Broker tips: Property stocks, Stagecoach, Reed Elsevier
24th Jun 2009 13:01
Credit Suisse has turned bullish on the UK commercial property sector in the wake of effective monetary, banking and fiscal policy responses. The Swiss bank has raised its rating on the sector from "market weight" to "overweight" in the belief that "the UK economic momentum is better than any other
Read moreBroker snap: Credit Suisse sees hope for property
24th Jun 2009 12:51
Credit Suisse has turned bullish on the UK commercial property sector in the wake of effective monetary, banking and fiscal policy responses. The Swiss bank has raised its rating on the sector from "market weight" to "overweight" in the belief that "the UK economic momentum is better than any other
Read moreTuesday newspaper round-up: Anglo American, Thomson Reuters, RBS
23rd Jun 2009 06:16
Anglo American, the global mining group, flatly rejected Xstrata's proposed all-share "merger of equals", putting itself at odds with several big investors as it labelled the offer from its Anglo-Swiss rival "totally unacceptable" reports the FT. Anglo's blunt rejection of the deal will put pressur
Read moreLondon open: Steady start for Footsie
16th Jun 2009 08:39
London's blue have made modest progress despite a tough day on Wall St yesterday with good figures from Tesco giving a boost. Property group's British Land and Hammerson are the best performers this morning, but it is Tesco's figures that catch the eye. Tesco's like-for-like sales growth came in a
Read moreLondon close: Rio bombshell pulls back Footsie
4th Jun 2009 17:03
Rio Tinto dominated late trading as its deal with Chinese giant Chinalco looked all but dead in the water as the mining giant confirmed it is considering its options. A rights issue to raise up to $15bn could be announced as soon as tomorrow according to reports in Australia. Rio shares slumped by
Read moreLondon afternoon: Rio dives on Chinalco rumours
4th Jun 2009 14:27
Disappointment with the Bank of England's decision not to expand its quantitative easing programme prompted a downturn in the market, wiping out the morning's gains. London's blue-chip index is also struggling with the burden of a weak mining sector, which has moved further into the red after rumou
Read moreLondon midday: Financials lead rally
4th Jun 2009 12:03
The Bank of England's interest rate decision was every bit the non-event economists had been predicting, with the key lending rate left unchanged at 0.25% while no further changes to the quantitative easing programme have been made. Equities remain slightly firmer, with financials recovering some o
Read moreLondon afternoon: Shares stuck in the red
2nd Jun 2009 14:40
Shares remain in the red after failing to find inspiration on Wall Street, which opened sluggishly. Bank Barclays is nursing a double-digit percentage decline after news of the impending sale by IPIC broke overnight. Khadem Al Qubaisi, managing director of IPIC, said that the sale did not represen
Read moreLondon midday: Profit takers move in
2nd Jun 2009 11:55
Profit taking was the theme of the morning as investors reduced equity exposure after yesterday's sharp rise while Barclays tumbled on the revelation that Abu Dhabi's International Petroleum Investment Company (IPIC) is to bank profits on its Barclays stake. Barclays is nursing a double-digit perce
Read moreLondon close: Footsie ends on low note
15th May 2009 16:29
London closed lower after a lacklustre afternoon session with losses on properties and travel companies outweighing gains on miners. Shocking figures from property giant Land Securities on Wednesday still cast a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lowe
Read moreLondon afternoon: Travel companies trip Footsie
15th May 2009 14:10
London continues its gentle downward drift, with losses on properties and travel companies outweighing gains on miners. The market seems unlikely to get any sort of lift from Wall Street which is expected to open moderately weaker. Shocking figures from property giant Land Securities on Wednesday
Read moreFTSE 100 movers: Barclays lifted by iShares talk
15th May 2009 13:17
Barclays did well on hopes it may backtrack on a deal to sell its iShares unit to CVC, the private equity group, and instead offload its entire asset management division for £6.5bn. Barclays agreed last month to sell its iShares unit to CVC Capital Partners for $4.2bn, but is now reportedly consid
Read moreLondon midday: Rally stalls
15th May 2009 12:15
Weak properties and oils have pitched the Footsie into the red, despite the continued strength of banks and miners. Shocking figures from property giant Land Securities on Wednesday are still casting a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lower but Hammer
Read moreLondon close: Footsie takes a dive
13th May 2009 16:31
Footsie gave up its recent indecisive spell to dive into the red after an unexpected fall in US retail sales tempered recent talk that we are on the cusp of an economic recovery. Financial shares were the worst performers in London, not helped by disappointing trading updates from Legal & General a
Read moreSector movers: Property updates worry investors
13th May 2009 14:43
Property groups are lower on a busy day for the sector. Brixton falls after it said it was still considering an equity raising as it sold four industrial units to AEW Europe for £70.25m. FTSE 100-listed Land Securities is also lower after it saw its net asset value slashed by two-thirds in 2008 in
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