Paris show takes off June 15, 2009 ROLLS-ROYCE announced a bumper $2.1bn (£1.35bn) order deal for its engines at the Paris Air Show yesterday, defying the gloomy mood surrounding the biennial event. The company said its engines will power planes belonging to Middle East carriers Gulf Air and Qatar Airlines, as well as Germany’s Condor, and Royal China. But bleak sentiment has [...]
BEST OF THE BROKERS June 15, 2009 WORKSPACE GROUPPanmure Gordon upgraded its 2010 estimated dividend per share and net asset value for Workspace Group. The broker was encouraged by Workspace’s final results and feels it is de-risked following its rights issue, debt restructuring and ongoing disposal programme. The analysts rate the stock as a “buy” with a target of 20p. BRITISH AIRWAYSBA’s [...]
Upbeat view at JPMorgan June 15, 2009 THE dramatic recovery in risk appetite should mean more mergers and capital raisings, and a wave of flotations later this year, according to senior European investment bankers at JPMorgan. However, JPMorgan also said its investment banking rivals, like investors, were again getting a taste for danger, echoing the “foolishness and foolhardiness” in the years leading [...]
Metals lose their shine and oil slips on the strong dollar June 15, 2009 LOWER commodities stocks and the firm dollar took the FTSE 100 lower yesterday, losing 2.6 per cent, or 115.94 points, to close at 4,326.01. Volumes were about 76 per cent of its 90-day average daily volume, but the index has risen 25 percent since hitting a six-year low on 9 March. “The fundamentals of the [...]
Larry Fink’s BlackRock is here to stay June 14, 2009 ANALYSIS: THE WORLD’S LARGEST ASSET MANAGER WILL BE A MAJOR PLAYER IN LONDONBLACKROCK’S acquisition of Barclays Global Investors (BGI) will see it become the world’s largest asset manager with $2.89 trillion (£1.75 trillion) under management, more than twice the funds run by number-two group State Street. The new firm, BlackRock Global Investors, will be one [...]
UK investors prove least likely to shy from taking risks June 14, 2009 INVESTORS in the UK are significantly more likely to increase the level of risk in their portfolios than their foreign counterparts, a new survey has shown. Among British investors, 37 per cent said they were likely to increase the level of risk in their portfolios in the next 12 months, according to the report by [...]
Picking profitable sectors is a new game, post-crunch June 14, 2009 BRITAIN is on the verge of economic recovery we heard last week, and investors’ confidence was boosted by improving data. The stock markets have been taking their cue from economics over recent weeks and further signs confirming a recovery could help lift the FTSE 100 above the current 4,500 resistance level that has proved somewhat [...]
THE TIPSTER June 14, 2009 AGGRESSIVE DISCOUNTING TO LIFT TESCOTHERE were rumours flying around the markets last week of a profit warning by Carrefour – the world’s second largest supermarket – but this side of the Channel, things in the grocery market are looking a lot rosier. Morrisons has been doing well, as has Sainsbury’s. But size does seem to [...]
BlackRock on verge of BGI deal June 11, 2009 MONEY manager BlackRock’s $13bn (£7.8bn) bid to take over Barclays Global Investors (BGI) could be wrapped up as early as today, with advisers working around the clock to put the final seal on the tie-up. The US firm will swallow BGI in a cash-plus-shares deal, giving Barclays a 20 per cent stake in what will [...]
Odey and GLG among hedge fund winners June 10, 2009 WINNERS are emerging from the hedge fund sector’s dramatic comeback in May, with groups like Odey and GLG now trumpeting net gains as high as 35 per cent this year so far. Hedge fund managers are saying investments in banks and emerging markets paid off last month, while recent research claimed May saw the vehicles [...]