Why Goldman Sachs is doing so well July 14, 2009 SO Meredith Whitney was right. The high-profile Wall Street analyst upgraded her advice to potential Goldman Sachs investors from “neutral” to a “buy” – and the investment bank, whose European operations are based in Fleet Street, responded with a hugely positive set of numbers. Net profit for the three months to June hit $3.4bn from [...]
Miners, banks and oil groups emerge as stars of the index July 14, 2009 LONDON’S top share index closed up 0.9 per cent yesterday, led by miners, banks and oil producers as impressive corporate data from the United States outweighed mixed economic figures. The FTSE ended 35.55 points higher at 4,237.68, extending Monday’s 1.8 per cent gains. The index has risen more than 23 per cent since hitting a [...]
Commodities and financials emerge as stars of the index July 13, 2009 THE FTSE 100 closed 1.8 per cent higher yesterday, boosted by stronger energy and mining stocks, while financial shares also provided support to the market which had fallen in five of last eight sessions. The index ended 74.96 points higher at 4,202.13, after falling 0.8 per cent on Friday to its lowest close since 28 [...]
It’s time to start re-thinking your attitude to trading the oil market July 12, 2009 WHAT a difference a year makes. With crude oil sinking below $60 a barrel on Friday for the first time since mid-May, it seems incredible that it was only 12 months ago that oil hit a record high of $147 a barrel, fuelling speculation among industry players that it could reach $250. Oil prices had [...]
THE TIPSTER NEW SHARES PLACING LIFTS SAINSBURY’S July 12, 2009 SUPERMARKET chain Sainsbury’s had been doing well in the first months of 2009 despite consumers tightening their belts, and its share price reached a high of 347.25p in the middle of May. But its share price then slipped to around 309p and the stock has been trading broadly sideways since then. However, the announcement of [...]
BARCLAYS EYES MORE SELL-OFFS July 12, 2009 BARCLAYS is edging closer to a sale of its private equity business, just weeks after it offloaded its fund management unit Barclays Global Investors (BGI) to BlackRock. The bank – widely seen as one of the big winners from the credit crunch – will meet with investors in Barclays Private Equity (BPE) this week to [...]
Philanthropists are becoming younger July 12, 2009 PHILANTHROPISTS are younger, more generous, and more ambitious – despite the downturn, a report from Barclays Wealth will say today. “Tomorrow’s philanthropist” has a stronger commitment to charity than previous generations, the survey will say, as they feel more responsibility to give generously, despite the impact of the worldwide slump. Three quarters of the 500 [...]
Green in front at Loch Lomond July 9, 2009 GOLF: Australian left-hander Richard Green fired a seven-under-par 64 to take a one-shot lead into the second round of the Barclays Scottish Open at Loch Lomond. Four players; home favourite Martin Laird, Irishman Paul McGinley, England’s Graeme Storm and Gonzalo Fernandez-Castano, of Spain, trail Green by a shot with another Australian, Adam Scott, a further [...]
Man boosted by private investor sales July 9, 2009 MAN Group, the world’s largest publicly traded hedge fund, said yesterday funds under management fell over the first quarter of the year, but investors were buoyed by a surge in private investor sales and better-than-expected levels of redemptions. The group reported a 7.5 per cent drop in funds under management over the period, from $46.8bn [...]
First gains of the week as Alcoa boosts the markets July 9, 2009 THE FTSE 100 closed 0.5 per cent higher yesterday, ending a three-day losing streak on the back of gains in miners after reassuring earnings from Alcoa. The index closed 18.43 points firmer at 4,158.66, having fallen 1.1 per cent the previous session to its lowest closing level in more than two months. However trading was [...]