ANALYST VIEWS: IS THERE LIGHT AT THE END OF THE TUNNEL FOR YELL? July 20, 2011 ALAN HOWARD | CANACCORD This is more negative news on current trading for Yell, and another reminder that investors have yet to see any significant light at the end of the tunnel: the rate of decline of business, driven by the economic downturn and online migration, has yet to show any meaningful recovery. JUSTIN URQUHART-STEWART [...]
AstraZeneca hit as diabetes drug fails July 20, 2011 PHARMACEUTICAL giant AstraZeneca’s shares fell as much as 1.5 per cent yesterday after US medical regulators rejected its new diabetes drug because of its potential side-effects. Federal drug authorities said experimental diabetes medicine dapagliflozin should not be allowed on the market. The advisory panel vote on dapagliflozin, a once-daily pill designed to eliminate blood sugar [...]
Handelsbanken boosted by higher loan volumes and lending margins July 20, 2011 SWEDISH lender Handelsbanken said its financing position was strong when posting second-quarter profit that met forecasts yesterday, helped by rising loan volumes at home and improved lending margins. At a time of worries about bank exposure to the Eurozone debt crisis and rising funding costs, Handelsbanken said its funding position was sound — a liquidity [...]
BHP Billiton coal output rises – but flood still takes toll July 20, 2011 BHP Billiton, the world’s biggest miner, has reported a rise in coal output but said that flooding continues to hit production. Production of coal rose 19 per cent in the three months to 30 June compared to the previous quarter, it said. However, coal output is still down 28 per cent from the same period [...]
Hochschild says full year is still on track despite production fall July 20, 2011 LATIN American precious metal producer Hochschild Mining said output fell 13 per cent in the first half, as expected, and that it was on track to meet its full-year target. It produced 11.1m silver equivalent ounces in the first half due to lower grades at the company’s two main Peruvian operations, declining output from its [...]
AFREN CUTS PRODUCTION FORECAST July 20, 2011 Africa-focused oil and gas firm Afren has cut its 2011 production guidance by at least 25 per cent due to facilities stoppages, as it warned its output level at the year-end would be lower than previously forecast. The company, operating mainly in Nigeria, said it expected full-year production to average between 25,000 and 30,000 barrels [...]
CITY MOVES | WHO’S SWITCHING JOBS July 20, 2011 Hamptons International The property consultant has appointed Giles Maude (pictured) and Graham Jones to its development land team, reporting to head of land Simon Grier-Jones. Maude joins the firm’s Southern Home Counties division as an associate in the Esher office, and Jones will lead the Cotswold and West team as an associate director in Cheltenham. [...]
BEST OF THE BROKERS July 20, 2011 ROLLS ROYCE Goldman Sachs rates the engine maker a “buy” with an 850p target price on its conviction buy list, as it believes it is well placed compared to its peers and has strong long-term growth prospects. The stock has more defensive characteristics than many cyclicals and should outperform, GS believes. The soon-to-close Tognum acquisition [...]
Soaring tech stocks burnish banking rally to send FTSE up July 20, 2011 BANKING stocks led Britain’s top shares higher yesterday on strong corporate earnings and optimism over a deal in Washington to increase the US debt ceiling and avoid default. The UK benchmark index closed up 63.83 points, or 1.1 per cent, at 5,853.82, building on the previous session’s 0.7 per cent advance. Solid US earnings, including [...]
US shares pause on budget worries July 20, 2011 US stocks closed near unchanged yesterday, a day after Wall Street’s best rally since March, as the oncoming debt ceiling deadline overshadowed strong earnings from Apple. Apple hit another all-time high one day after the maker of the iPhone and iPad reported quarterly revenues that far exceeded expectations. The stock jumped 2.7 per cent to [...]
