City dismisses fears of 8pc rates as rubbish

first_img Share Monday 23 August 2010 8:06 pm whatsapp KCS-content More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ His view is at odds with the consensus of City analysts, which sees interest rates rising to around two per cent by the end of next year and 3.5 per cent by the end of 2012.Jamie Dannhauser of Lombard Street Research said there was no way the BoE would allow money supply to expand at the rate necessary to bring a return to 1990s-style inflation. “It’s a complete load of rubbish,” he said. “It would involve the Bank being completely asleep at the wheel.”George Buckley of Deutsche Bank predicted a gradual tightening of 25 basis points per quarter from the start of next year. “If you get something like the Policy Exchange is suggesting you’re likely to see the consumer weaken very rapidly as debt interest payments rise,” he said. whatsapp ECONOMISTS yesterday rebuffed suggestions by an influential thinktank that interest rates could soar to eight per cent within two years, describing the claim as “complete rubbish”.Andrew Lilico of the Policy Exchange grabbed headlines by predicting a double-dip recession followed by a swift recovery. Lilico said monetary supply would surge in the upturn, fuelling inflation and forcing the Bank of England (BoE) to hike its central rate to eight per cent. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyBetterBe20 Stunning Female AthletesBetterBeCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fanautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd City dismisses fears of 8pc rates as rubbish Tags: NULLlast_img read more

CITY VIEWS: ARE YOU WORRIED ABOUT ANOTHER WAVE OF STRIKES?

first_img KCS-content CITY VIEWS: ARE YOU WORRIED ABOUT ANOTHER WAVE OF STRIKES? whatsapp Share JAMES DEVON | GEORGESON“I am not entirely worried about more strikes but I do expect more to happen as it seems to be a growing trend at the moment. But they seem to be causing less impact now as companies are coping. I beat the tube strike by taking thetube!”SONY DHOKIA | TOUCH ONE ADVERTISING“I am worried that more strikes will happen, mainly because I think people are going to continue disputing low pay and now seems like the perfect chance to take action because of therecession.”RENATO RODRIGUES | BLP INSURANCE“I think another wave of strikes is likely and I worry that strike action will inevitably cause distress. Unions should be sensitive to the state of the economy. Take a company like BA, which is really being harmed by strikes.”RICHARD GRAINGER | TORUS INSURANCE“I am not worried about more strikes but there seems to be a tendency now to move towards pro-actively taking strike action, which is naïve given the current economic climate. I do think there will be more strikes.” Monday 13 September 2010 7:42 pm whatsapp Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPuffer fish snaps a selfie with lucky divernypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com Tags: NULLlast_img read more

Imperial Tobacco says it is on target for forecasts

first_img whatsapp Imperial Tobacco says it is on target for forecasts IMPERIAL Tobacco Group said yesterday it had suffered no further deterioration in volumes in its fourth quarter.Full-year volumes at the Lambert & Butler and Fortuna maker were down by around the same 4.3 per cent seen at the nine-month stage, contrasting with its statement in July when it reported volumes had worsened from a 3.7 per cent drop in its first half.The tobacco group has been hurt by volume falls in Russia, Spain, Ukraine and the United States, but expects price rises to offset that declining trend and forecasts tobacco revenue will be up three per cent in its year to end-September.Analysts said the solid trading statement gave support to Imperial shares, which have underperformed the FTSE 100 by six per cent this year and rival British American Tobacco by almost 20 per cent. The stock rose just over one per cent after the trading statement. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ KCS-content center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Share Wednesday 22 September 2010 7:37 pm Tags: NULLlast_img read more

