Markets
London - The FTSE 100 rallied 70.73 points to 6,056.43 yesterday, the first gain in four days as euro-area finance ministers agreed to strengthen the region’s rescue fund, spurring confidence in a recovery from the sovereign-debt crisis. Finance ministers from six countries with AAA credit ratings met yesterday to discuss ways of getting the euro area’s 750 billion-euro ($1 trillion) rescue fund to its full potential instead of setting aside some of the money as collateral. Boosting the fund’s size was ruled out for now, but investors seemed reassured that steps are being taken to be more proactive. Burberry Group Plc was the biggest gainer in the FTSE 100 climbed 5.3% to 1,115 pence. The U.K.’s largest luxury retailer reported that sales for the three months ended Dec. 31 rose 27% to 480 million pounds ($765 million). Adjusted full-year profit will exceed the company’s previous estimate, Burberry said. SABMiller rose 1.7% to 2,209 pence after the brewer said so-called organic lager volume, which excludes the effect of acquisitions and disposals, rose 3% in the third quarter. Shire Plc advanced 2.9% to 1,674 pence. The U.K.’s National Institute for Health and Clinical Excellence approved the use of Reminyl for patients with mild or moderate Alzheimer’s disease.

Posted: January 19th, 2011 under Asset Management.
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Markets
London - The FTSE 100 fell 16.37 points to 5,985.7 this morning as the European Union’s finance chiefs began a meeting to work on a new strategy to contain the sovereign debt crisis. Barclays Plc fell 1.4% and Schroders Plc, Europe’s largest publicly traded fund management company, plunged 2.4% as financial companies retreated. ARM Holdings Plc, which designs chips for Apple Inc.’s iPhone, slid 3% after Apple Chief Executive Officer Steve Jobs was granted a medical leave of absence. Autonomy Corp., the U.K.’s second- largest software company, tumbled 5.1%.

Posted: January 18th, 2011 under Asset Management.
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Markets
London - The FTSE 100 fell 21.81 points to 6,002.07 on Friday paring the benchmark FTSE 100 Index’s weekly advance, after China boosted bank reserve requirements to cool economic growth. Anglo American Plc and Xstrata Plc led raw-material companies lower. Inmarsat Plc slid 2.4 percent amid concern the LightSquared Inc. wireless network will be delayed by U.S. regulators. ARM Holdings Plc rallied 5.3 percent after Intel Corp.’s sales forecast beat analysts’ estimates.

Posted: January 17th, 2011 under Asset Management.
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Markets
London - The FTSE 100 rose 36.69 points to 6,050.72 yesterday, its highest level since June 2008, amid optimism the economic recovery will continue and speculation that European governments will step up measures to ease the region’s sovereign-debt crisis. European governments are considering aid for Portugal, debt buybacks, lower interest rates on rescue loans and guarantees against excessive debt as part of a package to quell the financial crisis, according to two people with direct knowledge of the talks. The plan may include a loan to Portugal of about 60 billion euros and purchases of outstanding Greek debt. HSBC rallied 3.8 percent to 715 pence, the biggest gain in five months after Barclays, which rates the shares “overweight” with a price estimate of 850 pence, said the bank benefits from a “combination of balance sheet strength and a strong emerging markets franchise.” Xstrata gained 1.7 percent to 1,535 pence and Rio Tinto climbed 2.2 percent to 4,542.5 pence as copper, zinc lead and nickel advanced. Kazakhmys rose 3.7 percent to 1,671 pence as Deutsche Bank AG upgraded the shares to “buy” from “hold.”

Posted: January 13th, 2011 under Asset Management.
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Markets
London - The FTSE 100 climbed 57.73 points to 6,014.03 yesterday also boosted by Japan’s decision to invest in Eurozone bonds. Gains were broad based, with banks among the biggest risers after brokerages advised buying the shares. HSBC gained 2.4% to 688.7 pence as Citigroup Inc. upgraded the shares to “buy” from “hold,” saying the bank may increase its dividend. Barclays climbed 5.5% to 292 pence as BofA Merrill Lynch Global Research reiterated its stance to buy the shares and raised its price estimate 35%. London Stock Exchange Group Plc rallied 5% to 906 pence as Europe’s oldest independent bourse said it will shift to a new trading system on Feb. 14 after a series of delays.

Posted: January 12th, 2011 under Asset Management.
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