4 Sep

Cairn Energy secures two rigs for its drilling campaign off Greenland coast

first_img OIL and gas firm Cairn Energy said it has secured two rigs for its controversial Greenland drilling campaign yesterday, boosting Arctic exploration hopes and sending its shares higher.Cairn is optimistic it will find substantial oil reserves in largely unexplored Greenland, saying it contracted the rigs to drill up to four wells in the Arctic region in 2011.The deepwater rigs will be operated by their owner, Norwegian-based Ocean Rigs.“We would view this update as positive given concerns that Cairn would struggle to secure rigs for this year’s campaign,” said Oriel analyst Richard Rose.Cairn said it would give further details on its drilling plans in due course, which the analyst said could start as soon as April if the company opts to drill in Southern Greenland, as it secured a $900m (£578m) debt facility to help secure the rigs.Standard Chartered, Bank of Scotland, Crédit Agricole, HSBC and Société Générale are providing the debt facility, which will also be used to fund general corporate purposes.Chief executive Bill Gammell said: “By contracting two vessels for the Greenland exploration programme Cairn has increased operational capability and flexibility and continues to demonstrate its focus on safety.”Shares in Cairn yesterday closed 11.60p higher, or 2.76 per cent, at 431.6p. Tuesday 4 January 2011 7:26 pm Tags: NULL Show Comments ▼ whatsapp Cairn Energy secures two rigs for its drilling campaign off Greenland coast KCS-content whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com Sharelast_img read more

4 Sep

Assets increase for eco-fund manager Impax

first_img whatsapp Show Comments ▼ whatsapp 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof KCS-content Monday 10 January 2011 7:17 pm Assets increase for eco-fund manager Impax ENVIRONMENTAL investment fund Impax Asset Management has seen its assets under management (AUM) grow by 44 per cent to £1.8bn.The company said it believed the environmental sector would benefit from the continued economic recovery and from governments’ focus on investing in green technologies.Full-year accounts for the company in the year to 30 September 2010 saw AUM shoot to £1.8bn, with a further AUM increase to £2.2bn by the end of December.Impax chief executive Ian Simm said: “Our conclusion is that it’s been a very strong year and we’re delighted our eco business model has delivered strong growth.“With the improving economic outlook and return of interest in equities we are cautiously optimistic for 2011. The fundamentals of our sector are such that if industrial capital expenditure is improving, and if energy prices are rising, then our sector typically does well.”Shares in the fund carry a “buy” recommendation from analysts at Espirito Santo. Impax shares rose on the London Stock Exchange yesterday. They closed up 5.1 per cent higher at 71p per share. Share Tags: NULLlast_img read more

4 Sep

Protectionist barriers to trade a main risk to German growth, says ministry

first_img GERMAN economic growth is expected to hit 2.3 per cent this year, official forecasts said yesterday.Germany’s economy ministry increased its forecast by half a percentage point.Yet while some economists think growth will be close to last year’s 3.6 per cent expansion, the ministry lowered its forecasts for exports and imports — and said global trade, including protectionism, posed the main risks to the outlook.Growth, nonetheless, should still be strong, they said.“The German pick-up is extra large. Now we have to make sure it is extra long,” said economy minister Rainer Bruederle. “The time of nerve wracking stop and go is over.”The forecast follows another week of strong economic data for the core Eurozone state.Confidence among German investors soared to its highest rate since July, according to survey results published on Tuesday.The Zew index rose to 15.4, from 4.3 in December, with half of all surveyed investors expecting a Eurozone interest rate hike within six months.The week began with the Bundesbank confirming “strong” manufacturing orders towards the end of last year.However, the Bundesbank expects overall economic growth to slow in Germany this year, forecasting a two per cent increase. Protectionist barriers to trade a main risk to German growth, says ministry whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 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 Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Show Comments ▼ whatsappcenter_img KCS-content Share Wednesday 19 January 2011 7:25 pm Tags: NULLlast_img read more

