LSE set to join the auction for £1bn LME January 29, 2012 THE London Stock Exchange (LSE) is set to join the bidding process for the £1bn-rated London Metal Exchange. Xavier Rolet, chief executive of the LSE, is said to be ready to battle America’s IntercontinentalExchange, one of the parties to first express an interest in buying the LME last year. Rolet wants to diversify the LSE [...]
FTSE slips as investors eye US growth data January 27, 2012 THE FTSE 100 slipped in early trading as investors looked to Greece for signs of progress on a deal to save it from default and to the US where key GDP figures are due for release. Greece and its private creditors made progress in talks on restructuring its debt yesterday with some indication given that [...]
Morale among consumers lifts in Germany January 26, 2012 CONSUMER sentiment in Germany is set to improve for the fifth consecutive month in February, according to survey data released yesterday by GfK. And French consumers became slightly less pessimistic in December, official statistics agency Insee said. However, Italian confidence remains at its lowest level in 16 years. The GfK economic expectations index for Germany [...]
CITY MOVES | WHO’S SWITCHING JOBS January 26, 2012 AXA Deborah Shire has been appointed as global head of business development at Axa Real Estate Investment Managers. Shire will join the AXA Real Estate management board and will report directly to CEO Pierre Vaquier. Shire is promoted from deputy head of structured finance at AXA Investment Managers, which she joined in 1998 as a [...]
Miners fuel FTSE gains as Fed eyes growth January 26, 2012 The FTSE was boosted by the US Federal Reserve’s promise to keep interest rates – and therefore bond yields – ultra-low for the next couple of years while positive results from miners also contributed to gains. Fed chief Ben Bernanke said that it may consider further monetary easing and would keep rates near zero until [...]
DAVOS DIARY January 25, 2012 IS Lord Mandelson missing the limelight? The dark prince was all over the forum like a rash yesterday, hot-footing it from one engagement to another. Before any sign of sun was showing through the thick snowclouds covering Davos yesterday, Mandy suited and booted for a breakfast hosted by WPP chief executive Sir Martin Sorrell. Demonstrating [...]
Banks and oil firms weigh on the FTSE January 25, 2012 BRITAIN’S top shares closed lower yesterday as banks fell out of favour after brokers urged caution on the sector after recent gains, while poor growth in the UK highlighted the challenges facing corporates to meet earnings expectations. London’s blue chip index closed down 28.90 points, or 0.5 per cent at 5,723.00, as the FTSE 100 [...]
Hedge fund managers rush to set up new firms January 25, 2012 Several high-profile hedge fund managers are attempting to set up their own firms, despite a year of underperformance for the industry. Managers including ex-Gartmore employee Guillaume Rambourg, former Barclays Capital commodities trader Todd Edgar and Sutesh Sharma, a senior proprietary trader at Citi are amongst those trying to raise capital for new businesses. The launch [...]
FTSE flat as UK recession looms January 25, 2012 The FTSE 100 was flat after optimism from strong results from Apple in the US fell away with GDP data showing that Britain is on the brink of recession. Later today the Fed will announce its interest rate decision after the European markets close, with no change expected to the US central bank’s 0.25 per [...]
CITY MOVES | WHO’S SWITCHING JOBS January 24, 2012 Liberum Capital Mark Godridge has joined the investment bank as chief executive of its US subsidiary Liberum Capital Inc. He joins from JP Morgan Cazenove, where he has led the European and emerging market sales team since the merger of the two companies in 2010. In the five years preceding the buyout, Godridge was president [...]