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Credit crunch and housing slowdown impacts FTSE reshuffle
Alliance & Leicester, Tate & Lyle, Home Retail Group and Persimmon have been relegated from the FTSE100 and replaced with Petrofac, Ferrexpo, Drax Group and Invensys in today's (Monday 23rd June) quarterly indices reshuffle.
Egg launches new FTSE Guaranteed Equity Bond
Egg, the Citi owned UK online bank, is launching a new three-year Guaranteed Equity Bond paying a 26% return (equivalent to 8.01% AER) in the event of ANY growth in FTSE 100 over the next three years, with no risk of losing capital invested if the bond is held for the full investment term.
Newcastle launches 7% Fixed Rate Option Bond
Newcastle Building Society announced the launch of its new Option Bond, with a fixed rate of 7% Gross/AER on a minimum investment of £500.
Equity tracker funds - incomes under threat
Graham Ashby, Head of Retail UK Equities at Credit Suisse, warns investors that UK equity tracker funds are increasingly exposed to the Oil & Gas and Mining sectors and levels of income are under threat.
Skipton's Summer Bond extended
Skipton Building Society has extended the availability of its limited edition Summer Bond. The bond offers an interest rate of 6.70% gross.
Five star rating for Fidelity FundsNetwork
Fidelity FundsNetworkTM has received a 5 Star award in the Investment category at the FTAdviser Online Service Awards 2008.
Close announces acquisition of first self storage trade
Close Investments is delighted to announce the acquisition of their first self storage partnership, adding an additional trade to their Close Trading Companies ("CTC"), an Inheritance Tax efficient portfolio of qualifying trades.
Retail sales data catches City by surprise
Soaring UK retail sales data for May, released today by the Office of National Statistics, and driven by a 9.2% rise in clothing and footwear purchases and a 3.3% leap in food sales, has caught the City by surprise.
Asian stocks offer inflation hedging potential
As rising inflation continues to be a major source of concern across Asia, Mike Hanbury-Williams, manager of the F&C Pacific Growth and F&C Asia Pacific Dynamic funds, believes the region remains structurally attractive, with a large number of stocks offering strong inflation hedging potential.
Market places premium on ‘real' growth stocks
The deteriorating macro-economic backdrop of slowing growth and rising inflation means that those companies which "can offer genuine growth and visibility of earnings" are starting to justify premium ratings, according to Catherine Stanley, co-manager of the F&C UK Dynamic Fund, a focused portfolio of UK stocks.
Banking sector still in the spotlight for TD Waterhouse customers
Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "The FSA's announcement of a new scheme for short selling must have felt like a well-timed breath of fresh air by the banking sector and by HBOS and Barclays in particular.
Spike in joblessness is unsettling but impact is likely short lived
The surprise jump in May's unemployment rate to 5.5% from 5% is in line with our perception of the softening of the US economy rather than a signal of a lurch towards recession, according to Cory Gilchrist, Manager of the Gartmore US Opportunities Fund and the Gartmore SICAV US Opportunities Fund.
Prinicipality launches new fixed rate savings bonds
Commenting on Principality Building Society's new two and three-year fixed-rate bonds for those aged 50 and over, Kevin Mountford, head of savings at price comparison site moneysupermarket.com, said:
HSBC to offer Life Trust's longevity income plan
Life Trust Insurance plc announces that HSBC Bank is soon to add the Longevity Income Plan (LIP) to its investment panel.
Insight strategy update
Matthew Merritt, head of strategy, Insight Investment, comments on economic conditions: Recent developments in financial markets reflect heightened inflation sensitivity. The rise in energy prices is impacting on headline inflation and central banks are wary of this filtering through into core measures.