovery following the sharp sell-off in early August. As we approached month-end, buyers appeared confident that a near-term bottom for the major stock indices was in place. Yet most economic data releases continued [...]
Why platinum and gold are two very different beasts September 5, 2011 FOLLOWING the meteoric rise in gold prices, the yellow metal is now trading at a premium to platinum, reversing the usual pattern. Spot gold was at $1,900.30/oz yesterday, with platinum at $1,885/oz. Because of this, many are suggesting that platinum is underpriced. But a comparison with gold may not be the best method of valuation. [...]
THE TIPSTER September 5, 2011 THE threat of Federal Housing Finance Agency (FHFA) lawsuits from the US is certainly hammering banks and with Barclays being very much on the Agency’s hit list, the stock has been tumbling in London over recent days. However, heavyweight investors have shown conviction in the bank in the past, so is there any reason to [...]
The rise of the Indian superpower September 5, 2011 1 INDIA IS BECOMING A HARD POWER India used to be a leading member of the Non-Aligned Movement. Until 1991, its foreign policy was marked by a refusal to enter into military agreements with major powers. The collapse of India’s closest ally, the Soviet Union, forced Delhi to change its position and seek a rapprochement [...]
Salve your post-holiday skin with these soothers September 5, 2011 CHANCES are, you’re either fresh off the beach – skin still salty and a little tender – or you’re mourning the departure of your tan. The spectre of skin damage is probably also lingering somewhere. How to claw back the health of some of those damaged cells – and in the first instance, how to [...]
