International Power leading the way for defensive stocks August 11, 2009 THE LARGE cap index shed 1.1 per cent yesterday, knocked by weakness in heavyweight banks, miners, and oils, but defensive stocks were back in favour once again. The FTSE 100 was 50.86 points lower at 4,671.34 by the close of the session, weakening for a second day after hitting a 10-month closing high of 4,731.56 [...]
Rally ends as weak miners nudge FTSE down slightly August 10, 2009 THE FTSE 100 edged down yesterday, with investors booking profits from hefty gains in miners and banks last week, while the market searched for direction as the earnings season tailed off. The index ended down 0.2 per cent, or 9.36 points at 4,722.20, not far from a 10-month closing high of 4,731.56 on Friday. A [...]
Investor optimism won’t last forever August 9, 2009 EVEN after a rally lasting 11 consecutive days, the FTSE 100 still managed to push higher last week, closing up 2.48 per cent on the week. And where the FTSE has gone, other indices have followed. The S&P 500 broke temporarily through the 1,000 mark at the end of last week while the Dow Jones [...]
BRUNSWICK CAUSES A STIR WITH PUBLIC AFFAIRS ROLE IN BRUSSELS August 6, 2009 A COUP for City PR outfit Brunswick, which is on the cusp of a lucrative new contract to advise HSBC on its public policy over in Brussels. Brunswick boss Alan Parker has long been chummy with HSBC chairman Stephen Green, so the tie-up shouldn’t come as too much of a surprise. But though some in [...]
BARCLAYS TO SOOTHE STAFF August 6, 2009 BARCLAYS said yesterday that it would sweeten its pension arrangements to placate irate staff angered by the closure of the firm’s final salary pension scheme. Staff gathered outside the bank’s extraordinary general meeting to protest against the scrapping of the plan, which has a £3.5bn deficit. But chairman Marcus Agius said the bank was considering [...]
Barclays wins investors round over sale of BGI to BlackRock August 6, 2009 BARCLAYS chairman Marcus Agius yesterday defended the sale of Barclays Global Investors, as some shareholders accused the bank of “selling the family silver”. Agius said the sale, worth $14.2bn (£8.5bn), would “allow shareholders to participate in and enjoy a relationship with the global leader in the industry”. One shareholder asked why the bank was selling [...]
ETF investment at record high August 6, 2009 The tentative recovery in the stock market and continued strong demand for passive investment have driven the value of assets invested globally in exchange traded funds (ETFs) to a record high of $862bn (£513bn). Data from Barclays Global Investors shows that investors have flocked back to ETFs, with the value of assets to reach $1 [...]
Bank decision boosts market as the bankwagon rolls on August 6, 2009 THE LARGE-CAP index closed higher yesterday, driven by strength from banks after the Bank of England (BoE) surprised markets by expanding its quantitive easing plan to £175bn. The FTSE 100 closed 43.40 points higher, or 0.9 per cent, at 4,690.53, after hitting a fresh 2009 intraday high of 4,729.58 following the BoE announcement. The BoE [...]
A PRODUCT WHATEVER YOUR VIEW August 5, 2009 ALEXANDRE HOUPERTHEAD OF LISTED PRODUCTS UK, SG CORPORATE & INVESTMENT BANKING WHEN markets are choppy, clever traders look for new ways to diversify their tactics. One of the great things about covered warrants is their adaptability, which makes them a good addition to your trading armoury right now. For example, there are plenty of new [...]
THE LONDON REPORT August 5, 2009 The FTSE 100 closed down 0.5 per cent yesterday, after weaker than expected economic data in the US dragged equities lower, with oil producers and miners leading the losers. The index ended 24.24 points lower at 4,647.13, shy of Monday’s close when it hit its best closing level since the collapse of Lehman Brothers late [...]