WHAT THE OTHER PAPERS SAY THIS MORNING February 12, 2012 FINANCIAL TIMES CHINA TELLS BANKS TO ROLL OVER LOANS China has instructed its banks to embark on a mammoth roll-over of loans to local governments, delaying the country’s reckoning with debts that have clouded its economic prospects. China’s stimulus response to the global financial crisis saddled its provinces and cities with Rmb10.7tn (£1.08tn) in debts [...]
FTSE rises as Greece closes in on deal January 31, 2012 The FTSE 100 rose in early trading on hopes Greece was nearing a debt swap deal required to salvage the nation’s finances while European leaders agreed on stricter budget discipline measures to help prevent further debt disasters in the region. Greek Prime Minister Lucas Papademos said negotiators had made “significant progress” in talks to strike [...]
Mitie trading in line as solid order book fuels confidence January 30, 2012 OUTSOURCING and energy specialist Mitie said revenues and earnings had come in line with expectations in a trading update yesterday. The FTSE 250-listed company said its private sector client sales were strong, having sealed recent deals with insurers Friends Life and LV=. In the public sector it said there were still contracts being won despite [...]
It’s a fix: Coalition plans for Britain’s energy market are likely to boost fuel poverty January 24, 2012 OVER twenty years since Britain laid the groundwork for electricity privatisation and delivered the most liberalised electricity market in the world, the coalition’s new energy “market” reforms will artificially fix the price of electricity in an effort to support more wind energy and kick-start the building of new nuclear power stations. Top-down controls will distort [...]
Resource stocks peg back FTSE January 18, 2012 The FTSE 100 edged down this morning amid continuing fears of a Greek economic meltdown and a lowering of world growth forecasts by the World Bank. Resource stocks were the worst hit overall as the bank predicted world economic growth of 2.5 per cent in 2012 and 3.1 per cent in 2013, well below the [...]
Miners rise on China stats despite lingering euro fear January 17, 2012 BRITAIN’S top shares rose yesterday, aided by mining stocks after data from top metals consumer China eased worries over the demand picture, although fears of a Greek default kept a lid on the gains. The UK benchmark closed up 36.51 points, or 0.7 per cent, at 5,693.95, having earlier baulked just above the near-term 5,720 [...]
Banks steady FTSE but retailers dive January 12, 2012 The FTSE 100 index saw modest rises this morning as banks performed well in stark contrast to the retail sector which was pulled down by a string of poor results from heavyweights including Tesco. Investors were also digesting the results of a Spanish sovereign debt auction which showed yields going in a positive direction. Spain [...]
EDF moves to cut gas price by 5 per cent January 11, 2012 EDF Energy yesterday piled pressure on its rivals by announcing a five per cent cut to its gas prices. The company said the reduction, which comes into effect on 7 February, had been made possible by the lower wholesale cost of gas in the mild winter. But yesterday none of the other companies in the [...]
FTSE rally ends as investors eye Eurozone bond auctions January 11, 2012 The rally on the FTSE 100 yesterday stalled in early trading today as concerns over upcoming Eurozone bond auctions and slightly weaker commodity stocks took their toll. Heavyweight miners failed to keep up the gains made yesterday which were fuelled by positive data from China showing the country’s demand for metals had risen. Wall Street [...]
Resource stocks stoke FTSE gains January 10, 2012 The FTSE 100 saw solid gains this morning as resource and energy stocks were boosted by upbeat forecasts from US aluminium giant Alcoa and figures showing growing demand from China. Alcoa, the largest US aluminium producer, reported fourth-quarter revenue that beat Wall Street expectations, even though it registered a loss. The earnings news had a [...]