 |
| | |
| | | Today's News | - US stocks recouped losses with the Dow closing up 20.4 points at 11,691.2
- US investors were encouraged by the FOMC statement that signalled that buying of US bonds would continue until the recovery strengthens. The Federal Reserve is concerned about US unemployment which stands at 9.8%.
- Sterling is modestly higher at €1.1768 and $1.5606
- US crude oil prices fell 56 cents to $88.84
- HMV is to close 60 UK stores after a weak Xmas performance which saw 11.9% sales decline in the UK and a 10.2% drop in overseas operations. The board has identified £10m of annual savings.
- Qantas is to resume Airbus A380 flights between Australia and Los Angeles from January 17th 2011.
- It has emerged that Facebook's $50bn valuation, attributed to it by Goldman Sachs is approximately 25x Facebook annual revenues.
- Next has confirmed its profit forecast for the year ending January 2011 with pre-tax profit between £540m-£555m. Next estimates it lost £22m due to the snow.
- Panmure Gordon said its US and UK performance improved during the second half of 2010.
- EU corporate default costs rose slightly this morning - the iTraxx Crossover index was 4bp wider at 415/419 bps.
|
| | | Highlights of the day | - Some Asian stock indices have closed lower, the Nikkei fell 17.3 points to 10,380.8, the South Korean KOSPI index fell 2.6 points to 2,082.6
- Barclays is planning a 10 year euro covered bond.
- BHP shares are down 40p at 2513p on concerns over the Queensland floods
| | | | Co. | Broker | Recommendation | Price Target | | Brit Airways | DB | Buy | 330p | | Next | Altium | Buy | 2600p | | Imp Tobacco | Investec | Buy | 2200p | | Aegis | RBS | Hold | 150p | | BSkyB | RBS | Buy | 840p | | Compass | MS | Equalweight | 610p | | St James Pl | UBS | Buy | 334p | | | | | | | | | | |
| | | | Key Data Releases Today | | | | Prev | Fcst | Cons | | 15:00 | US ISM Non-Manufacturing Index | 55 | 56 | 55-57 | | | | | | |
|
| | | | FTSE 100 |  | | | | BP |  | | | |
| |
| | |
|
| This document has been issued by Collins Sarri Statham Investments Ltd (CSSI) for information purposes only based on publicly available information and should not be construed in any circumstances as an offer to sell, or solicitation of any offer to buy any security or other financial instrument, nor shall it, on the fact of its distribution, form the basis of, or be relied upon in connection with any contract relating to such action. This document has no regard to your specific investment objectives, financial situation or needs. The information contained herein is based on materials and sources that we believe to be reliable however we make no representation or warranty, either express or implied, in relation to the accuracy, completeness or reliability of the information contained herein. Please note that the figures shown may in some instances be rounded to the nearest penny. Prices can move sharply from those quoted in this document. Current prices can be verified by calling one of our Brokers. CSSI is under no obligation to update the information contained herein. Neither CSSI, nor its affiliates, nor its employees shall have any liability whatsoever for any indirect or consequential loss or damage arising from the use of this document. |
| Please note to unsubscribe from the Morning Call click here http://www.css-investments.com/unsubscribe |
