Daisy to buy Wordlwide for £28m April 13, 2012 The FTSE 100 edged down in early trading as investors digested data showing a slowdown of growth in China’s economy. Official figures released overnight showed that China’s economy grew at its slowest rate in almost three years. Gross domestic product increased by a rate of 8.1 per cent in the first quarter, down from 8.9 [...]
FTSE down as China growth slows April 13, 2012 The FTSE 100 edged down in early trading as investors digested data showing a slowdown of growth in China’s economy. Official figures released overnight showed that China’s economy grew at its slowest rate in almost three years. Gross domestic product increased by a rate of 8.1 per cent in the first quarter, down from 8.9 [...]
Vickers report morphs from a fudge to a whitewash April 12, 2012 JUST six months after the publication of the Independent Commission on Banking’s final report, Sir John Vickers’ recommendations on boosting competitiveness are falling on deaf ears. Initially, Vickers recommended in his interim report that Lloyds be made to sell “substantially” more than the 632 branches it is being forced to put on the block to [...]
Miners lead FTSE higher on hopes of strong economic growth in China April 12, 2012 BRITAIN’S top share index hit a one-week closing high yesterday as mining stocks jumped on market talk that China, the world’s biggest metals consumer, could report strong economic growth numbers today. Economists polled by Reuters in March forecast that China’s GDP expanded 8.3 per cent in the first quarter of 2012 versus a year earlier. [...]
Oil giants dent FTSE April 12, 2012 The FTSE 100 was flat this morning as oil giants BP and Shell saw their stocks hit. Royal Dutch Shell reported that oil had been spotted in the water near one of its platforms in the Gulf of Mexico while BP faced a shareholder revolt today. Another significant drag on the market was the World [...]
Runners and riders in the race to take King’s throne April 11, 2012 STANDARD Chartered chief executive Peter Sands yesterday became the first candidate to definitively rule himself out of the race to succeed Mervyn King, Bank of England governor. His appearance on the scene and exit leaves only two bankers as possible successors to King, whose final term as governor ends in June 2013. The timeline leaves [...]
BEST of the BROKERS April 11, 2012 BT GROUP JP Morgan Cazenove has downgraded the telecoms group from “overweight” to “neutral” following a strong share price performance that has seen it rise by 20 per cent over six months, compared to a drop of five per cent across the European telecoms sector. The broker sees revenue risk in both the full year [...]
Banks lead FTSE to a rebound in spite of jitters over the Eurozone April 11, 2012 BRITAIN’S top share index rebounded from a three-session slide yesterday as a rise in banking stocks following a positive broker comment and gains in mining shares boosted the index. The FTSE 100 index closed up 39.19 points, or 0.7 per cent at 5,634.74, reversing a downward spiral when the index surrendered almost all its remaining [...]
FTSE steadied by banks and miners April 11, 2012 The FTSE 100 steadied this morning but fears over world growth and in particular the continuing Eurozone debt crisis cast a shadow over markets. Having fallen back to its weakest point this year the blue chip index was given a boost by miners and banks but the market was effectively flat. The sector had been [...]
ABI warns on Barclays pay April 10, 2012 THE ASSOCIATION of British Insurers has voiced concerns about executive pay at Barclays, raising the pressure on the bank over chief executive Bob Diamond’s recent £17m pay award. The ABI, whose members own 20 per cent of the FTSE All-Share index, has issued an “amber top” warning over the pay, one step down from its [...]