DailyFX Tips & Picks: Pivot pointing the high and low of the London session January 27, 2014 IN MY last column, I demonstrated the time of the day at which most highs and lows of the London FX session tend to occur, and why this tends to be the case. Today, I will focus on the price levels at which these highs/lows tend to be created using the pivot point indicator. The [...]
DailyFX Tips & Picks: Analyst’s pick January 27, 2014 CURRENCY STRATEGISTCHRIS VECCHIO My pick: Stay short sterling-yen; euro-dollar and dollar-yen key levels aheadExpertise: Fundamental and technical analysisAverage time frame of trades: A few hours to a few weeks Sterling-yen is on track for a meaningful pullback in light of two significant fundamental factors: a shift in Bank of England and Bank of Japan policy [...]
F&C shares rocket on offer from Canadian bank BMO January 27, 2014 F&C asset management has confirmed press reports from FT Alphaville of a 120p cash bid from Canadian Bank of Montreal (BMO). Current shareholders would also be entitled to a 2p dividend. F&C's board have indicated that they would be likely to accept such an offer, should BMO make a formal approach. Numis analyst David McCann [...]
Graphene condoms and 3 more cutting-edge inventions from UK universities January 27, 2014 The IP Group, set up to bring academic discoveries to market, said today it will spend a further £2.5m on projects trying to uncover practical uses for graphene, extending its tie-up with the University of Manchester Dozens of UK universities have innovation offshoots that aim to find a home for inventions and discoveries from within [...]
Government to invest £10m in community energy projects January 27, 2014 The government will invest £10m to encourage urban communities to develop renewable energy projects, as part of a number of proposals outlined today to help communities keep energy costs down. As well as the £10m urban community energy fund, the government plans to invest £1m to extend a scheme that supports volunteers who help vulnerable [...]
Sharks versus bankers January 27, 2014 Frank Moxton (middle) watches as the sharkes swim by You’ve had Mega Shark vs Giant Octopus, well, now it’s bankers versus sharks. Corporate financier Frank Moxon, a junior warden of the Worshipful Company of International Bankers (WCIB), led an intrepid team of seven volunteers from the City, up to Liverpool, to jump into a [...]
RBS sets aside further £2.9bn for misconduct and misselling January 27, 2014 State-backed bank RBS has put aside a further £2.9bn to cover various claims. That includes £1.9bn to cover various claims and conduct matters, and £465m for PPI and associated costs. That brings cumulative PPI provision to £3.1bn (£2.2bn has been used as of 31 December 2013). The remaining £0.9bn covers approximately 12 months of redress [...]
Commuters set for rough ride as TSSA votes to join RMT strike January 27, 2014 The Transport Salaried Staffs Association (TSSA) will be joining two 48-hour Tube strikes in an announcement that will sink the hearts of commuters. Manuel Cortes, TSSA general secretary, said: It is now time for Boris to sit down with his staff representatives and negotiate a sensible deal which will protect the safety and security of [...]
Food and drink M&A drops as firms hold tight January 27, 2014 The number of deals in the food and drink sector fell for the first time last year since 2009, new research shows, suggesting companies are holding off on acquisitions to focus on strengthening their businesses. Despite the broader economy showing signs of recovery, deal volumes dropped by 21 per cent compared with the previous year, [...]
US service sector activity hits four-month high January 27, 2014 More positive signs for the US economy. Activity in the US services sector rose to a higher-than-expected 56.6 in January – the highest it's been since September 2013 – according to a flash estimate from Markit. The services purchasing managers’ index was expected at 56.2 from December’s 55.7. The reading shows continued robust expansion into [...]