What you need to know before the open April 16, 2014 European bourses are expected to open higher today. After a very choppy day yesterday, US markets closed up, despite Russian claims that Ukraine’s “close to civil war”. Weak GDP data from China – growth slowed to 7.4 per cent in the first quarter – could add jitters to markets, though, but there's also UK unemployment [...]
London Report: Cheer for UK as real pay up and inflation falling April 14, 2014 BRITAIN’S economy is set to put the recession firmly behind this week with news of the first real wage growth in four years and falling unemployment. Inflation and unemployment data are expected to show wage growth in March beating inflation. Capital Economics’ Paul Hollingsworth said: “The latest earnings data should show that the squeeze on [...]
Best of the Brokers for 03 April 2014 April 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO HSBC cut its price target for the supermarket from 300p to 260p due to the structural changes in the sector and the need for Tesco for take decisive action such as investing its margin before it’s eroded. The broker cut its earnings [...]
What the other papers say this morning – 01 April 2014 March 31, 2014 FINANCIAL TIMES US overseas cash pile rises to $947bn American companies have stockpiled nearly a trillion dollars of cash offshore to avoid paying higher tax bills at home, according to an analysis released yesterday. The growing overseas cash pile has also become the most visible sign of corporate America’s unwillingness to place bigger bets on [...]
London Report: FTSE nudges down to near month-long low after banks fall March 11, 2014 THE UK’S top equity index steadied yesterday after hitting a three-week low, with some investors seeing value in beaten-down stocks, although the market remained vulnerable to further declines in the near term. The blue-chip FTSE 100 index closed 0.06 per cent lower at 6,685.52 points after falling to 6,660.59, its lowest since the middle of [...]
Reckitt shares slide up after K-Y acquisition March 10, 2014 RECKITT Benckiser, the consumer conglomerate behind Nurofen painkiller and Durex condoms, has expanded into lubricants after buying the global rights to K-Y from Johnson & Johnson yesterday. Shares in the firm defied a tumbling FTSE 100 yesterday to close up 0.3 per cent. Reckitt, which did not disclose the price of the deal, said K-Y [...]
Reckitt Benckiser shares rise after K-Y deal March 10, 2014 Shares in consumer goods group Reckitt Benckiser are up 0.04 per cent this morning. Earlier in the day, the company announced that it would be acquiring the global rights to the K-Y brand of intimate lubricants from Johnson & Johnson for an undisclosed amount. In 2013, K-Y had net sales greater than $100m. The products [...]
London Report: FTSE pauses for breath as sharp rally peters out February 19, 2014 THE UK’S top shares steadied yesterday as analysts bet the strong rally that followed a slump in emerging markets has run out of steam, though Sports Direct gained on robust profits. The FTSE 100 closed up 0.28 points – flat in percentage terms – at 6,796.71 points. It hit 6,810.48, its highest since late January, [...]
Reckitt brings in drugs chairman February 12, 2014 CONSUMER goods giant Reckitt Benckiser has hired a chairman for its troubled pharmaceuticals arm and to help with its strategic review as the company posted a rise in fourth quarter sales. The company said yesterday it has brought in Howard Pien, a US-based pharmaceutical adviser, to chair its RBP unit, in what analysts said was [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]