GLIMMERS OF HOPE WITHIN THE UK’S SLUGGISH RECOVERY March 17, 2010 IT seems that every week the UK economy clocks up more evidence of its disappointing recovery from the recession. The spectre of a hung parliament and a mountainous fiscal deficit is only adding to the image of the UK as the sick man of Europe. And the UK does indeed look sick. It can’t even [...]
CITY MOVES | WHO’S SWITCHING JOBS March 17, 2010 CB Richard Ellis Jonathan De Mello is to join the property group as head of its retail consultancy team, effective from April. De Mello is one of the most respected analysts in the retail sector and joins from the Experian Property Consultancy. His consultancy clients have included the likes of Blackstone Private Equity, Henderson Global [...]
Banks and commodities gain strength after S&P reassures on Greek debt March 16, 2010 BRITAIN’S top shares gained 0.5 per cent yesterday lifted by strength in banks and commodity issues after reassuring news on Greece’s debt situation and as investors awaited the outcome of a US Federal Reserve meeting. At the close, the FTSE 100 was 26.58 points higher at 5,620.43, having closed 0.6 per cent lower on Monday. [...]
BEST OF THE BROKERS March 16, 2010 UBS JP Morgan reiterates it’s “overweight” stance on UBS. It highlights strong trading during the first half of January due to a significant pent up of demand from December with prearranged trades from clients. Together with a market correction for the second half, it believes UBS is in a strong position compared to rivals. ALLIED [...]
British banks facing further disappointments on revenues March 15, 2010 UK banks will likely see more revenue disappointment before rebuilding their profitability, Seymour Pierce said yesterday, adding that consensus expectations for banking income growth were far too optimistic. The brokerage said it was on average 10 per cent below consensus revenue expectations for 2012 for the sector, with the greatest disappointment likely at Royal Bank [...]
DTZ on target as hopes of a recovery rise March 15, 2010 PROPERTY broker DTZ Holdings yesterday said it remains on target to meet market expectations for its full year results, anticipating £70m of cost savings for the period. Boosting hopes of recovery in the sector, DTZ reported better levels of activity in its key markets of London and Paris and increased activity in the investment and [...]
CITY MOVES | WHO’S SWITCHING JOBS March 15, 2010 Universal Music Max Hole has been promoted to the position of chief operating officer at Universal Music Group International (UMGI). Hole, who will take up his new role on 1 July, is currently executive vice president of UMGI and president of the group’s Asia Pacific operations. He joined the firm in 1998 from Warner Music [...]
FTSE slips on caution over banking stocks and falling commodity prices March 15, 2010 FALLING commodity prices dented miners and energy stocks and banks fell, pushing Britain’s top share index 0.6 per cent lower yesterday, with investors cautious before central bank policy meetings later in the week. The FTSE 100 index ended 31.80 down points at 5,593.85, having risen 0.5 per cent last week. Miners, sensitive to shifts in [...]
THE TIPSTER March 15, 2010 AFTER hitting 29-year highs at the start of February, global raw sugar prices have since tumbled as supply in Brazil and India was stronger than expected. Prices have now fallen below 20 cents per pound, after hitting highs of 30.40 cents per pound back in February. Can the fall in prices continue? Spreadex has a [...]
Acquisitions are back on the agenda this year March 14, 2010 M&A teams in investment banks all over London must be salivating at the prospect of a wave of new deals. Acquisitions are back on the agenda. In many ways it makes sense. Last year many companies re-trenched, rebuilt their balance sheets and hoped for the best. They have been hoarding cash but now wonder if [...]