Markets
New York - US indices advanced on Friday following positive corporate and economic news. The Dow Jones gained 50.03 points to 12,220.59, the S&P 500 added 4.14 points to 1,313.80 and the Nasdaq rose 6.64 points to 2,743.06.
Posted: March 28th, 2011 under Asset Management.
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Markets
London - The FTSE 100 rallied 84.99 points to 5,880.87 yesterday, erasing losses that followed Japan’s March 11 earthquake, after earnings from Kingfisher Plc and Next Plc beat estimates and Deutsche Bank AG recommended British retailers.
Posted: March 25th, 2011 under Asset Management.
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Markets
London - The FTSE 100 rose 33.17 points to 5,795.88 yesterday, as base metals advanced and minutes from the Bank of England’s last meeting reduced speculation of an imminent interest-rate increase. Minutes from the BOE’s March 10th meeting showed the bank saw “merit in waiting” to examine the effect of higher oil prices on inflation. Policy makers voted 6-3 to keep interest rates on hold this month. Gains were limited after Osborne said the British economy will grow more slowly than forecast in 2011 and the U.K. will need to borrow more than previously thought in the next five years. The Office for Budget Responsibility predicted annual growth this year of 1.7%, down from the 2.1% forecast in November.
Posted: March 24th, 2011 under Asset Management.
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Markets
London - The FTSE 100 fell 23.3 points to 5,762.71 yesterday, the first fall in four days as British inflation rose more than forecast and oil surged amid concern that unrest is spreading in the Middle East and North Africa. A report today showed U.K. inflation accelerated more than economists had predicted to the fastest pace in more than two years in February, adding pressure on the Bank of England to increase its benchmark interest rate. Oil traded near the highest price in more than a week as the airstrikes threatened to prolong a supply disruption.
Posted: March 23rd, 2011 under Asset Management.
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Markets
London - The FTSE 100 jumped 67.96 points to 5,786.09 yesterday, also boosted by progress in Japan. Vodafone Group Plc and BT Group Plc rallied more than 2% following news of the telecommunications merger in the US. Weir gained 4.5% to 1,708p as Credit Suisse upgraded the Glasgow-based engineering company to “outperform” from “neutral.” Essar Energy Plc slid 7.3% to 440.4p as the Indian oil refiner and power plant operator said it incurred delays in gaining approval for the development of some domestic coal blocks.
Posted: March 22nd, 2011 under Asset Management.
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