Miners lead FTSE up after China boost October 24, 2011 Markets have risen this morning triggered by hopes that a deal to resolve the Eurozone debt crisis can be put together while manufacturing data showed China’s growth is picking up. Although a weekend summit of Eurozone leaders was inconclusive with bickering clouding the talks. The skeleton of a deal was agreed with a summit to [...]
CITY MOVES | WHO’S SWITCHING JOBS October 23, 2011 Little Chef The roadside chain has appointed Graham Sims as its new chairman. Sims is currently chief executive of Qunatilis, a non-executive board member at the UK Border Agency, and chairman of Kensington Consultancy Group. Earlier in his career, he spent seven years at BP, rising from operations manager for Portugal to UK retail managing [...]
Oil prices in a fierce tug of war October 23, 2011 DIFFERENT VIEWS ON WHETHER THE OIL PRICE IS GOING UP OR DOWN – CRAIG DRAKE IS UNSURE, LIOR ALKALAY IS BULLISH CRUDE prices fell last week on the assumption that the demise of Muammar Gaddafi would have the magical effect of freeing up oil supplies. Gaddafi’s welcome demise is hopefully a sign that Libya will [...]
FTSE steady as investors eye Eurozone crisis summit October 21, 2011 Banks and miners helped to give the FTSE 100 a lift in early trading as investors looked to a key weekend in the Eurozone for signs that the bloc’s debt crisis could be brought under control. Leaders are still sharply divided over how to strengthen a Eurozone rescue fund and meet on Sunday to once [...]
Merkozy fail to agree deal to save euro October 20, 2011 HOPES for a decisive breakthrough on a Eurozone rescue package at this Sunday’s summit collapsed as France and Germany failed to agree on the purpose of the European Financial Stability Fund (EFSF) yesterday. Officials said another summit might be held early next week to continue discussions on private sector involvement in a second Greek bailout, [...]
FTSE hit by fresh Eurozone discord October 20, 2011 BRITAIN’S leading share index was pulled lower by financials yesterday as political discord again hampered efforts to resolve the Eurozone debt crisis, leaving it on course to snap a three-week winning streak. News of stalled talks between France and Germany to forge a “comprehensive” plan to end the crisis ahead of a meeting of regional [...]
Eurozone wrangling sucks life out of markets October 20, 2011 European markets saw confidence ebb away this morning as continuing wrangling over the Eurozone bailout fund took its toll. Optimism had been growing that the weekend meeting of European Union leaders in Brussels would come up with a substantial plan for dealing with the debt crisis, primarily through ramping up the bloc’s bailout mechanism, the [...]
Bank offices raided over Euribor probe October 20, 2011 BANK offices in London and Europe were raided yesterday in a shock move by European authorities investigating whether the institutions fixed the region’s Euribor interbank lending rate. RBS and Deutsche Bank were among the major banks raided, according to informed sources, as offices in London and Paris were targeted by European Commission competition investigators. The [...]
Shares are flat as struggling Mouchel begins asset sell-off October 20, 2011 AILING outsourcing group Mouchel finally got its firesale of assets underway yesterday but the first deal will generate only £3.4m initially. It has agreed to sell its rail business and related assets to Australia’s Sinclair Knight Merz for cash and hopes to claw back a further £2.5m having retained certain assets, such as money owed [...]
Britain’s FTSE gets fillip from debt crisis hope and earnings October 19, 2011 BRITAIN’S leading share index closed higher yesterday, buoyed by financials on fresh speculation of a game-changing response to the Eurozone debt crisis at a weekend meeting of regional leaders. Forecast-beating earnings from the likes of spirits group Diageo also helped drive the move, although concerns about growth continued to come through in other results, for [...]