London Report: Data suggests UK economy is in good health July 21, 2013 THE UK economy is showing improving health, according to statistics out this week that are expected to reveal growth throughout the second quarter. The economy is forecast to have grown 0.6 per cent in the second quarter, accelerating from 0.3 per cent in the first three months of the year. The Office for National Statistics [...]
New York Report: Apple is set to report in busy earnings week July 21, 2013 WALL Street is experiencing its best month since January and looks poised to extend the rally with a deluge of earnings this week, though significant gains may be harder to come by with major indexes at record highs. Eight Dow components and Apple are among the companies that will report in one of the busiest [...]
Fresh economic hopes fuel the FTSE’s late rally July 18, 2013 UK EQUITIES rallied firmly into the close yesterday as bullish economic data both here and in the US calmed fears that the global economy may not be ready for a wind down in stimulus. The FTSE 100 closed up 62.43 points or one per cent at 6,634.36, its highest close since 30 May, while Wall [...]
Bernanke and good earnings lift Wall Street July 18, 2013 THE DOW Jones and the S&P 500 closed at record highs yesterday after Morgan Stanley and others reported better-than-expected earnings and Federal Reserve chairman Ben Bernanke’s comments further reassured markets. Shares of Morgan Stanley jumped 4.4 per cent to $27.70, its highest close since April 2011, after the bank posted a 42 per cent increase in [...]
FTSE lifted as miners report robust output July 17, 2013 BRITAIN’S FTSE 100 rose yesterday, with miners cheered by a string of solid output numbers from the likes of BHP Billiton, and with the US Federal Reserve reassuring that stimulus will only be cut if the economy is strong. Fed chairman Ben Bernanke signalled plans to start scaling back bond purchases this year could be [...]
Stocks edge up on Bernanke’s QE assurances July 17, 2013 US stocks ended modestly higher yesterday after Federal Reserve chairman Ben Bernanke said the timeline for winding down the organisation’s stimulus programme was not set in stone. Shares of Bank of America and Yahoo rose after both companies reported stronger-than-expected quarterly results. Both ranked among the names giving the biggest boost to the S&P 500. [...]
Miner Rio Tinto puts brakes on sliding FTSE 100 July 16, 2013 MINING heavyweight Rio Tinto helped limit a slide in Britain’s blue-chip FTSE 100 index yesterday with a production update that assuaged some concern about Chinese demand. Rio said it would boost iron-ore output by at least 10 per cent and banked on selling more to China – providing a fillip after data on Monday showed [...]
Flat Coca-Cola figures snap S&P’s bull run July 16, 2013 THE S&P 500 snapped its eight-day winning streak yesterday after disappointing sales from Coca-Cola, while investors turned cautious on the day before the Federal Reserve chairman’s congressional testimony. The market’s pullback came a day after both the Dow and the S&P 500 ended at record closing highs for the third consecutive session. Yesterday’s volume was [...]
Bernanke vow on stimulus cheers Wall St February 27, 2013 NEW YORK REPORT US stocks rallied for a second straight day yesterday as Federal Reserve chairman Ben Bernanke reaffirmed his strong support for the Fed’s stimulus efforts, while the euro climbed after solid demand at an auction of Italian government debt. Data on US housing and durable goods added to bullish sentiment in stocks, with [...]
FTSE falls back on uncertainty in Italian polls February 26, 2013 LONDON REPORT WEAK banks and commodity stocks sent Britain’s top shares to a more than two-week closing low yesterday after an inconclusive election result in Italy revived Eurozone debt crisis concerns. Europe’s most indebted state faced a political vacuum after a huge protest vote left no party or likely coalition with enough seats to form [...]