THE TIPSTER October 31, 2011 SHARES in Man Group are languishing at lows not seen since March of 2009, down over 50 per cent year to date. Weekend reports suggested Man could be considering using some of its cash pile of around $1bn to fund a share buyback at current levels, so CFD traders were buying with tight stop losses [...]
Miners peg back markets October 31, 2011 European shares fell early in the session with miners hurt by falling metals prices while the afterglow of last week’s Eurozone debt deal began to fade. Miners were dented by Japan wading into the currency markets to rein in the value of the soaring yen, which sent the dollar up. A stronger dollar makes dollar-priced [...]
Barclays profits up as bad debt costs fall October 31, 2011 Barclays reported a five per cent rise in underlying quarterly profit as lower charges for bad debt at the bank offset a third consecutive sharp fall in investment banking revenues as the euro zone financial crisis deepened. Barclays said it did not intend to raise any equity capital. It said pre-tax profit in the three [...]
THE WEEK AHEAD October 30, 2011 COMPANY NEWS ● Barclays announces today. It traces its origins back to 1690, when John Freame and Thomas Gould traded as goldsmith bankers in Lombard Street. Eagle eyes await results. ● Imperial Tobacco announces tomorrow. Its brands include Davidoff, West, Gauloises Blondes, Montecristo and Drum. It was created in 1901 through the amalgamation of thirteen [...]
THE TIPSTER October 30, 2011 TRICK or treat? Marstons – brewer of Hobgoblin beer and pub owner – has like the rest of the market, enjoyed a frightfully good October, with shares rallying close on 20 per cent. Although the market is becoming increasingly dominated by a handful of giants, earnings are expected to be in line with expectations when [...]
Italy at heart of fresh Eurozone crisis fears October 28, 2011 Euphoria from this week’s Eurozone debt deal has evaporated after Italy’s latest bond auction as a lack of appetite for its ten-year bonds forced it to pay record yields to get the sale off the ground. In a sign of market scepticism that the Eurozone is safe from further debt problems, Italy had to sell [...]
FTSE extends rally after Eurozone deal October 28, 2011 THE FTSE 100 resumed its rally in early trading but gains were modest compared with yesterday when the Eurozone’s debt plan breathed new life into flagging global markets. World stocks headed for their best week in over two years bolstered by EU leaders’ efforts to contain the Eurozone debt crisis by increasing the bailout fund [...]
LONDONERS’ CHARM IS A SERVICE FOR WEALTHY October 27, 2011 WHERE THE wealth lies and, more importantly, how to persuade customers to part with it was the theme of the Wealth Summit run by monthly magazine Luxury Briefing in association with City A.M. Master of ceremonies was James Reatchlous, who bought Luxury Briefing from Princess Alexandra’s son James Ogilvy in 2009 before expanding into spin-offs [...]
Euro exuberance pushes the FTSE near three-month high October 27, 2011 BRITAIN’S top share index jumped to a near three-month high yesterday as bullish investors uncorked their champagne bottles and toasted Europe’s plan to tackle its debt crisis. The upbeat news from Europe boosted appetite for riskier assets such as banking and commodity stocks, which helped the UK’s benchmark index surge 160.58 points or 2.9 per [...]
Barclays to offer 90pc mortgages October 26, 2011 BARCLAYS launched a new bid to entice prospective house-buyers back to the market yesterday by offering no-fee mortgages needing only a ten per cent deposit. The bank has refused to offer 90 per cent loan-to-value mortgages since 2008 when it pulled them during the financial crisis, but is now following rivals such as NatWest and [...]