Analyst picks for 1 October 2012 October 1, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long Aussie dollar-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days A falling wedge (reversal pattern) may be in the works off mid-September highs. But a weekly close above $1.0350 this week must happen so that this can be fully [...]
Banks to announce interest rates days after key economic indicators September 30, 2012 THE first day of the month brings with it September’s Purchasing Managers’ Index (PMI) manufacturing data for the UK and Eurozone. Last month’s UK figures painted a rosier-than-expected picture of the sector, although the Eurozone figures were disappointing. The news will be followed up tomorrow by construction data from the PMI, although FirstGroup’s trading update [...]
Election debate kicks off amid gains for S&P September 30, 2012 WALL Street will open October with a busy week, highlighted by low expectations for global manufacturing data and the US jobs report. Any positive surprises may help lift the market. The S&P 500 finished its third positive quarter in the last four on Friday, despite suffering its largest weekly percentage decline since June. For the [...]
The business of winning a smile from a sceptic September 30, 2012 THE French policeman, or gendarme, didn’t look happy as he got off his motorbike. He had waved over my car after seeing me talking on my phone, and driving around a roundabout twice. However, his expression changed to one of utter disbelief when I greeted him with “Thank God you are here!” Before he could [...]
Questioning the need for life cover September 30, 2012 WITH the multitude of policies available, buying life assurance can feel like entering a labyrinth. Even many savvy personal finance buffs avoid the subject. Considering its morbid nature, one can see where they are coming from. But life assurance is one of the fundamental pillars of shrewd wealth planning, and avoiding the subject is one [...]
Three ways to save cash on costly London car insurance September 30, 2012 THE AA recently heralded the seizure of Britain’s millionth uninsured vehicle since 2005 – an average of 500 each day. Car insurance is, of course, a legal requirement for driving in the UK. But it’s also an expensive necessity. According to research by Moneysupermarket.com, London drivers face the highest premiums in the country. If you [...]
FTSE edges up as banks and mining shares find favour with investors September 27, 2012 GAINS by bank and mining stocks helped lift Britain’s benchmark share index yesterday, although investors said worries over the Eurozone could limit further moves higher and favour more defensive sectors such as food or health stocks. The blue-chip FTSE 100 index, which fell 1.6 per cent on Wednesday to a three-week low, recovered slightly to [...]
Spain’s reform plans help ease Wall St’s pain September 27, 2012 THE S&P 500 snapped a five-day string of declines in a broad-based rally yesterday, as Spain’s plans for economic reform eased some worries about one of the Eurozone’s most troubled countries. The benchmark S&P 500 rose one per cent, its biggest percentage gain since the Federal Reserve announced its plan for a third round of [...]
Wall St tumbles as debt crisis in Europe weighs September 26, 2012 THE S&P 500 fell for a fifth straight trading day yesterday as protests in Spain and Greece over Eurozone austerity measures raised fresh concerns over Europe’s ability to get its debt crisis under control. Investors sold risk-sensitive sectors such as energy and tech, while they poured money into more defensive areas like utilities and consumer [...]
Growth concerns drive FTSE 100 to lowest close since early September September 26, 2012 Britain’s top stock index hit a three-week low yesterday, with banks and miners hardest-hit on concern that the Eurozone’s problems, highlighted by protests in Spain and Greece, posed a threat to global growth. Growing talk of secession in Spain’s Catalonia region, a sharp fall in the country’s GDP, clashes at an anti-austerity protest in Greece [...]