A string of strong earnings reports sends FTSE jumping April 20, 2011 COMMODITY stocks helped power the FTSE 100 index sharply higher yesterday, while earnings from Reckitt Benckiser and Home Retail, following US tech bellwether Intel, boosted risk appetite. The FTSE 100 closed up 125.39 points, or 2.1 per cent, at 6,022.26 following a 0.5 per cent gain on Tuesday. This wiped out Monday’s 2.1 per cent [...]
BHP profits up despite flooding April 19, 2011 BHP Billiton, the world’s biggest mining house, last night reported a seven per cent jump in iron ore production for the third-quarter, but warned persistent rains in Australia continued to curtail its coking-coal operations. It has production centres in Queensland, which was inundated by record floods in the March quarter.
Open sesame: the Porsche Targa April 19, 2011 I’VE been wanting to drive a 911 Targa for a while and here’s why. For all the clever engineering and folding tin-top balletics seen on many sports coupes in recent years, there is no getting around the fact that I am not fantastically taken with convertibles. Sure, I can appreciate what a wonderful experience it [...]
CAR TALK April 19, 2011 LUXE NEW MINI BMW has introduced the most exclusive and luxurious Mini yet at the Shanghai motor show. The “Mini Inspired by Goodward” is a 1,000 limited edition Mini crafted using Rolls-Royce materials and overseen by RR designers. The Mini has an interior trimmed in walnut burr, black RR-quality nappa leather, a deep-pile lambswool carpet, [...]
Looking for an independent voice on Glencore April 18, 2011 AMONG all the many big beasts advising on the forthcoming flotation of commodities trader Glencore, one firm stands out in its unusualness and lack of big beastliness, and that is Liberum Capital. Liberum is an employee-owned investment bank whose Latin name means independent, whereas the rest of the advisers – including Credit Suisse, Morgan Stanley, [...]
THE WEEK AHEAD in association with GFT April 17, 2011 COMPANY NEWS ● On Tuesday, RBS will hold its AGM. The Treasury, on behalf of British taxpayers, still owns the majority of its shares. ● Tesco will report on Tuesday. Every little helps. Fellow FTSE 100 companies Reed Elsevier and Hargreaves Lansdown will be posting first quarter and third quarter results respectively. It’s a busy [...]
Output tumbles at Fresnillo April 13, 2011 FRESNILLO, the world’s largest primary silver producer, said yesterday that silver output declined in the first-quarter due to lower ore grades. The Mexican precious metals miner said silver production fell 2.2 per cent to 10.1m ounces, including output from the Silverstream agreement. The FTSE 100 miner said it was taking measures to increase the volume [...]
UK companies set to unlock profit out of global growth April 13, 2011 TOM Ewing is the engaging and energetic manager of Fidelity’s UK Growth fund, which has over half a billion pounds under management. The 34 year old scours the country looking for undervalued companies that are able to tap into the increasing wealth of consumers in emerging markets. From the powerhouses of the FTSE, down to [...]
Goldman calls top of rally in commodities April 12, 2011 COMMODITY prices dipped yesterday after long-term bull Goldman Sachs advised clients to close their long positions on a basket of commodities including copper, platinum, soy beans and crude oil. Goldman’s “CCCP basket” has made a 25 per cent gain over the last four months, but the bank warned clients to take profits before an expected [...]
The new, prettier Jeep April 12, 2011 JEEP is America’s original, iconic extreme off-road brand and the oldest SUV brand there is. Originally used by the US military, its since become an upmarket choice for the school run. With its latest Compass SUV, which goes on sale this month (the first modern Jeep to be offered with a two-wheel “soft roader” option), [...]