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Your support makes all the difference.OPTIMISM GROWS OVER PROFIT RISES
Fund managers are becoming more optimistic about growth in corporate earnings, according to the latest survey by Smith New Court. They now expect growth to average 14 per cent this year, and 14.5 per cent next, compared with 12 per cent and 14 per cent expected a month ago. They are also becoming more enthusiastic about Japanese equities.
JAGUAR SALES UP
Jaguar, the luxury car maker owned by Ford, increased worldwide sales by 16 per cent in the first quarter. Sales to the US rose 29 per cent.
OFFICES WORTH LESS
Office developments in central London could be worth only 60 per cent of the pounds 10.8bn loans secured on them, according to an analysis by St Quintin, the surveyors.
SPANISH BANK SELL-OFF
About pounds 700m of shares are to be sold in the state-owned Spanish bank Argentaria, representing a quarter of the equity, said the pathfinder prospectus issued yesterday . Of the shares on offer, 40 per cent will be marketed outside Spain, with SG Warburg the lead manager in the UK alongside Banco Santander as co-manager.
JAPANESE CAR AID
The Japanese car industry, faced with depressed domestic demand, is considering applying for government subsidies to help it to ride out the recession, a spokesman for the Japan Automobile Manufacturers Association said.
TODAY: 13.4.93
Producer price index (March). US retail sales (March)
Interims: None announced.
Finals: Erith, FR Group, Sykes- Pickavant.
TOMORROW: 14.4.93
Index of production (February), Treasury monthly monetary report. G7 meeting in Japan to discuss Russian debt.
Interims: None announced.
Finals: Laura Ashley, Crane Europe, Friendly Hotels, Golden Vale, Gowrings, Kingspan Group, Tie Rack.
THURSDAY: 15.4.93
Retail sales, re-based long run data.
Interims: Sphere Investment Trust
Finals: Blue Circle Industries, Brook Service Group, Campari International, Forte, Meggitt, Parambe, RMC Group, Radamec, Russell (Alexander), Tudor
FRIDAY: 16.4.93
Retail price index and tax and price index (March).
Interims: British Empire Securities, Verity Group.
Finals: Elys (Wimbledon), Renown, Swallowfield
WORLD MARKETS
NEW YORK: Blue chips were sharply higher, propelled by more good news on US inflation. By the close the Dow Jones Industrial average was up 31.61 points at 3,428.09.
TOKYO: The Nikkei 225 index closed down 10.04 points at 19,882.14, with an estimated 330 million shares traded, less than half the daily average.
MADRID: Share prices were steady following the decision to call a general election. They closed slightly higher, with the IBEX-35 index rising 6.23 points to 2,601.44.
SINGAPORE: The Straits Times Industrial index closed down 10.56 points at 1,707.84.
LONDON, Hong Kong, Sydney and most European exchanges closed.
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