A data-driven Fed could well taper in December December 2, 2013 But whenever the QE wind-down begins, a dramatic pull-back for equities will not necessarily follow In a data-heavy week for the US, investors will scrutinise consumer sentiment, revised GDP figures, and the crucial non-farm payroll report on Friday for signs that the Federal Reserve could judge the US economy ready for the start of tapering [...]
CNBC Comment: Why US equities could stay strong December 2, 2013 THE US stock markets are flying high. Last week, the S&P 500 saw gains for the eighth consecutive week. But will it continue? I was reading the most recent Barclays Global Macro Survey, and thought I’d share a few of its main findings with you. While it is no surprise that the possibility of the [...]
Barclays cracks top five FTSE broker rankings December 1, 2013 BARCLAYS broke into the top five FTSE 100 stockbroker rankings last month, overtaking Deutsche Bank, fresh figures released today show. The British bank added two new blue chips to its roster of clients – supermarket giant Tesco and engineering firm Amec – to place it joint fifth in a list of the top brokers, ranked [...]
12 times as many bankers earning €1m in Britain than any other European country November 29, 2013 The European Banking Authority has produced figures that show Britain has 12 times as many bankers earning over €1m (£856,000) than any other country in Europe. More than 3,500 bankers in Europe earned €1m or more last year, up 11 per cent from 2011. Britain accounted for 2,714 of the figure with the next highest, [...]
Inside Track: John Peace prepares to shake up Standard Chartered board November 28, 2013 In the past few days there have been suggestions that relations within the Standard Chartered boardroom aren’t all that they might be. The emerging markets-focused bank survived the financial crisis intact only to see its reputation damaged last year by getting caught up in a sanctions-busting scandal.“ The event led to questions over the chairmanship [...]
Best of the Brokers for 29 November 2013 November 28, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com BETFAIR Betfair’s odds are looking good according to Numis analysts’ report ahead of interim results next week. The broker has a buy rating and 1,200p target price, and believes Betfair will give hints about where its strategy is heading, along with a four [...]
Cyber fraud victims lose an average of £371 this year November 27, 2013 As 33.6m of us are expected to storm online stores this Monday, new research from Barclays and Kaspersky Lab reveals that 4m of us were hit by cyber fraud in the last year. Victims were stung for a total of £1.5bn – an average of £371 per person. Shoppers are expected to rush for online [...]
Analysts spread gloom ahead of Tesco numbers November 26, 2013 TESCO received an unwelcome early Christmas message from City analysts yesterday, as predictions of a further decline in third quarter like-for-like sales sent its shares down 2.5 per cent. Barclays predicted yesterday that the UK’s largest supermarket will report a 1.8 per cent fall in UK like-for-like sales next week compared with flat sales in [...]
City Moves for 27 November 2013 | Who’s switching jobs November 26, 2013 Aecom Patrick Flaherty has been appointed managing director for the UK and Ireland at the technical and management support services firm. He joins from Fluor, where he was managing director of its UK operations and led its infrastructure business. Axa Investment Managers The asset management division of Axa has announced the appointment of John Porter [...]
Barclays to pay monthly top up to account for EU’s bonus cap November 25, 2013 HUNDREDS of Barclays’ highest paid staff are in line for extra payments to top up their salaries and replace the income lost by the EU’s incoming bonus cap, the bank has told workers. The level of the monthly payment, known as Role Based Pay according to an email to staff seen by City A.M., will [...]