London close: Footsie drifts lower ahead of Greek vote
4th Nov 2011 17:00
Things were going relatively swimmingly in London, until US jobs data prompted some investors to bank profits ahead of this evening's vote-of-confidence vote in the Greek parliament. The vote could be 'make-or-break' for prime minister George Papandreou. Many leading politicians in Greece have cal
Read moreFTSE 100 movers: Fuel cost worries weigh on IAG
4th Nov 2011 16:30
After a good showing in the morning session, Footsie turned lower after a mixed set of US jobs data for October. Among those stocks still holding on to the morning's gains are a number due to report next week, including Morrisons, Marks & Spencer and Land Securities. On the downside, airline group
Read moreIAG to buy BMI from Lufthansa
4th Nov 2011 07:49
International Airlines Group (IAG), the company formed through the merger of British Airways and Iberia, is to add British Midland (BMI) to the mix, after agreeing in principle to buy the UK-based airline from Deutsche Lufthansa. The price has not been revealed. The deal, which is subject to due d
Read moreLondon pre-open: Operating profits disappoint at RBS
4th Nov 2011 07:40
Yesterday's advance looks set to continue today, albeit at a more sedate pace, as investors await October's US jobs data and further developments in Greece, where the government faces a vote-of-confidence motion in parliament today. City sources predict the FTSE 100 will open up 25 points from yes
Read moreChristmas Iberial pilot strike looks unavoidable, union claims
31st Oct 2011 12:24
Justo Peral, head of the SEPLA labour union, believes that a pilot strike at Spanish airline Iberia is unavoidable during the upcoming Christmas season. Peral stated that the Spanish company plans to offer a pilot the same €26,000 per year salary as a flight attendant, reports broadcaster ABC. In
Read moreFTSE 100 Movers: Bank investors loose enthusiasm
28th Oct 2011 13:17
ITV was on the up after RBS reiterated its "buy" hold on the stock. Meanwhile, International Consolidated Airlines dipped following a target price cut from UBS from 260p to 240p. Barclays was also falling despite an upgrade from J.P.Morgan from neutral to overweight and a "buy" reiteration from
Read moreUPDATE: Friday broker round-up
28th Oct 2011 09:13
HSBC/Standard Chartered: Citi chief economist William Buiter argues today that: "World trade is set for a prolonged boom and a marked transformation. Transaction banking and trade finance should track the direction of trade and economic growth in the long term. (...) Standard Chartered and HSBC shou
Read moreSpeculation regarding IAG interest in Aer Lingus and BMI
17th Oct 2011 15:41
Etihad, the fast growing Middle Eastern airline, has approached the Irish government regarding its 25% stake in flag-carrier Aer Lingus, according to people with knowledge of the move, reports the Financial Times. Irish transport minister Leo Varadkar said that he would not sell it for less than €1
Read moreSunday newspapers round-up: Murdoch, UK GDP has 'stalled', BP ...
16th Oct 2011 13:35
America's two largest public pension funds have increased the pressure on Rupert and James Murdoch to step down from the board of News Corporation just days before the billionaire family faces a showdown with shareholders at the company's annual meeting, informs the Sunday Telegraph. The call to act
Read moreIAG to create a new 'low cost' carrier
3rd Oct 2011 08:01
The board of International Airlines Group´s Iberia unit will meet this week to consider establishing a new 'low-cost' carrier that should improve the unit´s profitability, according to the Financial Times, but there is a risk of provoking industrial action. AB
Read moreLondon close: Miners drag down Footsie
29th Sep 2011 17:07
London was out of step with global stock markets, as it ended the day in the red, despite a bill to expand the European Financial Stability Fund (EFSF) sailing through the Bundestag with ease today. There were just 85 votes against the idea of expanding the Eurozone's bailout fund, while 523 membe
Read moreIAG buys Heathrow slots
23rd Sep 2011 07:38
Deutsche Lufthansa subsidiary bmi British Midland International has sold six daily slot pairs at London Heathrow airport to British Airways. The sale has been approved by International Consolidated Airlines (IAG), the group formed by the merger of British Airways and Iberia. The slots will be used
Read moreBroker tips: Lloyds, Britvic, Airlines...
19th Sep 2011 12:29
Evolution Securities has reiterated its buy recommendation on banking giant Lloyds, following the departure of its finance director Tim Tookey. "Tim Tookey's departure represents a de facto clean sweep of the executive team inherited by new chief executive officer Antonio Horta Osorio when he arriv
Read moreBroker snap: RBS cuts airline figures across the board
19th Sep 2011 12:08
RBS has cut its target prices for airline peers easyJet, International Consolidated Airlines (IAG), Ryanair and Flybe, after assessing August traffic data across the industry. "Airlines may, or may not, be on the cusp of an inflection point in trading. Cargo results are deteriorating. Passenger dat
Read moreLufthansa hires Morgan Stanley to sell BMI
12th Sep 2011 11:35
Lufthansa appears to have taken another step towards the sale of BMI British Midland by hiring Morgan Stanley to explore options. It also assigned a new managing director to review a possible restructuring, as reported by Sunday Times. Among the possible candidates to buy the German company's Br
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