Markets
London - The FTSE 100 is currently 68.20 points higher at 3,831.11. Marks & Spencer leads the rise after reporting sales that topped estimates, shares in the high street retailer are currently 8.7% higher. Compass rises 6.3% after reporting an increase in revenue while ICAP follows, adding 6.2%, after reiterating its pre-tax profit for the financial year will be in line with estimates. Kazakhmys adds 6%, although this was more to do with its 26% holding in ENRC than its full year results, which had few surprises. Eurasian Natural Resources Corp is 5% higher.

Posted: March 31st, 2009 under Asset Management.
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Markets
London - The FTSE 100 is currently 99.34 points lower at 3,799.51. Barclays tops the fallers’ board, down 9.3%, after Societe Generale recommended selling the shares. Cadbury also suffers a downgrade, courtesy of JPMorgan, pushing the stock down 3.4%. BHP Billiton is down 5.5% and Rio Tinto off 3.2% after copper prices retreated. Land Securities is the lone riser, after Goldman Sachs raised its rating on the stock to buy from Neutral.

Posted: March 30th, 2009 under Asset Management.
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Recent statistics from the Employment Tribunal Service show that the number of cases rose last year by 43%.  A total of 189,303 claims were accepted in 2007/2008, compared with 132,577 in 2006/2007.
Regular readers of Openbrief will know that the statutory dispute resolution procedures, which failed to achieve their purpose of reducing claims, will be abolished [...]

Posted: March 27th, 2009 under Employment/HR.
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Markets
London - The FTSE 100 is currently 7.50 points higher at 3,932.70. Lloyds and Barclays lead the risers after the Financial Times reported that Barclays won’t need to boost its capital levels. The FSA is in the final stages of testing Barclays loan portfolio and is set to conclude that the bank doesn’t need any new capital. Balfour Beatty climbs almost 4% after Morgan Stanley raised its rating on the stock to Equalweight from Underweight. Vodafone tops the fallers, down 2%, after burn downgraded the stock to unattractive

Posted: March 27th, 2009 under Asset Management.
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Markets
London - The FTSE 100 is currently 4.15 points higher at 3,904.40. Man Group rallies 10.9% after full year results that were in line with expectations, the hedge fund manager also maintained its dividend. Eurasian Natural Resources gains 4.9% after Bank of America raised its rating on the stock to buy from Neutral. Rio Tinto and Xstrata rise more than 3% after copper traded above $4,000 a ton in Asia. Kingfisher tops the fallers’ board down 4% after disappointing FY results and statement. International Power follows, down 3.8%, after Goldman Sachs cut its rating on the stock to sell from Neutral. Intercontinental Hotels falls almost 3% after Credit Suisse cut its rating from Outperform to Neutral

Posted: March 26th, 2009 under Asset Management.
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