Markets
London - The FTSE 100 climbed 51.5 points to 5,969.21 yesterday ahead of the Federal Reserve’s rate decision. BG Group gained 3.4% to 1,372 pence. The U.K.’s third-largest energy producer said it discovered light oil in offshore Block BM-S-9 in the Carioca area of the Santos Basin. Anglo American Plc gained 2.6% to 3,155.5 pence as copper rebounded from its biggest drop in more than two months. BHP Billiton Plc, the world’s biggest mining company, advanced 2.2% to 2,446 pence, while Rio Tinto Plc gained 2.6% to 4,400 pence. Aggreko Plc gained 5.3% to 1,485 pence. Goldman Sachs Group Inc. initiated coverage of the world’s largest provider of mobile power supplies with a “buy” rating, citing potential growth “as power shortages in developing countries drive further demand for temporary power.” BP Plc declined 1.1% to 491.7 pence. Europe’s second-largest oil company was accused by oil-spill victims’ lawyers of breaching civil racketeering law by engaging in acts that lead to the worst such disaster in U.S. history.

Posted: January 27th, 2011 under Asset Management.
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Markets
London - The FTSE 100 fell 26.14 points to close at 5,917.71 this morning after the UK’s economy unexpectedly shrank the most in more than a year in the fourth quarter as construction slumped and the coldest weather in a century hampered services and retailing. Britain’s economic growth has lost momentum even before Prime Minister David Cameron’s government cuts public spending further to reduce the budget deficit. Gross domestic product fell 0.5% after gaining 0.7% in the third quarter. Lloyds Banking Group Plc led financial stocks lower, sliding 2.9% while Tesco Plc paced declines by retail stocks, falling 1.6%.

Posted: January 26th, 2011 under Asset Management.
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Markets
London - The FTSE 100 gained 47.6 points to 5,943.85 yesterday, extending gains from the previous session, as investors speculated government reports this week may show faster growth in the economy. A report today may show the U.S. Conference Board’s confidence index rose to 55 in January from 52.5 in December. Prior to that in the UK, GDP figures are published. Gross domestic product climbed at a 3.5% annual pace last quarter, from a 2.6% rate in the previous three months.

Posted: January 25th, 2011 under Asset Management.
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Markets
London - The FTSE 100 rose 28.34 points to 5,896.25 on Friday as a report showed German business confidence rose to a record in January, boosting the outlook for the European economy. German business confidence rose in January as booming exports to Asia and stronger household spending bolstered growth in Europe’s largest economy. The Ifo institute’s business climate index, based on a survey of 7,000 executives, rose to 110.3, the highest since records for a reunified Germany began in 1991

Posted: January 24th, 2011 under Asset Management.
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Markets
London - The FTSE 100 fell the most since November yesterday, losing 79.73 points to 5,976.70. Positive economic data wasn’t enough to stop a sell-off as investors soaked up the negative impact from the US. Jobless claims in the UK unexpectedly dropped in December to the lowest in 21 months and unemployment declined as Britain’s economic recovery persisted before public spending cuts take effect. In corporate news, British Airways Plc dropped 4.2% to 287.5 pence, the steepest drop in the FTSE 100. Chief Executive Officer Willie Walsh may face a sixth round of walkouts by 11,000 cabin crew that threatens to cast a shadow over a merger with Spain’s Iberia Lineas Aereas de Espana SA. The Unite union plans to announce the result of a month- long strike poll of flight attendants Jan. 21, the same day British Airways ends almost 25 years as a mainstay of the UK stock market before combining with Iberia next week. On the upside, Pearson rallied 4.5% to 1,051 pence, the biggest gain since July and best performance in the FTSE 100. The owner of the Financial Times and Penguin books raised its 2010 profit forecast for the third time, citing growth in emerging markets and digital services. Adjusted earnings will be about 76 pence per share, a 16% increase, the company said.

Posted: January 20th, 2011 under Asset Management.
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