Markets
London - The FTSE 100 climbed 22.02 points to 5,718.13 on Friday after Group of Seven countries agreed to intervene in Japan’s foreign exchange market as the country battles to control a nuclear accident. National Grid rose 4.4% to 577p as Credit Suisse upgraded energy-utility shares to “small overweight” from “underweight.” Centrica Plc climbed 3.2% to 328.5p as Goldman Sachs Group Inc. added the stock to its “conviction buy” list. Amec Plc gained 1.5% to 1,128p as Investec Plc rated the shares “buy” in new

Posted: March 21st, 2011 under Asset Management.
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Markets
London - The FTSE 100 rallied 97.88 points to 5,696.11 yesterday, rebounding from a six-day sell off. BHP Billiton Ltd. and Xstrata Plc rallied more than 3% in London as copper climbed on optimism that demand from Japan will increase. Outside of the FTSE 100, SIG surged 7.8% to 130.5p after Europe’s biggest supplier of insulation said trading for the first two months of this year was in line with its forecasts and exceeded trading in the year-earlier period. The company also plans to resume paying dividends after suspending them to reduce debt and conserve cash. Heritage Oil rallied 8.2% to 313.5p after the Financial Times reported that the company has rejected an informal £1.2 billion offer from an unidentified Abu Dhabi-based company. The newspaper cited a person familiar with the situation. Heritage’s chief financial officer and head of investor relations were not available to comment.

Posted: March 18th, 2011 under Asset Management.
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Markets
London - The FTSE 100 slid 97.05 points to 5,598.23 yesterday, its longest stretch of declines in more than two years, led by a sell-off in financial and basic resource companies as Japan battles to prevent a nuclear meltdown. Stocks extended the sell off after the European Union’s energy chief, Guenther Oettinger, said the power plant risks provoking a “major disaster.” He said his assessment was based on information from the EU mission in Tokyo, the International Atomic Energy Agency and media reports. Barclays led financial shares lower, falling 3.4% to 282p. Prudential slid 3.1% to 673.5p while asset manager Schroders Plc declined 2.3% to 1,691p. Anglo American, the world’s fourth-largest diversified mining company, dropped 2.5% to 2,954.5p. Xstrata, the world’s fourth-largest copper producer, slid 1.4% to 1,329p and BHP Billiton Ltd., the world’s biggest mining company, declined 1.6% to 2,213p. IAG led airlines lower. The parent company of British Airways retreated 3.5% to 212.9p, EasyJet Plc fell 1.5% to 333.4p.

Posted: March 17th, 2011 under Asset Management.
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Markets
London - The FTSE 100 dropped 79.96 points to 5,695.28 yesterday tracking declines in global equity markets, amid concern that a Japanese nuclear power plant will leak radiation. Burberry retreated 1.2% to 1,110p, extending yesterday’s 4.3% drop on concern that sales in Japan may suffer. Antofagasta Plc, Vedanta Resources Plc and Rio Tinto Group paced losses among raw- material producers as copper, nickel, tin and lead prices dropped on the London Metal Exchange. International Consolidated Airlines Group, the parent company of British Airways, sank 4% to 220.7p, the lowest level since September. German rival Deutsche Lufthansa AG rerouted its Tokyo flights to the southern-Japanese cities of Nagoya and Osaka, citing the risk of nuclear fallout and aftershocks.

Posted: March 16th, 2011 under Asset Management.
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Markets
London - The FTSE 100 dropped 53.43 points to 5,775.24 yesterday. Companies with exposure to Japan were among the biggest losers, led by Burberry amid concern that sales will suffer. Aviva Plc and Resolution Ltd. led insurers lower. However, BG Group Plc and Aggreko Plc rose 3.7% and 8.2% respectively as UBS AG said they may see extra sales as a result of higher demand for temporary power.

Posted: March 15th, 2011 under Asset Management.
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