WHAT THE OTHER PAPERS SAY THIS MORNING December 22, 2011 FINANCIAL TIMES CALLS FOR QE TO STAVE OFF EURO DEFLATION A top European Central Bank policymaker has called for “quantitative easing” to be used to boost the eurozone economy if deflation risks emerge across the region. The comments by Lorenzo Bini Smaghi, ECB executive board member, are the strongest indication yet that the central bank [...]
FTSE given lift by airline deal December 22, 2011 The FTSE 100 nudged up this morning led by BA owner International Airlines group (IAG) which announced a deal for Lufthansa’s bmi. Overall European shares started higher with the FTSEurofirst 300 index gaining around one per cent in early trade while global stocks, as measured by MSCI world equity index, were edged up 0.2 per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 21, 2011 FINANCIAL TIMES EX-LEHMAN CHIEF TO RUN SPAIN’S ECONOMY Spain’s new government has placed the economy in the hands of Luis de Guindos, former head of Lehman Brothers in Spain, as Mariano Rajoy, the prime minister, seeks to return the country to growth while embarking on a programme of budgetary austerity. As finance minister, Mr de [...]
FTSE seesaws lower on banks and retailers December 21, 2011 BRITAIN’S top share index fell back after a volatile session yesterday, swinging back from early strong gains in low volumes, with banks seeing gains eroded, although Lloyds was boosted by a broker double upgrade. At the close, the FTSE 100 index was down 29.86 points, or 0.6 per cent at 5,389.74, reversing a chunk of [...]
To track or chase returns December 21, 2011 WHETHER investors should aim for alpha (beating the benchmark) or beta (tracking the benchmark) is a debate that divides investors. Here a defender of tracking beta and an advocate of chasing alpha put their respective cases. WORLDTRACK ANTHONY CHRISTODOULOU Should investors chase Alpha? In a word: no. Evidence shows that it is futile attempting to [...]
Banks fuel FTSE gains after Lloyds upgrade December 21, 2011 Banks led London’s blue chip index up in early trading – tracking gains in Wall Street and Asia. Exane BNP Paribas upgraded Lloyds to trigger a rise in the sector which has had a torrid year with the Eurozone debt crisis taking its toll. Lloyds was up 4.3 per cent as Exane BNP Paribas upgraded [...]
Equity deal volumes down by 31pc in 2011 December 20, 2011 THE GLOBAL market in new equity shrank by nearly a third this year in a stark indication of the damage done to capital markets by ongoing political turmoil all over the world. Annual figures from Dealogic show the amount of cash raised by issuing new shares has dropped to $621bn this year, down 31 per [...]
CITY MOVES | WHO’S SWITCHING JOBS December 20, 2011 Barclays Wealth Wellian Wiranto has been appointed as Asia economist at Barclays Wealth’s Singapore office. As a member of the Barclays Wealth global investment strategy group, Wiranto will also focus on interpreting market economics for private banking clients in the region. Prior to joining Barclays Wealth, Wiranto worked at HSBC Bank in Singapore as its [...]
Pharmaceuticals drag FTSE down December 20, 2011 Pharmaceuticals pegged the FTSE 100 index back early in trading today after AstraZeneca announced pipeline problems and lowered its earnings per share outlook. AstraZeneca, down 2.8 per cent, said it will take a $381.5m (£244m) pre- tax hit in the fourth quarter. The problems have arisen because a cancer treatment and antidepressant had failed tests. [...]
Banks hit by Vickers as North Korean leader dies December 19, 2011 The FTSE 100 was solid this morning but the festering Eurozone crisis continued to sap confidence in riskier assets and banks were down as the government confirmed that they would be hit with the full impact of the Vickers Report. But the agenda was dominated by the death of North Korean leader Kim Jong-il, sparking [...]