FTSE edges up as investors eye US strategy August 31, 2011 The FTSE 100 opened solidly this morning as investors kept their eyes on the situation across the Atlantic with hopes still alive that the US Federal Reserve will trigger stimulus measures to boost the struggling economy. US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal [...]
Austerity measures hit Serco August 24, 2011 BRITISH outsourcing firm Serco yesterday warned of continued austerity headwinds in its core UK and US markets, sending shares down despite posting a 12 per cent first-half profit rise that was ahead of expectations. Serco, whose UK and US business account for around 80 per cent of group revenue, said that austerity measures in the [...]
Miners and energy firms push FTSE to week’s highest close August 24, 2011 Strong miners and energy stocks helped drive Britain’s top share index to its highest close in a week yesterday in choppy trade as investors jostled for position ahead of a speech by Federal Reserve Chairman Ben Bernanke on Friday. Traders pointed to continued speculation that the Fed could unveil a further round of US quantitative [...]
Serco profit up on overseas performance August 24, 2011 British outsourcing group Serco posted a 12 percent rise in first-half profit, boosted by a strong performance in its overseas business, and said it expected growth to continue despite continued UK and U.S. austerity headwinds. Serco, which among other things runs London’s cycle hire scheme and the Dubai metro, on Wednesday said adjusted pretax profit [...]
FTSE bounces up but all eyes move to Fed’s announcement August 9, 2011 BRITAIN’S top share index bounced off 13-month lows yesterday, along with indexes across the Atlantic, as investors hoped an announcement by the US Federal Reserve would calm nerves over global debt and growth problems. “There has been some chatter that the Fed will bring forward the FOMC meeting to announce QE3 [quantitative easing] to the [...]
BEST OF THE BROKERS July 28, 2011 RENISHAW Citi rates the global healthcare company as a “sell” with a target price of £14.92, after this week’s preliminary results revealed a three per cent consensus earnings miss. As the results were in line with the broker’s estimates, though, it views the miss a sign of miscommunication with investors rather than a symptom of [...]
Nervous FTSE ends higher as EU solution for Greece looms July 21, 2011 FINANCIALS drove gains on Britain’s top share index yesterday, as hopes a solution could be found to Europe’s sovereign debt crisis boosted investor sentiment. The UK’s benchmark index closed up 46.07 points or 0.8 per cent at 5,899.89, having endured a choppy session, trading in a 137 point range as nervous investors jostled positions awaiting [...]
FTSE steadied by Greek breakthrough July 21, 2011 The FTSE 100 started solidly this morning as it emerged that France and Germany had reached an agreement on a second bailout for Greece. Banks led the way as investors gained confidence in stocks recently buffeted by fears of exposure to the debt crisis which has engulfed the Eurozone. Leaders of the 16-country bloc will [...]
FTSE breaks eight day streak on jitters over China and Euro July 6, 2011 THE FTSE 100’s eight-day winning streak came to a halt yesterday as worries over debt contagion in Europe and the demand outlook in China hit banking and commodity stocks. The top share index closed 21.11 points or 0.4 per cent lower at 6,002.92, having risen more than six per cent in the previous eight sessions [...]
Banks in retreat after Portugal downgrade July 6, 2011 The FTSE 100 lost ground on opening today after Moody’s cut Portugal’s credit rating to “junk” sending banking shares down. As the Eurozone crisis deepened investors abandoned risky equities as banks’ exposure to the crisis in the eurozone came under the spotlight. The euro fell sharply after the Moody’s four-notch downgrade to Ba2, with the [...]