MEET THE ADVISERS February 22, 2012 GERALDINE Murphy heads the oil & gas advisory team at Standard Chartered Bank and is leading the team advising Cove Energy. She joined the bank in 2007 following the acquisition of Harrison Lovegrove & Co and has over 20 years of oil and gas deal experience. Prior to joining Standard Chartered she was an executive [...]
Heathrow slims losses at BAA February 22, 2012 HEATHROW airport passenger numbers rose five per cent to a record 69.4m last year, helping BAA to narrow its losses. The airport operator made a loss of £255.8m in the year to 31 December, compared with £316.6m the year before. The firm’s revenues rose 10 per cent on last year to £2.28bn, the firm said [...]
China new export orders fall February 22, 2012 China’s new export orders shrank in February the most in eight months, a preliminary HSBC business survey shows, defying expectations of a pick up after Lunar New Year holidays and a worrying sign of the impact of the euro area debt crisis. Many analysts had expected some rebound in February after imports and exports fell [...]
THE TIPSTER AUSSIE DOLLAR TRADERS CAUGHT ON THE HOP February 21, 2012 THE Aussie dollar-Japanese yen pair remains a key measure of investor risk appetite and both sides of the currency pair have been in the news recently. Last week, the Bank of Japan surprised markets by announcing additional easing. This followed news of the country’s unexpectedly large fall in GDP. Traders were also caught on the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 20, 2012 FINANCIAL TIMES US CORPORATES SHY TO OFFER GUIDANCE US companies are more uncertain about the future than at any point since the financial crisis, with just one in five of the country’s biggest corporations making any predictions as they published fourth-quarter results. TRANSOCEAN WILL NOT PROPOSE A DIVIDEND Shares in Transocean, the owner of the [...]
Samsung shifts to new TV tech on LCD spin-off February 20, 2012 SOUTH Korea’s Samsung Electronics, the world’s biggest maker of televisions, officially marked a shift in its focus towards new generation OLED display technology, and said it will spin off its loss-making LCD flat-screen business into an affiliate. The announcement comes after weeks of speculation, with the outlook for liquid crystal display televisions grim as shoppers [...]
Concerns over Chinese slowdown after imports from Japan slump by a fifth February 20, 2012 JAPAN logged a record trade deficit with China in January as exports dropped by a fifth, underscoring concerns about how sharply China is slowing and its ability to buffer a frail global economy against European turmoil. The 20.1 per cent annual slump in exports to China, Japan’s main export market, condemned Tokyo to a record [...]
China’s monetary easing puts FTSE close to the 6,000 level February 20, 2012 A SURPRISE easing in China’s monetary policy drove Britain’s FTSE 100 within striking distance of a seven and a half month closing high as miners rallied on the prospect of revived demand from the world’s most voracious consumer of raw materials. Miners were the top gainers as London’s blue chip index climbed 40.18 points, or [...]
NEAR-TERM EURO-DOLLAR RISKS MAY LIE TO UPSIDE February 20, 2012 FX 360 Despite every possible effort by the shorts, euro-dollar refuses to go down. Over the past four weeks the pair has traded in a narrow $1.3000-$1.3300 range, rebounding every time it has broached the key $1.3000 level. One reason for this remarkable resilience is the persistent skew in positioning. After a few weeks of [...]
THE TIPSTER TRADERS HOPING TO BOOK SUITE OF PROFITS February 20, 2012 RESULTS last week from Intercontinental Hotels pointed to a resurgence in bookings outside of the beleaguered Eurozone, so investors in Millenium & Copthorne will be hoping that the company can replicate its larger peer’s success in areas such as China and the US. The operations in these areas should benefit from continuing economic growth, so [...]