FTSE up despite Europe summit concerns December 9, 2011 The UK’s top share index has closed higher as investors took the positives from the agreements at the European summit. Talk of potential Chinese investment in Europe and improving economic data in the US also lifted sentiment. While not the emphatic solution to the Eurozone’s two-year old debt crisis some had hoped for, EU countries [...]
BEST OF THE BROKERS December 8, 2011 ANTOFAGASTA Nomura rates the miner a “buy” with a £16.50 target price as it sees the firm as a high-quality, long-life, low-cost copper pure-play. Its flagship operation, Los Pelambres, has relatively low costs and could double capacity by 2020, while its Esperanza copper-gold project could be expanded by 2016 to nearly triple production. Its Chile-focused [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 7, 2011 FINANCIAL TIMES DUBLIN IS URGED TO SELL NAMA AS A SINGLE ENTITY A secret report into the operations of Ireland’s National Asset Management Agency, the state agency set up to purge Irish banks of their toxic property loans, has recommended that the government should consider selling it off as a single entity. FINANCING PROBLEMS WEIGH [...]
Saab hovers on brink without GM support December 6, 2011 GENERAL Motors said yesterday it would not support a proposed ownership structure for Saab that included a Chinese bank, moving the Swedish auto company closer to liquidation. “We have reviewed Saab’s proposed changes regarding the sale of the company,” GM spokesman James Cain said in a statement. “Nothing in the proposal changes GM’s position. We [...]
Geeley drives into the UK December 6, 2011 CHINESE automotive manufacturer Geely is set to enter the UK new car market next year, with its first models’ prices starting at around £10,000. Geely International Corporation, which also owns Volvo, is working with the UK’s Manganese Bronze Holdings (MBH) to set up dealerships, parts sales and after-sales service under the name Geely Auto UK. [...]
FTSE hits a five-week high on hope of a euro debt plan December 5, 2011 BRITAIN’S FTSE 100 hit a five-week closing high yesterday with optimism rising that politicians can finally agree a deal to solve its debt crisis in a crunch week for the Eurozone. European Union leaders, urged on anxiously by the United States, are seeking agreement on a convincing rescue plan that has eluded them for two [...]
A CHANGE OF FORTUNES FOR RISK ASSETS December 5, 2011 WHAT a turnaround last week. We saw an extraordinary rally in equity markets which saw them recoup the losses from the sell-off that had persisted through much of November. Personally, I believed that the major stock indices were on the point of a major break to the downside which would only be averted by a [...]
THE WEEK AHEAD December 4, 2011 COMPANY NEWS ● TUI Travel announces its preliminary results for the year today. The company is an international leisure travel agency that operates aircraft and retail outlets and services the European and North American markets. ● Northgate will announce its interim results tomorrow. A vehicle rental business, Northgate hopes the first half of its financial [...]
Mild autumn boosts profit at Kingfisher December 1, 2011 KINGFISHER posted better-than-expected third quarter profits yesterday, after the unseasonally mild autumn weather helped boost sales at the retailer’s stores in the UK and France. Europe’s biggest DIY company, which runs over 800 stores across the continent, posted a 13.9 per cent rise in operating profit to £273m in the the 13 weeks to 29 [...]
Norsk warns over demand in aluminium December 1, 2011 NORSK Hydro warned that it sees growth in global aluminium demand slowing next year as a result of economic turbulence that is creating a weak market and pushing many industry players into the red. Hydro, one of the world’s top aluminium producers, said it saw demand for primary aluminium outside China rising between three and [...]