FTSE climbs to 5,800 as investors bet on eventual ECB intervention August 6, 2012 CYCLICALS lifted Britain’s top shares above 5,800 points for the first time since May yesterday as investors bet on eventual European Central Bank action to curb high peripheral bond yields, although low volumes showed not everyone was convinced. The FTSE 100 extended gains from last week, helped by strong performances in mining and energy, although [...]
US stocks end at highest for three months August 6, 2012 US stocks closed at three-month highs for the second day in a row yesterday, extending last week’s rally on the hope for more assistance for the troubled Eurozone. The S&P 500 rose to its highest point since early May, but pared its gains going into the close. The benchmark index also failed to breach 1,400, [...]
Market drought offers little respite to traders August 6, 2012 YOU can almost see tumbleweed rolling down Threadneedle Street, as trading volumes drop over the summer months every year. But this year is different. We are not just seeing a drop in the short-term, but also in longer-term volumes. And these falls pose a risk for traders who don’t properly manage their risk exposures. “Traders [...]
SUCCESSFUL TRADERS DON’T PANIC WHEN THEY LOSE OUT August 6, 2012 FX360 TODAY I’ll wrap up a series of three articles, addressed to anyone considering trading for themselves. Last week, I wrote about money and risk management and the importance of creating a trading plan. Prior to that, I wrote about trading styles – is your lifestyle and temperament suited to day trading, or are you [...]
THE TIPSTER | Insuring against losses August 6, 2012 THE reorganisation of Aviva, the insurance giant, continues apace, as its new chief executive keeps to his plan of trimming the business down to a more manageable size. The disposal of divisions in eastern Europe reflects the determination of the new management to keep the company under firm control, and its recovery from June lows [...]
Don’t discount Fibonacci numbers August 6, 2012 The use of Fibonacci numbers in technical analysis is something of a Marmite issue. The idea that stock markets encounter resistance at ratios based on some magic numbers is a load of nonsense to some. But many use Fibonacci numbers, and the retracement levels of support and resistance they determine, as the bedrock of their [...]
Analyst picks for 6 August 2012 August 6, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short Aussie-dollar, Aussie-Kiwi, long dollar-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days A new short Aussie dollar-dollar position was established at $1.0565, after European Central Bank disappointment. The results of last week’s Fed meeting and the July non-farm payrolls [...]
LONDON WEEK AHEAD August 5, 2012 UK economics will be in the sspotlight this week, with the rrelease of the Bank of England inflation report, UK Trade Balance, the Producer Price Index and BRC Retail Sales Monitor. Results are expected today from Catlin Group, Morgan Sindall and Telecity Group, while in the US Chesapeake Energy is set to reveal figures. EasyJet [...]
WALL ST THE WEEK AHEAD August 5, 2012 DESPITE a ho-hum earnings season and central banks’ disappointing hopes for aggressive economic stimulus last week, US stocks held firm. After four days of losses, the benchmark Standard & Poor’s 500 index rallied on Friday, finishing the week in the positive for a fourth straight time and reaching three-month highs. Sustaining momentum are valuations that [...]
A hardworking manager of the UK’s ultra-wealthy August 5, 2012 FOLLOWING the 2008 financial crisis – when most people in financial services were losing their heads – Nathalie Dauriac-Stoebe was busy drawing up plans to go it alone by setting up Signia Wealth. She soon moved on from her role as a senior client partner at Coutts (and one of the four founding members of [...]