London close: Rally continues as FTSE 100 jumps
27th Jun 2013 16:44
Strong US economic data and some reassuring comments by a member of the Federal Reserve gave markets a big boost on Thursday, helping the FTSE 100 to extend gains into the third day. After hitting a fresh five-month low of 6,029 on Monday, the FTSE 100 has risen strongly over the past three session
Read moreMelrose Chairman invests 6.6m pounds through share purchase
27th Jun 2013 15:51
Industrial investment conglomerate Melrose saw its long-running Chairman invest over six and a half millions pounds in the company this week. Harris & Sheldon Investments, an investment company connected with Executive Chairman Christopher Miller, purchased 2.76m shares through three transactions b
Read moreLondon close: FTSE 100 drops three per cent after Fed signals end to QE
20th Jun 2013 16:58
Equity, bond and commodity markets were a sea of red on Thursday as traders fled from risk in the aftermath of the Federal Reserve's confirmation of its stimulus 'exit strategy'. The FTSE 100 finished down an eye-watering 189 points, falling 2.98% to 6,160. The last time the index was at this level
Read moreFTSE 100 movers: Miners hit hardest in market sell-off
20th Jun 2013 14:33
Heavy selling pressure was affecting indices across Europe and America on Thursday after the Federal Reserve warned that it would begin to taper its stimulus programme this year, meanwhile gloomy figures from China continue to point to a slowdown in the world's second-largest economy. As is often th
Read moreLondon midday: Markets drop over two per cent in Fed aftermath
20th Jun 2013 11:38
The Federal Reserve may have painted a better picture of the US economy last night, but the concept of a life without quantitative easing (QE) prompted a heavy sell-off on equity markets on Thursday morning, with indices across Europe hit hard following steep losses on Wall Street. The Federal Open
Read moreBroker tips: Melrose, Tesco, Dixons, Ted Baker
20th Jun 2013 11:10
Investec has maintained its 'buy' rating for industrial conglomerate Melrose after the better-than-expected sale price from the disposal of motor manufacturing division Marelli Motori. "Melrose's model (and record) also includes holding the appropriate level of capital for its current requirements,
Read moreBroker snap: 'Sizeable' cash return likely at Melrose, says Investec
20th Jun 2013 10:54
Investec has maintained its 'buy' rating for industrial conglomerate Melrose after the disposal of motor manufacturing division Marelli Motori. "Melrose's model of 'Buy, Improve and Sell' has been proven many times over and today's announcement repeats the process," said analyst Chris Dyett. The c
Read moreLondon pre-open: Sharp falls expected after Bernanke confirms 'tapering'
20th Jun 2013 07:28
Confirmation by Chairman Ben Bernanke that the Federal Reserve could begin taper its quantitative easing (QE) programme this year is set to weigh heavily on markets on Thursday. City sources predict the FTSE 100 will open down 93 points from yesterday's close of 6,349. Stocks on Wall Street last n
Read moreMelrose Industries sells Marelli Motorio
20th Jun 2013 07:05
Melrose Industries has agreed to sell its wholly-owned subsidiary Marelli Motorio, an electric motor and generator manufacturer. The business will be sold to an undisclosed company owned by funds managed by the Carlyle Group for a total cash consideration of €212m. Melrose said the transaction wil
Read moreLondon midday: Losses pared after UK, Eurozone manufacturing data
3rd Jun 2013 11:42
Disappointing factory activity in China prompted sharp falls in early trading on Monday, though losses were pared by lunchtime after some better-than-expected manufacturing figures closer to home. The FTSE 100 sunk to an intraday low of 6,512 early on, falling to levels not seen since the start of
Read moreBroker tips: Polymetal, Tate & Lyle, Melrose
3rd Jun 2013 10:34
JPMorgan Cazenove has upgraded its rating for Polymetal from 'neutral' to 'overweight' and initiated its positive recommendation for gold mining peer Polyus Gold, citing an inflection point for earnings per share (EPS) next year. "Providing a natural hedge against inflation and global risks (both c
Read moreBroker snap: Increased cash return possible at Melrose, says Investec
3rd Jun 2013 09:48
Investec has reiterated its 'buy' rating and 300p target price for manufacturing conglomerate Melrose after the company confirmed that it is looking at the possible sale of its Crosby and Acco lifting divisions. The broker said that the Melrose's business model is buying, improving and selling unde
Read moreLondon open: Stocks sink after Chinese manufacturing figures
3rd Jun 2013 08:27
A disappointing reading of Chinese manufacturing activity combined with the realisation that US stimulus may soon be trimmed weighed heavily on market sentiment on Monday morning. The FTSE 100 sunk by nearly one per cent early on, falling to levels not seen since the start of May, following sharp f
Read moreLondon pre-open: Stocks to start the week lower after Chinese data
3rd Jun 2013 07:40
Markets are expected to be under pressure on Monday morning after economic figures from China showed that the manufacturing sector contracted at a faster-than-expected rate in may. The final reading of the Chinese manufacturing purchasing managers' index (PMI) was revised lower to 49.2, worse than
Read moreMelrose mulling sale of lifting divisions
3rd Jun 2013 07:05
Manufacturing investment firm Melrose is eyeing a potential disposal of its lifting equipment divisions, Crosby and Acco, the company announced on Monday morning. Confirming media speculation over the weekend, Melrose said that it is in the very early stages of considering a possible sale of the un
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