Heathrow traffic climbs as long haul flights rise

first_img Heathrow traffic climbs as long haul flights rise by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesPeople-TodayWoman Files For Divorce After Seeing This PhotoPeople-Today KCS-content Tags: NULL HEATHROW Airport posted record September traffic figures after 6.2m people used the UK hub, raising hopes of an air industry recovery.Passenger numbers at Heathrow were up by 7.6 per cent last month, marking the largest yearly increase since July 2004, according to airports operator BAA.Heathrow saw more passengers flying to Brazil, India, Russia and China compared with last year. Passengers flying to Brazil were up by almost a third to 31,546 compared with 2009, while flights to Russian destinations saw a 23.7 per cent rise in passenger numbers. North American destinations reported a 6.5 per cent rise in passengers, while 16.4 per cent more people flew to South America. European figures improved by 11.7 per cent. Colin Matthews, chief executive of BAA, said: “The growth reflects an improved outlook for our airline customers and an increase in business confidence.”BAA now owns six airports – Heathrow, Stansted, Southampton, Glasgow, Edinburgh and Aberdeen – after it sold Gatwick for £1.5bn in December 2009 to US investment fund Global Infrastructure Partners. whatsappcenter_img Show Comments ▼ Share whatsapp Monday 11 October 2010 8:43 pm More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comlast_img read more

Osborne gets boost from 35 top business leaders over spending cuts

first_img DOZENS of business leaders have backed George Osborne’s swingeing spending cuts, saying hesitation could cost £100bn in extra debt, more taxes and an increase in the rate of interest.A total of 35 captains of industry, including BT chief executive Ian Livingston and Asda chairman Andy Bond, penned a letter to the Daily Telegraph urging the government not to back away from its tough plans to tackle the budget deficit.The letter reads: “The cost of delay is enormous, and would result in almost £100bn of additional national debt by the end of this Parliament alone. In the end the result of delay would be deeper cuts, or further tax rises.”The backing of the City is a welcome boost to Osborne ahead of Wednesday’s spending review. Osborne gets boost from 35 top business leaders over spending cuts Show Comments ▼ Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Sunday 17 October 2010 11:37 pm KCS-content Tags: NULL whatsapp whatsapplast_img read more

Germans say no to beefing up euro fund

first_img whatsapp Tags: NULL Germans say no to beefing up euro fund Monday 6 December 2010 9:10 pm EU finance ministers clashed yesterday over how to tackle the Eurozone debt crisis.At a crunch meeting in Brussels yesterday ministers from the 16 Eurozone countries discussed how to reassure markets following the bailouts in Ireland and Greece and persistent fears over Portugal and Spain.German chancellor Angela Merkel rebuffed calls for a bigger financial safety net, setting a collision course with the International Monetary Fund (IMF), with its chief Dominique Strauss-Kahn urging ministers to increase the size of the €500bn (£424bn) bailout mechanism for debt-stricken states. The IMF said: “The recovery could still stay the course, but this scenario could now easily be derailed by the renewed financial market turmoil. There is a strong case for increasing the resources available for this safety net and making their use more flexible, including for the purpose of providing more effective support to banking systems.”But Merkel was adamant she will not explore the possibility of injecting more cash into the European Financial Stability Facility. She said: “I see no need at this time to increase the fund. Only a very small percentage of it has been used.” Some diplomats say putting more money on the table now might be interpreted as a sign that the EU is preparing for a possible bailout of Spain, the Eurozone’s fourth largest economy, and could aggravate market tensions.She was supported by Dutch finance minister Jan Kees de Jager, who said it was premature to discuss what would happen if the fund ran out of money. He said: “Only one tenth of the of the total volume is now being accessed through the program so I think it is a little bit premature to already talk about what would happen if there are no more funds available. We have already stated that we will stand behind the euro and we will do everything to defend it.” Show Comments ▼ Sharecenter_img KCS-content whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemlast_img read more

