Orders from UK factories bounce back March 22, 2011 BRITAIN’S manufacturing sector received another boost yesterday, as a leading business survey revealed “above normal” orders for the first time in three years. Yet spiralling prices continue to haunt the industry, with firms expecting inflationary pressures to worsen in the coming months. Over a quarter – 26 per cent – of respondents said that orders [...]
ANALYST VIEWS: WHAT DO OFGEM’S PLANS MEAN FOR THE BIG SIX? March 21, 2011 KEITH BOWMAN | HARGREAVES LANSDOWN The awkward balance between shareholders, customers and required asset investments continues to generate stresses in the UK, which are being magnified by the rising oil price. While power companies provide attraction for investors consensus opinion is for now, broadly neutral. Emerging markets are also increasing demand. TINA COOK | CHARLES [...]
Growth forecasts to be cut March 20, 2011 BRITAIN’S projected rate of economic recovery will be downgraded by the government’s fiscal watchdog this week, analysts expect. In November the Office for Budget Responsibility (OBR) predicted 2.1 per cent growth for 2011 – considerably above most recent independent forecasts. “We suspect that the OBR will lower its shorter-term GDP projections,” commented Investec’s Philip Shaw. [...]
Libya ceasefire soothes markets March 18, 2011 A ceasefire by Colonel Gaddafi’s forces in Libya has helped energy companies and spurred the markets on to a positive close, with the FTSE 100 closing 0.4 per cent up at 5,718.13. Political news dominated the day as G7 governments pulled together to support Japan’s efforts to stabilise its currency the yen. Central banks intervened [...]
FTSE hits a three-month low as Japanese disaster deepens March 14, 2011 THE FTSE 100 share index hit a fresh three-month closing low yesterday, with some sectors seen vulnerable to further falls as the extent of the damage in Japan after the earthquake and tsunamis becomes clearer. Luxury goods firms such as Burberry Group and insurers including Aviva and Catlin Group were among the top fallers as [...]
Investec and Spurs in deal renewal talks March 10, 2011 TOTTENHAM’S Champions League run has so delighted Investec that the South African bank has already held informal talks with the club about extending their shirt sponsorship, just seven months into the contract. Investec agreed an innovative two-year deal thought to be worth £2.5m a season in August which sees its branding emblazoned on Spurs shirts [...]
Cash generation spooks investors March 10, 2011 THE UK saver is back saving. That was the view of analysts at Investec yesterday, after Standard Life reported a seven per cent rise in operating profits to £425m, according to IFRS standards. That was flattered by an unexpected £59m pension gain, but Investec saw significant positives, including big regulatory changes in the UK which [...]
Inchcape in profit rise as its sales rally March 8, 2011 GLOBAL car dealership Inchcape saw its profit jump by 38 per cent last year as emerging markets performed strongly. Profit before tax and one-off items was £214m, also helped by cost savings across the business. However, Inchcape warned that it expected pressure on gross profit margins this year due to the appreciation of the yen [...]
Weir profit soars on international growth March 8, 2011 ENGINEERING group Weir said yesterday it was confident on growth as it expects mining and oil and gas customers to continue to spend on valves and pumps, putting it ahead of schedule with a plan to double 2009 profits by 2014. Weir said growing demand for commodities in China was fuelling large mining projects and [...]
ECONOMISTS’ VIEWS: HOW LIKELY IS A RISE IN INTEREST RATES THIS WEEK? March 6, 2011 SCOTT CORFE | CEBR “Our central view is that the MPC will wait until April or May – when economic growth in Q1 2011 and the contents of the March Budget are known – before raising rates. The downward revision of GDP for the fourth quarter of 2010 strengthens the case for the MPC to [...]