Energy stocks lift FTSE March 26, 2012 Energy stocks gave the FTSE 100 index renewed impetus in early trading but gains were limited by weaker miners and banks. Fears over China’s growth are still casting a shadow over commodity stocks while banks are still struggling to maintain upward momentum. Aberdeen Asset Management was the top riser, up 2.4 per cent as the [...]
FTSE edges up despite retail fears March 23, 2012 The FTSE 100 bounced back in early trading after falls mainly triggered by miners who are fearful of a slowdown of growth in China. However, gains were minimal with the tough climate for UK retailers being laid bare by data from Nationwide today showing that consumer morale is weakening. Blue chip retailer Kingfisher, which owns [...]
Miners dent FTSE as UK retail suffers blow March 22, 2012 Miners pegged back the FTSE 100 in early trading as more data suggesting China’s economic growth is slowing took its toll. The first full trading session sine Chancellor George Osborne’s Budget speech saw investors shun riskier assets with banks also being knocked back. Factory activity in China was down for the fifth month in a [...]
ARM names new chairman March 21, 2012 CHIP designer ARM Holdings said yesterday it had picked John Buchanan to succeed Doug Dunn as chairman. Buchanan is chairman of artificial knee and hip maker Smith & Nephew, deputy chairman of Vodafone and a senior independent director of BHP Billiton. Dunn, who has been chairman of the Cambridge-based company since 2006, will step down [...]
China worry rocks market March 20, 2012 FRESH concerns about a slowdown in China’s economy yesterday sent a shudder through global markets, including the oil trade, which saw the price of crude drop at its sharpest level in two weeks. China yesterday hiked its retail fuel prices for the second time in six weeks, sparking fears of lower demand from the world’s [...]
FTSE SUFFERS BIGGEST FALL IN TWO WEEKS March 20, 2012 BRITAIN’S top share index suffered its sharpest fall in two weeks yesterday, as concerns over materials demand in top consumer China hit commodities-linked sectors, marring a rally that had been part-driven by hopes for improving global growth. The benchmark FTSE 100 index closed down 69.7 points, or 1.2 per cent, at 5,891.41, having rallied more [...]
CHINA SENDS WALL ST DOWN March 20, 2012 A warning about China’s growth sparked selling in energy and industrial shares yesterday, but the broad market’s losses were contained, a sign of resilience for US stocks. The S&P energy index fell 1.4 per cent and ranked as the worst performer among the S&P 500 sectors. Global mining giant BHP Billiton said it saw signs [...]
AUSSIE DOLLAR CAUGHT IN A TUG-OF-WAR March 20, 2012 FINANCIAL FEATURES WRITER GIVEN its usual position as a proxy for risk and its draw as a high-yielding currency in a sea of near-zero yields, the Aussie dollar ought to be surging against its pairs. A tug-of-war is ongoing between carry trade demand for yield and European economic weakness on the one side and a [...]
CAR TALK March 20, 2012 CITROEN REDUCES COST OF EVS Driving EVs is gradually becoming more affordable. Citroen and Peugeot have slashed the prices of their C-Zero and iOn models so that each car now has an on-the-road price of £26,216 (down from £33,155). The government’s £5,000 plug-in car grant reduces the price to just £21,216. Contract hire rental rates [...]
Miners peg back FTSE as UK inflation dips again March 20, 2012 Miners pegged the FTSE 100 back in early trading as fears that demand from China for metals was falling sapped investor confidence. BHP Billiton, the world’s biggest miner, fell 1.9 per cent after saying it was seeing signs of “flattening” iron ore demand from China. The sector is pinning its hopes on continuing fast growth [...]