Travis Perkins keeps target as revenue rises

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap whatsapp John Dunne Builders merchant Travis Perkins said turnover for the 11 months to the end of November rose 6.5 per cent and kept its outlook unchanged, as it prepares to complete its takeover of BSS Group.The company also saw an improvement in sales trends in the last two months to 30 November, although it expected the poor weather in December “to have some impact on our sales trends and financial performance for the last month of the year.”It added, however, that it was keeping its outlook for the full year unchanged.Total turnover in its merchanting division rose 8.3 per cent while like-for-like turnover per trading day was up 7.8 per cent. Turnover per trading day for the last two months to 30 November jumped 10.5 per cent.Gross margins for the second half of the year to date are in line with the trend of the first six months, slightly below last year, said the company.In Wickes, total turnover for the 47 week trading period to November 27 was up 2.7 per cent with like-for-like turnover per trading day up 0.6 per cent.In the last eight weeks, however, like-for-like turnover per trading day in Wickes rose 4.2 per cent as shoppers showed evidence of buying ahead of the government’s VAT increase, the company said.Travis Perkins also expects to complete its acquisition of BSS Group. When completed, the deal will create the country’s biggest plumbing and heating trade and retail distribution. Travis Perkins announced the deal for £558m in July.The company also said its underlying net debt, before the acquisition of BSS Group, fell in the fourth quarter from the £410m reported on 30 June. Show Comments ▼ Share whatsapp Travis Perkins keeps target as revenue rises Tuesday 14 December 2010 3:48 am Tags: NULLlast_img read more

Banker linked to WikiLeaks goes on trial

first_imgWednesday 19 January 2011 8:17 am Share whatsapp alison.lock Former Swiss banker Rudolf Elmer has started his trial for breaching bank secrecy, admitting he sent private client data to tax authorities but denying blackmail and a bomb threat against Bank Julius Baer.Elmer, 55, among the first to use WikiLeaks to publish private bank documents, said he took his information to the website after Swiss authorities failed to act on it.“The ethics of business leadership on both sides of the Atlantic have disappointed me,” he said, adding that he wanted to expose illegal offshore activity in the Cayman Islands.Elmer said Baer waged a campaign of “psychoterror” against him and his family and offered him 500,000 Swiss francs (£325,000) to keep quiet. He said he had never taken payments in return for secret data.But he admitted writing anonymous emails in 2005 threatening to send client details to tax authorities and the media if Julius Baer did not stop unspecified actions against employees.“The situation was very threatening. We were very scared and I thought the bank was behind it. That is why I sent the emails,” Elmer told the court.Wearing a black suit and a red shirt, Elmer also admitted charges that he sent details of tax evasion to Swiss tax authorities, but he denied he made a bomb threat against the Zurich headquarters of his former employer, Julius Baer, threatened a Baer employee and tried to blackmail the bank.Prosecutor Alexandra Bergmann said the reason Elmer denied those charges was because they contradicted a defence strategy that he acted out of altruistic and public interest motives.Elmer’s lawyer Ganden Tethong Blattner said her client and his family had paid for standing up to a powerful opponent.“This is the story of a man who discovered misdeeds and was under constant surveillance for more than a year. This great pressure was aimed at silencing him,” she said.Tethong Blattner accused Swiss prosecutors of uncritically adopting evidence provided by Julius Baer’s private investigators without doing their own investigations.Julius Baer says Elmer waged a “campaign of personal intimidation and vendetta” against the bank after it refused his demands for financial compensation following his 2002 dismissal.Prosecutors are asking for Elmer, who ran Baer’s office in the Cayman Islands until he was fired in 2002, to be sentenced to an eight-month jail term and to pay a 2,000 franc fine. A verdict is expected later today.Wednesday’s case does not concern his publication of bank data on WikiLeaks, but earlier alleged breaches of bank and corporate secrecy in Switzerland and threats against Baer. whatsapp Banker linked to WikiLeaks goes on trial by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Show Comments ▼ Tags: NULLlast_img read more

