Markets dragged down by weak banks November 18, 2011 The FTSE 100 edged lower today as the ongoing crisis with Eurozone debt continued to sap investor confidence, particularly in banks. Across Europe markets slumped, with the FTSEurofirst 300 index of top European shares down 0.7 per cent in early trading. It is on course to fall more than three per cent over the week, [...]
FTSE hit by soaring bank yields November 17, 2011 The FTSE 100 fell in early trading today as yields on a Spanish bond auction soared to almost seven per cent – a level considered unsustainable by economists. A warning from ratings agency Fitch that the outlook for US banks could deteriorate if the Eurozone sovereign debt crisis is not resolved also took its toll. [...]
Amlin’s NZ quake bill $83m more than expected November 17, 2011 Amlin, the biggest Lloyd’s of London insurer by market value, has reported higher prices across its main markets and said earthquakes in Japan and New Zealand this year could cost it $83m more than previously thought. Amlin, which issued a profit warning in August due to bigger than expected catastrophe claims, said prices rose by [...]
FTSE falls as Eurozone fear factor hits banks November 15, 2011 The FTSE edged down this morning, mirroring weaknesses in Asia, as rises in bond yields in Spain and Italy heaped more pressure on markets. Italy sold three billion euros of five-year bonds at 6.29 per cent yesterday – a euro-era record. The country’s 10-year bond yields rose to 6.76 per cent, also pushing Spanish 10-year [...]
FTSE falls as Italian bond yields take toll November 14, 2011 European markets were jittery as investors watched a radical overhaul of the political hierarchies in Italy and Greece aimed at ushering in a new economic dawn in the Eurozone. Italy’s president asked former European commissioner Mario Monti on Sunday to form a government, while Greece’s new Prime Minister Lucas Papademos, a former central banker who [...]
London’s business growth slows to a 14 month low November 13, 2011 GROWTH in London’s business activity has plummeted to near-stagnation, according to the latest purchasing managers’ index (PMI) from Lloyds TSB and Markit. The index fell from a reading of 54.4 in September to a 14-month low of 50.4 last month, the survey showed. Scores of above 50 indicate some economic expansion. “Behind the overall slowdown [...]
FTSE in modest gains as Italy and Greece fight to win back market credibility November 11, 2011 Banks led modest FTSE 100 gains in early trading as Greece and Italy fought to convince investors that they could fight back from the economic abyss. Italy, the latest Eurozone nation to come under pressure in the bond market, moved closer to a national unity government, while its treasury managed to sell one-year bills at [...]
MURDOCH NO-SHOW AT GRANDEES GATHERING November 10, 2011 THE SELECT Committee hearing into the News of the World phone hacking scandal took precedence over RLM Finsbury’s annual party for News Corp heir James Murdoch, a guest at the event in previous, happier, times. But the day’s invigilator, John Whittingdale MP, did make it after the day’s ordeal to the Millbank venue, where a [...]
Markets choppy on Eurozone fears November 10, 2011 The FTSE 100 opened down today as Italy’s deepening debt crisis threatened to topple the Eurozone and plunge the world economy into uncharted waters. The cost of borrowing on Italian government bonds jumped to seven per cent yesterday — a level considered unsustainable by economists. Italy today launches an auction of as much as €5bn [...]
HOW WORRIED ARE YOU ABOUT THE EUROZONE CRISIS AFFECTING PEOPLE IN THE UK? November 9, 2011 MARCUS SVEDBERG | EAST CAPITAL “I am quite concerned, but I think when standing at the cliff policy makers will make the right decision. But I think it will get worse before it gets better.” TED PIKE | LLOYD’S OF LONDON “I understand it is cause for concern, but as we aren’t in the Eurozone [...]