New Year boom sees FTSE lifted over the 6,000 mark January 4, 2011 BRITAIN’S top shares rose sharply yesterday, the first session of 2011, lifted back above the key 6,000 level by heavyweight oil stocks and banks, as solid economic data prompted a return of investor risk appetite. Fresnillo, the Mexican silver miner, jumped 85p to £17.53 on revived talk that billionaire Carlos Slim might be taking a [...]
Snow blamed for German jobs drop January 4, 2011 German unemployment edged up very slightly last month, rising by 3,000 on November. Unemployment had fallen in November and October, as the German recovery continued to build up pace. And employment reached almost 40.5m in November, according to ILO statistics. Economists had expected a further fall in unemployment for December. “The monthly rise in unemployment [...]
FTSE hits 31-month high on first close of 2011 January 4, 2011 LONDON saw a storming start to 2011 as the FTSE moved above the 6,000 level in the year’s first trading session to close at a 31-month high. The FTSE 100 moved up 1.9 per cent or 113.93 points to close at 6,013.87, its highest level since June 2008, buoyed by rises on US and European [...]
Rebound in US factory output boosts outlook January 3, 2011 AMERICAN manufacturing activity jumped to a six-month high in December, after a decline in growth the previous month, it was revealed yesterday. New orders in the sector hit a seven-month high of 60.9, according to the ISM manufacturing index. The headline index figure reached 57, up from 56.6 in November. The results bode well for [...]
The broker who says small firms have to come up with big solutions January 3, 2011 The conventional wisdom is that it is next to impossible for small firms to raise cash, but Phil Adams, chief executive at independent investment broker Altium, says that the picture is more complicated than that. “It is pretty straightforward to raise cash if you are a well-run high-growth firm expanding by around 15 per cent [...]
CITY MOVES | WHO’S SWITCHING JOBS January 3, 2011 Barclays Corporate Ian Gilmartin has been promoted to Barclays Corporate’s retail and wholesale team as corporate director. He was formerly head of marketing services in the tech and media sector. In his new job, he will be working with Richard Lowe, head of the retail division, and will be adding to his 16 years’ experience [...]
World stocks hit two-year high December 23, 2010 World stocks hit their highest level since September 2008 while oil held near a two-year peak as favourable US data reinforced expectations economic growth will retain momentum into next year. Wednesday’s upwardly revised data showing the US economy expanded at 2.6 per cent in the third quarter, coupled with recent retail sales figures, pointed to [...]
There’s plenty of change in our Power Hundred December 21, 2010 INTRODUCING our City A.M./CityJet Power Hundred list for 2011 one is struck by the number of new entrants – 43 in all. Admittedly the last list was put together a couple of years ago, but there really have been dramatic changes since then. The biggest difference is the political landscape. Gone are the big beasts [...]
Barclays chief: Inflation is good December 21, 2010 Incoming Barclays chief executive Bob Diamond told Sky News “a whiff of inflation would be good news for the economy,” yesterday. Inflation rose to 3.3 per cent last month, and inflation expectations have jumped to 3.9 per cent. And 61 per cent of people think rising prices will weaken the economy. “Inflation erodes the value of [...]
Lib Dems gear up for a bumpy ride with Cable on the ropes December 21, 2010 EVEN as the story of business secretary Vince Cable’s indiscretions broke late on Monday, campaigners linked with the the office of Liberal Democrat deputy leader Simon Hughes were frantically sending out press releases. Surely an example of an impressive scale-up of the famously scatty Lib Dem media operation? Er, not quite. “Don’t use King’s Stairs [...]