Wunderman acquires majority stake in Bienalto
20th Dec 2012 08:34
WPP's operating company Wunderman has acquired a majority stake in Mayko Trading's Bienalto, a digital marketing and analytics consultancy in Sydney. Wunderman -- a leading global relationship marketing network with revenues of about $1bn -- said the investment reflected the group's commitment to
Read moreLondon midday: The 'Santa Rally' begins...
19th Dec 2012 11:35
An upgrade of Greece's credit rating and a better-than-expected reading of German sentiment saw European stock markets make impressive gains on Wednesday. Meanwhile, increasing optimism that US leaders can strike a deal to avert the 'fiscal cliff' was also continuing to bolster the bullish mood.
Read moreWPP sells Madison Avenue property for 189.25m dollars
19th Dec 2012 08:19
Advertising and marketing services giant WPP has sold a freehold property at 285 Madison Avenue in New York for 189.25m dollars . The property has been the worldwide headquarters of Young & Rubicam Inc (Y&R), the global marketing communications company, since 1926 and was acquired as part of WPP'
Read moreLondon open: Stocks rise on hopes over Greece
19th Dec 2012 08:16
UK stocks were making gains in early trading on Wednesday with sentiment being lifted by improving developments in Greece. Yesterday evening, S&P upgraded its rating for Greece from 'selective default' to 'B-minus'. The yield on a 10-year Greek bond was down 13 basis points at 12.7% this morning.
Read moreLondon close: Stocks fall as 'fiscal cliff' deadline looms
17th Dec 2012 16:40
Increasing optimism surrounding budget talks between US politicians may have helped the FTSE 100 come off its intraday low, but the index was stuck firmly in negative territory with markets remaining nervous ahead of the January 1st deadline. Without a deal, the $600bn in automatic spending cuts a
Read moreFTSE 100 movers: Aggreko plummets on cautious outlook
17th Dec 2012 15:23
Temporary power and temperature control solutions group Aggreko plummeted on Monday after giving a gloomy outlook for next year, saying that its performance would likely be lower than the 2012. Investec downgraded its rating for the stock from 'buy' to 'hold' this morning, after the company said t
Read moreLondon midday: Aggreko leads UK stocks lower
17th Dec 2012 11:33
The FTSE 100 had fallen firmly into negative territory by Monday lunchtime as markets focused on the impending 'fiscal cliff' in the US. "After a quiet open European stocks are weaker across the board this morning as traders temper their risk appetites over concerns that talks in Washington will pu
Read moreWPP to acquire Filmworks China via GroupM subsidiary
17th Dec 2012 09:18
British multinational advertising and public relations company WPP has agreed to acquire Filmworks China, an entertainment marketing agency in China, through its global media investment management arm GroupM. This investment continues WPP's strategy of developing its services in fast-growing and im
Read moreWednesday broker round-up UPDATE
12th Dec 2012 07:25
AMEC: Credit Suisse reduces target price from 1300p to 1250p reiterating an outperform rating. Anglo American: Barclays upgrades to equal-weight with a target price of 1970p. Ashtead Group: Barclays raises target price from 352p to 434p and reiterates an overweight rating. ASOS: HSBC raises targe
Read moreWednesday newspaper round-up: HSBC, WPP, UK rating...
12th Dec 2012 06:54
The chief executive of HSBC and a string of top bankers will lose a slice of their bonuses and will have future payouts deferred after Britain's biggest bank was hit with a record fine to settle damaging money-laundering charges. Stuart Gulliver, the former investment banker who runs HSBC, has alrea
Read moreLondon close: Stocks rally on 'fiscal cliff' optimism
10th Dec 2012 16:39
- Obama-Boehner meeting sparks optimistic mood - Italian PM steps down - Economic data from Asia comes in mixed Optimism that US law-makers can agree over the impending 'fiscal cliff' managed to offset concerns regarding political uncertainty in Italy, with the FTSE 100 rallying to finish with smal
Read moreFTSE 100 movers: AB Foods and Tullow Oil lead the risers
10th Dec 2012 14:44
Primark and food products giant Associated British Foods was the high riser on the Footsie on Monday afternoon, extending gains after Friday annual general meeting at which it revealed a strong start t o the new financial year. Oil group Tullow Oil was performing well today, rebounding after its re
Read moreLondon midday: Markets hit by resignation of Italian PM
10th Dec 2012 11:24
- Italian PM Monti to resign - Japan in recession - Greece extends buy-back offer Stock markets reacted to Mario Monti's resignation with moderate losses on Monday, as the departure of Italy's Prime Minister throws up another curve ball in the ongoing Eurozone debt crisis. Benchmarks across Europe
Read moreLondon open: Italian political uncertainty dampens stocks
10th Dec 2012 08:27
Political uncertainty in Italy and an economic contraction in Japan weighed on stock markets on Monday morning, as investors shrugged off some better-than-expected industrial production figures from China. A close eye will be kept on Italian bond yields today after the weekend's news that Prime Min
Read moreMonday broker round-up UPDATE
10th Dec 2012 07:10
Andor Technology: Investec moves target price from 450p to 460p, while reiterating its buy recommendation. Antofagasta: Alphavalue downgrades to reduce, while keeping the target price at 1371p. Ashtead Group: Investec target price from 250p to 475p and reiterates its buy recommendation. Atkins: J
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