4 Sep

Man Group still bleeding assets despite GLG deal

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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Man Group still bleeding assets despite GLG deal Show Comments ▼ John Dunne whatsapp Thursday 20 January 2011 2:36 am whatsappcenter_img Share Man Group, the world’s largest listed hedge fund manager, continued to see client outflows, it said on Thursday, despite its recent acquisition of smaller rival GLG.Man, which has seen net client outflows for eight straight quarters even as rivals have won back investors, saw $1bn (£627m) of net outflows for the three months to end-December.Analysts had expected net inflows of between $550m and $900m.Man bought GLG last year for $1.6bn to boost assets and diversify away from computer-driven funds, and is incorporating its flows into its figures for the first time.Total assets for the combined company rose to $68.6bn – around the level that Man was running before the collapse of Lehman Brothers and Man’s subsequent performance and client losses. 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.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Tags: NULLlast_img read more

4 Sep

UBS predicts rebound as profits rise

first_img Show Comments ▼ UBS EXPECTS to win more client money for its wealth management business in 2011 and sees a rebound in the investment banking division, it said yesterday as it unveiled fourth quarter results. Switzerland’s biggest bank said it had seen improvement across private banking in the fourth quarter — with total net new money of SwFr7.1bn (£4.6bn). The bank won client cash in the Asia Pacific and Americas regions and among Swiss customers, but bled a small amount of assets both onshore and offshore in Europe, where countries have chased tax evaders.Fourth quarter profit was SwFr1.3bn, missing consensus expectations of SwFr1.54bn, although this was largely due to a series of one-offs, including a charge relating to its own credit. Wealth management revenues rose two per cent in the fourth quarter, though the unprecedented strength of the Swiss franc partly offset increased client activity.The Americas business attracted SwFr3.4bn francs of new money, demonstrating it was rebuilding client trust after a tax dispute that forced UBS to hand account data to US authorities.UBS said its Tier 1 capital ratio rose to 17.7 per cent from 16.7 per cent the previous quarter, and it reiterated that it did not plan to pay a dividend for 2010 or for some time to come. The bank also cut its bonus pool by 10 per cent to SwFr4.3bn. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndo Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut KCS-content UBS predicts rebound as profits rise center_img Share Tuesday 8 February 2011 9:09 pm whatsapp whatsapp Tags: NULLlast_img read more

4 Sep

HMV in profit warning

first_img HMV Group has said full-year pre-tax profits will be “moderately below” market expectations of £45m.The company, which has been hit by the move to downloads, also said it expected to breach its banking covenants when they are tested after its full-year results.It confirmed it had started talks with its lenders with a view to changing its loan facilities.Lenders continued to be supportive and loan facilities remained fully available, it added.Chief executive Simon Fox said: “Trading conditions remain tough, reflecting a difficult consumer environment as well as the changing markets in which we operate.“However, our business is adapting quickly to respond to these external factors, and we are confident that our plans will ensure its long-term sustainable future.”Arden analyst Nick Bubb said: “The shock is that HMV has flagged that year end net-debt will be way higher than expected at around £130m (we had a £70m debt forecast), because of a working capital squeeze and what it calls “changes in product mix”. Tuesday 1 March 2011 2:46 am whatsapp John Dunne Tags: NULL whatsapp Share HMV in profit warning More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA 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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Show Comments ▼last_img read more

