FTSE closes above 6,000 as traders pick miners and banks February 2, 2011 BANKS and miners pushed Britain’s top share index higher yesterday, lifted by further proof that the economic recovery in the United States is on track. The FTSE 100 index closed up 42.25 points, or 0.7 per cent, at 6000.07, extending Tuesday’s 1.6 per cent rise. The index has recovered from a sharp dip at the [...]
FTSE sticks above 6,000 after volatile day February 2, 2011 The FTSE’s mainstay miners and banks pushed the benchmark index to close just above 6,000 points – but profit taking and uncertainty over violent clashes in Egypt caused a turbulent day’s trading. The FTSE 100 closed up 42.25 points, or 0.7 per cent, at 6000.07, extending Tuesday’s 1.6 per cent rise. The index has recovered [...]
ANALYST VIEWS: IS BP SHOWING SIGNS OF RECOVERY? February 1, 2011 STUART JOYNER | INVESTEC The figures are below forecasts, with disappointment in refining and marketing in particular. The dividend is in line, though it has been set this low for political rather than business reasons. The deal with Rosnef has a long-term future, though the dispute has potential to rumble on. IVOR PETHER | ROYAL [...]
1,256 SAFE DAYS FOR ALL AT BP’S LONDON HQ February 1, 2011 FULL steam ahead for the BP safety train. Following The Capitalist’s story two weeks ago about how the oil giant has been beefing up ‘elf ’n’ safety procedures in stairwell use, a source has sent in this picture (see right). Yes, that’s right, a count-down (or count-up) calendar from BP’s London HQ boasting of how many “safe [...]
Property experts tip residential as a prime target for investment January 30, 2011 PROPERTY investors plan to cash in on the fragile parts of the residential market over the next 12 months, according to survey figures released today. Just 13 per cent of the 146 property professionals surveyed by Investec believe that residential property values will go up in the next year. Almost half (49 per cent) expect [...]
BRIT MODEL PUTS HER FACE TO BIG RACE DAY January 27, 2011 Investec has announced that British supermodel Erin O’Connor will become the official face of the Investec Derby Festival in June, one of the most iconic social and sporting events of the summer. Her selection marks the first time in the race’s history that the honour has not been given to a horse racing celebrity. While [...]
Second Bank voter joins call for interest rate rise January 26, 2011 FOR seven straight months Andrew Sentance stood alone in the Bank of England’s rate setting committee – the only member proposing an increase in the Bank’s lending rate. But this month Sentance convinced one of his colleagues to jump off the fence. “The surprise was not so much that someone joined Andrew Sentence, it was [...]
ANALYST VIEWS: WHAT DOES TODAY’S ANNOUNCEMENT MEAN FOR SAGE? January 26, 2011 JULIAN YATES | INVESTEC Today’s announcement adds very little to the investment case, positive or negative, for Sage. It describes trading for each region being in line with expectations, and net debt, at £187m, is also unsurprising. Although we see the potential upside as significant in the long term, we continue to view operational investment [...]
ANALYST VIEWS: SHOULD WE TAKE THE GDP FIGURE AT FACE VALUE? January 25, 2011 ANDREW GOODWIN | ERNST & YOUNG ITEM CLUB We find it difficult to believe the economy is really as weak as these figures suggest. This view quite simply does not square with what survey indicators are telling us. The ONS has little hard data to base this first release on, so we see the prospect [...]
Greencore to fight rival bid January 23, 2011 GREENCORE is expected to sweeten its merger deal with Northern Foods this week in an attempt to best Boparan’s £342m cash takeover offer. Dublin-based Greencore is considering adding a cash sweetener on top of its all-share merger with Northern, according to people familiar with the companies. Northern’s board has dropped its support for the Greencore [...]