London open: Stocks slip after IMF cuts growth forecasts
9th Oct 2012 08:25
- IMF cuts global growth estimates - Q3 US earnings season to kick off this evening - Capita and Aggreko dented by broker downgrades UK stocks continued to fall on Tuesday morning following a steep drop the day before, as concerns about the global economy were fuelled by a downgrade to growth forec
Read moreTuesday newspaper round-up: BAE, Reckitt Benckiser, IMF
9th Oct 2012 06:41
Investor opposition to the proposed tie-up between Europe's aerospace and defence champions is mounting, with more than 30 per cent of shareholders in BAE Systems expressing significant concerns about the deal with EADS. Ahead of a takeover deadline on Wednesday, some of the biggest investors in the
Read moreLondon close: Stocks dampened by global growth concerns
8th Oct 2012 16:32
- Miners fall on global growth concerns - Supermarkets perform well after broker comments - World Bank cuts Chinese growth forecasts Cyclical stocks suffered falls on Monday as growing uncertainty about the Eurozone and concerns over global growth dampened the mood. "Stocks traded lower today as i
Read moreUK calls for France to reduce its stake in potential BAE and EADS merger
8th Oct 2012 15:03
The Defence Secretary said on Monday that France's holding in the proposed merger of BAE Group with EADS must be reduced to single digits in order for the merger to take place. Speaking on the BBC, Philip Hammond said: "Our position is that they will have to make a considerable reduction in their
Read moreLondon midday: Worries over growth hit the miners
8th Oct 2012 11:41
- Global growth concerns weigh on cyclicals - Investors worries about Eurozone uncertainty - Evraz sinks after gloomy broker comments After a steep fall early on, the FTSE 100 traded sideways for most of the morning session with cyclical stocks (including the miners and banks) dampened by concerns
Read moreBAE's largest shareholder 'very concerned' over merger
8th Oct 2012 08:48
Invesco, the largest shareholder in BAE, has voiced 'significant reservations' over its proposed merger with EADS and the impact it could have on shareholders. Funds managed by Invesco own around 13.3% of defence firm BAE's ordinary shares, making it the largest shareholder in the company. The inv
Read moreLondon open: Stocks dented by global growth concerns
8th Oct 2012 08:21
- World Bank cuts forecasts for China - Evraz leads miners lower - BAE drops on risks to EADS merger UK stocks slid sharply on Monday morning with mining and financial shares weighing on the FTSE 100 early on as concerns over the global economy spurred a move away from 'risk'. The World Bank has c
Read moreMonday broker round-up - UPDATE
8th Oct 2012 08:03
AMEC: Investec keeps buy rating and 1,300p target. Aquarius Platinum: Panmure Gordon keeps buy rating and 163p target. BAE Systems: Societe Generale upgrades to hold, target lifted from 300p to 350p. British American Tobacco: Nomua raises target from 3,500p to 3,506p, buy rating kept. BSkyB: Nom
Read moreMonday newspaper round-up: BAE, Tory conference, Argentina
8th Oct 2012 07:00
BAE Systems' largest shareholder will on Monday signal its "significant reservations" about the UK defence group's proposed tie-up with EADS . Invesco Perpetual, which owns more than 13 per cent of BAE, will outline in a statement its concerns about the structure of the 35bn euro transaction and its
Read moreSunday newspaper round-up: Greece, BAE Systems, Britain´s banks
7th Oct 2012 18:06
Greece cannot have more time to repay its debt to the European Central Bank because it would be illegal and "illogical", board member Joerg Asmussen has said, as he shut the door on pleas for leniency from the bank. Mr Asmussen said that the ECB could not lengthen the time period for loans to Greece
Read moreFriday newspaper round-up: BAE, Gold, Corporate bonds
5th Oct 2012 06:15
Alistair Darling has made a forceful intervention in the plans by EADS to combine with BAE Systems, saying British interests were bound to suffer because the UK government would have no equity stake in the enlarged group. The former chancellor of the exchequer told the Financial Times he saw the lo
Read moreEADS chief talks of guarantees for BAE jobs
4th Oct 2012 10:16
EADS Chief Executive Tom Enders is prepared to talk about guarantees for jobs and production sites if it merges with BAE Systems, according to an article in Germany's Bild newspaper. In an interview he also argued that a merged company offers the best opportunity to guarantee German jobs in a compe
Read moreLondon close: Stocks surge after US data, Spanish stress tests
1st Oct 2012 16:45
- US data beats forecasts in September - Reports imply Germany may soften stance on Greece - Banks and miners rise strongly in London - Credit Suisse says Spanish stress test a "generally credible exercise" - Credit Suisse says larger top-down questions remain in stress tests Better-than-forecast m
Read moreFTSE 100 movers: Xstrata rises after agreeing to merger with Glencore
1st Oct 2012 14:46
The big news of the day was that the so-called merger of equals between commodities trader Glencore and mining titan Xstrata is back on after the independent directors of the latter agreed to Glencore's terms. Jefferies reiterated its positive stance on both stocks this morning, saying that while th
Read moreEADS shareholder Lagardere says merger terms are 'unsatisfactory'
1st Oct 2012 12:36
Lagardere, a major shareholder in EADS, has blasted the terms of its proposed merger with BAE Systems as "unsatisfactory", prompting a backlash from EADS investors. Lagardere, which in 2005 sold half of its original 15% stake in EADS, said in a statement on Monday - 10 days before the formal merge
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