BEST OF THE BROKERS March 26, 2012 BT GROUP UBS rates the telecoms group as “neutral” but raises its target price from 210p to 230p after BT announced on Friday that it will halve its pension deficit by end of March 2012 and said the current deficit stood at £4.1bn – below the expected £6bn. UBS now expects the company’s dividend to [...]
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 [...]
BT to pay off pension deficit faster than expected March 23, 2012 British telecoms group BT said it would pay down its £4.1bn pension deficit more quickly than previously planned, removing uncertainty over the scheme and raising hopes it will pay a higher dividend in future. Shares in the former telecoms monopoly leapt to a four-year high on Friday after it announced a lump sum payment into [...]
TNT Post bids to rival Royal Mail’s service March 22, 2012 TNT POST is further encroaching on Royal Mail territory by launching an end-to-end delivery trial in London as part of a long-term plan to rival the government-owned postal service. Following a successful trial in Liverpool, TNT postal workers will hit the streets of west London from mid-April to test the waters for extending the company’s [...]
Dim view of banks puts the brakes on FTSE 100’s rally March 19, 2012 BRITAIN’S top shares eased back from last week’s 2012 highs yesterday, as weakness in banks after recent strong gains overshadowed a late-session recovery from miners, with investors awaiting the next catalyst to drive the market. The benchmark FTSE 100 index closed down 4.47 points, or 0.1 per cent, at 5,961.11. Banks, which spearheaded the FTSE [...]
Banks and miners stall FTSE rally March 19, 2012 The FTSE 100 edged lower today as last week’s rally was ended by investors steering away from banking and energy stocks. Banks have led the market higher over recent sessions following a deal over Greek debt and improving market sentiment toward the stocks which have been hit by market volatility over the past year. They [...]
London 2012 IMAGE OF THE WEEK March 8, 2012 OLYMPIC SITE | ORBIT The ArcelorMittal Orbit, designed by Anish Kapoor and now the UK’s largest piece of public art, continues to take shape next to the Olympic Stadium. This week’s image was sent in by Andy Wilkes, a contractor on the site and a BT Olympic storyteller. Photo: Andy Wilkes Between now and the [...]
Ofcom confirms BT’s price caps March 7, 2012 THE EUROPEAN Commission has given the green light to Ofcom’s proposed price caps for Openreach, BT’s wholesale broadband division. Ofcom, which regulates BT Openreach due to its “significant market power”, will lower annual charges by five to 20 per cent, with further reductions each year until March 2014. BT said it disagrees with some assumptions and will [...]
Ex-Tchenguiz property firm in £62m deal March 6, 2012 THE property management company run by Vincent Tchenguiz before he became embroiled in a fraud probe has been rescued from administration in a £62m deal. Peverel has been taken over by private equity houses Chamonix and Electra Partners, who said they would secure more than 4,200 jobs. It comes nearly a year after the holding [...]