Wall St edges lower ahead of non-farm data July 5, 2012 US stocks edged lower yesterday as economic stimulus measures by major central banks failed to excite investors before a US jobs report expected to show tepid growth. After the S&P 500 index’s strongest three-day run this year, investors stepped back, leaving the broad index and the Dow modestly lower and the Nasdaq essentially flat. Trading [...]
FTSE ends flat in thin trade with US shut and all eyes on central banks July 4, 2012 BRITAIN’S top share index edged down in thin trade yesterday, moving within a tight range as investors awaited central bank meetings today that many expect to result in fresh economic stimulus. A US holiday contributed to low volumes across the market, at less than half the 90-day daily average, with many investors preferring to wait [...]
Miners lead the FTSE 100 upwards in the hope of economic stimulus July 3, 2012 BRITAIN’S top share index hit two-month highs yesterday, extending gains into a third session as investors readied for more economic stimulus after surprise action last week at an EU summit to tackle the festering Eurozone debt crisis. But traders said the rally could be short-lived and the market may face downward pressure starting next week [...]
US stocks gain in thin trading before holiday July 3, 2012 US stocks extended a rally for a third day in a shortened trading session yesterday as sharp gains in oil prices lifted energy shares and traders factored in increased expectations for central bank stimulus. A raft of weak economic data has raised hopes that the European Central Bank will cut interest rates to a record [...]
UK banking and commodities rally on likelihood of economic stimulus July 2, 2012 BRITAIN’S top shares extended gains yesterday, led by rallies in banking and commodity stocks, with the market primed for fresh economic stimulus moves later this week, building on measures agreed by an EU summit to counter the Eurozone debt crisis. But some commentators were more pessimistic on the market outlook, feeling that with uncertainties still [...]
US stocks edge higher despite signs of slump July 2, 2012 US stocks edged higher yesterday, shaking off a surprise contraction in US manufacturing, which some investors took as a signal the Federal Reserve will take more forceful actions to boost the economy. The Institute for Supply Management’s manufacturing index came in at a lower reading than expected in June, registering a contraction in the sector [...]
Barclays stabilises as value investors return July 2, 2012 AS Barclays’ shares bounced back yesterday, this served as an important reminder to retail traders that the markets are not rational and it is easy to get your fingers burned. Anybody set up to take a short position on the FTSE open would have been hurt as the bank went on to be one of [...]
ECB MANOEUVRES HAVE NOT CHANGED THE EU DYNAMICS July 2, 2012 FX360 FRIDAY’S trading brought the first half of the year to an extraordinary conclusion. Risk assets soared, as investors responded to news from the EU summit. Expectations for a positive outcome from the meeting were low to non-existent. Yet, despite the well-publicised objections by Germany in the lead-up, European leaders cobbled together an agreement to [...]
THE TIPSTER | Hoping for a high-flying statement July 2, 2012 BUDGET airline Easyjet will be hoping that the Eurozone crisis is not going to put off people from travelling this summer, as it issues its a trading statement on Thursday. Its share price has done its own share of high flying, putting on over 30 per cent in 2012. With the far from clement conditions [...]
Doing the UK supermarket sweep July 2, 2012 THE jubilant spending during the Queen’s diamond jubilee may have given the high streets a boost, and inflation is being slowly reined in, but UK supermarkets are still facing a difficult year ahead. According to the Confederation of British Industry (CBI), the Queen’s Diamond Jubilee boosted retail sales in June, but shop sales were down [...]