WHERE DO YOU THINK THE FTSE 100 WILL END 2009? July 5, 2009 JOSHUA RAYMOND CITY INDEX4,600. The third quarter could help lift the markets if data all comes in line and momentum in terms of growth of companies’ profitability. I see economic recovery in mid-2010 and equity markets tend to react about six to eight months in advance. MANOJ LADWA ETX CAPITAL4,000. We’ll shoot to the downside [...]
No sustained rally for FTSE 100 this half July 5, 2009 WHATEVER the second half of 2009 holds for equity markets, it can only be better than the last six months of last year. But market analysts are not expecting the FTSE 100 to rally strongly through the third and fourth quarters, despite the blue-chip index’s strong rally since the depths of 3,500 back in March. [...]
CITY MOVES WHO’S SWITCHING JOBS July 5, 2009 Canada Life International The wealth management firm has appointed Mark Armstrong as its new head of operations. Armstrong joins from Axa in the Isle of Man, where he was director of technical and proposition support. He has over 20 years of experience in offshore financial services, having also previously worked as finance director at Allied [...]
Veteran City broker lured to join Oriel July 5, 2009 CORPORATE broking veteran Peter Meinertzhagen has been lured out of semi-retirement to join Oriel Securities, the broker run by his ex-colleague Simon Bragg, as an adviser. Meinertzhagen is best known in the City for advising some of Britain’s biggest companies during his 17-year tenure at the helm of Hoare Govett, now ABN Amro Hoare Govett [...]
Not too early to talk of green shoots of recovery July 5, 2009 The expression “green shoots” is one you either find comfort in or loathe at the moment. It was coined in 1991 by the former Chancellor of the Exchequer, Norman Lamont, when most of the world was going through an economic recession. Lamont thought he could spot the very first signs of a recovery, but was [...]
Booze query over PVM Oil rogue trader July 5, 2009 PVM OIL’S Steve Perkins, the rogue trader who lost the company £6m last week, may have been under the influence of drugs or alcohol when he went on a dealing rampage. It is understood that the Financial Services Authority (FSA) is investigating whether Perkins was inebriated when he used his home computer to make trades [...]
FULL HOUSE FOR CENTRE POINT July 4, 2009 Centre Point, the iconic London office tower has finally become fully occupied for the first time in its 40 year history after controversially spending the first 15 years of its life empty in a bid to reduce tax payments. Owner Targetfellow has now secured its last leasing to Onalytica, which is owned by the original [...]
Derby hero heads field of 10 July 2, 2009 HORSE RACING: Epsom Derby and 200 Guineas hero See The Stars heads a strong field of 10 for Saturday’s big race at Sandown, the Coral-Eclipse Stakes. John Oxx’s charge is joined by Rip Van Winkle, who finished fourth in last month’s Derby, as well as Ballydoyle stablemates Malibu Bay and Set Sail. Sir Michael Stoute’s [...]
Japanese take over at Plymouth July 2, 2009 FOOTBALL: A consortium of Japanese businessmen yesterday secured a majority interest in Plymouth Argyle. Japanese businessman Yasuaki Kagami now owns 38 per cent of the Championship club’s shares with Sir Roy Gardner and Keith Todd owning 13 per cent, giving the consortium 51 per cent. Sir Gardner, the former Manchester United chairman, takes over the [...]
Sir Alex lines up surprise bid to lure Michael Owen July 2, 2009 MANCHESTER United manager Sir Alex Ferguson is on the brink of securing a shock deal to bring former European footballer of the year Michael Owen to Old Trafford on a free transfer. Owen, whose career has been blighted by injury of late, is a free agent after his contract with Newcastle United ended on Tuesday [...]
