Breaking News in association with Money AM

Monday, 16th November 2009

Barratt sees house selling prices rising 8%-10% this year

7:32am
Housebuilder Barratt Developments said the stability in the UK housing market seen in the first half year has continued into the current period. The group said it is achieving its target net reservation rate with prices ahead of budget.

In the period from 1st July to 8th November, visitor levels per active site averaged 1.88 per week (2008: 1.88), with net private reservations averaging 204 per week (2008: 197).

The net private reservation rate for the period equates to 0.55 homes per active site per week (2008: 0.41). These reservation rates include...

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The Press Roundup

7:02am
A brief summary of Tuesday's main business news.......... Includes comment on the tumbling dollar and fears for Christmas retail sales, with tips for Amlin and Genus

Financial Times

Bernanke reassures markets on dollar

Dollar relapse pushes gold to new peak

Lehman seeks $10bn clawback in Barclays suit - Lawyers claim revised contract created loopholes

High-flying currency hits eurozone companies - Bloc suffers steeper profit falls

StanChart chief rails at bank...

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FTSE tipped to open modestly lower as profit-takers emerge

7:02am
PRE-OPEN REPORT: Headline shares are tipped to open twenty-eight to thirty-four points lower today, according to financial websites, ahead of UK inflation data, with investors taking profits after yesterday's strong gains.

US & ASIA

In the US last night, the Dow ended up 136 points at 10,407, the Nasdaq Composite added 30 points at 2,198 and the S&P500 was ahead 16 points at 1,109.

In Asia today, the Nikkei was down 49.21 points at 9,741.97, while the Hang Seng ended the morning off 101.15 points at 22,842.83.

...

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FTSE ends sharply higher, thanks to surging miners

5:02pm
END-OF-DAY REPORT: Headline shares ended the session sharply higher, led by a surge in mining stocks as metals prices rebounded, with gold hitting a new high, and with property issues making progress.

At the close of play, the FTSE100 was up 86.29 points at 5,382.67 with the FTSE250 ahead 149.53 points at 9,523.27 and the FTSE Smallcaps 19.81 points better at 2,844.9.

NEW YORK

US stocks were higher in late morning trade, after news October retail sales surged on the back of strong car sales....

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FTSE adds to early gains midday as miners thrive

12:47pm
MIDDAY REPORT: Headline shares added to opening gains by midday, led by a surge in mining stocks as metals prices rebounded, with gold hitting a new high, and with commercial property issues making progress.

At high noon, the FTSE100 was up 58.64 points at 5,355.02 with the FTSE250 ahead 74.62 points at 9,448.36 and the FTSE Smallcaps 10.98 points better at 2,836.07.

NEW YORK

US stock futures moved higher ahead of retail sales data and a speech from Fed Chairman Ben Bernanke.
Continue reading...

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Broker News

12:02pm
Aviva was today upgraded to overweight from equalweight at Morgan Stanley, with the target price raised to 593p from 445p, and AMEC was downgraded to hold from buy at SocGen.

AstraZeneca initiated with buy rating at Deutsche.

Burberry downgraded to hold from buy at Investec.

GlaxoSmithKline started with hold rating at Deutsche.

ICAP raised to buy from sell at Panmure Gordon, target price upped to 510p from 375p.

ITV upped to buy from sell at Deutsche.

Kingspan raised to buy from add...

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