London Report: Solid corporate earnings push FTSE near highs April 29, 2014 THE UK’S blue chip share index hit a seven and a half week closing high yesterday, bolstered by upbeat corporate earnings reports from oil major BP and wealth manager St James’s Place. BP, up 2.9 per cent, contributed most points to the UK benchmark index as it raised its quarterly dividend and said more share [...]
Letters to the Editor – 30/04 – Army reservists, Best of Twitter April 29, 2014 Army reservists [Re: Small firms fear effects of rise in army reservists, Monday] In your article, The Federation of Small Businesses (FSB) calls on the Ministry of Defence to understand business concerns about the rise in army reservists. That is exactly what we are doing. With reservists set to play an expanded role in defence, [...]
The West’s latest sanctions might deal a heavier blow than we think April 29, 2014 Despite being criticised for their mildness, the newest sanctions imposed on Russian companies and indviduals by the US and EU send out a clear message on elements of Russia's way of doing business. Russian officials have warned the country’s hi-tech sector could be affected and Gazprom, Russia’s massive gas company, has said the sanctions have the [...]
BP ups dividend despite profit drop April 29, 2014 As it continues to press on with its turnaround programme, BP has reported that profit fell 24 per cent to $3.2bn (£1.9bn) in the first quarter – that's slightly ahead of the $3.1bn consensus forecast, though, and on the back of weaker production. It’s upping its quarterly dividend by 8.3 per cent to 9.75 cents per ordinary [...]
Asian markets indecisive as US imposes fresh sanctions April 29, 2014 Asian markets have been switching between gains and losses after a less than impressive day on Wall Street and the crisis in Ukraine continued to give investors reason for caution. The US has deployed more troops in eastern Europe and imposed fresh sanctions in response to Russia's activity in the region. The new sanctions target [...]
US unveils fresh sanctions wave on Moscow elite April 28, 2014 A FRESH round of sanctions on figures close to the Russian regime was announced by the American government yesterday. The list of people sanctioned included Igor Sechin, president and chairman of the board of Rosneft, an oil firm in which the Russian government is a majority shareholder and BP holds a 20 per cent stake. [...]
Devro issues profit warning April 28, 2014 Shares in sausage skin maker Devro slid 11 per cent yesterday after the company warned that it expected profits to be around £8m lower than expected due to lower volumes and costs related to investments in low-cost manufacturing technology. The group behind edible collagen casings for bratwurst, salami and chorizo, said sales are also expected [...]
London Report: AstraZeneca has a healing effect on the FTSE 100 April 28, 2014 ASTRAZENECA shares surged to boost Britain’s top share index yesterday, after US rival Pfizer said it wanted to buy the drugmaker. The FTSE 100 closed just off a seven-week closing high after a volatile afternoon session as investors digested new sanctions on Russia from the US. AstraZeneca jumped 14.4 per cent after Pfizer confirmed yesterday [...]
Gold ETFs in tug of war between Ukraine fears and US growth April 28, 2014 There has been mixed research on gold today. According to Saxo Bank, gold saw a sixth consecutive week of outflows in exchange traded products last week. Investors traditionally buy gold as a safe-haven asset at times of uncertainty, but ongoing fears about the political crisis in Ukraine have been offset by confidence in the US [...]
What you need to know before the open April 28, 2014 European markets are expected lower this morning, hit by further sanctions being set out by G7 nations against Russia. Officials have accused Russia of deliberately exacerbating the current situation in Ukraine. Further travel restrictions and asset freezes on a further 15 individuals are expected to be imposed by the EU today. The lift markets got [...]