French giant has started to lose edge

first_img Tags: NULL French giant has started to lose edge CARREFOUR’S executives certainly need to do something to revive the retailer’s flagging fortunes. Anyone who has holidayed in France regularly over the last few years will have noticed that the supermarket giant is losing its edge. It used to be that one of the pleasures of hopping across the channel was a trip to l’hypermarché – with its counters of fresh cheeses and meats – which put most British supermarkets to shame. That’s not true any more: the best branches of Tesco and J Sainsbury can take on Carrefour any day. Of course, they aren’t strictly competing for the same customers in their domestic markets, except in Calais, perhaps. But it does show that something has gone wrong at the French supermarket in recent years. The numbers tell a similar story. Carrefour posted revenue growth of 5.8 per cent last year, or 1.6 per cent when you strip out fuel sales, compared to 7.6 per cent for Tesco.The markets certainly think there is more value in the British leader. Even though Tesco has lower annual sales (£62.5bn in 2009-10 compared to £73.2bn for Carrefour), it still has a higher market capitalisation (£32.33bn against £20.5bn, and that’s with a weaker pound). A flotation or sale of around half of Carrefour’s discounter Dia is an idea worth pursuing: a leaner business could take better advantage of opportunities in emerging markets like Turkey, Brazil and Argentina. Analysts at RBS reckon a sale of 49 per cent of Carrefour Property and Dia would raise €5bn (£4.29bn), while an IPO of 49 per cent of each business would raise €7.8 a share.That is certainly more attractive than management’s strategy of cutting costs while maintaining €1.5bn of investment in Carrefour’s French stores. The sum of the parts is likely worth much more. Show Comments ▼ Monday 31 January 2011 8:08 pm Share whatsapp KCS-content More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapplast_img read more

FTSE closes above 6,000 as traders pick miners and banks

first_img Show Comments ▼ FTSE closes above 6,000 as traders pick miners and banks Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBeBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp BANKS and miners pushed Britain’s top share index higher yesterday, lifted by further proof that the economic recovery in the United States is on track. The FTSE 100 index closed up 42.25 points, or 0.7 per cent, at 6000.07, extending Tuesday’s 1.6 per cent rise.The index has recovered from a sharp dip at the beginning of the week as the focus has shifted from the political troubles in the Middle East to the health of the global economic recovery.Yesterday’s strong reading on the labour market in the United States backed up strong manufacturing data on Tuesday from the world’s biggest economy, and gave a steer ahead of Friday’s January US jobs report. The data shored up investor appetite for riskier assets such as mining stocks, which had been dented due to fears over the impact of the political unrest in Egypt.ENRC added 3.8 per cent after the miner reported a rise in fourth-quarter ferroalloy production.Miners Lonmin and Rio Tinto were also among the top risers yesterday, climbing 4.1 and 3.8 per cent respectively. Banks saw good support on the back of improved investor sentiment, with Standard Chartered up 1.7 per cent.There was promising news from the Europe, where Germany and France reached a consensus on steps to boost economic coordination within the Eurozone as part of a comprehensive anti-crisis package that will also see the scope of Europe’s bailout fund bolstered.“Investors are looking for more proper answers to all the issues that are still there from the financial crisis,” said Lothar Mentel, chief investment officer at Octopus Investments. “Once they have been answered, then those doom-mongers will have a less of an argument to cause these short-term stampedes,” he said, referring to recent volatility on the FTSE 100.Chipmaker CSR rose 2.9 per cent after its rival Broadcom speculated that Qualcomm, another chipmaker, could buy the British company to bolster its Bluetooth and FM radio range.Imperial Tobacco added 5.9 per cent after the cigarette maker surprised investors with a return to volume growth in the last quarter of 2010.“We think this should put a stop to the recent rot in the share price and create a platform for a more balanced ticket of top line delivery in FY11,” Investec Securities said in a note.Peer British American Tobacco added 1.4 per cent.On the second tier, Pace, the world’s largest maker of set-top boxes, gained 10.6 per cent after traders highlighted a newspaper report saying the British firm has won a key contract with an Indian pay-television provider.On the downside, defensives such as International Power, down 3.4 per cent, were among the top fallers yesterday. National Grid shed 2.1 per cent as Investec kept its “sell” rating on the utility, saying Ofgem’s seminar on Tuesday only served to highlight the regulatory uncertainty facing the industry.Drugmaker AstraZeneca and TUI Travel fell 2.8 and 1.8 per cent respectively after going ex-dividend.GKN dropped 4.9 per cent after broker Credit Suisse suggested that their profit margins were at risk from rising commodity prices. center_img whatsapp Wednesday 2 February 2011 7:28 pm KCS-content More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sharelast_img read more