Strong BP results fuel FTSE to a one per cent jump amid weak volumes October 30, 2012 BRITISH blue-chip index posted its biggest gain in two weeks yesterday after BP’s earnings topped forecasts, although volumes were among the lowest this year as US markets stayed shut. BP shares topped the FTSE 100 gainers, jumping 4.2 per cent after the oil giant lifted its dividend and delivered better-than-expected third-quarter earnings. The index closed [...]
Bond opportunities are still emerging October 30, 2012 IF YOU are on the hunt for strong and diversified returns from emerging markets, local currency denominated debt can give you solid exposure to attractive yields. Until the 1990s, due to poor liquidity and low transparency, emerging market debt was issued only in hard currencies, predominantly the US dollar. But many emerging markets now run [...]
Unemployment targeting by the Fed could see equities move upwards October 30, 2012 AS WE approach the release of the final US employment report before the presidential election, we’ll see plenty of analysis about both the recent decline in country’s unemployment rate and the health of its overall economy. Yet, if you look at more frequently-released data, like weekly unemployment insurance claims, the jobless rate has fallen by [...]
Europe hurt by fears over the storm’s impact October 29, 2012 EUROPEAN stocks fell yesterday, led by insurers on expectations a huge hurricane in the United States would boost damage claims, while political jitters in debt-laden Italy cast shadows on the Eurozone. Reinsurers Swiss Re and Hannover RE led a weaker European insurance sector index as the market tried to predict the cost of cleaning up [...]
UK stocks dip as Hurricane Sandy hits insurers and energy shares October 29, 2012 BRITAIN’S leading shares dipped in low volume yesterday as concerns over the costs of Hurricane Sandy in the United States added to uncertainties about future corporate earnings. Many investors were sticking to the sidelines ahead of a pick-up in the UK third-quarter earnings season this week, notably from the energy and banking sectors. Insurers were [...]
The impact on markets of devastating job cuts October 29, 2012 CORPORATES are wielding the axe, and blood is being spilt on both sides of the Atlantic. Bloomberg data reveals that US companies have announced 158,100 layoffs this year – up 23 per cent from 2011. But the problem isn’t isolated to the US. Ford announced 1,400 UK job cuts just last week and UBS, which employs [...]
Drug maker needs a high October 29, 2012 PHARMACEUTICAL giant GlaxoSmithKline will announce its third quarter trading results tomorrow. The drug maker has had a mixed year, and shares currently lie towards the middle of their 52-week range. GSK has appointed headhunters to find a replacement for Sir Chris Gent, who had been chairman since 2005, and traders will want details about when [...]
Australia could stumble as China looks uncertain October 29, 2012 FX360 OVER the last decade, the Australian economy has grown significantly. It’s become a key supplier of raw materials to the emerging Bric economies, and China has been at the heart of this demand. For a time, materials like iron ore couldn’t be shipped out of Australia fast enough to sate huge Chinese demand – [...]
The calm before the fiscal storm October 29, 2012 AS HURRICANE Sandy hits the eastern seaboard of the US, just how much will it rock the markets? And could it be a game changer for the presidential elections – now only a week away? According to an analyst note by the chief investment strategist of S&P Capital IQ, Sam Stovall, history says that hurricanes [...]
Analyst picks for 30 October 2012 October 29, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long New Zealand dollar-dollar and euro-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days Currencies like the Australian and New Zealand dollars have been quite resilient in the face of declining equity markets. This fits in neatly with my assessment [...]