Second GDP estimate sees UK growth confirmed at 0.8pc as business investment leaps May 22, 2014 A second estimate of first quarter GDP growth confirms that UK GDP grew at 0.8 per cent in the first three months of this year. The Office for National Statistics' first estimate of growth was based entirely on the output side of the economy. This second release incorporates what’s going on on the expenditure side. [...]
The stiff competition facing Royal Mail May 21, 2014 Ahead of its first set of full-year results as a listed company tomorrow, Royal Mail’s announced it’s going to trial delivering parcels on Sundays. Later this summer, it’ll open about 100 offices on Sunday afternoons for customers to pick up parcels. It’ll also pilot delivering parcels within the M25; and from June, Parcelforce Worldwide, its [...]
Retail sales rebound to fastest growth in a decade on strong Easter shopping May 21, 2014 Retail sales growth has shot up on the back of strong Easter trading. According to official estimates, retail sales were 6.9 per cent higher in the year to April, up from last's month reading of 4.2 per cent growth. That's the strongest growth in sales seen since almost 10 years ago, in May 2004. Consensus [...]
HSBC among big banks facing EU fixing charges May 20, 2014 THE EUROPEAN Commission levelled charges of market manipulation against three banks yesterday, alleging that the groups acted to rig a major inter-bank lending rate. HSBC, JP Morgan and Credit Agricole were named by the Commission, which said in a statement it believes that the banks were involved in fixing Euribor. The institutions held out last [...]
Investment Comment: How to invest in markets that are now hitting all-time highs May 20, 2014 The UK and US are consistently beating growth expectations – but sensible investors should proceed with caution THE GOOD news? The UK economy is recovering very well, consistently beating growth expectations. We’re seeing increasing levels of merger and acquisition activity, while the FTSE 100, S&P 500 and Dow Jones indices have all been at, or [...]
Asia Resource scraps delisting plan May 19, 2014 Asia Resource Minerals, the coal miner formerly known as Bumi, yesterday abandoned a proposed delisting from the London Stock Exchange, because the plan lacked shareholder support. Instead the company will return $465m (£276m) to investors via a share scheme. “Investors have waited a long time for some good news with this stock and we are [...]
British pharma outfit to be spun out on the London stock market May 19, 2014 US PHARMA company Alere yesterday announced plans to float its UK medical testing subsidiary BBI Diagnostics on the London stock market next month. New York listed Alere, which makes medical products that test for various diseases, will sell about 25 per cent of the company to institutional investors in the sale. BBI, which made about [...]
Analyst Views: What did you make of Mitie’s full-year results? May 19, 2014 CAROLINE DE LA SOUJEOLE | CANTOR FITZGERALD The headline numbers were broadly in-line with expectations but exceptional items are significantly higher than anticipated which raises questions over the quality of earnings. The shape of the group has changed significantly in recent years, and the business is now operating in more attractive markets. JOE BRENT | [...]
WANdisco prepares for US push May 19, 2014 WANdisco, the Sheffield-based firm that specialises in online collaboration software and big data products for businesses, yesterday changed its nominated adviser to Investec, just six months after it appointed UBS to the role, as the firm said it looks to continue to strengthen its US presence. WANdisco said it will retain former nominated adviser UBS [...]
London Report: Royal Mail set to deliver first annual results May 18, 2014 YEARLY results for Royal Mail this week are likely to inflame anger over the company’s issue price, as analysts expect a significant profit leap. JP Morgan said recently it “remains bullish” and set a target price of 756p a share – a huge jump from the 330p offer price. In economic news, the Bank of [...]