BEST of the BROKERS June 25, 2012 BSKYB Espirito Santo’s Giasone Salati has issued a “buy” rating on satellite TV giant BSkyB and a fair value of 820p, up from 790p. Referencing a propriety survey, the analyst believes that BSkyB’s NOW TV product could attract a potential 650,000 new users paying £10 per month. Espirito Santo also points towards the potential for [...]
Banks and miners peg FTSE back June 25, 2012 Miners and banks led the FTSE 100 lower in early trading as fears over stalling global growth took their toll. With the grim scene in the Eurozone still casting a shadow investors were shying away from riskier assets. Spain today formally requested a bailout loan for its banking sector from its eurozone partners. The loan [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 24, 2012 FINANCIAL TIMES MPC member wants £50bn easing The Bank of England needs to pump at least another £50bn into Britain’s “stalled” economy, says David Miles of its interest rate-setting committee, warning that only a “substantial” third round of emergency bond-buying will kick-start recovery. Bank chiefs enjoy double-digit pay rises Top US and European bankers, including [...]
Market report: FTSE drops after Moody’s downgrade banks June 22, 2012 The FTSE was down this morning following poor global growth forecasts and the decision by credit ratings agency Moody’s to downgrade some of the world’s biggest banks. Last night Moody’s lowered the credit ratings of 15 of the world’s biggest lenders to reflect the risk of losses they face from volatile capital markets. But the [...]
Vodafone wins key support for £1bn CWW deal June 18, 2012 VODAFONE’S £1.04bn offer for Cable & Wireless Worldwide was yesterday approved by shareholders after the bid’s main objector withdrew its opposition. After weeks of threatening to vote against the deal, fund manager Orbis – which owns 19 per cent of CWW’s stock – surrendered yesterday morning after the telecoms company revealed it already had the [...]
Crunch time as Vodafone faces the CWW vote June 17, 2012 THE WAIT is over. Vodafone will today find out whether its 38p per share offer for Cable & Wireless Worldwide is attractive enough to win over the telco’s stakeholders. The deal will this morning be put to CWW’s shareholders, two months after Vodafone unveiled the £1.04bn offer that would make it the UK’s second largest [...]
Banks rally fuelled by emergency credit plan June 15, 2012 The FTSE 100 saw rises fuelled by a rally in banking shares as the Government and the Bank of England announced plans to pump in £100bn of credit into the economy. Emergency measures to breathe new life into the economy were unveiled by Chancellor George Osborne last night with the money printing presses to be [...]
Investors call foul to Sky and BT’s footy deal June 14, 2012 UNIMPRESSED investors yesterday drove down the price of shares in BSkyB and BT after the companies announced they had agreed to pay a collective £3.018bn for the right to broadcast the Premier League’s games. At an average £6.53m per match, the deal will plough an extra 70 per cent into the Premier League’s pockets. Shares in [...]
Spanish worry keeps FTSE low June 14, 2012 BRITISH blue chips dipped yesterday, edging down towards recent six-month lows as a surge in Spanish bond yields to record highs cast the spotlight back onto the problems in top trading partner the Eurozone. Uncertainty ahead of Greek elections at the weekend – which may decide whether the country stays in the currency or opts [...]
Sky under threat as BT takes fight to football rights June 14, 2012 BSKYB’S delight at remaining the primary broadcaster for live football in the UK is not unreserved. Increased competition from the likes of Al Jazeera and ESPN has forced it to pay handsomely for the privilege, and the entry of BT into the market threatens its pre-eminence more powerfully than any of its previous competitors have [...]