FTSE 100 Results Round-up – 27/02 February 27, 2013 Weir Group, the engineering company, has released full year results for the year ended December (results). They saw pre-tax profits rise from £396.3m to £443.1m. Chief executive Keith Cochrane has said that 2013 will bring more challenging markets. ITV, the media company, has released full year results for the year ended December (results). The [...]
Gold prices spike overnight February 27, 2013 As we discussed yesterday, gold prices will move upwards when markets expect inflation. This happens as gold is seen as a good store of value. They did exactly that overnight. Our reporter Julian Harris writes: The price of gold rebounded sharply last night after US Federal Reserve chief Ben Bernanke leapt to the defence [...]
Centrica’s residential energy profits heat up February 27, 2013 Centrica, the utility company, has released results for the full year to the end of December (results) and have announced a headline 11 per cent increase in profits in residential energy supply. Phil Bentley is to step down as managing director of British Gas by the end of June and will leave the company by [...]
How an Isa could earn you a million February 26, 2013 The route to tax-free prosperity is simple AS THE end of another tax year approaches, there is still time for investors to shelter up to £11,280 from taxation. But with most experts predicting cash Isas will undershoot inflation, it is surprising that, although close to half of the UK’s adult population holds an Isa, very [...]
High-yield debt is higher risk but can offer rewards February 26, 2013 Junk bonds may still be an attractive option for income investors INCOME investors have been hard hit by the financial crisis. The response of policymakers – injecting cheap money into the economy through monetary easing – has squashed yields to record lows. Now “safe” assets – like gilts or cash – return negative real yields. [...]
Italian results offer few reasons for market optimism February 26, 2013 CAPITAL COMMENT LAST week, my column considered what the Italian elections might mean for the financial markets. I noted that there was a broad feeling that we were only witnessing the quiet before the storm. And by the way the markets have reacted since, it’s clear that few were prepared for the actual outcome. We [...]
Bernanke says Fed’s balance sheet isn’t the biggest February 26, 2013 In replying to Senator Shelby about the size of the Fed's balance sheet, Fed chairman Ben Bernanke said "there are other central banks whose balance sheets have been this large, such as Japan." Perhaps he's not choosing a great example there. Bernanke suggested that the Fed has thought through how to unwind QE without damaging long-term [...]
Italian parties rule out alliances February 26, 2013 Italy looks to stay in gridlock for a while longer as various groups have now confirmed that they are not looking for alliances. Beppe Grillo, the anti-politics third candidate has Tweeted (still preferring to avoid the mainstream media) that he is not interested in coalitions. Pier Bersani, leader of the centre-left coalition has now confirmed [...]
Lord Rennard statement following sexual harassment allegations February 26, 2013 This follows news that Scotland Yard will investigate the sexual harassment allegations made against Lord Rennard. This statement has been released via a spokesman: Lord Rennard refutes these allegations. He will co-operate with any properly constituted inquiry. He has been notified of an internal investigatory panel within the Party. The matter must now be regarded [...]
Bernanke to push ahead with asset purchases February 26, 2013 In his prepared statement for testimony to the Senate, Bernanke has dropped great big hints that QE is to continue, saying that: In the current economic environment, the benefits of asset purchases, and of policy accommodation more generally, are clear