- Asian stocks gained for a second day as Google Inc's largest acquisition boosted technology shares and valuations near the lowest level since 2008 drew investors. The MSCI Asia Pacific index rose 0.5% at 3.12pm in Tokyo.
- Goldman Sachs ended down $6.92 at $160.87 on speculation that it would be hit by the plan to limit investment banks' hedge fund and private equity operations. Goldman does invest its own capital in hedge fund client operations.
- Google reported earnings of $1.97bn or $6.13 per share in Q4 2009 and gave a positive outlook. The revenue numbers matched analyst forecasts helping the stock rise $2.57 to $582.98.
- Witan Investment Trust, which hit a 52 week low earlier this month, said its performance outstripped its benchmark in the first half of 2011. The company's net asset value total return was 3.6%, a relative out-performance of 0.6% over the FTSE All-Share index.
- Life assurance firm Resolution saw IFRS-based operating profit before tax shoot up to £390m in the first half of 2011 from £151m the year before. Operating profit on an MCEV basis was unchanged at £180m.
- John Menzies has reported an interim pre-tax profit of £21.4m on revenues up 2% to £941.9m with Menzies Aviation now accounting for more than half of group earnings.
- Water company Pennon said financial performance since the end of March has been in line with management expectations.
- German Chancellor Angela Merkel's meeting with French President Nicolas Sarkozy today comes as investors look for indications that they will do more to address the euro area's debt crisis.
- Crude for September delivery was up on the New York Mercantile Exchange at a high of $87.88 a barrel, up $2.50 from the previous close.
- Gold put an end to its two day losses, closing higher after being buoyed by a week dollar. The December contract was up 0.88% at $1,758.00 an ounce, while silver platinum and copper were also heading the same way.
- The Swiss currency tumbled against the common currency, with the euro buying SFr.1.1331 towards the end of Monday's trading in New York, up from SFr.1.1086 in Friday afternoon trading.
- Google to buy Motorola Mobility for $12.5bn in bid for more patent protection in mobile market.
- ECB confirms it spent record $32bn buying bonds last week.
- The Competition Commission has cleared the merger of Thomas Cook with the Co-Operative Group.
- Polo Resources is to pay a special dividend of 2p per share after it completes the sale of its Caledon Resources stake.
|Highlights of the day|
- The German economy, Europe's largest, almost stalled in the second quarter as the region's sovereign debt crisis weighed in confidence. Gross domestic product, adjusted for seasonal effects, rose 0.1% from the first quarter, when it jumped a revised 1.3%, the Federal Statistics Office in Wiesbaden said today.
- Warren Buffet's Berkshire Hathaway Inc. increased its stake in Wells Fargo & Co, building equity holdings amid a markets decline that the billionaire investor said provided an opportunity for buying stocks on sale.
- The FTSE 100 has opened down 31.3 points, or 0.58% and is currently trading at 5319.3 points.
|Michael Page||Goldman ||Neutral ||575p |
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|Key Data Releases Today|
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|9.30||UK Monthly Inflation Figures, CPI Monthly||-0.1%||-0.2%|| |
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|When you invest in Shares you may not get back your original investment. With regards to CFD and FX margin trading, there is the potential to actually lose more than your initial deposit.|| |
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