French business climate better in July with signs of cyclical improvement July 23, 2013 (Source: INSEE) New data shows that French business climate has improved from 93 to 95 in July, beating expectations of a rise to 94. The turning point indicator swings to the favorable area, indicating a cyclical improvement. While export order books decreased slightly, total order books improved. Nevertheless, global and export order books are still [...]
Before the open – 23/07 July 23, 2013 Asian markets have performed well overnight as hints of Chinese easing have given traders confidence in equities. Now we're expecting that exuberance to translate into some mild gains for the FTSE and other European markets. Good morning – looking ahead to the open here are the forecasts for indices: FTSE100 +15 at 6638; DAX +20 [...]
CNBC Comment: 2014 could see more pain for Eurozone July 22, 2013 IT HAS been impossible to tune out the din from the Fed on tapering, with the exit from QE dominating sentiment. But don’t be fooled into thinking the Eurozone crisis has disappeared. Europe has been on a slow boil, and could burn investors again this year or even worse in 2014 – when the first [...]
Analyst picks July 22, 2013 DailyFX CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long Aussie dollar-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks I maintain my bullish call on Aussie dollar-yen, despite no landslide victory in the Japanese election. But now that fiscal authorities don’t have carte blanche, the impetus to [...]
Institute of Directors criticises government for failing to expand EU single market July 22, 2013 The Institute of Directors (IoD) has commented on today’s government audit on the balance of competences between the UK and the EU, covering areas including taxation, foreign policy and health. Simon Walker, director general of the IoD, said: The Government has a golden opportunity to urge extending the Single Market to services. The biggest failing [...]
Goldman cuts US growth forecast AGAIN – it’s now less than half what it was two weeks ago July 22, 2013 Goldman Sachs has cut its second quarter US GDP estimate again after home sales fell in June for the first time this year. The bank now forecasts 0.7 per cent growth in the second quarter, revised down from 0.8 per cent. This is the fourth revision to US output estimates in less than two weeks, [...]
Telefonica confirms it is in talks over major German telecoms merger July 22, 2013 Telefonica Deutschland has confirmed it is in talks with Dutch telecoms company KPN to purchase German mobile operator E-Plus, although transactions are still being negotiated, according to a reporter for the Financial Times. BN 07/22 16:17 *TELEFÓNICA DEUTSCHLAND CONFIRMS TALKS POSSIBLE PURCHASE E-PLUS — Anousha (@anoushasakoui) July 22, 2013 Telefonica had already said it was [...]
Why silver will underperform next to gold over the next two years July 22, 2013 Despite the recent price spike of both gold and silver, silver will continue to underperform gold given its greater susceptibility to industrial volatility and reduced household demand, according to a note from Capital Economics. This goes against what a number of other analysts have been arguing. The price of silver was up over five per [...]
Former bank of England governor introduced to Lords as Baron King of Lothbury July 22, 2013 Former governor of the Bank of England Sir Mervyn King was introduced to the House of Lords today as a non-party political peer under the title Baron King of Lothbury. Sir Mervyn King goes into the phone box and comes out Lord King, arriving today at the House of Lords: pic.twitter.com/pKfxh8NPN0 — Sam Coates Times [...]
UK government: EU membership in our interest but other diplomatic avenues should be explored July 22, 2013 A UK government audit of EU powers in the realm of foreign policy has argued it is strongly in the country’s interest to retain membership of the union. The key benefits cited included: Increased impact from acting in concert with 27 other countries; greater influence with non-EU powers, derived from our position as a leading [...]