London open: Stocks rise after Chinese data
22nd Nov 2012 08:27
- Footsie gains after upbeat Chinese data - Volumes expected to be light with US markets closed - SABMiller and Man Group lead gains on FTSE 350 UK stocks started Thursday's session with moderate gains after some upbeat manufacturing figures from China, though trade is expected to be light with US
Read moreLondon midday: Footsie nears four-month low
16th Nov 2012 11:34
- Footsie near levels not seen since end of July - 'Fiscal cliff' and Greek uncertainty clouds the markets - Melrose drops 13 per cent After a fairly subdued start, UK stocks had sunk firmly into negative territory for the third straight day, owing to some heavy falls from Melrose, the banks and re
Read moreMan Group sheds last of Lehman legacy
16th Nov 2012 08:14
Hedge fund manager Man Group has got shot of the last of its exposure to the estates of collapsed US bank Lehman Brothers. Hutchinson Investors LLC, managed by the Baupost Group, has paid $456m in cash for the Lehman claims Man Group acquired in 2011. The claims were valued at $346m on Man's books.
Read moreFTSE 250 movers: Elementis falls on news of profit slowdown
26th Oct 2012 16:14
Speciality chemicals group Elementis was a heavy faller after saying that full-year headline operating profits will be hit by a temporary slowdown in oilfield drilling. Nevertheless, the group said it remains on track to hit earnings per share (EPS) forecasts this year due to a lower tax rate. Afr
Read moreFriday newspaper round-up: ECB, Apple, Libor
26th Oct 2012 07:20
Data from the European Central Bank (ECB) show that the tentative rebound in the money supply over the summer may have stalled again in September. The broad M3 gauge -- watched by experts as an early warning signal for the economy a year or so ahead -- shrank by 30bn euros and is now down by 143bn e
Read moreSunday newspaper round-up: RBS, BP, Asos
21st Oct 2012 16:09
Nationwide is considering a takeover bid for the 316 bank branches that have been put back up for sale by Royal Bank of Scotland. Britain's biggest building society is mulling a possible offer following the collapse of a £1.65bn deal to sell the network to Santander UK. RBS, which has to dispose of
Read moreFriday broker round-up - UPDATE
19th Oct 2012 09:00
Aggreko: Jefferies keeps buy rating and 2,800p target; Seymour Pierce keeps buy rating and 2,500p target; Panmure Gordon cuts target from 2,228p to 2,159p, hold rating unchanged. Alliance Pharma: umps upgrades to buy, target lifted from 32p to 37p. Avacta: Panmure Gordon keeps buy rating and 1.75p
Read moreNewspaper tips round-up: Man, UBM
19th Oct 2012 06:59
Tempus in The Times writes that while Man Group remains the world's biggest listed hedge fund manager, it has become worryingly accustomed to giving investors bad news. Yesterday Man reported its fifth successive quarter of net fund outflows, up from $1.4 bn to $2.2 bn, although it blamed the increa
Read moreLondon close: Barclays limits gains after PPI confession
18th Oct 2012 16:44
- Barclays to take another unexpected hit from PPI claims - Chinese data boosts miners - Markets cautious before EU summit After swinging between gains and losses for most of the session, UK stocks finished flat on Thursday despite some robust growth figures from China, as some worse-than-expected
Read moreFTSE 250 movers: Go-ahead tops risers after strong Q1 trading
18th Oct 2012 15:48
Transport group Go-Ahead rose after it said that trading in the first quarter has been strong as it announced a new ambitious target for profit growth in its bus division. The company reckons bus operating profit should be £100m by 2015/16, compared with the £64-70m range over the past five years.
Read moreLondon midday: Stocks flat but BP gains after Rosneft deal
18th Oct 2012 11:39
- BP gains after Rosneft offer - Markets cautious ahead of EU summit - Chinese economic data impresses The Footsie was trading within a narrow range of just 22 points on Thursday morning as investors showed caution ahead of the upcoming EU summit in Brussels this afternoon. The UK benchmark was f
Read moreFunds flow the wrong way at Man Group
18th Oct 2012 07:45
The speed at which money is being yanked from funds under management by Man Group picked up in the third quarter. Funds under management at the end of September were 14% higher than three months earlier at $60bn, driven by the acquisition of FRM, which added $8.3bn to funds under management. The m
Read moreTuesday broker round-up
9th Oct 2012 09:05
3i Group: Morgan Stanley raises target from 221p to 233p, equal weight rating kept. Aberdeen Asset Management: Morgan Stanley raises target from 315p to 365p, overweigh rating kept. Aggreko: HSBC downgrades to neutral. Alternative Networks: Westhouse upgrades to strong buy. ASOS: Panmure Gordon
Read moreLondon close: Miners surge after US jobs figures beat forecasts
5th Oct 2012 16:44
- US data spreads some cheer - Mining stocks gain though Anglo bucks the trend - Tesco continues to fall after interim results The FTSE 100 index finished the day with decent gains on Friday as some better-than-expected employment figures from the US lifted sentiment late on. "A firmer but fairly
Read moreHedge fund manager feels like a New Man
24th Sep 2012 07:45
Hedge fund manager Man Group is planning to create a new group holding company, Man Strategic Holdings, which it believes will reduce the group's capital base and improve its access to distributable reserves, thus enabling it to continue with its dividend policy. In essence, shareholders will see
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