WHAT THE OTHER PAPERS SAY THIS MORNING December 15, 2010 FINANCIAL TIMES SIENNA MILLER CLAIMS REIGNITE HACKING ROW Lawyers representing the actress Sienna Miller have alleged that a senior executive at the News of the World ordered a private detective to hack into her mobile phone voicemail account, reigniting a controversy over journalistic practices at the tabloid Sunday newspaper. GOLDMAN’S SZE TO LEAVE FOR HEDGE [...]
Factory boost for America’s slow recovery December 15, 2010 BROAD based rises in consumer prices and manufacturing were warmly received in the US yesterday, following the Federal Reserve’s final meeting of the year on Tuesday. Positive industrial production figures offer hope for the American economy as it stutters towards recovery. Overall production rose 0.4 per cent in November, despite a huge drop in automobile [...]
DTZ narrows losses to £6m December 15, 2010 REAL estate consultant DTZ said yesterday its first half loss narrowed on a strong performance in Asia, as it retained a cautious outlook due to market uncertainty in the UK and Europe. The company yesterday posted a pre-tax loss of £6m for the six months to 31 October, compared to a loss of £20.6m in [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]
Look closer to home to play the emerging markets’ story December 15, 2010 EMERGING markets have been one of the most popular trades of 2010. If it wasn’t concerns about the outlook for developed markets and the desire for higher returns further afield, it was Fed-fuelled liquidity that was driving flows towards the developing economies. The case for investing in equities rather than bonds is becoming stronger by [...]
THE TIPSTER December 15, 2010 NOW that the Chinese inflation figures are out and the People’s Bank of China has once again refused to raise rates, fears that European commodity stocks might suffer on the back of slower Chinese growth have subsided slightly. This might offer an opportunity for the likes of gold miner Randgold Resources to bounce off the [...]
Euro worries push banks down, leave FTSE flat December 15, 2010 THE FTSE tipped up to 5897 briefly this afternoon but sank again to close flat at 5882, dogged by Eurozone worries and poor performances by the banks. Barclays was the top FTSE100 faller, down 3.7 per cent as worries resurfaced over European sovereign debt, caused by Moody’s announcement that it was reviewing Spain’s credit rating, [...]
BEST OF THE BROKERS December 14, 2010 BARCLAYS BANK Deutsche Bank rates the bank “buy” with a target price of 372p. The researchers see potential for a restructuring programme under new management, or at least a stripping out of undervalued capital. However, the broker has cut its target price from 395p and earnings per share estimates by four to six per cent [...]
Looking ahead to 2011: some likely winners and laggards December 14, 2010 FROM sovereign debt crises threatening the very future of the euro to currency wars and more quantitative easing, 2010 has been an eventful year in the foreign exchange markets. Currency traders will be pleased to hear that volatility, which has been so characteristic of the FX markets since the crisis, is unlikely to disappear any [...]
City warns over rights issue rip off December 13, 2010 INVESTMENT banks have been slammed by the City’s top institutional investors for charging unfairly high fees to companies raising capital through rights issues. An inquiry commissioned by the Institutional Investor Council, backed by the Association of British Insurers and the National Association of Pension Funds, lashes out at investment banks today for charging underwriting fees [...]