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August 30, 2007
by Elaine Frei
Wheat prices hit another record high Thursday on the Chicago Board of Trade when December wheat was briefly up to the 30 cent daily limit to $7.885 per bushel before falling back slightly to close at a 26 cent gain to $7.845 per bushel.
Demand drove prices higher as US exporters sold 17 percent more wheat last week than ...
by Stewart Douglas
The US economy has seen some rare good news, with the announcement that its economy grew beyond analyst expectations over the second quarter despite the ongoing unrest in the sub-prime lending sector.
In figures released today by the US Commerce Department, the US economy was said to have grown at an annual rate of 4% over the second three month ...
by Elaine Frei
European equities markets were higher on Thursday‘s session. The FTSE Eurofirst 300 added 1.15 percent to 1,515.76. In Madrid, the IBEX gained 0.92 percent to 14,313.4, while the Dax was up 1.09 percent to 7,519.94 in Frankfurt and the Paris CAC-40 was 1.31 percent higher to 5,592.53. Utilities, the semiconductors sector, industrial gases providers and some retailers ...
by Kay Murchie
LogicaCMG, the Anglo-Dutch IT services firm, said its first-half adjusted operating profit dropped to £89.7 million, missing analysts' forecasts and reducing its shares. According to the company, margin pressures in France, along with weakness in the UK are responsible for the shortfall. The group's outlook for the market remained unchanged.
The first-half performance saw revenue growth in European markets including Germany and France, ...
by Kay Murchie
Figures from the Office for National Statistics (ONS) showed the fastest growth in company profits for more than a decade.
Driven by strong growth in business and financial services, gross domestic product (GDP) increased above its long-run average in the second quarter of 2007 – prior to the 8% fall in British stock prices over the past ...
by Kay Murchie
The video-sharing website, YouTube, has come to an agreement with British licensing organisations that collect royalties on behalf of 50,000 publishers, songwriters and composers.
At a recent press conference, the MCPS-PRS Alliance (which represents creators of more than 10 million pieces of music) disclosed the deal which will allow users of the Google site to integrate recorded music legally into ...
by Kay Murchie
Following the merger of Grant Thornton and RSM Robson Rhodes, the firm has created a new cross-discipline group known as the Financial Services Group.
Grant Thornton declares that the creation will form a credible alternative to the Big 4 international accountancy and professional services firms namely PricewaterhouseCoopers, Deloittes, Ernst & Young, KPMG.
The new group will replace the old ...
August 29, 2007
by Stewart Douglas
European Union authorities have today announced their decision to maintain current import tariffs on energy efficient light bulbs from China, which would otherwise flood the market and hinder internal industry.
The European Commission took the decision to maintain the tariffs which are designed to stop the market flooding with cheap Chinese import goods. At present rates, the tariff can increase ...
by Stewart Douglas
The Dow Jones came out all guns blazing this morning after renewed promises of a Federal Reserve interest rate cut reached the market.
After a torrential day of sell offs on the exchange yesterday, analysts had predicted that markets would continue on a downward trend throughout the course of the day.
Indeed, morning markets in Europe had traded nervously ...
by Elaine Frei
The yen was lower in relation to the US dollar on Wednesday, falling 0.8 percent to ¥115.10 against the US currency, mostly on institutional buying of the greenback by Japanese institutions such as insurers.
The yen also fell in relation to other currencies, dropping 1.1 percent to ¥157.05 in relation to the euro, falling 1.3 percent to ¥94.05 against the Australian dollar, ...
by Elaine Frei
Wheat prices were higher Wednesday on drought in the Ukraine and heat in Australia.
December wheat on the Chicago Board of Trade added 8.75 cents to $7.47 per bushel in midmorning trade, approaching record highs reached on 23 August, while on the Euronext.Liffe November milling wheat added €3 to €244 per tonne.
The Ukraine will export 58 percent less this year, while Australian wheat production ...
by Elaine Frei
Most Asia-Pacific equities markets were lower Wednesday. One of the few exceptions to the decline was in India, where the Sensex added 0.5 percent to 14,993.04. Elsewhere, the Kospi was 0.17 percent lower to 1,826.19 in South Korea, while Taiwan’s Taiex index fell 0.97 percent to 8,643.32. In Hong Kong, the Hang Seng was 1.47 percent lower to 23,020.6, ...
by Kay Murchie
European traders are concerned about events in the US and consequently shares have seen mixed trading today as US housing and credit woes continue to cast a shadow over global stock markets.
The UK's FTSE 100 index was up 24 points after initially falling 43 points to 6,126 by early afternoon. Germany's Dax lost 11 points to 7,419, the Dax was also ...
by Stewart Douglas
The Chinese consumer price index is said to be likely to outstrip the government’s target over the course of this year, according to an announcement made at a press conference today.
The announcement from Su Ning of the Chinese Central Bank described that it was looking likely that the Chinese CPI would grow by more than the 3.0% target set ...
by Kay Murchie
Building products maker, Titon, has announced that the financial performance for the full year to the end of September is likely to be below market expectations. However, trading in the first half to March was in line with expectations.
Since the interim period, operating margins have been affected by increases in raw material prices which the company has been unable to pass on to ...
by Stewart Douglas
Air China has today announced a tripling of profits over the first two quarters of 2007, according to reports from the region today.
The Chinese airline, owned by the government, has seen its profits skyrocket to around $205 million for the half ended June, compared to just around $70 million this time last year.
The airline has put much of its ...
by Stewart Douglas
The price of homes across England and Wales have grown at are slower pace through the month of July according to official figures released today.
In figures released by the Land Registry, house price inflation was shown to have come in at by 0.1% over the last month, taking the year on July house price inflation down to 8.8%.
However, ...
by Stewart Douglas
Market nerves continued to show through the course of trading this morning, with investors slow to commit to further investment in corporate securities.
Yet again, markets have awoken to fears of another bad day stateside, after continuing unrest in the sub-prime mortgage market, which has made investors in Europe shy away from buying.
Brokers from the investment bank Merrill Lynch have fuelled ...
by Kay Murchie
Profit warnings issued by UK-listed firms are at a 5-year high since the low point of the technology-led stock market crash in 2001. Research by Ernst & Young, the accountancy firm, has established that in the first 6 months of 2007, 191 companies cut earnings forecasts, 13% more than in the same period in 2006.
The main reason quoted for the ...
by Kay Murchie
Nationwide Building Society has announced that from 28 August, it has successfully merged with Portman Building Society. Nationwide will continue in its capacity as a mutual building society and, as a result of the merger, will become the UK’s second largest retail mortgage lender and second largest retail savings provider. Its member number is now around 13 million, while its assets now exceed ...
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