BEST OF THE BROKERS November 22, 2010 DIXONS Seymour Pierce rates the retailer “buy” with a target price of 37p. The broker is looking for progress in the Nordic countries and the UK in the firm’s results on Thursday, with a first-half loss of £8m. It forecasts 37 per cent growth in 2011 pre-tax profit as the firm’s new strategy takes effect [...]
Twenty per cent off property in paradise November 18, 2010 IT FEELS wrong to be delighted by the financial crisis, doesn’t it? But if you were reclining on a sun-lounger in 30°C heat with a sparkling ocean stretching out in front of you, it would be difficult not to. Especially if you had managed to buy a Caribbean dream home on the cheap. The numbers [...]
Investing your love in bricks and mortar November 18, 2010 1 BUDGET Before you start the fun stuff – househunting – make sure you have covered the boring stuff: finances. Work out how much you can afford to put towards mortgage repayments each month, based on your joint net income, and joint outgoings. If, like Kate and William, you are thoroughly modern and are already [...]
UK to oppose EU-funded rating agency November 16, 2010 BRITAIN will oppose the introduction of an EU-funded credit rating agency (CRA), after ministers dismissed it as a waste of European taxpayers’ money. Earlier this month Michel Barnier, the EU internal market commissioner, floated the idea of a new European CRA to boost competition in a sector that is dominated by three big players: Moody’s, [...]
New rules for loan sellers November 16, 2010 MORTGAGE sellers could face tough new rules under proposals by the Financial Services Authority (FSA). The watchdog is calling for sellers to hold professional qualifications before they can approach potential home buyers. The FSA has conducted a major review of the market as it seeks to protect buyers from being sold home loans they cannot [...]
FAITH IN QE2 LIMITS FALLS IN EQUITIES November 15, 2010 CFD MARKET STRATEGIST, GFT RECENTLY, investors have got used to their expectations being met. Republican victories in the mid-terms led investors to expect a more business-friendly environment. The Fed’s latest QE announcement was in line with estimates, while a thumping gain in non-farm payrolls has raised hopes that unemployment may have turned a corner. With [...]
Net wealth back to 2005 levels as housing recovers November 11, 2010 BRITONS’ net wealth climbed back to 2005 levels last year, largely because of a mini revival in the housing market, according to official statistics released yesterday. Household net wealth rose 7.3 per cent to £117,000 per person in 2009 – the same as in 2005 – but still below a peak of £128,000 in 2007. [...]
Barclays November 9, 2010 DESPITE Barclays having avoided a taxpayer bailout, there’s plenty of fodder for populist banker-bashing in its third-quarter results. Pre-tax profits were down 76 per cent and £1.6bn has been set aside for bonuses. These headline figures ignore the impact of mark-to-market fluctuations in value and the fact that investment bank staff numbers are up 2,000. [...]
Commerzbankmisses target as losses leap November 8, 2010 Germany’s second-biggest lender Commerzbank missed forecasts for third-quarter profit yesterday as losses on commercial mortgages and the costs of integrating Dresdner Bank offset strong corporate lending. Third-quarter net profit of €113m (£97.5m) was below the €164m average estimate in a analyst’s poll, though Germany’s economic rebound turned it round from a loss of more than [...]
Market cools as property prices tumble November 4, 2010 AVERAGE property prices have fallen 1.2 per cent in the last three months, according to the latest Halifax house price index. The closely watched index from the Lloyds Banking Group-owned lender showed house prices rose 1.8 per cent in October which helped to partially reverse the 3.7 per cent decline from the previous month. But [...]