4 Sep

Tough year sees Shore profit drop

first_imgTuesday 22 March 2011 9:04 pm whatsapp AIM-listed investment bank Shore Capital saw a pre-tax profits drop by a third to £8.37m in 2010 but said that it was a “strong performance” given “tougher conditions” in the middle of the year.Its market-making business bucked the trend, however, improving revenues by 5.8 per cent.Chief executive Howard Shore told City A.M. that growing the bank’s market-making range is a priority: “We’re a wholesaler. If you’re a pure wholesaler you have to be a specialist and have the right links to enable you to maximise your links to the retail community.”The bank also splashed out €2.885m (£2.5m) on a controlling stake in Spectrum Investments, a vehicle for buying a majority share of DBD, a German telecoms business.Its venture capital trust business saw mixed results, with two trusts seeing negative returns, offset by double digit returns in three other trusts.The results also show that Shore paid £2.1m in taxes last year. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeJournalPregnant Woman Takes a Nap – You Won’t Believe What She Discovered When She WokeJournalFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterMisterStoryWoman files for divorce after seeing this photoMisterStoryThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressForbes14 Richest Black Billionaires RankedForbesSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads Tough year sees Shore profit drop center_img Show Comments ▼ KCS-content 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapp Tags: NULLlast_img read more

4 Sep

Break-up for National Express looms as Elliott gains support

first_img whatsapp Break-up for National Express looms as Elliott gains support KCS-content TRANSPORT Group National Express edged closer to being broken up yesterday after an activist investor claimed a crucial shareholder supported its cause. Hedge fund Elliott Advisors, now the largest shareholder with 17.5 per cent of National Express, said it expected second-biggest investor the Cosmen family to vote for its bid to add three new directors to the board.The Cosmens, who sold the Alsa bus company to National Express in 2005, have not spoken publicly in favour of either side, but Jorge Cosmen, the group’s deputy chairman, has effectively been a signatory to the board’s opposition to Elliott.“Elliott has had a number of discussions with representatives of the Cosmen family in relation to its proposals to appoint three new directors to the board,” Elliott’s statement said.“Based on those discussions, Elliott expects that the Cosmen family and its nominees will vote their shares in favour of the resolutions.”City A.M. has learned that Elliott will meet National Express shareholders in London this week. Based on last year’s annual vote it would need the support of just one more top ten shareholder to pass its proposals. The Cosmen family is likely to want to break up the group to regain control of its Spanish assets. Tags: NULL Tuesday 12 April 2011 8:06 pmcenter_img Share 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼last_img read more

4 Sep

Samsung may be mulling sale

first_img Samsung Electronics Co may be looking to sell its hard-disk-drive business for $1.5bn (£919m), according to weekend reports. It is understood the company would use the proceeds of the sale to invest in higher growth areas. Samsung could not be reached for comment. whatsapp Samsung may be mulling sale by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads Sunday 17 April 2011 10:40 pm Show Comments ▼ More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgcenter_img Share whatsapp KCS-content Tags: NULLlast_img read more

4 Sep

Spanish yields rise as debt fears spread

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads KCS-content Spanish yields rise as debt fears spread whatsapp Wednesday 20 April 2011 9:01 pm 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe 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 Wrap Sharecenter_img Show Comments ▼ whatsapp SPAIN saw yields rise at its latest bond auction yesterday, raising fears that Eurozone debt contagion could spread to a country widely considered too big to bail out.Madrid sold €3.37bn (£3bn) of ten and 13-year dated bonds, at the top end of its target range on the back of solid demand, but it had to pay 31 basis points more for the cash than at its last equivalent sale in March. Ten-year yields reached 5.47 per cent versus 5.16 per cent in March.Spanish yields continue to creep up in defiance of widespread claims that Madrid is a bulwark against any further spread of the debt panic gripping the Eurozone. “Spain spreads are widening and wobbling,” said Newedge’s Bill Blain. “We all know that if Spain falls… game over.”Meanwhile, the growing expectation of a Greek default drove up the cost of insuring Athens’ debt still further to over 1740.7 basis points, up 144.1 points from yesterday’s close. Greek two-year benchmark bonds also reached a record yield of 21.114 per cent yesterday, as some traders said that markets were awash with rumours that European officials might try to use the Easter break to organise a restructuring of Greece’s finances, despite EU claims that any default would have to be unilateral. Others have pointed out that since Athens issued most of its debt, it can default unilaterally if it chooses. The euro reacted well to the Spanish sales, rising 1.2 per cent against the dollar. Tags: NULLlast_img read more